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Spain plans to develop a ‘digital nomad’ visa that would allow residents from the United Kingdom and other non-EU nations to work in the country while enjoying the climate and reduced cost of living.

The visa’s full details are still being worked out, but it will be available to anyone working remotely for non-Spanish firms that meet a set of criteria. Applicants must be employed by a company that obtains 20 percent of its yearly revenue from one or more Spanish enterprises. They should also be from countries outside the European Economic Area and have worked remotely for the past year (at least one year).

What are the terms?

If applicants are freelancers, they must have an employment contract or proof that a firm outside of Spain has consistently employed them.

Applicants must also establish that they will generate adequate funds to provide for themselves and have a physical address in Spain. Furthermore, they will be taxed at a rate of 15 percent for the first four years instead of the total 25 percent base rate.

The visa, which is effectively a residence permit, holds up for one year. However, based on the applicant’s circumstances, it will be renewed for up to five years, and spouses and children will be entitled to join the application.

EU countries want digital nomads

When the visa ultimately becomes available, Spain will join 15 other European nations that provide a nomad-type visa, each with somewhat different terms. For example, Croatia wants applicants to earn at least €2,300 per month, while Iceland requires €7,100 and Portugal only €700. According to reports, Spain is proposing a minimum of roughly €2,000.

Madrid, Valencia and Barcelona are already attractive locations for digital nomads in the EU, notably Barcelona, which has a burgeoning technological base. The country’s 4G coverage also makes it an excellent spot to operate in rural regions with lower rents. The average 148Mbps internet speed in Spain is one of the highest in Europa, nearly double the 75Mbps in the UK.