The long awaited Startups Law was finally approved last Friday 2nd December 2022 by the Congress of Deputies in Madrid.
We now know the definitive benefits that this law will bring to any national or foreign citizen wishing to start up a business in Spain.
The text has not yet been published in the Boletín Oficial del Estado (Official State Gazette – where all laws approved in Spain are published), but we can already tell you many of the advantages that this Law incorporates.
What interests us most is that this law has created a special visa for Digital Nomads for all foreigners who can work 100% remotely. Whether you are self-employed or working for a non-Spanish company, you can apply for this visa.
If you were thinking of opening a company in Spain, read on because here we will also explain the keys to find out if your business can be considered a Startup and benefit from the aid of this new law.
No, not yet. Although many of you may be thinking that it is already possible because the Law has been approved, there are still some steps to be completed. This Law still has to be ratified by the King and officially published. As it has already been approved by the Congress, there is now a maximum period of 15 days for it to be published in the Official State Gazette. Therefore, before Christmas it will have already entered into force and will take effect. The digital nomad visa can start to be applied for after Christmas and we will have the first applications for the new year.
This law is aimed at the following types of companies:
The characteristics must meet the following requirements:
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