Spain has simply elevated its revenue necessities, however its digital nomad visa nonetheless isn’t one of many highest in Europe.
Foreigners in Spain who’ve a digital nomad visa or are pondering of making use of for one this yr shall be topic to greater revenue necessities in 2025.
The month-to-month incomes threshold is linked to Spain’s minimal wage – and the federal government has reached an settlement with the nation’s primary commerce unions to extend this by 4.4 per cent this yr.
This elevate equates to €50 extra monthly, taking it as much as €1,184 monthly throughout 14 funds (€16,576 gross per yr).
To grasp how this interprets for the digital nomad visa monetary necessities, it must be calculated as 12 funds of €1,381.33 monthly.
Digital nomad visa candidates have to exhibit that their month-to-month earnings are equal to 200 per cent of the minimal wage.
This implies you now have to earn no less than €2,762 monthly to be eligible for the visa in 2025 – up greater than €100 a month from final yr.
Regardless of the rise in revenue necessities, Spain’s digital nomad visa nonetheless isn’t one of many highest in Europe.
Right here’s how different European international locations examine.
Iceland’s digital nomad visa has the very best revenue necessities
Iceland’s distant work long-term visa is aimed toward high-income people incomes €7,075 monthly, the very best in Europe.
Employees can apply both as staff of a international firm or as freelancers. The visa lasts for six months, and candidates are thought of tax residents throughout this time.
Estonia is available in second, with candidates of the digital nomad visa requiring a gross month-to-month revenue of €4,500 a month. The visa lets folks working remotely for corporations overseas – or freelancers with shoppers principally overseas – keep in Estonia for as much as one yr at a time.
If you happen to stay within the nation for greater than six months, you’ll achieve tax residency and be topic to native taxes.
Romania’s digital nomad visa, aimed toward non-EU residents, units its revenue requirement at €3,950 monthly, which is 3 times the nation’s common gross wage.
In 2023, Romanian president Klaus Iohannis signed a brand new invoice to make clear tax necessities for digital nomads. These staying for lengthy durations are exempt from paying revenue tax, social safety, and social medical insurance contributions.
Finland’s digital nomad visa has the bottom revenue necessities in Europe
Regardless of having excessive dwelling prices, Finland requires digital nomad visa candidates to earn a minimal of simply €1,220 monthly.
Finland’s self-employment visa is open to non-EU entrepreneurs who’re self-employed or run an impartial enterprise.
Montenegro’s necessities are additionally low, at round €1,400 monthly. Individuals can use the scheme to reside within the nation for as much as 4 years. Digital nomads are eligible for tax breaks, though particulars are nonetheless to be confirmed.
Digital nomads can apply for an Albanian residence allow that enables them to remain and work within the nation for as much as one yr. Launched at the beginning of 2022, the so-called ‘Distinctive Allow’ may be renewed as much as 5 instances in a row.
Distant staff should present proof of an employment contract for an organization exterior of the nation that enables them to work remotely, in addition to proof of funds to assist themselves of an estimated €9,800 a yr.