It would not exactly be news to any of our blog readers if we were to suggest that the last two years have seen drastic changes to how great numbers of us live and work. One of the key trends in response to the COVID-19 pandemic has been the rise of the ‘digital nomad’, a term referring to those who take advantage of widespread Internet connectivity to work remotely from almost anywhere in the world.
It has been particularly fascinating, however, to see how this development has influenced people’s choices on such matters as the purchase of property abroad, and even its impact on national policy.
This much has become clear through a series of recent news stories, which have helped to show how for many prospective buyers and renters, property in Sotogrande and other desirable parts of Spain has become even more attractive than it already was.
Working expats are sure to take an interest in the new ‘Startup Law’
One intriguing development during December 2021, for instance, was the Spanish Council of Ministers’ approval of a draft ‘Startup Law’ that is aimed at entrepreneurs intending to start a business in Spain.
Various measures are included in the law, geared towards incentivising the creation of new jobs and companies in the country. These include tax breaks for the aforementioned ‘digital nomads’; specifically, entrepreneurs who relocate to Spain, but who work for a company registered anywhere in the world, will be permitted to spend five years living and working here while only paying non-resident income tax, instead of the higher rate of normal income tax.
Another eye-changing change put forward in the draft law, is non-resident expats no longer being required to obtain a Número de Identificación de Extranjero (NIE, or Foreigner’s Identification Number) if they wish to set up a business in Spain. They will, though, still need to obtain a tax identification number (NIF) in order to pay their taxes.
Are you among those seeking to join the ‘great escape’ to Spain?
With the advanced state of videoconferencing and other Internet-connected technologies these days making it easier than ever to work well from home, but coronavirus travel restrictions still creating uncertainty, it will make sense for many of our readers to seek out property in a location that suits their desired lifestyle.
Sure enough, the Express newspaper in the UK recently reported that “Brits are still looking to buy overseas properties even though the UK has left the EU… some are buying second homes, but a growing number are seeking full-time residency, which will allow them to work remotely in the sun.”
That, in turn, tallies well with the property portal Kyero – which we work closely with ourselves here at BM Sotogrande – disclosing a 446% year-on-year rise in 18-to-24-year-old Britons using its website to view Spanish property.
Are you interested in joining them – and going further, by actually acquiring the property in Sotogrande of which you may have long dreamed? If so, the BM Sotogrande team is ready and available to assist and advise you at every step of your journey. Simply call (+34) 956 785 092 or email firstname.lastname@example.org to find out more about how we could serve your ambitions and requirements in relation to Sotogrande property.