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Spain's NOMAD VISA...is it Working? + More on GOLDEN VISAS and Getting Your TIE | Pellicer & Heredia
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Oct 29, 2024
Pedro was in this time from @Pellicerheredia in their new regular slot in the afternoons: Every other Wednesday from 16:00 CET with Kal Sutherland. There was a reminder that we're still in tax declaration season in Spain and that you have until June 30th. Plus more on Spain's 'Nomad Visa' and what have been the main stumbling blocks so far in obtaining one. No date has yet been fixed for the scrapping of Spain's 'Golden Visa' so you can still apply. And for any Brits that were resident here before Brexit, it's been advised that you get your TIE if you still haven't done so - especially if you're going to be travelling. But what if you've lost the original green residency certificate? There may be a solution. You can see more about visa and residency options at www.alicantelawyers.es, where you can also watch back some of the previous webinars. Be sure to Like 👍 this and Subscribe to our channel if you found it useful. Website: http://www.bayradio.fm/ Mobile App: https://app.appinstitute.com/yddcc Facebook: https://www.facebook.com/BayRadioInSpain Twitter: https://twitter.com/bayradioinspain Instagram: https://www.instagram.com/bayradiospain/
View Video Transcript
0:00
Bay radio international call a pass for
0:02
Mainland Spain and I'm pleased to
0:03
welcome Pedro back into the studio with
0:05
us from alakan lawyers. good to see you
0:08
again how you doing good to see you B
0:10
everyone we understand that I should be
0:13
saying something like Macho ules oh
0:15
that's fantastic maues we were so this
0:18
your football team my football team
0:21
actually my vice president of a football
0:23
team and we were really in a bad
0:25
situation on this this category that we
0:27
were in second rev is like four division
0:30
and well we now we are in the first we
0:33
call it ref is RF F which is really
0:36
third division but it's really a very
0:38
attractive Division and on terms of
0:41
football on terms of quality in terms of
0:42
fans on term of histor teams like eres
0:46
is one of them um what's the money is
0:49
the money better than you g up division
0:51
better obviously the cost has increased
0:53
we have made right now the the the what
0:57
how is going to be the tickets for the
0:58
season on on the year obviously we have
1:00
increased the tickets because obviously
1:02
the costes are going to increase and and
1:04
people people understand that attract
1:06
better players in this division yeah
1:08
notice that the latest game that we had
1:10
which was a couple of weeks ago we
1:13
attract like 20,000 people 28,000 and my
1:17
opinion was that we could have uh have
1:20
like 50,000 if we wanted to uh let's
1:22
talk about the tax system and uh the the
1:26
tax implications uh that are expected
1:28
right now which taxes are we meant to be
1:30
putting together well at this time right
1:32
now obviously if you are resent in Spain
1:34
if you were resident last year
1:37
2023 if even if you became for example
1:39
tax res or resident let's say at the end
1:42
of 2022 when 2022 you are non resident
1:46
for tax reasons so you are a resident
1:49
and tax resident for 2023 you have to
1:52
declare and pay maybe um your worldwide
1:55
income in Spain accordingly to the
1:57
double taxation treaties for example you
1:59
have an income from a pension that you
2:01
are receiv for example from UK and we
2:03
need to check if it's a private pension
2:05
so should be paid in Spain and declared
2:06
in Spain or if a state pension that
2:08
should be paid in a Spain or maybe it's
2:09
a Sil s pension on Old a old a pension
2:13
that should be paid and taxed out sour
2:15
in in in the UK these cases as the
2:18
double taxation treaty between Spain and
2:19
UK so the agreement is that you don't
2:21
pay twice exactly at the end is just it
2:25
conducts you guide you where to pay but
2:27
don't pay twice so if you've been living
2:29
in Sp for the past year whether you've
2:31
been earning or not you should be
2:32
filling out the form for this sorry if
2:36
for the the income from the last year
2:38
whether you've been working or if you it
2:40
doesn't matter I mean just income pure
2:41
income it's not then we also are in the
2:44
season of a wealth tax because in this
2:46
region in Valencia region Comm
2:48
valenciana it's still compulsary to
2:50
declare and pay we ta weth taxes means
2:53
that if you um own assets uh let's say
2:58
over 500,000 euros
3:00
and where is not included Your payman
3:02
Home up to €300,000 individually I mean
3:05
each person has more than
3:07
500,000 without counting um um
3:11
investment on property where you
3:13
live then wealth tax arises to
3:16
p and it is announced by the new politic
3:20
party uh from last year that is going to
3:22
be
3:23
eliminated okay and that's good news
3:26
which means that well but they still
3:28
have not done it we hope that at the end
3:30
of this year they will say okay perfect
3:32
2024 will be the last year 2025 will not
3:35
be compulsory to declare and pay they
3:37
already made and well they already
3:39
announced about the inhabitance tax to
3:41
be reduced drastically 99% do we know
3:44
when they did no they did it they did it
3:46
immediately they did it from last year
3:48
from May last year and now obviously the
3:51
taxes between spouses and Children First
3:54
Grade on family members is um nothing I
3:57
mean it's absolutely minimum minimum
3:59
minimum
4:00
this is quite good news isn't it for the
4:02
valencian community as a whole because
4:04
it attracts people from elsewhere to
4:06
come and work here yeah I mean w tax
4:10
we've been in the last years like we say
4:11
like 10 years having appointments with
4:14
clients that we wanted to come to this
4:15
area but wealth tax was compulsory and
4:17
those who have a lot of assets obviously
4:20
and I understand I understand why they
4:21
have to pay something that they have
4:23
already paid why they have to pay taxes
4:25
for something that they own without any
4:27
income obviously it's connected with
4:29
their income tax tax if you have a lot
4:30
of assets but you don't have income then
4:32
the wealth tax is reduced could be
4:34
reduced 80% so there are some connection
4:37
between wealth tax and income tax but
4:39
there are some regions that wealth tax
4:41
was eliminated like Madrid and like
4:44
andalia and you've seen an increase in
4:46
people moving there exactly exactly and
4:48
Madrid for example has attract a lot
4:50
of let's say rich people from Spain that
4:53
were living maybe in Valencia we living
4:55
maybe in s we living maybe in in in
4:58
Barcelona or north of Spain and after
5:02
that was also approved by andalia so
5:04
people always in Mala area all that area
5:08
right now is it was always quite Rich
5:10
wasn't it that area of V but you know
5:12
Catalonia also is known for having quite
5:15
a lot of money but people have been
5:16
moving from there to these other because
5:18
of this Independence issue that they are
5:20
been requir yeah it was a little bit up
5:22
in the air wasn't it in fact still is
5:24
obviously yeah it's been it's been some
5:26
years about that it settled down a
5:27
little bit with the recent situation we
5:29
were talking about this before we came
5:31
on there about the fact that there is an
5:33
amnesty for some of those that were
5:35
wrapped up in that Independence uh
5:37
declaration but of course there are lots
5:39
of people who who are not um being
5:40
offered an amnesty in that and that
5:42
includes a number of people like say
5:44
perhaps that you know the the M squadra
5:46
um who were involved in caught up in it
5:49
and and there isn't an amnesty for them
5:50
but there is for the politicians there
5:53
there's not an Amy this is one of the
5:54
reasons why many media really is against
5:57
all this and many people is against this
5:59
and why they have to make an emby is
6:01
like a it's like making a glob in their
6:04
favor yes some person some other ones
6:07
went to jail already jailed and then the
6:09
other ones who went to jail say why I
6:10
did had to go to jail defending these
6:13
principles and now you don't and because
6:16
uh and why the government wants to do
6:19
that in order to get the seven votes
6:21
because it's seven votes in order to
6:24
get because if the government and this
6:26
is one of the questions that we made if
6:28
you didn't need that seven votes you do
6:29
it and the answer is no of course so
6:31
it's not really a big principle an
6:33
argument in order to do it but given the
6:36
recent political events and and the way
6:39
that things have worked out things seem
6:41
to be a bit calmer in Catalonia now so
6:43
perhaps maybe not as many people moving
6:46
what about people from abroad though uh
6:48
being enticed by some of these uh tax
6:50
and fiscal offers by the regions yeah I
6:54
mean Catalonia and Barcelona
6:55
specifically has been I mean has been a
6:57
Cosmopolitan a spectacular City in and
7:00
in the world well know in the world and
7:02
probably Madrid is right now increasing
7:04
and getting
7:05
T place on this but obviously taxes and
7:09
whenever want someone want right now
7:11
we're in a period of time that many
7:12
people can't work at home with a
7:15
computer with telephone yes since Co of
7:17
course all of that getting used to
7:18
working at home we're seeing it happen a
7:19
lot more aren't we Spain is attracting a
7:21
lot of a lot of people lot of I mean
7:23
people from companies and also some
7:25
someone who applied some many these
7:26
years work in self-employment or wants
7:28
yes to work I mean I have a I'm employee
7:30
of a company in Canada I'm employee a
7:31
company in in China I a company so and I
7:34
want to because I I could work in Spain
7:37
I just move well the good thing as well
7:39
the good thing is as well for these
7:40
remote workers is that they retain that
7:42
same wage so whether they're from North
7:44
America whether they're from northern
7:45
Europe the wages are still a lot more
7:47
than they are in this area yeah and they
7:50
have a possibility The
7:52
Faculty uh to get like a special tax
7:54
regime which is a flat fee of 24% of a
7:57
salary without any tax regarding
8:00
dividends interestes capital gains at
8:01
all
8:02
nothing just 24% of the salary that you
8:05
may get so in some in many cases if you
8:08
get a good salary it will be less than
8:11
maybe what you paid in your home country
8:13
because it will be receiving a gross
8:15
amount and then you just pay
8:16
24% flat fee in in a Spain so in many
8:20
and also if the cost of living is less
8:23
and you are able to well to enjoy in
8:25
Gastronomy you can choose yeah one of
8:27
the a lot of benefits yes and also you
8:29
can bring your I mean your family I mean
8:31
it has a lot of issues about this about
8:32
the Nomad Visa The Nomad Visa we've been
8:34
hearing about in the news again Pedro
8:36
and what we've been hearing is that it's
8:38
going to stop but it's not stopping
8:39
anytime soon is it no no no NAD Visa is
8:43
is obviously is brand new and is is
8:45
Right R bureaucracy that we have right
8:47
now because of a in maybe sometimes it
8:49
needs to be inscribed the company into
8:51
the Spanish system because there's no
8:53
convention between Spain and some other
8:54
countries or the activity about employee
8:57
needs to be updated into the let's say
8:59
the system a public system so there some
9:01
bureaucracy that right now is been
9:03
amended and it's been getting through in
9:05
order to because is suppos that whenever
9:07
you make an application it is like 10 20
9:09
days to get a positive or or negative
9:12
resolution but right now it's taking
9:14
months so the no Nomad Visa is the one
9:16
that's staying it's sorry it's my M
9:18
stake the gold the golden Visa is the
9:19
one that might go we'll talk about that
9:20
in a moment that's right go ahead with
9:22
the Nomad and and the numad Visa is
9:24
really is is is really brand new from uh
9:26
from now and right now we are receiving
9:29
a lot of questions a lot of queries
9:30
regarding and other to get because
9:31
obviously Spain sometimes is like very
9:34
attractive in order to come here and
9:35
work remotely at the end of my Visa is
9:37
to come to Spain to work remotely and
9:41
was this the one you were talking about
9:42
before the break about 24% flat free I
9:45
mean the NORAD Visa is a Visa is an
9:48
authorization to be resident in Spain um
9:51
first application could be at least for
9:53
3 years for authorization for residency
9:55
you can be with employee of a company or
9:58
you can be Al at
10:00
self-employment and uh if you're
10:02
employee of a company obviously you we
10:04
need to show at the end you are you have
10:06
a salary with a company the company
10:08
exists more than one year you have been
10:10
working more than three months which is
10:12
a very soft
10:14
requirements at then you have to show a
10:16
letter from the company that shows that
10:19
obviously the work you do is a work that
10:20
you can do remotely in Spain
10:22
authorization from the company to come
10:24
here to spend to work uh on that job and
10:27
if it's a self-employment is more the
10:28
same it's like with a letter of a client
10:30
that shows that you've been more than
10:31
three months working with them and at
10:33
the end you have to show that you have
10:34
at least more than three years
10:36
experience on on on the field that you
10:38
are showing well it really shows uh like
10:41
soft requirements really and you need to
10:43
show a minimum of uh 2,400 per month
10:46
income salary it's not you don't have to
10:49
show show
10:51
savings um you have to show that you
10:53
have income and then is the other part
10:56
is the tax issue the tax area on this
10:59
fail it's not just for the NAD Visa it's
11:02
not just for Golden Visa it could go to
11:04
everywhere really who someone who comes
11:06
to Spain with authorization or any Visa
11:09
that authorize you to work and to work
11:12
remotely you are able to get access to
11:16
the tax regime which is treated like
11:19
like you will be treated like if you
11:21
were a nonresident for tax purposes M
11:24
and as as you said it's a flat fee of
11:26
24% of the salary and it's convenient
11:29
why because obious obviously you maybe
11:31
sometimes you got like a high income
11:33
fible sometimes your percentage is is
11:36
higher than 24 okay well you get this
11:37
24% you are saving some money uh but
11:40
also you will not pay any other kind of
11:42
in taxes in Spain about any other income
11:45
IM imagine that you have income from
11:47
dividends from a company imagine that
11:48
you have income from only other
11:51
Investments or 4 onek or whatever
11:54
withdraw while you do capital gain
11:56
interest is you will not be paying taxes
11:58
in Sp about that you will be paying
12:00
taxes in the home country or maybe not I
12:02
don't know but not in Spain will just be
12:05
salary sounds like quite a decent deal
12:07
isn't it it's going to fit some people
12:08
and perhaps not others exactly exactly
12:11
this is why it's good I mean with in
12:12
many occasions it's good in many
12:14
occasion this is why it's good to
12:17
prevent and this is what we do we make
12:19
some a lot of appointments a lot of
12:21
simulations with people that intends to
12:23
apply for NAD Visa or maybe golden visa
12:26
and we will speak about that later we
12:27
will and um
12:29
and obviously we we we manage in order
12:31
to understand which is the scenario when
12:33
they want to move uh what kind of job do
12:35
you do what kind of salary kind of
12:38
income they get uh ownership um about
12:41
wealth I mean all these situations we
12:43
need to to check and we at the end we
12:46
agree and we inform about I mean capital
12:49
G maybe someone is selling the property
12:50
and maybe buy another property in Spain
12:52
all these situations is is good to
12:54
prevent and lots of people have
12:55
different situations of course don't
12:57
they we were talking during the break
12:59
there that um there are some horror
13:01
stories people who perhaps don't do you
13:04
know what they should do is look at the
13:05
situation first before moving and before
13:08
jumping because you can lose out you had
13:09
an example of somebody who just recently
13:11
did just recently I mean is someone G
13:13
first appointment now he's been uh
13:16
sometimes resident last year and and
13:18
obviously someone who came to Spain and
13:21
well uh understood that it was a
13:23
resident he wanted to buy a property
13:25
they withdraw some money from an
13:26
investment and they bought the property
13:28
okay well uh and pay some money in this
13:32
case from the US but obviously if you
13:34
withdraw a lot of money in this case a
13:36
lot of money to buy a property in that
13:38
case and that year that whenever he did
13:41
it it was a tax resident obviously it
13:44
inputs into like income so and when you
13:47
withdraw I'm going to put an example
13:50
350,000 uh income is you can imagine
13:53
that it goes from spin goes from 19% to
13:55
40% it goes to I mean the tax rate was
13:59
absolutely crazy I mean absolutely crazy
14:02
and whenever whenever you do not pay
14:04
like €120,000
14:05
tax you don't do that I mean he's
14:07
criminal he's like yeah exactly and
14:11
obviously the the bad point really here
14:13
is that he he have prevent that before
14:17
three four five months before he moved
14:19
to Spain do that so some planning before
14:22
you before you move um and think about
14:25
what what could what could happen you
14:27
could save quite a lot of money uh
14:29
just having one appointment to work out
14:31
when the best time to do everything is
14:33
people I mean this is what we we we
14:36
struggleing to inform people you to say
14:38
but this is a scenario then you decide
14:40
this is the scenario that if you do this
14:42
this is going to happen this if you
14:43
don't do this this will happen but what
14:46
we want people to understand what will
14:48
be the scenario whenever they move
14:49
obviously we don't have a crystal ball I
14:51
don't know what will happen next year
14:53
what is's going to agree or rule
14:55
whatever but more or less is going to be
14:57
the same but certainly some planning is
14:58
going to could save you like you say you
15:00
know in that particular situation quite
15:01
a lot of money um and prevent you being
15:04
taxed where you withdraw the money from
15:06
and when you come to Spain so yeah that
15:08
that's that's quite an important thing
15:10
um so really the best thing is before
15:12
moving always check out the situation
15:15
your situation and what you could go
15:16
into so and and also I guess then you're
15:19
also looking at people's own individual
15:22
circumstances and working out then
15:24
whether a nomad Visa is right or whether
15:25
a golden Visa might be better uh and and
15:28
tell us a little bit more about the
15:29
golden Visa this is the one I mentioned
15:31
that we've been hearing quite a lot
15:32
about that it's finishing but it doesn't
15:34
look like it is anytime soon and they're
15:36
still going through and they go through
15:37
very quickly as well yeah well this is
15:39
another example that we had I think it
15:40
was yesterday appointment I mean some
15:42
that wants to well buy a property over
15:44
500,000 but they still need to sell the
15:46
property in in this case in the UK and
15:50
okay well um through that time but they
15:52
want to move they want I mean I I
15:54
suggest I make some questions regarding
15:56
that that and then I underst that he
15:58
could apply for NAD visa and maybe
16:02
obviously if someone thinks about I'm
16:03
going to buy a property of more than
16:04
500,000 years but what if they find
16:06
something of $400,000 because it could
16:09
happen I mean some it doesn't reach the
16:10
magic number well exactly I mean what if
16:12
you or I mean what if you negotiate
16:14
because I always recommend to clients
16:16
whenever they going they're going to buy
16:17
property try to negotiate over the
16:21
price and well I mean golden Visa right
16:24
now it was announced some weeks probably
16:26
a month ago that it was going to be
16:29
eliminated but obviously this going to
16:30
take a lot of time the reason and I will
16:32
explain it briefly the reason why the
16:34
president pet Sanchez he announced that
16:36
he was going to eliminate it it was they
16:39
understood is affecting to the young
16:41
people to have access to buy properties
16:45
well let me give you a number on 640,000
16:48
transactions that are in Spain per
16:51
year uh .1% of them are included in the
16:55
golden visa and of those 01 0.1 % that
16:59
are included to apply for Golden Visa
17:02
90% of
17:04
them are properties which are over
17:07
500,000 because on the golden Visa you
17:09
can buy one property of 500,000 500,000
17:13
but you can also buy three properties of
17:15
€200,000
17:16
included but most of the properties that
17:19
are included in the golden Visa are over
17:23
500,000 young people do not access the
17:26
first house to that so it's going to has
17:29
instructed right now the ministry of
17:30
house let's say his
17:32
Minister I don't know how to translate
17:34
that housing Ministry and well I I never
17:39
think that he's going to say that it's
17:40
affecting to young people to have access
17:41
to property but we'll wait now uh the
17:45
British Embassy just recently were
17:47
talking about the ti card it was
17:49
something that I thought perhaps pretty
17:50
much everybody had done but according to
17:53
them there are still quite a lot of
17:54
people who haven't changed their green
17:56
residency initially it was said that you
17:58
didn't have to don't worry about it too
18:00
much but there's a new electronic entry
18:02
system coming in at the airports at some
18:04
point we don't still don't have an exact
18:05
date but they are saying that really uh
18:08
you need to change it from the green one
18:10
to This Ti um which uh initially there
18:13
were a lot of stories about how
18:15
difficult it was to to get that uh that
18:18
card sorted out but I think it's eased
18:19
up somewhat yeah I mean it's something
18:21
that we've been recommending from the
18:23
very first beginning obviously something
18:25
that um you identify yourself obviously
18:27
is is is more control but at the
18:29
beginning you don't you didn't need it
18:30
obviously one you show that you are
18:32
residen is is perfect but obviously I
18:35
understand obviously the systems and
18:36
administration they want to in some
18:38
terms of control Tech who who is here
18:41
who is not about this obviously this
18:43
identification cut obviously the the
18:46
administration in in in the UK is saying
18:50
that obviously something that it's been
18:52
the last years it's been a lot of people
18:54
applying but we understand it's a lot
18:56
that it still has not apply for and we
18:58
have a lot of uh in these cases to prove
19:01
that you've been uh here in Spain to
19:03
apply for that is something that
19:05
obviously is getting more more time so
19:07
it's getting more difficult more longer
19:09
yeah and uh well and sometimes we have
19:11
had some difficulties we need to appeal
19:14
I have to say that we have won all the
19:15
cases at the end we win that's
19:17
interesting isn't it because my own
19:19
situation it took a few times um before
19:22
them to uh agree uh on everything that
19:25
we told them I mean this is a few years
19:26
ago when it first came out we had to do
19:28
it
19:29
um and um obviously I was quite worried
19:31
about this but um generally the idea was
19:33
well don't worry about it we just we put
19:34
it back in again and even if it gets
19:37
rejected we'll put it back in again and
19:38
see what happened and actually twice
19:40
mine was um and for no apparent reason
19:43
but um eventually it does happen yeah
19:46
sometimes obviously it's a good strateg
19:47
I mean sometimes it probably doc are not
19:49
correct probably something is being
19:50
attached is not correct about insurance
19:52
or what 0s about proving that you were
19:54
here I mean health insurance tends to be
19:56
one that that seems to come up doesn't
19:57
it perhaps insurance for long that's
20:00
right that's right they say a and well
20:03
sometimes is is before you make an
20:05
appeal wherever it is I mean just just
20:07
check about the the documents and and
20:09
apply again we' done it sometimes and
20:12
with some clients and it's okay yeah and
20:14
it's it's straightforward I think gathia
20:15
was telling me that um you do have some
20:17
contacts as well that um if somebody's
20:19
perhaps lost and I know a number of
20:21
people have lost their green original
20:23
residency um that actually now you do
20:26
have contacts who can perhaps Trace uh
20:28
somebody through their ni if they if
20:31
they don't have that green paperwork
20:33
anym it's possible it's possible no no
20:35
worries about that yes absolutely I mean
20:37
at the end it's obviously at the end in
20:40
in those specifications that obviously
20:42
someone has to prove that he's been
20:43
living here before in this case before
20:46
2020 I mean it's something that uh if
20:48
something is L obviously we can get back
20:49
to that and immigration offic is right
20:51
now everything is let's say
20:53
electronically the B databases is is
20:55
okay we can have access to to all of
20:57
that yeah is it does it still take quite
20:59
a bit of time to get the ti through yeah
21:02
but but appointments right now we have
21:04
um um uh Cony which is a fantastic
21:07
fantastic uh staff uh she's looking for
21:10
appointments and looking for you know
21:12
the two B taking around let's say around
21:14
between two and weeks one month in order
21:16
to make the appointment once you have a
21:17
positive resolution that's not too bad
21:19
actually though actually you know it was
21:21
was quite a lot
21:22
longer in the past it's been more or
21:24
been a lot more I mean it depends I mean
21:26
I've said that but it depends really on
21:28
the time maybe right now is increase the
21:30
delayment or maybe increase it but is
21:33
getting that time then of course we'll
21:34
be coming up to August as well where
21:35
things go A bit quiet so yeah but at
21:38
least there it's a bit quicker than it
21:39
was and there are you know options for
21:41
people who perhaps you know have mislaid
21:43
that green um original residency uh and
21:46
if you can't find it um you you can
21:48
still perhaps uh get yourself sorted uh
21:51
by talking to pel there and Heria you
21:54
can Google uh as always alakan lawyers
21:57
all one word es um and find out more
22:01
about that and indeed any of the other
22:03
things we've been talking about and if
22:05
you haven't sorted your tax get it done
22:08
it needs to be sorted good to talk to
22:10
you thank you very much
22:11
indeed catch up again soon take care
22:14
Pedro thank you
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