Entrepreneur Visa for Spain

Another question..... in the USA we create LLC (Limited Liability Company) entities for a business. What is the equivalent in Spain?

Keep thinking of more items!!!

If I earn income in Spain for sure I don't mind paying tax on that to Spain but if I earn income in the USA & am paying tax on it in the US I'm hoping that Spain allows me to receive the remaining after tax income in Spain without having to pay tax on it again?

yes the entrepreneur may be right for you and they are approved very quickly too, I have heard within 20 days.  There is also such a thing as the golden visa as well.  check both out.

Thank you! I had a brief look at the Golden Visa program but I don't think I would want to commit to spending 500,000 Euro on a real estate investment. If we buy we'd like to keep it to less than that if possible. Once we start looking at property we'll know if that's going to be feasible.

Both Spain and the US require you to report worldwide income. You pat taxes to the country that is your tax home, basically where you reside (see 1040 information). Spain and the US have a tax treaty so you are not doubly taxed. Most people living in Spain are in a higher tax bracket than in the US, and in this case, the IRS will return money withheld from paychecks or retirement withdrawals. In the end you pay more taxes in Spain, but if you are a resident and eligible for national healthcare, you get that benefit. There are other benefits such as good mass transportation, good universities that are inexpensive, a generally safe society, etc. that in my opinion make up for the higher taxes one pays here.

Thank you! Good feedback. As long as there is no double taxation I'm good with that. The reduction in medical insurance costs sounds like it's going to make up for any increase in tax. Also, isn't property tax quite low in Spain vs the USA?

You first should read the article which have been provided on this forum. HERE
Freedom of Movement, if you're a national from one of the countries in the European Union will allow you to live in Spain and then there are certain criterias to meet.

Thus if you cannot obtain citizenship/passport of an EU country the only way to live/stay long term in Spain is with a via a long term visa if you go self employed.
http://www.exteriores.gob.es/Consulados … Visas.aspx
That would mean applications for 2 visas.
This is how you set yourself up as an Autónomo

I do not know anything about property sales all I do know that the market is not so buoyant.
You would not be able to drive unless you resit your driving test (in Spanish) Driving on a IDP whilst living in Spain I think is illegal the law states you have to exchange within a certain period of time after registering that you live in Spain. You will them loose your US DL!
I have written a fair bit about runnign a B&B in answer to another question. Each autonomous community has different laws on this subject so how you obtain permission and licence depends on where you finally settle down. Read this.

Answers to your questions.
1) Each self employed person pays into a fund to cover pension and health coasts.
2) Visits to the doctors are free of costs.
2) Property taxes are set by the local council. It will be determined by size of house and if you run a business from the said property. Best ask when you have found something.

Depends on where you live, when the home was constructed and other factors, but generally it is less. As an example, we live in the San Anton neighborhood in Alicante, and have a home that sits on two city lots. For the old part of the home, which my wife bought as an abandoned building in the late 1970s, we pay 190 Euros per year, the newer construction whch is considered a separate home is assessed at 400 euros per year. I have a home in Rio Rancho in the US, that I pay about $2000 per year on in taxes, and get nothing for that. The value of pur home in Alicante is considerably more than the one in Rio Rancho.

Thanks! I had heard from a few people that the property taxes in Spain were a lot less than here in the USA and you've just confirmed it. That sounds really good.

But I've also heard that in addition to the purchase price of a house you have to pay approximately another 12% in transfer fees and other closing costs. That's WAY more expensive than it is here in the USA if that's correct. I think here we pay maybe 1.5% in closing costs as a buyer, 1% for loan origination and another 0.5% in some other closing costs.