Digital Nomad Visa - Tax

I'm currently employed in UK company working for them remotely as a subcontractor for one of their global clients


I pay 40% Tax in the UK


I am moving to Tenerife and will apply for the Digital Nomad Visa


Apparently if I have the digital nomad visa and I'm working from Spain then I can pay just 24% Tax in Spain - is that right?


Which conditions then would o have to meet in order to make this happen?


As I am a remote worker then I'm sure the UK company will allow me to work for them fr9m Spain


Thanks for any info

@Djmorphogen


Welcome to the expat.com forum and good luck with your potential move to Spain!


The DNV is very new, but it seems to me that you meet the requirements, so I doubt it will be a problem. The NLV (No Lucrativa Visa) might also be possible if you have over 29k of savings, so you might want to consider this too (I'd personally prefer it).


There is nothing stopping you from using your UK passport (with visa-free travel of 90 in 180) to start house-hunting (or remote working) in Tenerife tomorrow. But most folks will apply for their visa at the Spanish Embassy in London first, and then relocate after it has been granted.


The favourable tax treatment you mention is an election made by any new resident (not just digital nomads) via Beckham's Law.


https://www.lullius.com/en/new-spanish-digital-nomad-tax-regime/


https://www.lullius.com/en/new-spanish-beckham-law-for-expats/


https://www.blevinsfranks.com/spains-new-digital-nomad-visa-whos-eligible-and-the-tax-benefits/


https://centregestor.es/en/how-does-the-beckham-law-work/

@Djmorphogen


Just found this link too. Balcells normally have very good info, and this is their page about the DNV.


It says you can go straight to Tenerife and apply for this visa there instead of at the Spanish Embassy in London. Even better, it will then be issued for 3 years instead of 1 year. And it says that the DNV can also be extended to 5 years (at which point you should qualify for Permanent Residence). Taken together, that's better than the NLV.


https://balcellsgroup.com/digital-nomad-visa/