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Spain is a dream country for many people! Unfortunately, Spanish taxes are quite high.
Is there something to do about these high taxes? The good news is there is! If you're a foreigner.
We present to you The Beckham Law! (also known as the special regime for displaced workers - Régimen Especial para Trabajadores Desplazados in Spanish)
This is one of the most effective ways to pay less tax in Spain.
The Beckham law in Spain is a special tax regime that enables foreigners who move to the Spanish territory to pay a flat fee of 24% only on the incomes they obtain in Spain instead of a progressive tax on their worldwide incomes (19-45%).
So, basically, this special tax regime for expats make it possible to end up paying much lower taxes, hence being able to save huge amounts of money. It allows all the workers who reside abroad that want to come to work in Spain to pay income and wealth tax as if they were non-residents during the first 6 years.
This normative is regulated on section number 93 of the Spanish Income Tax Act and was published in 2004.
It was created to attract talent and qualified workers into Spain; and got its name after the famous football player David Beckham (the first one to take advantage of it).
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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