Spain
Beckham Law for new arrivals — but wealth tax, regional rates and the Golden Visa closure complicate the picture.
The position in figures.
Headline treatment for an individual tax resident. Source, asset and treaty rules can change the payable result.
Where the jurisdiction fits.
Best for
- New arrivals (non-resident 5 prior years) electing Beckham Law: 24% flat on Spanish-source up to €600k, exemption on most foreign-source for 6 years
- Madrid- and Andalusia-located residents (heavily reduced wealth and inheritance tax)
- EU citizens valuing lifestyle and infrastructure
Consider carefully
- Anyone with significant passive worldwide wealth — solidarity tax on assets above €3M bites
- Buyers expecting the Golden Visa — closed in April 2025
- Crypto-active traders — Modelo 720/721 reporting is intense
Programmes that matter.
Beckham Law (Régimen de Impatriados)
24% flat on Spanish employment income up to €600k (47% above) for 6 years. Foreign-source income largely exempt. Available to new tax residents who have not been Spanish-resident in the previous 5 years and who relocate for work or to a Spanish-incorporated startup.
Digital Nomad Visa
For non-EU remote workers earning ~€2,650+/month from non-Spanish clients. Renewable, leads to permanent residence; combinable with Beckham Law in many cases.
Pitfalls to resolve early.
- 01
The Golden Visa closed to new applicants on 3 April 2025.
- 02
Wealth tax + temporary solidarity tax can mean an effective 3.5%+ annual drag on portfolios above €10M depending on autonomous community.
- 03
Beckham Law excludes self-employed founders unless they relocate to a Spanish-incorporated startup meeting innovation criteria.
- 04
Modelo 720 and 721 reporting on foreign assets and crypto carries severe penalties for omissions, even after the EU forced relaxation.
- 05
Autonomous community matters enormously — the same income/wealth can be taxed at very different effective rates.
Direct answers.
How does the Beckham Law work?
New residents who were non-Spanish-resident for the prior 5 years can elect a 24% flat rate on Spanish-source employment income up to €600k for 6 years, with most foreign-source income exempt.
Did Spain close the Golden Visa?
Yes — the real-estate-based Golden Visa closed to new applicants on 3 April 2025. Existing holders retain their permits.
Is there wealth tax in Spain?
Yes — autonomous community wealth tax (heavily reduced or zero in Madrid/Andalusia) plus a temporary federal "solidarity" tax on assets above €3M (1.7–3.5%).
Can I avoid Spanish wealth tax by living in Madrid?
Madrid has a 100% wealth-tax bonification, but the federal solidarity tax was introduced specifically to capture residents in those communities.
Continue the comparison.
Put Spain against your current position.
See a first-order comparison, then bring the open questions to your advisor.