UPDATE: When will Spain's new startups law come into force?
Now that the Spanish Parliament has finally approved the country's new startups law, when can foreign entrepreneurs and digital nomads expect the legislation to actually come into effect?
Many remote workers have been waiting with bated breath to find out when they may be able to come and work in Spain by taking advantage of the country’s new startups law.
After a 16-month-long legislative road, Spain's much anticipated Ley de Startup was finally approved in the Spanish Parliament on Thursday November 3rd, 2022.
Simply put, the law aims to attract international investors, digital nomads and new companies to Spain with visa incentives, tax breaks, fewer bureaucratic hoops and other benefits.
READ MORE: 15 things you need to know about Spain’s new startups law
Originally proposed back in 2019, the law has received 271 amendments during its journey through the Committee on Economic Affairs and Digital Transformation, the Spanish Cabinet and now the Spanish Parliament.
The last step before it comes into force is for it to be ratified by the Senate. Given the support the bill has already received from most political parties, this looks very likely to go ahead without issues in the coming weeks.
So when will the legislation be published in Spain’s state bulletin BOE and therefore come into force?
The Spanish government's aim is for the startups law to come into effect on January 1st, 2023.
MPs belonging to Spain’s right-wing popular party were outliers by not voting in favour of a law which received widespread support across the country’s political spectrum during Thursday’s parliamentary session.
They argued that the law could have been more far reaching, but there are also reports that some MPs mistakenly voted against the legislation.
What seems clear is that after so many amendments and a long wait for the legislation to finally come to fruition, it seems unlikely that any politician will want to put a spoke in the wheel of a bill that’s been described as “pioneering” and necessary. As a member of centre-right party Ciudadanos put it, the law is "a bit late".
The startups bill also includes a clause which says that the new fiscal measures will apply in the June 2024 annual tax declaration which deals with tax from 2023, a point which again suggests that Spanish authorities will do their best to ensure the startups law is up and running on January 1st of next year.
The Spanish government initially said the law would come into force in the second half of 2022, but consistent changes have delayed the launch.
Back in October, Prime Minister Pedro Sánchez admitted there were obstacles faced by entrepreneurs and reiterated his commitment to “change laws where there are inefficiencies" and to “eliminate barriers", as well as to adapt rules so that Spain can compete internationally.
"I am aware that there is still a lot to do", he said, whilst at the same time acknowledging that the law does not achieve 100 percent of its objectives.
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Many remote workers have been waiting with bated breath to find out when they may be able to come and work in Spain by taking advantage of the country’s new startups law.
After a 16-month-long legislative road, Spain's much anticipated Ley de Startup was finally approved in the Spanish Parliament on Thursday November 3rd, 2022.
Simply put, the law aims to attract international investors, digital nomads and new companies to Spain with visa incentives, tax breaks, fewer bureaucratic hoops and other benefits.
READ MORE: 15 things you need to know about Spain’s new startups law
Originally proposed back in 2019, the law has received 271 amendments during its journey through the Committee on Economic Affairs and Digital Transformation, the Spanish Cabinet and now the Spanish Parliament.
The last step before it comes into force is for it to be ratified by the Senate. Given the support the bill has already received from most political parties, this looks very likely to go ahead without issues in the coming weeks.
So when will the legislation be published in Spain’s state bulletin BOE and therefore come into force?
The Spanish government's aim is for the startups law to come into effect on January 1st, 2023.
MPs belonging to Spain’s right-wing popular party were outliers by not voting in favour of a law which received widespread support across the country’s political spectrum during Thursday’s parliamentary session.
They argued that the law could have been more far reaching, but there are also reports that some MPs mistakenly voted against the legislation.
What seems clear is that after so many amendments and a long wait for the legislation to finally come to fruition, it seems unlikely that any politician will want to put a spoke in the wheel of a bill that’s been described as “pioneering” and necessary. As a member of centre-right party Ciudadanos put it, the law is "a bit late".
The startups bill also includes a clause which says that the new fiscal measures will apply in the June 2024 annual tax declaration which deals with tax from 2023, a point which again suggests that Spanish authorities will do their best to ensure the startups law is up and running on January 1st of next year.
The Spanish government initially said the law would come into force in the second half of 2022, but consistent changes have delayed the launch.
Back in October, Prime Minister Pedro Sánchez admitted there were obstacles faced by entrepreneurs and reiterated his commitment to “change laws where there are inefficiencies" and to “eliminate barriers", as well as to adapt rules so that Spain can compete internationally.
"I am aware that there is still a lot to do", he said, whilst at the same time acknowledging that the law does not achieve 100 percent of its objectives.
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