NEW DEVELOPMENTS LAW 28/2022 OF DECEMBER 21 TO PROMOTE THE ECOSYSTEM OF EMERGING COMPANIES OR “START UPS” CONCERNING THE TAX REGIME FOR IMPATRIATES

The new Start-Ups Law 28/2022, of December 21, incorporates important new features with respect to the Special Regime for workers posted to Spanish territory (impatriates).

The Third Final Provision, paragraph 5 of the Law introduces a series of amendments to Article 93 of the LIRPF (Personal Income Tax Law) which regulates the Special Regime for Impatriates that facilitate the fulfillment of certain requirements, as well as the incorporation of some options to attract entrepreneurs and digital nomads:

• The period of non-residence in Spain prior to the year of displacement is reduced from ten to five years.
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• Until now, the reasons for relocation only contemplated physical relocation due to the beginning of an employment relationship or the acquisition of the status of administrator of a company (with a shareholding of less than 25%). The new text, with the aim of attracting the so-called "digital nomads", adds the case of work activity provided at a distance (teleworking) through the exclusive use of telematic means and systems. In particular, this circumstance will be understood to be fulfilled in the case of employees who have a visa for international teleworking.
• The acquisition of the status of director of an entity, regardless of its shareholding in the capital stock, is added to the circumstances of moving to Spanish territory that give the right to opt for taxation under the Special Regime (although the condition of a shareholding of less than 25% is maintained for directors of asset-holding companies).
• Other additional circumstances are that the movement is carried out as a consequence of the performance in Spain of an economic activity qualified as an entrepreneurial activity, as well as the movement of a highly qualified professional who provides services to emerging companies.

We remind that taxpayers who choose to be taxed under the Special Regime for Impatriates are subject by real obligation to Wealth Tax (assets and rights located exclusively in Spanish territory).

Finally, it is allowed to extend the option for the special regime for impatriates to the spouse and children of 25 years of age (any age if they have any disability), displaced with the taxpayer or who do it later, within the year in which the taxpayer is taxed under the special regime.
 
At FELIU N&I we can help you with the novelties of Law 28/2022 on emerging companies or "Start Ups", you can contact us at the email comunicacion@feliu.biz or call 93 875 46 60.