Moving To The Canary Islands has become ever popular within digital international nomad communities, along with Fuerteventura, the second largest of the islands. It is currently positioned to take over the crown as one of the nomad’s favourites.
With balmy temperatures, this year-round island is situated off the Western Sahara and Morocco coast and is cooled by the turbulent winds that have given rise to this island’s name. About 25 kilometres wide and 100 kilometres long, it is a great deal smaller than Tenerife, and it is a lot less dense. It is one of the draws for people that love watersports and surfing around coastal spots, while the valleys and mountains include a sparse population, along with protected areas. Many tourists enjoy spending days trekking or driving through this interior due to the tranquillity and peace that it brings.
Corralejo, just to the north that overlooks Lanzarote, is the best-known resort on the island, while Puerto del Rosario is an administrative center that offers good communications and infrastructure, with around 40,000 inhabitants.
Betancuria, a stunning whitewashed village with narrow streets and flowers, boasts charm for people in search of a more peaceful life.
The nomad community is sizable in this area, with many attracted to the chance of combining work with various watersports, with many co-living spaces and co-working opportunities.
What You Need To Know Before You Move
The population is small which is why some things are not as available as they would be in bigger cities, for this reason, you will need a car while living on this island.
The rental prices for accommodation are also higher when compared to mainland Spain and since it is one of the touristy areas, the living costs are also higher. Fortunately, the “special tax” status has made alcohol, petrol, and various luxury items such as perfume a lot cheaper, so it’s comparable overall.
The Best Places To Live
The northern part of this island is more densely populated, which means it has more amenities. El Cotillo, Lajares, and Corralejo are the most popular.
In the south part of this island, many nomads and expats prefer to reside around Gran Tarajal, Costa Calma, and Morro Jable. The vibe in the southern part is laid-back and quieter.
Legal Requirements
If you are one of the EU citizens, you can enjoy unlimited movement through the Schengen Area, which includes the 26 countries that form part of the EU that have since done away with passport controls. These include Switzerland, Sweden, Spain, Slovenia, Slovakia, Portugal, Poland, Norway, the Netherlands, Malta, Luxembourg, Lithuania, Liechtenstein, Latvia, Italy, Iceland, Hungary, Greece, France, Finland, Estonia, Denmark, the Czech Republic, Belgium, Austria, and Germany.
Digital Nomad Visa
The Spanish Government currently has on its proposed legislation timetable a proposal for Digital Nomad Visas. This is expected to reach Parliament by Autumn and should be one of the subjects of amendments and discussions, which means it might become law by Spring.
It is aimed mainly at Spainards that have lived out of the country for five years or more and non-EEA nationals (British included).
Will The Digital Nomad Visa Include Tax Benefits?
Yes, this happens to be among the main draw cards of this new visa. Applicants that are successful would then become eligible for reduced rates of “non-resident” income tax. Rather than paying the 25% usual rate, holders of Spanish Digital Nomad Visas would only need to pay 15% for as long as four years. Expats or foreigners that are successful in securing the new visa type in Spain will also be able to include family members that are close such as children and spouses in the provisions of the visa.
What Are The Requirements For A Digital Nomad Visa?
Foreigners that come from any of the third-party countries, which includes the UK, are allowed to apply for the Digital Nomad Visa when they are working for a company that falls outside of Spain. Their work for any of the Spanish Companies is not allowed to exceed 20% (of the total).
They would need to prove the following:
- They have been working remotely for a minimum of a year
- The work they carry out can be done remotely
- If they are contracted to a company, they will need to prove they have had a relationship that is professional with this company for a minimum of 3 months and that this company allows remote working
- If they are freelancing, at least 1 of the companies needs to be outside of Spain, and they would need to provide all the “terms and conditions” relating to the remote work
Other Non-EU Citizens And UK Citizens
For the citizens of other non-EU countries and the UK, the other option involves buying a property. The one-bed apartments available in Fuerteventura start from €60,000 upwards, while the 2-beds start from around €100,100.
Sorry to mention the B-word, but Brexit has resulted in a few changes.
When you remain as one of the tax residents of the UK and provided you have complied with the necessary requirements mentioned above, you can own a property in the form of an overseas investment. We do recommend that you seek professional advice in order to make sure you are complying with Spanish laws.
And if you still want to relocate to Spain and you plan to purchase a property “as an investment”, you should rather look into what is known as a Non-Lucrative Visa or a Golden Visa.
Golden Visa
The Golden Visa is the most straightforward and simplest way to do it. It will require an investment in property of over €500k but it basically provides just about all the rights you would have enjoyed pre-Brexit, which will include rights to move freely around the Schengen Zone and start up a business.
Non-Lucrative Visa
You can apply for a Non-Lucrative Visa in Spain as a single person when you can prove you have €2,150 net per month that you can live on. If you are a couple you can apply when your net earnings are around €2,800 per month.
After paying your mortgage, rent, or any other costs relating to accommodation, this will mean you will have enough money for other living expenses in Fuerteventura based on those figures. If you are earning above the required minimum levels based on the Non-Lucrative Visa, you can enjoy a very enviable lifestyle if you decide to move to Fuerteventura.
And if you buy a property outright, which means you have no rental costs or a mortgage, then these minimum figures for a Non-Lucrative Visa will look extremely attractive for relocating to the Canary Islands.
Hire A Professional Removals Company
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