Málaga ranks as the third most popular destination in the world for digital nomads, following this article from the newspaper Diario Sur. Only Dubai and Abu Dhabi remain ahead, both with no income tax.
To better understand Málaga’s roaring success, one needs to peel off the different layers (at a local, regional and national level) which have contributed towards it:
- At a local level: Málaga has a slew of advantages, besides its mild weather, as highlighted in my article of 2021, Málaga following in the footsteps of Southern California. Málaga’s unique advantages are attracting foreign companies and talent from all over the world who are now making large investments in the city and the region. In fact, the government has pledged to spend €1.5bn in Malaga’s airport to effectively duplicate its existing capabilities.
- At a regional level: In addition to the advantages offered above by the province of Málaga and the city itself, we also need to add on top all the regional tax advantages offered by Andalusia, where Málaga is located, such as no inheritance tax for estates under €1mn (over and above, get taxed at only 1%) and generous gift tax. All these tax benefits compound to make Andalusia an ultra-low tax region at the heart of Western Europe. These tax changes come on the wake of the ‘tax revolution’ that its regional administration has been busily implementing since it stepped into office in 2019.
- At a national level: And to close, last but not least, we also need to add as a third layer the unique tax advantages of Digital Nomad Visas (dubbed as the tax-free visa), which have all the tax benefits offered by Beckham’s Rule. Chiefly, an ultra-low income tax is applied to these privileged visa-holders, and any assets abroad Spain go untaxed (you don’t even need to declare them)!
When all three layers above work in tandem, they create an ultra-low tax area that attracts talent and HNWIs from all over the world. This goes on to explain why Málaga has become such a sought-after destination. And don’t even get me started on the buoyant real estate market, which is appreciating by two digits year-on-year!
Málaga was recently voted by 12,000 expats in a poll as the second-best place to live and work in the world.
At LNA, we can assist you, and your family, in securing a Digital Nomad Visa in under 3 weeks. We can also assist you buying, selling or renting property.
Call us, and speak to one of our friendly staff!
LNA has a 100% track record of attaining Spanish visa & residency permits since 2013. We have assisted over one thousand satisfied visa clients and their families.
At Larrain Nesbitt Abogados (LNA) we have over 22 years of experience specialising in taxation, and property conveyance. We also assist clients with immigration & residency visas and inheritance procedures (probate). You can contact us by e-mail at info@larrainnesbitt.com, by telephone on our UK line (+44) 0754 3838 218 or Spanish line (+34) 952 19 22 88, or by completing our contact form.
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