Exactly one year has passed since a document published by Spain. legal framework prepared in accordance with the needsinitiatives‘. Since then, more than a thousand companies have requested this service. public investment company Enisa obtain the certificate that accredits them as such. This seal is a gateway to many things. tax benefits and incentives a person who takes the law under his arm. The most important of these is the definition itself, but also the reduction in Corporate Tax, Social Security bonuses or visas for foreign entrepreneurs.
Definition of ‘beginning’
With this law coming into force, startups will be able to request a certificate that accredits them. This not only gives them credibility with potential investors. Seal confirming its innovative character and growth possibilities. But it also establishes the definition of what is considered a ‘startup’: An “innovative and scalable project” with a turnover of less than 10 million euros and a lifespan of no more than five years. This last point is one of the debates: The industry generally says that such companies need much more time than the incentives provided by the law.
Improvements to ‘stock options’
The word will seem incomprehensible to those outside this sector, but within the ecosystem this is one of the most talked about topics of the law. ‘Stock options’ are shares that many companies give to employees as payment. The rule increased the limit on which this employee was liable to pay tax when this package was sold (or the company went public) from 12,000 euros to 50,000 euros. Investors see little of this, and some entrepreneurs consulted think it is unimportant: here, it seems, they get more.ghost sharing‘ Another formula for giving shares to workers.
Corporate tax and bonuses
Since this year, developing companies based on technology pay Corporation tax 15%, not 25% like the rest of Spanish SMEs. They can benefit from this discount for a maximum of four years, starting from the first year they make a profit. In this regard, in order to avoid double tax payment if the entrepreneur starts to establish the company while working for someone else, Social Security gives entrepreneur a discount on self-employment wages for three years.
Visas for foreign professionals
Another big change is its appearance. New visas to facilitate the arrival of entrepreneurs from other countries or technological profile employees. For example, a “visa for digital nomads”. These people are also allowed to pay taxes. Non-Resident Income Tax for five years, but only if they have not chosen this option in the last five years (there were ten before the law) and are engaged in a qualified economic activity or work or provide services in a start-up.
Deductions for investors
The standard also personal income tax deduction when investing in such companies. Starting this year, a person who buys shares in a startup will be able to deduct up to 50% of the amount they paid (previously it was 30%). Maximum base ranging from 60,000 to 100,000 Euros. Additionally, if foreign investors support a Spanish company, they will be excluded from their mandate. get NIE: Now the only requirement is electronic application. tax identification number (NIF).