The Congress of Deputies yesterday approved the startup law to send it to the Senate for the final procedure. After the latest changes introduced, investors and independent professionals will be able to take advantage of the inpatriate regime with which they will pay income tax at 24% for five years and without paying wealth tax. This will happen as long as 40% of its turnover is associated with activities in the knowledge economy or startups. Barcelona Global, which was one of the promoters of this legislative text, highlights "that a door has been opened", but considers the percentage of accreditation should be eliminated, as well as extending the duration of the special tax regime to 10 years "so that inpatriates They can settle down with their families. "Architects, lawyers, advisers, consultants and artists will be able to come to Spain in better conditions, when they were taxed as a resident and for assets generated abroad, something unique in Europe", they celebrate from Barcelona Global.
Another novelty is the treatment of the remuneration of the stock options. This form of worker payment is very common among startups that, at a time of growth, thus avoid large outlays.
From now on, whoever has these options on shares of the emerging firm will pay taxes only when they execute them, that is, at the time of their sale. In addition, up to 50,000 euros, the stock options will be exempt from taxation. Another claim was to facilitate the bureaucratic issue of access to the NIE (foreign identification number). The law will extend the term up to six months to obtain it, to expedite the hiring. Likewise, foreign students will be able to access a work permit during the two years following the completion of their studies.
Enisa will be the public entity in charge of determining the status of an emerging company. But an administrative silence is introduced after three months, which improves administrative agility.
“The startup law is a very important advance, good news for the sector. It is a recognition of innovation and entrepreneurship as generators of talent and drivers of the growth of our economy. It is a very good first step, now we must continue looking for more attractive formulas that improve our position as a benchmark”, comments Ignasi Costas, partner responsible for innovation and entrepreneurship at DWF-RCD, and general secretary of Tech Barcelona
