If you're looking at moving to Spain and need visa help, book a consultation with Bureacracy immigration experts and get a special discount using my link! www.bureaucracy.es/millennialswithmoney
Many say being self-employed in Spain is not worth it or too difficult. But I lived in the US for 16 years and found it more difficult and expensive. Why? Healthcare. You have to pay your own insurance, which for a family can be close to $2k a month. I am just starting as a freelance writer and am fine paying 300 Euros a month if it includes healthcare coverage. It is still cheaper.
I’m a resident, and I have always previously been self employed when I used to live in the UK so I guess I’d like to go self-employed here… but the cost is terrifying 😂 Things I do come under multiple sectors. I’m an artist, but things I have done previously would fall under everything from working with clients in art/film/photography, content creation, online shop, coaching/teaching, etc. etc. so I don’t have a clue what I’d even register as haha. It’s all very overwhelming.
@@ZinziMaya I feel that! It’s possible to have multiple activities and you’ll only pay the autonomo fee based on your total income across all your difference activities, a gestor will be able to help you with the appropriate epigrafes. Hope this helps!
@@MillennialsWithMoney Thank you! I’m looking into it all, want to make sure I’m actually prepared before I register so I’m not paying unnecessarily before I’m ready to go haha. So confusing, thank you for this video.
Just got my permiso de trabajar como autónomo last week and now I gotta quickly figure out how to do my taxes by the end of this month ☠️ you’re channel is amazing! Thank you so much! If you’re in BCN lmk I’ll buy you a beer as a thank you hahaha
Hey man I found your channel a few days ago. Would it be possible to do a video on moving to Spain as a freelancer. So many different things online as far as finding housing, registering for NIE, empadronamiento and what’s needed as a freelancer etc
Freelancer online or in person? Remotely you’d be best to open a company in Estonia or the like. Local freelancer you’d have to go the ‘dinero negro’ cash in hand route or official autónomo. For NIE, apportionments are scarce. Find an agent online to book the appt for you, it’ll save you trouble.
Thanks so much for the video! Thinking of moving to Spain as an autonomo in 2024 (EU citizen). Did I understand it right though that the Soc. Security payment includes a (basic) medical insurance, pension payment as well as unemployment insurance? Because the amounts are still a LOT less than what we pay here in Germany.
Thanks for watching Stefanie! If my understanding is correct, Social Security contributions give you access to public healthcare, unemployment after a certain time (I think one year), however a spanish state pension requires many years of contributions to be eligible. Very surprised to hear that there are places with even higher amounts than Spain!! Hope this helps!
@@MillennialsWithMoney thanks so much. Not expecting to get a pension after a year of paying SS :-) but its good to know that its "all-in-one". In DE, you pay 19% of your income just for your med insurance, which could esaily amount to 850Euros a month! So yes, Spain has a better option indeed.
I’m shocked regarding the monthly cost of it.. someone making under 670€ pays 225 a month, but someone making over 6k pays only twice as much.. Such high cost for low earners, doesn’t make it easy to get things started?
Hey! Got a few questions about registering as autonomo as an online tutor (I have a PhD in physics/biomterials): I'm Polish, trying to register in Valenica. I have already: NIE (just the number on a paper stamped by the immigration office) Padron in Valencia Private health insurance that covers me in Spain with no co-pays Spanish bank account (with upwards of 12k eur on it) EU passport/ID card I read that I have to go to the tax office, fill out a 037 form, and then bring documents from the tax office to register with social security. Then I can register as autonomo. After have all of the documents I listed above plus the registration as an autonomo, will that be enough to become resident here in Valencia, even before I have acquired any income or clients? Or do I need to show that I have already earned money as an autonomo and show that I have a certain lump sum/regular income from my self-employed work? Not sure what financial situation is expected of me. Thank you in advance!
Hi Katherine, thanks for watching! It looks like you’re well underway with the residency process! As an EU citizen financial requirements are relatively low, so if someone can prove sufficient savings or minimum wage income (I think 7,200€ in savings or 600€ a month income) then it shouldn’t be a problem to register as a resident. Hope this helps and good luck getting registered! Sounds like you’re well on the way to getting it done😁
Great video! Appreciate your insights on the taxes self employed people need to pay. I do have a question though , what if you stay less than 183 days in spain, would this exempt you from paying taxes? Also if you have a DNV in spain and stay less than 183 days, would your DNV get automatically cancelled ?
Thanks Michael! Tax and physical residency are different, my understanding is that the DNV wouldn’t necessarily be cancelled but staying less than 183 days could impact tax implications, I’d check with a professional to understand the specifics of your case. Thanks for watching!
Clarification: Cuota Cero is still not available for most, as it requires having been an autonomous worker for at least one year, after that you can apply for it and then receive such Cuota Cero. It is practically useless as anyone who has been self employed in Spain for more than a year is not a beginner, so they way they marketed it is truly just for political gains.
Hey Great video. Super informative. I am considering this, however I noted that you need to provide proof that my business would help the Spanish economy. As a self employed travel agent, would you say it is possible to say selling holidays to UK citizens to Spain would be sufficient?
@@liamcaffrey1741 thanks for watching Liam!! Generally speaking getting a self employed visa is very challenging as I understand as it also has to be somewhat unique. If you’re able to sell holidays to clients elsewhere in the world then you could perhaps look at the digital nomad visa though which doesn’t require submission of a business plan. Hope this helps!
Hi! Such a great video. If you are partially self-employed/autónomo (if you also work for example a job at an employer), do you still pay the same amount of seguridad social as someone that's full time autónomo? Thank you!
Thanks for watching! Unfortunately yes, if someone is autónomo and employed at the same time, they essentially pay employee and autónomo social security (speaking from personal experience ☹️). Often though social security give a refund of up to 50% on the autónomo social security quotas at the end of the year. Definitely speak to an advisor to understand your situation. Hope this helps!
Hi! I'm from the Philippines and have been in Spain under the language assistant program for the past 3 years. Do you think it's possible for me to convert from a student visa to the autonomo status?
Hey Benjamin! I’m not too sure about the conditions in which a student visa can be converted to a working visa or residency, but an immigration specialist / gestor would definitely be able to help you 😊 all the best!
Hi, another great video. If I stay in Spain for 5 years and become a permanent resident and after that get a full time remote job with a US company for example(not freelancing). Does that make me an Autonomo
Hi, great video. Found you today. Have 2 questions: in a previous video you mentioned you are employed as well as autonomo, does that mean you pay double social security? In my country it was divided by autonomo and the company I was employed at. #2 Do you know of any app or site where I could calculate my income after deducting everything? Like, let say I bill 2400€, how much do I actually get net out of it?
Hey Andreja, thanks for watching!! In this case yes, during the year someone who is in a “pluriactivo” situation will pay double social security yes, however in the following year they should get a refund of 50% on the corresponding autónomo cuota payments they made. For the second question I found the following calculator (in Spanish) which looks quite good for autónomos: abaq.pro/calculadora-ingresos. Your comment has given me an idea for building a calculator for people so keep an eye on the store on the website 😊 hope this helps!
I live in Uruguay and get my income from the USA stock exchange, investing in options selling (I get no dividends). What kind of Visa would you say I should give a look at? What taxes to consider? Thanks for you help!
Hey Gus, the Non-Lucrative Visa (NLV) is probably the closest given the nature of what you're doing. It allows people to live in Spain without having the right to work, when they earn non-work related or "passive" income. The taxes would range from 19-26% approximately depending on the amount of income, per my understanding. Best to speak to an immigration and tax specialist in both cases, for the immigration part you can check out Bureaucracy at www.bureaucracy.es/millennialswithmoney for a special discount if you decide to apply for the visa through with their team :) I've also got a more recent video where I talk about moving to Spain in 2024 where I cover taxes and visas: czcams.com/video/5eHsw1_dArw/video.html. Hope this helps!!
Hey, depositing in a Spanish bank account doesn’t necessarily mean paying tax. Tax is paid based on income generated in Spain (or abroad if a tax resident). I’d suggest speaking with a tax advisor to understand your tax obligations. Hope this helps!
Hey :) thank you for that video it is so clear and easy to understand.My question is about the tax authority (agencia tributaria) I understand it is me that needs to pay the taxes, but at the end it is the customer that purchase the product that pays it? In canada I pay 15% of taxes for every product I sell but when the product is sold the customer knows that 15% will be added to the price so at the end I am not the one paying the taxes.I know i. spain it would not be 15% but does it still works the same way meaning the customer pays the taxes ?😊I hope my question is clear
Hey Audrey, thanks for watching! In Spain, VAT is included in the final price of a product sold and on the final invoice to a customer, so the business owner should keep this in mind when setting the prices. The business essentially “collects” the VAT and then pays it to the government on a quarterly basis (though it can be lowered/offset by business expenses that include VAT). Hope this helps!
@@MillennialsWithMoney thank youuu so much 🙏🏻yes that makes sense! One last question haha🙈I am tattoo artist,are tattoo artist in spain considered autonomos in general ?
@@audreypelosse5261 welcome! Autónomo is essentially just a business formation, a tattoo business could be done as an autonomo or through a limited company (SL) as well. Which one is best would depend on the person running the business, so worth consulting with a tax professional 😊
If you're looking at moving to Spain and need visa help, book a consultation with Bureacracy immigration experts and get a special discount using my link! www.bureaucracy.es/millennialswithmoney
Are you thinking about self-employment in Spain? Leave a comment and let me know!
Hi Johnny, is it possible to book you for a private consultation? Thanks for this helpful channel x
@@faelohim8013 hi! I think you also sent a message via the webform on the website? Replied to you yesterday if so ☺
Many say being self-employed in Spain is not worth it or too difficult. But I lived in the US for 16 years and found it more difficult and expensive. Why? Healthcare. You have to pay your own insurance, which for a family can be close to $2k a month.
I am just starting as a freelance writer and am fine paying 300 Euros a month if it includes healthcare coverage. It is still cheaper.
I’m a resident, and I have always previously been self employed when I used to live in the UK so I guess I’d like to go self-employed here… but the cost is terrifying 😂 Things I do come under multiple sectors. I’m an artist, but things I have done previously would fall under everything from working with clients in art/film/photography, content creation, online shop, coaching/teaching, etc. etc. so I don’t have a clue what I’d even register as haha. It’s all very overwhelming.
@@ZinziMaya I feel that! It’s possible to have multiple activities and you’ll only pay the autonomo fee based on your total income across all your difference activities, a gestor will be able to help you with the appropriate epigrafes. Hope this helps!
@@MillennialsWithMoney Thank you! I’m looking into it all, want to make sure I’m actually prepared before I register so I’m not paying unnecessarily before I’m ready to go haha. So confusing, thank you for this video.
Just got my permiso de trabajar como autónomo last week and now I gotta quickly figure out how to do my taxes by the end of this month ☠️ you’re channel is amazing! Thank you so much! If you’re in BCN lmk I’ll buy you a beer as a thank you hahaha
Thanks and congrats Olly!! You got this mate 👊🏻💯
Can you guide me how to get autonomo?
thanks so much for this info!
@@witchmorrow thanks for watching!! 😁
Hey man I found your channel a few days ago. Would it be possible to do a video on moving to Spain as a freelancer. So many different things online as far as finding housing, registering for NIE, empadronamiento and what’s needed as a freelancer etc
Hey Ayo, thanks for watching!! Will keep your suggestion in mind for a possible future video indeed 😁
Freelancer online or in person? Remotely you’d be best to open a company in Estonia or the like. Local freelancer you’d have to go the ‘dinero negro’ cash in hand route or official autónomo. For NIE, apportionments are scarce. Find an agent online to book the appt for you, it’ll save you trouble.
Hi Millennials new subcribers here you've a great video tutorial ❤
Thx for info
Thanks for watching!!
Thanks so much for the video! Thinking of moving to Spain as an autonomo in 2024 (EU citizen). Did I understand it right though that the Soc. Security payment includes a (basic) medical insurance, pension payment as well as unemployment insurance? Because the amounts are still a LOT less than what we pay here in Germany.
Thanks for watching Stefanie! If my understanding is correct, Social Security contributions give you access to public healthcare, unemployment after a certain time (I think one year), however a spanish state pension requires many years of contributions to be eligible. Very surprised to hear that there are places with even higher amounts than Spain!! Hope this helps!
@@MillennialsWithMoney thanks so much. Not expecting to get a pension after a year of paying SS :-) but its good to know that its "all-in-one". In DE, you pay 19% of your income just for your med insurance, which could esaily amount to 850Euros a month! So yes, Spain has a better option indeed.
@@stefaniekumaran563 welcome!! Oh wow that is a lot indeed 😰
I’m shocked regarding the monthly cost of it.. someone making under 670€ pays 225 a month, but someone making over 6k pays only twice as much..
Such high cost for low earners, doesn’t make it easy to get things started?
@@BrookRsPk many people would agree with you 😬
Hey! Got a few questions about registering as autonomo as an online tutor (I have a PhD in physics/biomterials):
I'm Polish, trying to register in Valenica.
I have already:
NIE (just the number on a paper stamped by the immigration office)
Padron in Valencia
Private health insurance that covers me in Spain with no co-pays
Spanish bank account (with upwards of 12k eur on it)
EU passport/ID card
I read that I have to go to the tax office, fill out a 037 form, and then bring documents from the tax office to register with social security. Then I can register as autonomo.
After have all of the documents I listed above plus the registration as an autonomo, will that be enough to become resident here in Valencia, even before I have acquired any income or clients? Or do I need to show that I have already earned money as an autonomo and show that I have a certain lump sum/regular income from my self-employed work? Not sure what financial situation is expected of me.
Thank you in advance!
Hi Katherine, thanks for watching! It looks like you’re well underway with the residency process! As an EU citizen financial requirements are relatively low, so if someone can prove sufficient savings or minimum wage income (I think 7,200€ in savings or 600€ a month income) then it shouldn’t be a problem to register as a resident. Hope this helps and good luck getting registered! Sounds like you’re well on the way to getting it done😁
Great video! Appreciate your insights on the taxes self employed people need to pay. I do have a question though , what if you stay less than 183 days in spain, would this exempt you from paying taxes? Also if you have a DNV in spain and stay less than 183 days, would your DNV get automatically cancelled ?
Thanks Michael! Tax and physical residency are different, my understanding is that the DNV wouldn’t necessarily be cancelled but staying less than 183 days could impact tax implications, I’d check with a professional to understand the specifics of your case. Thanks for watching!
Clarification: Cuota Cero is still not available for most, as it requires having been an autonomous worker for at least one year, after that you can apply for it and then receive such Cuota Cero. It is practically useless as anyone who has been self employed in Spain for more than a year is not a beginner, so they way they marketed it is truly just for political gains.
Hey Great video. Super informative.
I am considering this, however I noted that you need to provide proof that my business would help the Spanish economy. As a self employed travel agent, would you say it is possible to say selling holidays to UK citizens to Spain would be sufficient?
@@liamcaffrey1741 thanks for watching Liam!! Generally speaking getting a self employed visa is very challenging as I understand as it also has to be somewhat unique. If you’re able to sell holidays to clients elsewhere in the world then you could perhaps look at the digital nomad visa though which doesn’t require submission of a business plan. Hope this helps!
@@MillennialsWithMoney cheers thank you. I’ll look in to it.
Hi! Such a great video. If you are partially self-employed/autónomo (if you also work for example a job at an employer), do you still pay the same amount of seguridad social as someone that's full time autónomo? Thank you!
Thanks for watching! Unfortunately yes, if someone is autónomo and employed at the same time, they essentially pay employee and autónomo social security (speaking from personal experience ☹️). Often though social security give a refund of up to 50% on the autónomo social security quotas at the end of the year. Definitely speak to an advisor to understand your situation. Hope this helps!
Hi! I'm from the Philippines and have been in Spain under the language assistant program for the past 3 years. Do you think it's possible for me to convert from a student visa to the autonomo status?
Hey Benjamin! I’m not too sure about the conditions in which a student visa can be converted to a working visa or residency, but an immigration specialist / gestor would definitely be able to help you 😊 all the best!
Hi, another great video. If I stay in Spain for 5 years and become a permanent resident and after that get a full time remote job with a US company for example(not freelancing). Does that make me an Autonomo
Thanks Chinedu! That's a tricky question and probably one for an expert to look into, but most likely you wouldn't be an autónomo.
@@MillennialsWithMoney thank you, expert as in lawyer?
@@Chinedu311 welcome! Yes a lawyer, best is probably someone who specialises in tax/accounting/residency
Hi, great video. Found you today. Have 2 questions: in a previous video you mentioned you are employed as well as autonomo, does that mean you pay double social security? In my country it was divided by autonomo and the company I was employed at. #2 Do you know of any app or site where I could calculate my income after deducting everything? Like, let say I bill 2400€, how much do I actually get net out of it?
Hey Andreja, thanks for watching!! In this case yes, during the year someone who is in a “pluriactivo” situation will pay double social security yes, however in the following year they should get a refund of 50% on the corresponding autónomo cuota payments they made. For the second question I found the following calculator (in Spanish) which looks quite good for autónomos: abaq.pro/calculadora-ingresos. Your comment has given me an idea for building a calculator for people so keep an eye on the store on the website 😊 hope this helps!
I live in Uruguay and get my income from the USA stock exchange, investing in options selling (I get no dividends). What kind of Visa would you say I should give a look at? What taxes to consider? Thanks for you help!
Hey Gus, the Non-Lucrative Visa (NLV) is probably the closest given the nature of what you're doing. It allows people to live in Spain without having the right to work, when they earn non-work related or "passive" income. The taxes would range from 19-26% approximately depending on the amount of income, per my understanding. Best to speak to an immigration and tax specialist in both cases, for the immigration part you can check out Bureaucracy at www.bureaucracy.es/millennialswithmoney for a special discount if you decide to apply for the visa through with their team :) I've also got a more recent video where I talk about moving to Spain in 2024 where I cover taxes and visas: czcams.com/video/5eHsw1_dArw/video.html. Hope this helps!!
Hi We have Deposit into Spain account 45k and now how much i have to pay taxes ? We have a physical store in Barcelona.
Hey, depositing in a Spanish bank account doesn’t necessarily mean paying tax. Tax is paid based on income generated in Spain (or abroad if a tax resident). I’d suggest speaking with a tax advisor to understand your tax obligations. Hope this helps!
Best country in the world. Now leading the UE economic growth.
Hey :) thank you for that video it is so clear and easy to understand.My question is about the tax authority (agencia tributaria) I understand it is me that needs to pay the taxes, but at the end it is the customer that purchase the product that pays it? In canada I pay 15% of taxes for every product I sell but when the product is sold the customer knows that 15% will be added to the price so at the end I am not the one paying the taxes.I know i. spain it would not be 15% but does it still works the same way meaning the customer pays the taxes ?😊I hope my question is clear
Hey Audrey, thanks for watching! In Spain, VAT is included in the final price of a product sold and on the final invoice to a customer, so the business owner should keep this in mind when setting the prices. The business essentially “collects” the VAT and then pays it to the government on a quarterly basis (though it can be lowered/offset by business expenses that include VAT). Hope this helps!
@@MillennialsWithMoney thank youuu so much 🙏🏻yes that makes sense! One last question haha🙈I am tattoo artist,are tattoo artist in spain considered autonomos in general ?
@@audreypelosse5261 welcome! Autónomo is essentially just a business formation, a tattoo business could be done as an autonomo or through a limited company (SL) as well. Which one is best would depend on the person running the business, so worth consulting with a tax professional 😊
@@MillennialsWithMoney perfect yess thanks again for your time!😄✨
Hey Jonny. Where are you located in Spain?
Hey, in the Madrid region (but not in the centre) 😊