What is the Beckham Law?
The Beckham Law is also beneficial for foreigners who own property in Spain. Non-residents are only subject to wealth tax on property they own in Spain. The wealth tax rate varies depending on the Autonomous Community where the property is located, but it is generally between 0.7% and 3.5%.
Requirements for the Beckham Law
- Not having been residents in Spain during the five previous tax periods.
- That your transfer to Spanish territory occurs for the following reasons:
- As a consequence of an employment contract.
- As a consequence of the acquisition of the status of administrator of an entity.
- As a consequence of carrying out an entrepreneurial economic activity in Spain.
- As a consequence of carrying out an economic activity in Spain by a highly qualified professional who provides services to emerging companies.