Taxes in the Canary Islands for the self-employed

  1. I still don't know which country to choose. It's quite expensive to hire a local accountant in every country just to ask a question about taxes :(

  2. I am making 85k as employee. Soon bumping to six digits. Software engineering shortages are nice. Meanwhile Spain keeps spamming me with sub 45k salaries.

  3. Thank you very much for your detailed explanation!Yes, I will hire an accountant for sure, just want to make sure that it worth to go to Spain from financial perspective, when countries like Georgia exist where people pay 1% and that's it.

  4. Check out Croatia. Outside of Schengen (visa) but inside the EU. Very low living costs. Food is hyper cheap. They offer a digital nomad visa where you can stay for a long time just by visiting the local Police station.

  5. I am a Ukrainian IT professional living in Spain. If I had the chance to move back in time, I would never set my foot here. Spain is only good if you dig the Spanish way of life and you are willing to endure the local weather and government (two very hostile forces acting against Spaniards for centuries).

  6. In Spain yearly salary is for 14 months. So your monthly salary is about 5300. The maximun salary to the eyes of our Treasury is 4300. So you have to pay the equivalent to maximun self-employment quota, that is 1266€.

  7. the tax rate for the canary island is a replacement of the VAT (called IGIC - impuesto general islas canarias). to my knowledge, this does not have anything to do with the autonomo fees

  8. it honestly might be worth the time to take a vacation there and talk to a gestor (might be able to consult one online?)

  9. In the Canary Island as a self employed person you need to create a local company. It must be a little bit innovative and you need to hire 1-2 local people. Then you get a special tax discount. Also, you can offset expenses (boat, car, etc.) on your company. Not sure if you can do that as a non EU person.

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