2023-07-11 04:15:00
The new law approved by the Government to encourage the creation of “start ups” (emerging technology companies) came into force in January, but its full application is pending a final step: an inter-ministerial order indicating that the public company Enisa must certify the innovative and scalable nature of companies that want to access the benefits offered by the standard. Said order has already been approved by the six competent ministries (Industry, Economy, Science, Territorial Policy, Justice and Finance), but it has yet to pass the filter of the Council of State. If this body does not observe any incorrectness, the order will be published in the Official State Gazette (BOE). From Enisa they indicated that the elections of July 23 do not have to interfere in the process, so everything indicates that the “start ups” will already be able to start requesting aid and incentives within this month of July.
The law provides for “special attention to ‘start ups’ in rural environments or outside the already consolidated urban poles of innovation”, which is of interest to entrepreneurs who want to settle in rural Asturias, a growing phenomenon after the pandemic and which Both the national and Asturian governments want to strengthen. For example, by attracting the so-called “digital nomads”, those professionals who telework from anywhere.
the asturian Daniel Suárez He is the president of the Spanish Association of Rural Entrepreneurship and the person in charge of Zapiens, an application for professional training. Although this “start up” has its fiscal headquarters in Gijón, “it is a 100% remote company, whose employees work from wherever they are at all times,” explains Suárez.
The Zapiens innovation laboratory is in Somiedo, a rural council in which Suárez, as president of the aforementioned association, is promoting the Somiedo Living Lab, a space for the creation of “start ups” to light up “the first entrepreneurial town in Spain”. Suárez believes that the law that is about to be implemented “is very necessary, but more support is needed.”
Billing. One of the advantages introduced by the new standard is the increase in turnover from 5 to 10 million euros per year to be considered as a “start up”. This defines those companies that do not exceed five years old –seven for certain strategic sectors–, that are not listed on the Stock Market or distribute dividends, and that develop an innovative entrepreneurial project with a scalable business model. Its headquarters or registered office must be permanently established in national territory, and 60% of the workforce must be employed in Spain.
Always. To expedite administrative procedures, the law establishes a single and telematic window for the certification of companies. Likewise, for entrepreneurs who want to settle in Spain and for foreign investors, the initial residence authorization is increased from one to three years. And the “international teleworking visa” (that is, for digital nomads) will last for one year and may be requested by foreigners not residing in Spain to work remotely for a company based in another country or for themselves.
Fiscal benefits. Of note is the reduction from 25% to 15% of corporate tax and non-resident income tax during the first four years with a positive tax base. Likewise, the maximum deduction base for investment in newly or recently created companies is extended, from 60,000 to 100,000 euros per year, and the type of deduction goes from 30% to 50%. The regulation of “stock options” also changes, which consists of the delivery of shares or participations to employees: the amount of the tax exemption rises from 12,000 to 50,000 euros per year.
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