Spain will be launching its so-called Nomad visa early next year which will allow non-European Union citizens (including Britons) to live in Spain for up to five years and also receive substantial tax breaks.
The visa is aimed at so-called Nomad workers, those who work remotely for a company in another country. So far, few details are available, but the Spanish government has indicated that it will launch in a few months' time. It will also remove some of the major paperwork headaches which non-European Union residents face when they move to Spain.
Under current plans, tax breaks will be granted to remote workers, who may only pay 15 per cent tax during the first four years of their stay instead of the usual 24 per cent. The income requirement is likely to be €2,000 per month.
Many countries across the European Union are offering similar schemes. The Balearics is well suited to become a major "Nomad centre" with plentiful flights to northern Europe, a first-class international school network and excellent healthcare facilities. And there is of course the little matter of 300 days of sunshine per year!
The Palma city council wants to promote Playa de Palma as a major centre for Nomad workers.