Canary Islands
“The Canary Islands are a symphony of contrasts, where the fiery heart of the volcanoes meets the cool embrace of the Atlantic and the whispers of ancient cultures mingle with the echoes of modern life.”
Pedro García Cabrera
Canary Islands
This breathtaking archipelago of volcanic islands, nestled off the northwest coast of Africa, offer an enticing blend of natural beauty and modern amenities for digital nomads and remote workers. With year round pleasant weather and diverse landscapes, these islands have become increasingly popular for those seeking to escape normality.
Spain’s digital nomad visa has made the Canaries more accessible, allowing non EU workers to stay for up to 12 months. The islands boast reliable internet and a growing number of coworking spaces, particularly in Tenerife and Gran Canaria, supporting a thriving remote work community.
While Spanish is the primary language, English is widely spoken in tourist areas. The cost of living is generally lower than mainland Spain with a comfortable lifestyle achievable on €1,500-€2,000 per month.
From Tenerife’s vibrant scene to Fuerteventura’s serene beaches, the Canary Islands provide a unique cultural experience in a stunning island setting.
| 🌎 CONTINENT | EUROPE |
|---|---|
| 📌COUNTRY | SPAIN |
| 👫🏻POPULATION | 2,153,389 |
| 🙏RELIGION | CHRISTIANITY |
| 💵CURRENCY | EURO (EUR) |
| 💉C19 VAX REQUIRED | NO |
| 🔌POWER | 230V - 50Hz |
| 💰GDP PER CAPITA | $25,000 PER YEAR |
| ✈️AIRPORT | GRAN CANARIA - LPA |
|---|---|
| 🪪UK VISA FREE | 90 DAYS IN 180 |
| 🏝️LAND OWNERSHIP | ALLOWED |
| 🛜AVG INTERNET SPEED | 104 MBPS |
| 💧TAP WATER | SAFE TO DRINK |
| 🏧ATM LIMIT | VARIES BY BANK |
| 💳CASHLESS | WIDELY ACCEPTED |
| 💸TIPPING | 5 - 10 PERCENT |
TAX FRIENDLINESS
Digital Nomad Tax Friendliness: 90/100
- The Canary Islands follow Spain’s Digital Nomad Visa program.
- Digital nomads can benefit from the Beckham Law, allowing them to be taxed at a fixed rate of 24% for the first five years of residency.
- The territorial tax system means only income from Spanish sources is taxed for non residents.
Expat Tax Friendliness: 85/100
-
- Income tax rates range from 18.5% to 50.5%, which is lower than mainland Spain.
- Non-residents from EU countries pay a reduced 19% tax on Canary Islands sourced income.
- Residents are exempt from submitting Model 720, which is the declaration of foreign assets.
Investor Tax Friendliness: 95/100
-
- The Canary Islands Special Zone offers a highly attractive 4% corporate tax rate, compared to 25% in mainland Spain.
- Companies in the Special Zone can benefit from this rate with minimal requirements for job creation and investment.
- The Reserve for Investments in the Canary Islands allows for tax deductions by reducing the taxable base for reinvested income.
Crypto Tax Friendliness: 80/100
-
- Specific information on crypto taxation in the Canary Islands likely follows Spain’s general rules.
- Capital gains tax rates are significantly reduced, ranging from 19% to 28%.
- The overall favorable tax environment may indirectly benefit crypto investors.
CANARY ISLANDS PRICE REFERENCE
CANARY ISLANDS HOLIDAY LETS
VISA REQUIREMENTS
Spain Tourist Visa
Spain and subsequently the Canary Islands are part of the Schengen Zone, making travel easy for UK citizens.
Key Points:
- Visa-Free Entry: UK citizens can enter Spain visa free for up to 90 days within a 180 day period, as part of the Schengen Agreement.
- Passport Validity: Your passport must be valid for at least 3 months beyond the date of your planned departure from Spain.
- Proof of Accommodation and Funds: Upon entry, you may be asked to show proof of accommodation, return travel, and sufficient funds for your stay.
New Schengen entry requirements (planned for November 2024 onwards)
From November 2024, the new EU Entry/Exit System (EES) will start for all non-EU nationals, including British nationals, travelling in or out of the Schengen area. The Schengen area is made up of 29 European countries, 25 of which are EU Member States. The EES is a digital border system which registers non-EU visitors travelling into the Schengen area instead of stamping their passports.
You will need to have your fingerprints and your photo taken when entering the Schengen area. If you enter the Schengen area through Dover, Eurotunnel at Folkestone or St Pancras International, your fingerprints and photo will be taken before you leave the UK. You will also need to provide either your fingerprint or photo on exit.
Important Links:
- Spanish Embassy in the UK – for visa and entry requirements.
Spain Digital Nomad Visa
Spain recently launched a Digital Nomad Visa in 2023, which is part of the country’s startup law to attract remote workers and freelancers.
Key Points:
- Eligibility: Applicants must demonstrate remote work for a company based outside Spain or be self-employed with clients abroad. The minimum income requirement is around €2,334 per month.
- Duration: The visa is valid for 1 year, with the possibility of renewing it for up to 5 years.
- Taxes: Spain offers a favorable tax rate for digital nomads (24% on the first €600,000 of income).
Important Links:
- Spain’s Digital Nomad Visa – Official Government Website for detailed visa and application steps.
Spain Retirement Visa
Overview: Spain’s Non-Lucrative Visa is a popular option for retirees seeking to enjoy the country’s sunny climate and relaxed lifestyle.
Key Points:
- Eligibility: Applicants must show a stable monthly income of at least €2,400, plus €600 for each dependent. You cannot work under this visa, so retirees must rely on passive income.
- Duration: The visa is initially issued for 1 year and can be renewed for 2-year periods, eventually leading to permanent residency.
- Healthcare: Retirees need private health insurance or proof of access to Spain’s public healthcare system.
Important Links:
- Spain’s Retirement Visa – Government website detailing requirements and residency information.
OTHER NOTES
ARE ID CARDS REQUIRED
ID Cards in Spain
In Spain, ID cards are crucial for daily activities and transactions and both citizens and long term foreign residents are required to carry them.
Key Points:
- For Citizens: Spanish citizens use the Documento Nacional de Identidad (DNI), which is required for all formal activities like banking, voting, and accessing healthcare.
- For Foreigners: Non-EU foreign residents need to obtain a Tarjeta de Identidad de Extranjero (TIE), which serves as an ID for long-term stays. It is required for activities such as opening a bank account, renting property, and enrolling in healthcare.
- Daily Use: ID checks are common, especially during police stops or when entering government buildings. Foreign tourists are advised to carry a photocopy of their passport for everyday use.
Important Links:
- Spanish Ministry of Interior – for more information on obtaining an ID card as a foreigner.
ARE GM FOODS ALLOWED
Are GM Foods Allowed in Spain?
Spain is one of the few European countries that allow the cultivation of genetically modified (GM) crops, although there is public debate about their safety.
Key Points:
- GM Crop Production: Spain is the largest cultivator of GM maize in Europe, primarily used for animal feed.
- Regulation: The Spanish government, through the Ministry of Agriculture and the European Food Safety Authority (EFSA), regulates GM crops and ensures they meet safety standards.
- Labeling: GM foods must be labeled if they contain more than 0.9% GM ingredients, according to EU regulations. However, GM labeling is not mandatory for animal products that have been fed with GM feed.
TRESPASSING - RIGHT TO ROAM
Trespassing, Right to Roam and Wild Camping in the Canary Islands
- Unique Considerations:
- Trespassing: The rules for trespassing are the same as in mainland Spain—entering private property without permission is illegal and can lead to fines or legal consequences.
- Right to Roam: Unlike some northern European countries, Spain, including the Canary Islands, does not have a right to roam law. However, public lands and protected areas, such as national parks, are open to the public.
- Wild Camping: Wild camping is heavily regulated in the Canary Islands due to the islands’ focus on environmental protection and tourism. You can camp in designated areas and some national parks, but wild camping outside of these areas is prohibited without a permit. Always check local rules, as different islands may have different regulations.
Important Links:
- Canary Islands Nature Parks and Reserves – for information on camping regulations and accessing protected lands.
420 FRIENDLY?
420 Friendly? (Cannabis Laws in Spain)
Spain has a hybrid approach to cannabis laws, allowing private use while maintaining strict rules against public consumption.
Key Points:
- Personal Use: Cannabis for personal use is decriminalized if consumed in private spaces. You can legally possess small amounts of cannabis for personal use in your home.
- Cannabis Clubs: Spain is known for its cannabis social clubs, particularly in Catalonia and the Basque Country, where members can grow and share cannabis in a private setting. However, these clubs operate in legal grey areas.
- Public Use: Public consumption and possession of cannabis are illegal and can result in fines or confiscation.
- Medical Cannabis: Spain has no formal medical cannabis program, but cannabis-derived medications are allowed for specific health conditions.
Canary Islands Journal
