how does it combine with the beckham law? since one of the requirements is that you can't have lived in spain for the past 5 years I would guess most people that move to Spain / Madrid will apply to the beckham law at the same time.
@@alex9105 that’s a very good point - I don’t see why someone couldn’t benefit from both at the same time since one is under the competence of the Madrid regional government and the other by Hacienda (run by central govt). Best to check with a tax advisor to understand how this would work in practice. Hope this helps!
Hiya, as a Brit under WA protection, have you now qualified and applied for EU larga duracion residency? would love to hear your thoughts and sharing experiences
Sounds confusing and not really seeing the benefits. Capital tied up for 6 years 🤔. If I invest 100k in 2024, I get the tax benefit for 2024. How about for 2025? I need to invest some amount again to get the benefit?
@@Slipperywrench a 100k investment would give about a €20k rebate that can be applied for up to 6 years. So for example someone who has €30k Madrid autonomous tax in 2024 would pay only €10k (€30k-20k), however someone who has €10k of autonomous tax could essentially use €10k of their total rebate to pay 0 autonomous tax in 2024, rolling the remaining €10k over to offset tax in future years. The investment(s) has to be made in the same year that someone moves to Madrid, so whatever someone invests in the year the move the Madrid will determine the rebate they get for the duration of the six years. Not sure how many investments in the first year of residents can qualify, if only one or multiple. Hope this helps to clarify a little, thanks for watching!
@@MillennialsWithMoney So if I were to use that 21k deduction the first year out, then from then on it's back to normal rates unless I keep investing 100k?
![I.N "HALLUCINATION" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/n5B5q1Hwt_U/mqdefault.jpg)
What do you think of this proposal? Leave a comment and let me know!
Bro, always going hard with the thumbnails. Love your video.
@@TrevorStark. thank you Trevor!! Will pass your shoutout on to the thumbnail editor 👊🏻💯🔥
Sounds like a lot of risk for the investor.
You’d need to lock up funds for 6 years in a qualifying investment in order to receive any rebate.
how does it combine with the beckham law? since one of the requirements is that you can't have lived in spain for the past 5 years I would guess most people that move to Spain / Madrid will apply to the beckham law at the same time.
@@alex9105 that’s a very good point - I don’t see why someone couldn’t benefit from both at the same time since one is under the competence of the Madrid regional government and the other by Hacienda (run by central govt). Best to check with a tax advisor to understand how this would work in practice. Hope this helps!
Hiya, as a Brit under WA protection, have you now qualified and applied for EU larga duracion residency? would love to hear your thoughts and sharing experiences
Hi, will qualify at the end of this year 😊 good video idea I may share some more about it! Thanks for watching!
Sounds confusing and not really seeing the benefits. Capital tied up for 6 years 🤔. If I invest 100k in 2024, I get the tax benefit for 2024. How about for 2025? I need to invest some amount again to get the benefit?
@@Slipperywrench a 100k investment would give about a €20k rebate that can be applied for up to 6 years. So for example someone who has €30k Madrid autonomous tax in 2024 would pay only €10k (€30k-20k), however someone who has €10k of autonomous tax could essentially use €10k of their total rebate to pay 0 autonomous tax in 2024, rolling the remaining €10k over to offset tax in future years. The investment(s) has to be made in the same year that someone moves to Madrid, so whatever someone invests in the year the move the Madrid will determine the rebate they get for the duration of the six years. Not sure how many investments in the first year of residents can qualify, if only one or multiple. Hope this helps to clarify a little, thanks for watching!
@@MillennialsWithMoney So if I were to use that 21k deduction the first year out, then from then on it's back to normal rates unless I keep investing 100k?