Warm weather, a relaxed lifestyle, excellent cuisine, and a welcoming culture are just a few of the things that Spain offers retirees. Around 6 million foreigners choose to call Spain home, thanks to its high standard of living, excellent healthcare, and competitive education system.
Retirement in Spain tends to be fairly low-cost. You can comfortably retire on about $2,849.7$ (2,540.9€) a month or about $34,196.40 (€30,490.80) a year. Therefore, retiring in Spain offers an affordable lifestyle for retirees from the USA, UK, or any other country.
This guide will provide you with all the information you need to know about how to retire in Spain, including the cost of living, the legal steps of living in Spain, taxes, the best places to retire, and much more.
What You Will Discover in This Article
- Key Takeaways for Retiring in Spain
- The Pros and Cons of Retiring to Spain
- Visas and Residence Permit Types to Retire in Spain
- What’s the Average Cost of Living to Retire in Spain?
- Housing in Spain for Retirees
- Healthcare in Spain for Retirees
- Banking in Spain
- Can Americans Retire in Spain?
- How to Retire to Spain from the USA
- Taxes in Spain for American Expats
Key Takeaways for Retiring in Spain
- The current official retirement age in Spain is 66 years and 6 months as of 2025.
- The average monthly cost of retirement in Spain ranges from €1,500 to €2,500, depending on location and lifestyle.
- An EU citizen can live, work, study, and retire in Spain without restrictions.
- If you are a non-EU or US citizen, you need to have a residence permit, which is a Non-Lucrative retirement visa. Spain’s retirement visa requires a minimum of €2,400 monthly income, €28,800 annual income. You can also add your dependents with an additional fee of €600 per person.
- Almería, Granada, Murcia, Lugo, and Torrevieja are some of the cheapest places to retire in Spain. They offer low living costs, good healthcare, and a relaxed Mediterranean lifestyle.
The Pros and Cons of Retiring to Spain
There is no such thing as perfect, unfortunately. Spain is a fantastic country in general, yet everything has its ups and downs. Here are a few pros and cons of retirement in Spain:
Pros of Retiring in Spain
- Friendly locals and a welcoming culture
- Fantastic cuisine, which is renowned for its variety and deliciousness
- Warm year-round weather and excellent beaches
- The cost of living in the country is low compared to other European countries
- Life in Spain is slow and breezy
- High standards of living, education, and healthcare
Pitfalls of Retiring in Spain
- A complicated bureaucratic system
- The main language is Spanish, not English
- Tax laws don’t necessarily favor expats
- Having to reside at least six months a year to maintain residence requirements
Visas and Residence Permit Types to Retire in Spain
For passive income earners, there is one visa types that stands out.
Spain Non-Lucrative Visa (Spain Retirement Visa)
The Non-Lucrative Visa in Spain is a golden ticket for non-EU nationals who wish to retire in Spain without undertaking any business or work-related activities. This visa enables retirees to enjoy an extended stay of up to three years, allowing them to immerse themselves in Spanish culture and enjoy the vibrant culture, stunning landscapes, and high quality of life that Spain has to offer.
Although this type of visa is designed specifically for individuals seeking to reside in Spain without working, it does require the applicants to demonstrate that they have sufficient financial resources to support themselves while living in Spain.
If you’re considering the Non-Lucrative Visa in Spain, you’ll be glad to know that your family members can join you on this journey. The Non-Lucrative Visa allows for a spouse or unmarried partner, dependent children, and dependent relatives in the ascending line to accompany the main applicant.
Non-Lucrative Visa in Spain: Requirements
To qualify for the Non-Lucrative Visa, the applicant must meet specific financial requirements and submit the required documentation. It’s also essential to demonstrate that you have no intention of working in Spain, as this visa is intended for those who want to live in the country without engaging in job activities.
The following are the typical requirements and steps to follow to complete your visa application successfully:
- Complete the national visa form accurately, making sure the information matches other submitted documents. Note that this is not the same as the Schengen visa form.
- Possess a valid passport issued in the past 10 years, has a minimum validity of one year, and contains at least one blank page for the visa sticker.
- Submit two identical photos that meet Spain’s visa photo specifications.
- Obtain a medical certificate from an authorized doctor in your country of residence to confirm that you have no diseases that pose public health risks. The certificate should not be older than 90 days before the submission.
- Secure a private health insurance policy from a Spanish insurer.
- Provide an original police clearance certificate that verifies that you have not engaged in any illegal activities within the past five years. The certificate must not be older than three months when submitted.
- Obtain an NIE number, which is a unique personal identifier assigned to foreigners who plan to stay in Spain for more than six months. You must apply for this number at the Spanish consulate before applying for a visa.
- Submit proof of sufficient income, which is essential for a successful application. You must provide evidence of a minimum monthly income of €2,450 and an additional €600 for each dependent. Acceptable proof may include bank statements from the past three months, an employment letter outlining your salary if you receive income from an employer outside of Spain, proof of investments, or evidence of other sources of income, such as rental property.
- If you are a dependent applicant, you must also submit a marriage or birth certificate.
Application process
To apply for a non-lucrative visa for Spain, you must follow these steps:
- Determine if you meet the eligibility criteria: You must be a non-EU citizen, have sufficient economic means, and not have any criminal record.
- Gather the required documentation: This includes a valid passport, a medical certificate, proof of sufficient economic means, proof of accommodation in Spain, and proof of health insurance.
- Schedule an appointment with the Spanish consulate or the Spanish embassy in your home country.
- Attend the appointment and submit your application: You will need to complete the application form, pay the fee, and provide all the required documentation.
- Wait for the decision: It may take several weeks or months for the Spanish authorities to process your application.
- If approved, you will need to collect your visa and enter Spain within the validity period.
- Once in Spain, you will need to apply for a residency permit within 30 days of your arrival.
What’s the Average Cost of Living to Retire in Spain?
As we’ve mentioned above, Spain tends to be less expensive than other European countries. You can live comfortably in Spain for about 2,849.7$ (2,540.9€) a month somewhere in a big city.
If you live somewhere outside the big cities, you can retire at approximately 1,509.00 € a month. So, depending on your finances and income, you can select where you want to stay.
Food and Groceries
Food and groceries in Spain tend to be very affordable. On average, you should budget about €200-300 monthly for groceries, depending on your needs. Below you’ll find a table depicting the prices of various items according to Numbeo:
|
Price |
|
|
Apple (one kg) |
€2.11 |
|
Banana (one kg) |
€1.74 |
|
Chicken (one kg) |
€7.27 |
|
A dozen eggs |
€2.60 |
|
A loaf of bread (500 g) |
€1.34 |
|
Local Cheese (one kg) |
€12.16 |
|
Milk (one liter) |
€1.04 |
|
Onions (one kg) |
€1.65 |
|
Potatoes (one kg) |
€1.55 |
|
Rice (one kg) |
€1.41 |
|
Water bottle (1.5 liters) |
€0.67 |
Additionally, Spain produces some lovely wines. You can get a decent bottle of wine for about €5, and you can find domestic beer for as low as €1.11.
Eating Out
If you enjoy going out for dinner now and then, Spain has some excellent restaurants and delicious cuisine. Here is a table depicting the average prices of eating out:
|
Price |
|
|
Meal at an inexpensive restaurant |
€14 |
|
Meal for two at a mid-range restaurant |
€50 |
|
Meal at a fast-food chain |
€9 |
Utilities
Utilities in Spain are fairly cheap. Expect to pay about €3,681.79 monthly for a meter. This includes electricity, heating, water, etc. Of course, this number changes depending on your usage, the size of your house, and the season.
As for the internet, you should be prepared to pay around €29.44 monthly.
Transportation
As one of the best countries to retire, Spain has excellent public transportation. You can find metro lines in Madrid, Barcelona, Bilbao, and Valencia. These networks connect the city center to various neighborhoods and municipalities.
There are also a massive number of local and intercity buses. This means that you will never have a problem reaching anywhere. A one-way ticket on a bus or the metro should cost you €1.50. If you go for a monthly pass, you will pay €35-45 on average.
Finally, taxis in Spain are comparatively cheap as well. The fares start at €3.85 and increase by €1.30 per km.
Owning a Car
Owning a car in a big city like Madrid or Barcelona might not be necessary. Finding parking can be quite challenging in those cities. However, if you decide to live somewhere in the suburbs or somewhere rural, you might want to have a car at your disposal.
There are a few requirements that every driver should comply with. Each driver is required to have the following in their car:
- Two warning triangles
- Complete set of spare bulbs
- Fuses
- A spare wheel and the tools to replace it
- Hi-visibility jacket
- A spare pair of glasses or contact lenses (if the driver needs them)
- License and car insurance
If the police stop you and you don’t have any of the above items, you might be subject to paying a €500 fine.
Keep in mind that gas is not that expensive. It costs only €1.55 per liter.
Housing in Spain for Retirees
Rental Prices
As a part of the European Union, rental prices can vary dramatically depending on location in Spain. In Madrid, for example, you’ll need around $2,849.8 per month for a one-bedroom apartment. For a three-bedroom apartment, you’ll need about $1,202.29 a month.
Move a few miles outside the city center, and you can find a one-bedroom apartment for $1,032.30 a month. For a three-bedroom apartment, you’ll need about $1,202.29 a month.
However, if you go somewhere far from the major cities, you can find cheaper accommodation. For example, in Valencia, a one-bedroom apartment in the city center will cost around $3,775.14 per month. Step outside of the city center in Valencia, and you can find a one-bedroom apartment for as low as $2,695.82 a month.
Property Prices
Some expats may prefer to buy a second home in Spain. The average house prices for Spain depend on where you buy. For example, for somewhere like Madrid or Barcelona, you should be prepared to put down €5,501.68 – 6,696.9 per m².
On the other hand, you can find some cheaper properties a bit further away from the big cities. In Costa del Sol, you can find houses starting as low as €1,400 per m².
Below you’ll find a table with the average real estate prices of various cities in Spain:
| City | Average price per m² (city center) | Average price per m² (outside city center) |
| Alicante | €2,588.80 | €1,700 |
| Bilbao | €4,033.33 | €3,160 |
| Barcelona | €5,501.68 | €4,047.06 |
| Madrid | €4,929 | €2,993 |
| Malaga | €6,696.93 | €4,004.62 |
| San Sebastian | €8,250 | €5,066 |
| Valencia | €3,365.96 | €2,403.62 |
Healthcare in Spain for Retirees
Spain has a very high-quality healthcare system. It usually guarantees universal coverage for all residents. The healthcare system consists of private and public healthcare. There are some hospitals and health centers there that offer both private and public healthcare.
Moreover, Spain ranks 19th on the Euro Consumer Health Index. The system is overseen by the Spanish Ministry of Health. The Ministry develops policy and oversees the national health budget.
Public Healthcare
Public healthcare in Spain usually covers citizens and residents who contribute to social security. Keep in mind that if you live on one of the Spanish islands, you might need to travel a bit to find a state hospital. There are a few conditions under which you can qualify for the healthcare system in Spain as an expat, such as:
- If you are an employed or self-employed resident who pays social security contributions
- If you are a resident in the country who receives state benefits
- If you are recently divorced or separated from a partner registered with Social Security
- If you are over 65 years of age and a legal resident of the country
- If you are a state pensioner
- If you are an EU citizen staying temporarily in the country and have an EHIC card
If you don’t have the right to public healthcare, you might need to have private health insurance.
Private Healthcare
Private healthcare in Spain is quite common among expats. Many expats choose to cover themselves to have access to broader and quicker treatment.
Luckily, private healthcare insurance in the country offers affordable prices and can cost between €100 and to 200 (112 to 224$) a month.
Pharmacies
Pharmacies are known as farmacia. They are easily identified by the green cross sign outside. Pharmacies in Spain are usually open between Monday- Friday, 9.30 a.m.-2 p.m. and 5 p.m.-9.30 p.m.
They are also open on Saturdays from 9.30 a.m.-2 p.m. If you’re in urgent need of medicine, you can find the details of a 24-hour pharmacy on the windows or doors of other pharmacies.
Banking in Spain
There are private and state banks, as well as a number of regional cooperative and savings banks in Spain. Spain’s national bank is called Banco de España. This state bank is the regulator of the banking sector.
If you plan to retire in Spain, you should open a bank account there. Otherwise, you’ll be dealing with credit card charges and exchange rates. Having an account there will make your day-to-day life easier. Paying bills can be quite costly and could drain your income through international banking.
The first step in opening a bank account in Spain is acquiring an NIE number.
Número de Identificación de Extranjero (NIE)
The NIE number is the number that the government assigns to foreign residents. It’s important for opening a Spanish bank account, establishing bills in your name, filing taxes, and so on.
Acquiring an NIE number is pretty easy. First, you should head to a government bank and pay the NIE fee, which is around €11-15. Then you need to go to the nearest police station and provide them with the following documents:
- The NIE application form (obtainable at the police station)
- Original passport valid for at least one year
- Photocopy of passport
- Two passport-sized colored photos
Keep in mind that depending on where you live, you may not find English-speaking officials at the police station.
Opening a Bank Account
After you’ve obtained your NIE number, you can go to the bank of your choice and request an account. Banks in Spain are usually open Monday to Saturday from 9 am- 2 pm.
Be warned, many of them may not have English-speaking staff. If this is a problem, you can always call the bank to book an appointment with an English-speaking employee. Alternatively, you can grab a friend with you to help you with the exchange.
Documents Required To Open an Account
It’s always a smart idea to consult your bank on any documents they require. However, you typically must provide the following documents:
- Proof of identity
- Spanish foreigner identification number NIE
- Proof of address (a utility bill with your name on it should work)
- Proof of employment status
You should translate all your documents into Spanish using a sworn translator. Typically your account should be open within one to five business days. You’ll get your cards and documentation via mail within a few weeks.
Banks in Spain
There are a multitude of Spanish and international banks in the country that provide services to expats. Some Spanish banks are:
- BBVA
- Banco Sabadell
- Santander
If you prefer to work with an international bank, then you might want to check out:
- Barclays
- Citibank
- Deutsche Bank
- HSBC
- ING
Can Americans Retire in Spain?
Technically, Americans can enter the country and stay there for 90 days with an American passport. However, if you wish to spend more than 90 days there, you must get a visa. The best visa option for that is a Spain Retirement Visa (Non-Lucrative Visa) with passive income. If you can support yourself, this is the easiest visa to obtain.
Retirement in Spain for US Citizens
Americans mostly retire abroad because of the expensive living conditions in the USA. Therefore, they search for their second home to live out their golden years, as they know there is an affordable place to reside with their pension.
However, it is not always about the affordability. They also search for a warm and cosy place to feel like they are at home. As American retiree, they look for developed infrastructure, transportation, safety, and a similar lifestyle and culture.
At this point, you may ask yourself: Why do Americans retire in Spain from the USA? Although many Americans assume that Spain is expensive to live in, it turns out that there are affordable places too. For example, cities like Seville, Murcia, and Malaga offer low costs and a high quality of living. In these cities, you can experience the laid back lifestyle and a vibrant culture that is similar to the USA.
How to retire to Spain from the USA
Once you have decided to retire to Spain from the USA, you can now look for ways to relocate. You need to start by choosing which residency visa type you will apply for. The options are wide, however, the most common one is the Spain Retirement Visa (Non-Lucrative Visa). At this step, you must check if you are eligible or not.
Moving with essentials, the next step includes gathering the necessary documents and making your application to the Spanish Consulate. Then, you will get the visa in a few weeks if you follow up with the requirements.
When you move to retire in Spain from the USA, you need to look for housing and register for the private healthcare system. After becoming a permanent resident, you can also opt for public healthcare.
After settling in your retirement destination, you can enjoy your retirement life in Spain as an American. With lots of places to explore and rich culture to learn from, you will soon adapt to a peaceful and bold environment.
Taxes in Spain for American Expats
Wondering how you can be considered a Spanish tax resident as an American retiree? Here, the criteria are based on the Spanish Law:
- If you reside in Spain for more than 183 days
- If your income source comes from Spain
- If your spouse and children reside in Spain
If one of the criteria above applies to you, bad news! You have to pay taxes in Spain. However, the good news is that there is always a way to avoid double taxation or make yourself considered non-resident. For double taxation, you need to file some documentation for the taxes you paid in a foreign country.
On the other hand, you can also benefit from Beckham Law up to 6 years. This regulation helps you to be seen as a non-resident and pay taxes on the income you earn in Spain if you follow certain criteria.
Now, let’s look at the taxes you must take into account.
Pension Tax
According to the law, pensions in Spain are taxed as general income. They are progressive. And pension taxation rates change from around 19% to 47% depending on the amount you get:
|
Pension |
Tax Rate |
|
Up to €12,450 |
19% |
|
€12,451 |
24% |
|
€20,201 – 35,200 |
30% |
|
€35,201 – 60,000 |
37% |
|
€60,001 – 300,000 |
45% |
|
Over €300,000 |
47% |
And for savings, the rates are:
|
Savings Income |
Rate |
|
€6,000 |
19% |
|
€6,000 -50,000 |
21% |
|
€50,000 – 200,000 |
23% |
|
€200,000 – 300,000 |
27% |
|
Over 300,000 |
30% |
Wealth Tax
Spain taxes foreign retirees annually on their worldwide assets for both tax residents and non-tax residents. However, the rates vary according to the region you reside in or your residency status.
Everyone gets a general exemption of €700,000, plus an additional €300,000 exemption for a primary home in Spain.
Property Taxes
When you buy a property in Spain, you have to pay taxes on January 1st each year. This is called “Impuesto sobre Bienes Inmuebles (IBI)”. It is progressive and can change from region to region, as local authorities are in charge. The rates are typically 0.4% – 1.1%.
There is also a rental income and imputed income tax in Spain. If you rent out your property located in Spain, you have to pay 19% if you are an EU/EAA citizen, 24% if you are a non-EU/EAA citizen. It must be paid quarterly on January, April, July, and October before the 20th day.
On the other hand, if you keep your property empty, you have to pay imputed income tax. It is 19% for EU/EAA citizens and 24% for non-EU/EAA citizens.
If you sell your property, you must pay a property transfer tax, called “Impuesto Transmisiones Patrimoniales (ITP). Accordingly, it changes based on the charges of local authorities.
US Taxes for American Retirees Abroad
Paying taxes can be a burden, especially if you try to live as a retiree. Therefore, you do not wish to be taxed on the same income twice. There is a tax treaty between the US and Spain that might provide you with some tax deductions.
- The Foreign Tax Credit (FTC): If you pay taxes to another country on your pension or income, it lets you reduce your US tax bill by that amount.
- The Foreign Housing Exclusion (FHE): This allows you to exclude certain housing costs from your US taxable income if you live abroad and qualify under the Foreign Earned Income Exclusion.
- Foreign Bank Account Report (FBAR): If you have more than $10,000 in foreign bank accounts combined at any time in a year, you must report those accounts to the US Treasury through the FBAR.
- Statement of Specified Foreign Assets: If your foreign financial assets are over a certain amount, you must report them to the IRS by filing the Form 8938.
How to Avoid Double Taxation as an American Retiree
There are two types of forms you need to file to avoid double taxation if you are planning to move to Spain as an American.
Foreign Tax Credit (Form 1116): You can complete this form for taxes paid to Spain.
Foreign Earned Income Exclusion (Form 2555): You can exclude your foreign income by filling out this form.
Top 8 Best Places for Retiring in Spain for Expat Community
Located in Western Europe, Spain offers a large number of options depending on your preferences and personal finances. You can head to Madrid if you’re a fan of metropolitan life or down to Alicante for that classic Spanish coastal town feel. Let’s take a deep dive into some of the best places for retirement in Spain.
1. Madrid
Madrid is both the capital and largest city of Spain, being in the center of the country. People in Madrid are very social, and immigrants make up about 17% of the population.
The city and its streets are quite busy with people 24/7 every day. Also, it is quite a bit cheaper than other European cities. Madrid also offers many different tastes in one melting pot. Cider comes from the Austrian Highlands, and seafood comes from Galicia.
For accommodation, there are some districts you can think about living in. For more exclusive districts, you may consider historical Salamanca, classy Justicia/Almagro, and Opera el Madrid de los Austrias, which is a cultural district. If you look for more trendy regions, you may decide Chueca, Malasana, and La Latina. In the north of the center, Chamberi provides some great apartments as well.
2. Alicante
Alicante is a low-density town in Spain. Around 370.000 people live there. Despite having less population than bigger cities, Alicante has an international airport. It attracts many people from Spain, Europe, and other parts of the world as well.
Like most of Spain, it also has great sunshine throughout the year. You can enjoy the mild climate even in winter. There are plenty of housing, cafés, restaurants, and small hotels around the sandy urban beach.
You can also find a lot of fresh food for cheap prices in the daily central market. There are many tapas bars here that offer traditional Spanish dishes.
There is a large British expat community in Alicante. Many of them live in this city. As a retiree, you can enjoy the areas around Denia and Xavia to the north, and Torrevieja to the south. Also, many people speak English in the area, and lots of English-speaking schools are available there.
3. Málaga
Malaga is one of the oldest cities in the world, located on the south coast of Spain. The city enjoys mild winters and hot summers. It has a pedestrian-only city center, which can be a tranquil area for retirees.
You can also enjoy great urban beaches, museums, restaurants, and tapas bars in Málaga as well. The city houses the Pablo Picasso Museum along with other art galleries and museums. Festivals are also popular in this city. In addition, it offers activities such as water sports, golf, hiking, and trekking in the hills.
The city has a well-connected airport as well easy road links available to other parts of the Costa del Sol. There is also a modern port where large cruise ships land. These features make Málaga one of the best places to live in Spain.
Málaga is also only an hour away from Marbella. Marbella is popular for its ‘Golden Mile’, which has luxurious residential areas and beachfront homes. You can also enjoy the top-class restaurants and bars. It also has great cuisine and favorable year-round weather.
4. Valencia
Valencia is the third-largest city in Spain. In the city there are some English schools although the number of British expats is fewer there. Compared to Madrid or Barcelona, property prices and the cost of living are lower in Valencia. A meal at an inexpensive restaurant costs you around €10. Or, a three-course meal for two in a mid-range restaurant will cost you around €40.
As a large city, Valencia has great air and rail connections. You can also find major hospitals, universities, as well as lots of beautiful parks. There are science and art museums and concert halls in Valencia. Some festivals are also popular. They include the festival of Las Fallas held in March, and La Tomatina is held in August. The city also offers local golf courses.
Located in the Historic Centre of Valencia, Plaza Redonda offers traditional products and handicrafts. There is also a market in the adjacent streets on Sundays. You can find a range of collectible items in this market. It also offers a great range of vegetables, seafood, fruit, herbs, and spices. The beautiful building of Mercado Central is built with a combination of iron, glass, and tile.
5. Barcelona
When you were planning where to retire in Spain, you may have considered Barcelona as well. It is the second-largest city in Spain.
Barcelona is also the capital of the Autonomous Community of Catalonia (Cataluña). It has great architecture. The buildings designed by Antoni Gaudí in the Eixample district are also very popular.
In Barcelona, too, you can enjoy the beautiful parks and gardens, as well as the medieval streets. Again, many tapas bars and restaurants are available in this city. They serve exceptional seafood and different Catalonian classics as well.
As a retiree, you can enjoy the beaches both in and around the city. The amenities and infrastructure in the city are also quite good since the improvement works for the 1992 Barcelona Olympics.
6. Bilbao
Being in the north of Spain, Bilbao is located in the Basque country. It has low crime rates and high quality of life. Compared to the aforementioned cities, summers are mild in Bilbao. So, you won’t feel the intensity of hot summers much.
The city is popular for having one of the greatest healthcare systems in Spain. Furthermore, the English speaking community is thriving. So, Bilbao may turn living in Spain into a great experience for you.
The city has some great green spaces and parks to get rest. The population is also a bit smaller, hosting around 350.000 people. You can stroll around the estuary, or ride a bicycle, while the younger expats can skate as well. Pedestrian bridges connect the two sides of the estuary.
7. San Sebastián
This city is located on Spain’s north Atlantic coast, and is also part of the Basque Country. It boasts beautiful urban beachfront views. Its beaches, such as Playa de la Concha, offer a great view of its long promenade. San Sebastián is quite an old place, having been a popular resort since the 1850s.
It attracts many tourists between the months of July and September. At other times, it is relatively a tranquil place. Its climate is also a mild one even in winter.
8. Costa del Azahar
Not as well-known as Costa del Sol, Costa del Azahar has a smaller population. It is a welcoming place for English-speaking expats. This place is also known as the Orange Blossom Coast and is located in the city of Castellón. It has long sandy beaches and coves, and is only an hour’s drive from Valencia.
The cities Benicarló, Peñíscola, Torreblanca, La Llosa, Benicasim and Oropesa are located on this coast as well.
FAQs on Retiring in Spain
Where do most expats live in Spain?
Most expats live in Madrid and Barcelona. Other areas that are popular with expats are Marbella, the Costa Del Sol, and Alhaurín El Grande.
Which part of Spain has the best climate?
The Canary Islands have the best year-round climate. They have warm winters and temperate summers with temperatures of between 20°C and to 27°C.
Do you get permanent residency if you buy property in Spain?
It used to be true when the Spain Golden Visa allowed you to buy a property that was worth €500,000 or more. However, the program is suspended starting from April 3, 2025.
Can I move my pensions to Spain once I get residency there?
That depends on where your original pensions are. To get a definite answer, you may want to ask your local Spanish embassy.
Is Spain or Portugal the best place to retire?
Spain and Portugal both have pros and cons if you plan to retire there. Therefore, rather than giving you a direct answer, we can say that it changes according to your priorities and expectations.
Will your US Social Security be taxed in Spain?
Yes, the Spanish government taxes its tax residents on their social security earnings. The rates are progressive, 19%-47% depending on your income.
How much does private health insurance cost in Spain?
If you are a non-EU citizen, you cannot take advantage of public healthcare in Spain. Therefore, you must pay for private insurance, which will cost you about €100-200.
Do Americans pay taxes on dual citizenship in Spain?
Yes, you have to pay taxes in Spain as a US citizen. However, you can avoid double taxation by filling out certain forms, such as Form 1116 and Form 2555.
