5 Things to know when retiring to Spain

Spain is a sought-after haven for retirees blending European luxuries, summery climate, and prolific coastlines. On top of that, its most attractive character is primarily the low cost of living without the compromise. In other words, Spain has the essential ingredients for a perfect retirement.

Spain Ronda

Ready to move yet? Well, hold your horses as making a successful move, all the more retirement, to Spain requires extensive groundwork to make sure things run smoothly. To get started, here are some important things to consider when moving to the Iberian peninsula.

ACCOMMODATIONS

Spain is a great option for buying a holiday home and Costa del Sol is among the trendy options recently. It is a glorious part of Andalusia where there are excellent international schools and top class medical facilities. There is easy access to the rest of Spain and the world – comprehensive bus services across the region, modern rail connections and well-served airports.

Costa del Sol

If you are looking into buying your retirement home in Costa del Sol, look no further than Sunshine Golf Properties. They have a comprehensive list of villas, townhouses, penthouses, and apartments that fit every housing needs. The Costa del Sol property market is booming so, why not take the opportunity to check out the numerous developments for your (future) retirement. The next option would be Valencia.

TAXES

Like most countries, if you are spending more than 6 months in Spain, you are therefore considered a resident. This means that you need to obtain a Spanish tax identification number and pay your dues as a resident. Your tax ID is also necessary when buying a property in Spain.

OPENING A BANK ACCOUNT

It pays to get a local bank account when you move to Spain. From purchasing transport tickets to holiday homes, having a bank account will certainly make your life easier.

Spain Taxes

You may send over your pension to a local Spanish bank account and may keep it in some currencies or convert immediately to Euro (€). You may choose from the “big four”: Santander, Bank of Bilbao and Biscay, Bank of Barcelona and Seville, Bank of Madrid and Valencia or opt for a small, local bank.

HEALTH CARE SYSTEM

Spain has a comprehensive healthcare system that can be enjoyed by all residents. Despite that, some prefer to receive private care to ensure priority and utmost care.

SPANISH PEOPLE

Ever heard of siesta? Well, it’s the epitome of Spanish lifestyle. It signifies the laid back way of life of the Spanish people. Aside from relaxation, they are also very sociable people so don’t be surprised if you are often invited to tapas night.

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Published by

Sarah Berthe

Hey there! I am a small town girl who used to work as a Software Engineer for a Fortune 500 company. I left my 9-5 job to travel the world. I am a certified Level 2 scuba diver, a Vinyasa yogi and a former IT professor. I love trekking the mountains, fishing and camping. I speak 5 languages. Cheers!

One thought on “5 Things to know when retiring to Spain

  1. This is the reason I love to book another tour back to Europe more specifically Spain aside from the nightlife and the food it offers I can’t wait to try its beaches.

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