Retiring to Spain, Living in Spain as a Retiree

Retiring to Spain

Retiring to Spain, Valencia is the best places to retire, beautiful beaches and warm temperatures during the whole year. It is an amazing mediterranean coast city. Visible vestiges remain of Roman, Medieval and Moorish periods in the city’s history, but its most spectacular architecture dates to the city’s 15th century golden age.

It’s also one of Spanish’s largest cities, and with a population about 800,000 citizens. it’s compact and manageable, and it’s known for having beautiful beaches and orange groves. For sure you’ll find a nice home-away-from-home in Spain.

If you’re considering making a new life for yourself or your family in Valencia (Spain), you’re hardly alone. More than 5.5 million foreign nationals are now living in Spain, accounting for more than 12% of its population. Spain’s expat population is increasing by British, Germans, French, Italians citizens, but an important increasing number of Americans are finding their way here, too.

retiring to spain, walking on the beach

Requirements to retire in Spain

If you are interested in get a residency visa from another EU country in Spain, you should know that it isn’t transferrable to Spain without go through a visa process. To get an Spanish residency visa, you’ll need to apply for the visado de residencia from the Spanish consulate nearest to you before you travel to Spain.

For American retirees, rules for residency visas for citizens of the United States may change slightly over time. However, in general you’d go through the same process as any other foreigner. You’ll apply for the visado de residencia from the embassy nearest your home Then, will it’s up to the Spanish authorities to grant you a visa. Contact ASSISTyouUP, our immigrations lawyers will find the best way to get your SPANISH VISA.

visa document

Living Costs in Spain

Retiring to Spain -Valencia- pretty much guarantees you can retire comfortably. If you’re willing to budget and live cheaply, as little as €20,000 yearly here is a dream to come true.
Also, real estate prices have remained low ever since the 2007 financial crisis. So if you’re looking to buy property in Spain, AssitsyouUP will find your DREAM HOME, now is still a good time to make a profit investment here or buy a beautiful place for living with a real high quality of life.

bills and coins

Spanish Healthcare

European people in receipt of an European Pension are entitled to the same level of state healthcare as a Spaniard under the national insurance scheme. This is thanks to Spain and the European Union members of the European Economic Area (EEA), meaning certain benefits are transferrable between all their countries.

Pensioners should start the process before leaving their countries, by applying for an S1 form from the International Pension Centre. Once in Spain, register your S1 at your local Instituto Nacional de la Seguridad Social (INSS) office to receive an accreditation letter, which will enable you to register with a doctor at your local medical centre.

ASSISTyouUP is an expert in the provision of advice and support to those planning a new life abroad, particularly in retirement for more information contact us.

hospital in valencia

Spanish Tax for Retirees

Retiring to Spain and spending more than 183 days during a calendar year there means you should become tax resident there. This means you will need a Spanish tax identification number, known as an NIE, which you also need to purchase a property and other many issues.

Once you are tax resident in Spain, you are liable to pay income tax there on your worldwide income. It is highly likely you will need to file an annual Spanish tax return and declare any assets outside of Spain, especially if you will need to claim any tax relief. It is advisable to get help with filing your annual tax forms in Spain.

This will ensure you not only follow the correct procedures and complete the right paperwork, but are in a position to take any appropriate measures to minimise your tax liabilities.