A Brief Guide to Retiring in Spain

Blessed with delightful climates, exceptional cuisine, and a warm mix of locals and expatriates, Spain is a top pick for those moving into retirement from Europe, the US, and beyond. Before diving into this new chapter and setting up your sunny lifestyle, thorough research is crucial. Follow key steps to ensure a smooth transition into your retirement.

EU nationals can retire in Spain effortlessly thanks to their EU status. No visa or residence permit is required for EU citizens to live, work, retire, or study. They just need to register at the Central Register of Foreigners in Spain to get a Foreigner Identity Number.

Non-EU nationals have two visa choices: the Long-Stay Visa for stays over 90 days (renewable annually) and the Residence Visa for longer stays beyond a year.

Two main options are available for non-European Union individuals looking to retire in Spain, a popular decision among American and British retirees living there. 

Spain Non-Lucrative Visa (Spanish Retirement Visa)

Commonly known as the retirement visa for Spain, the NLV is ideal for retirement and involves six key points:

1. To get spain retirement visa for US citizens, you need proof of steady income from passive sources like pensions, annuities, or investments is required.

   - Principal applicant: Annual income over €28,800 (4 times IPREM).

   - Each dependent: Annual income above €7,200 (1 time IPREM).

2. Working, whether in Spain or abroad, is not allowed.

3. Immediate family members can be included in the application.

4. Enrolling in qualifying private health insurance in Spain is mandatory, as public healthcare eligibility does not apply.

5. For the non-lucrative visa, the intention and application must be made before entering Spain and should be from the country of the applicant.

6. This visa offers a legal permanent residence, a way to receive Spanish citizenship and become an EU citizen.

Golden Visa or Investment Visa

The Spanish Golden Residency is a great option for retirees looking to invest in property in Spain. Key considerations include:

1. There is a minimum requirement of € 500k for investment in Real estate, for others than RE minimum investment € 1,000k.

2. Work is allowed as an employee, an employer, or free lance whether in Spain or in any other country of the world.

3. Immediate family members can be included in your application.

4. You must have qualifying private health insurance in Spain. Public healthcare access depends on employment and social security contributions.

5. Get a Golden Residency in your home country then move to Spain.

6. The Golden Residency opens doors to lifelong residency, Spanish citizenship, and an EU passport.

Spain offers various retirement options tailored to personal tastes and financial situations.

Madrid, the lively capital, blends tradition, culture, and history. With great metro connections, it features lovely parks like Retiro Park for nature walks and affordable dining. Madrid is especially favored by retirees, given the fact that there is a significant community of foreigners, including English speakers. 

Alicante is a beautiful coastal town in the Mediterranean area and can be considered ideal for retirement. It has an international airport, good weather, and a colorful old town with cobblestone streets and active markets even though it is small. Its beachside location enhances the lifestyle with leisurely walks and an active social scene.

Valencia strikes a balance between a city and a beach town, offering amenities like hospitals, universities, and parks. It retains an old-world charm with street musicians and boasts cultural highlights like museums and historic areas.

Malaga, with its pedestrian-friendly city center, offers a clean, green environment. Daily sunshine, a seaside setting, and closeness to the Sierra Nevada mountains make it a desirable spot. Besides, there are other factors that make it stand out as a popular city; the environment is calm and the spirit of the city is lively. 

Barcelona is the second largest city in Spain which is famous for its variety and different shades of traditions, arts and tempting attractions – the creations of Gaudi.  In addition to this, there are facilities that tourists and visitors may take advantage of: beach and nightlife, museums, and good restaurants among others.  Placa de Catalunya adds a unique touch with its flower stalls and street performers.

Bilbao, on the green northern coast, has transformed from an industrial port into a cultural hotspot. Its modern architecture, pedestrian bridges, and waterfront promenade make it a compelling option for retirees who enjoy a mix of historical and contemporary living.