Spain is a pretty solid choice when it comes to retirement. With its warm weather, amazing food, and a welcoming vibe from both locals and people from all over the world, it's easy to see why folks from the U.S., Europe, and other places pick it. But before you make this big move, there’s a lot of stuff you’ll want to look into. Doing research and sorting out all the important things helps you settle in smoothly.
Well, the Spain retirement visa requirements vary. If you’re not an EU citizen, your stay length matters – temporary or forever. Many lean toward long-term visas. British retirees, especially, like the Non-lucrative and Golden Visas.
The golden visa program lets people (non-EU nationals) get a renewable residence permit in Spain if we invest at least €500,000. That money can go into real estate, bank deposits, or even starting a business that creates jobs. This visa is first valid for two years but after that, it can be renewed every three years. A few perks include the ability to travel freely within the Schengen zone, bring your family along, and not having to stay in Spain all the time. If you stick around for 10 years, you could even apply for Spanish citizenship.
Now, qualifying for this program isn’t just a walk in the park. You need to either transfer €1 million in capital, make a business investment of €1 million, or throw in €500,000 toward real estate. On top of that, taxpayers in Spain can benefit from specific deductions. Depending on how old you are, you get personal allowances ranging from €5,550 to €8,100. Plus, there are more allowances if you have kids under 25, anywhere from €2,400 to €4,500. If your child is younger than three, you get another €2,800 tacked on.
If you're not looking to work, though, there's another option: the Non-Lucrative Visa. This visa is great for retirees who just want to enjoy their time in Spain without the hassle of finding a job. The non-lucrative visa lets people stay for up to three years. But to get it, you need to prove you can financially support yourself. That’s a big deal. They don’t want you coming over and becoming a burden.
Good news for families, though: you can bring your spouse or partner, your kids, or even older relatives.
The financial requirements are clear. You’ll need to show that you earn at least €2,450 monthly, with another €600 for each dependent you bring along. You might need to submit bank statements or other proof of income, and, of course, every dependent has to show the relevant documents.
The process can be a bit of a headache. There’s the national visa form, passport, medical certificate, photos, Spanish health insurance, police clearance, and an NIE number. But once you’ve gone through all of that and lived in Spain for five years, you can apply for a permanent residence permit. After another five years, you might be eligible for citizenship. It’s a long road, but both the Golden Visa and Non-Lucrative Visa can open doors for those willing to make Spain their home.
When thinking about where to retire in Spain, it all depends on the kind of life you want to lead. Some people picture themselves in a coastal town with a breeze off the Mediterranean. For others, a place like Toledo or Badajoz won’t quite cut it. You’ve really got to know what lifestyle suits you before diving into the decision. Spain is a large country with lots of different vibes, so there’s something for everyone.
Now, when it comes to buying a property, you really need to check out how much housing costs. Tinsa’s Local Market Index says (it’s in Spanish, by the way), that the average price per square meter in Spain is around €1,421, at least it was in Q2 of 2021. Of course, coastal areas are pricier, and the Balearic and Canary Islands saw a jump of about 8% during that same time.
Spot Blue, a big real estate group, came up with the best places to live in Spain for expats.
First on the list is Alicante, on the Costa Blanca. This place is known for its 320 sunny days a year, its beaches, and plenty of shopping and entertainment.
Javea, another Costa Blanca town, is more laid-back, with a milder climate and a good-sized English-speaking community.
Then there’s Malaga, on the Costa del Sol. It’s a bigger city, full of history, art, beaches, and solid public transport.
Marbella’s also in the mix—Americans tend to love it for its fancy shops, restaurants, and a cool blend of old and new vibes.
