Who can blame you for wanting to move to Spain? It really is sun, sea, and sangria – and that’s only Benidorm.
While Benidorm has its benefits (£1 pints are always nice), there are so many other beautiful parts of Spain. Think of rich culture, incredible food, and fiestas what feels like every week.
Spain is experiencing a massive influx of migration rates. The migration rate is sitting at 0.858 per 1000 population, a 0.12% increase from 2023. And we completely understand why people want to move from the UK – it’s cold, our food isn’t as good, what little culture we have left is dying out, and it’s probably going to rain tomorrow.
Still, sadly, post-Brexit, it’s not that easy to move. Below, we’ll give you some of the key things to consider when moving to Spain from the UK.
Sorting Out Your Visa and Residency Requirements
Brexit has made the immigration process to Spain a lot more complicated for UK citizens. As a result of that, Spain has introduced three kinds of visas to ease the process.
- Work Visa: This is meant for those who are self employed or employed by a Spanish company
- Retirement Visa: The retirement visa is for retired individuals (believe it or not) who have sufficient funds
- Digital Nomad Visa: A new visa aimed towards digital nomads that wish to stay in Spain while working remotely.
All those visas have specific requirements that not everyone meets. There’s also the Non-Lucrative visa, but you would need €28,000+ in savings and wouldn’t be allowed to work in Spain. You can see a full list of the Spanish visas on www.exteriores.gob.es – the Spanish government website.
Applications can take time—sometimes up to eight months—so plan ahead. Don’t forget to apply for your NIE (Número de Identificación de Extranjero), which is essential for everything from renting a flat to opening a bank account.
Choosing the Perfect Place to Live
Spain has so many incredible places to live. You could be interested in the fast pace of life in Madrid, or the beaches in Alicante, or the cultural Barcelona appeal. Every part has something to offer.
- Andalusia: Reasonable property and plenty of sunshine (too much in the summer)
- Valencia: City life blended with beautiful beaches.
- Canary Islands (not technically Spain): Never ending sunshine and a relaxed lifestyle.
Research housing, check fresh places , and think about the distance to educational institutions (if that’s what you need), clinics and shops before deciding it’s the place for you to live.
Managing Money and Currency Exchange
A relocation to Spain would imply a currency exchange from pounds to euros, which can impact expenses a lot. Often, for people in the UK, that’s for the better. Euros (for now) go further in Spain than pounds do in Britain. Although, we will warn you, Spain is becoming more expensive.
Everything from taxes to investment is different. The tax system follows in progressive ladder process, which equals people paying much more tax in the UK, including on investments. Still, investments are very much possible in Spain. A forex broker can help you with currency exchange. The top forex brokers will help you get the best exchange rate and manage your money.
Knowing a reliable euro currency exchange near me can help you with:
- When purchasing properties or vehicles
- When transferring pensions or money on a large scale.
- When taking care of the day-to-day expenses.
If you search for a currency exchange near me, not all of them will be reliable and not all of them have the best exchange rates – be vary of that.
Taxes and Investments in Spain
The tax system is worth its own section. It’s so complicated, especially for people from the UK. If you are living in Spain and earning an income or want to invest, we’d highly recommend getting a financial advisor and accountant to manage your money.
- Income Tax: Rates vary by region but are higher than in the UK, going as high as 50%+. Tax is paid quarterly, then one final summary payment at the end of the year.
- Capital Gains Tax: Whenever properties are sold or investments are made.
- Property Taxes: This is required during the purchase of a residence.
Follow this link if you want to learn more about the Spanish tax system and investing in Spain. Realistically, the information we could tell you needs an entire article.
Healthcare and Insurance Options
Public residents of Spain benefit from excellent healthcare with the Sistema Nacional de Salud (SNS) providing some of the best care in Europe. A lot of Spanish nationals also have private healthcare through their bank. If you’re from the UK, you might prefer access to private healthcare in the Quiron’s as most of them have more English-speaking doctors and nurses.
Insurance, whether it be healthcare or otherwise, is necessary for a visa (mainly healthcare). Think about your requirements and choose policies accordingly. There are plans available for expats by providers like Allianz and Cigna.
The Spanish Lifestyle
Relocating to Spain isn’t just about changing places. It is a dream that everyone deserves to live. Get a feel of the culture by adopting to a few changes to your lifestyle:
- Learn Spanish: It is very important to blend within the community. They will respect you so much for it!
- Plan Finances for Leisure: Spain has a more affordable standard of living making food, travel and entertainment cheaper…for now.
- Get Involved Locally: Participate in expat forums or local events in order to make friendships and sense of belonging.
Relocating to the UK to Spain will be one of the best things you can do if you have the means to. There’s so much about Spanish life and culture that’s better.
Start planning today—your Spanish adventure awaits!
