Just a UK Expat seeing the world

If you dream of making Spain your home—rest assured that you’re not alone! For many, the beauty that exists within the heart of the country defines paradise. The culture, sprawling beaches, and quality of life are the basis of appeal for many people—including visitors from a variety of different countries. To some, the shores and slopes of Spain will beckon as a new homestead.

Should you decide to buy property and/or retire in Spain (frankly, nobody could blame you!) it is vital to make sure that you follow a few steps to ensure your transition is a smooth one.

1.        Make sure to have the proper paper work—this is imperative. You will need items like a passport, a NIE (Número de Identificación de Extranjero), and the original (plus a copy) NIE application form. The NIE application process alone could take weeks, so plan accordingly!
2.        Know the lingo. It will benefit you immensely to be able to speak the native language. If you already do—felicitaciones!—you’re a step ahead of the game. If not, start now—this knowledge will pay you back tenfold.
3.        Make sure to figure out your health costs, and whether you will be on public health care or have private medical insurance. This isn’t something you want to have to battle through after you’ve already moved.
4.        If you are moving pets or children, make sure to allow for plenty of time to ensure that they too have the proper visas, documents, etc. to make the transition.
5.        Take care of your finances—this cannot be stressed enough. Perhaps the biggest money issue to sort out when retiring is the security of your pension. This goes double for retiring in another country, as there are tax benefits to be had if your money is handled correctly. Consider transferring your funds to a QROPS in order to be able to access a 30% tax-free lump sum and the ability to pass on %100 of your funds to your loved ones after you die.

A retirement spent enjoying all that Spain has to offer is well within your reach if you plan accordingly. Obtaining the proper documentation, choosing the right property, and securing your finances are all simple steps that will help make your time in paradise perfect! Buena suerte!

Mario Vitanelli is a freelance blogger who specializes in writing about international finance. When he’s not testing his culinary boundaries or taking scenic photographs, you can find him devouring economic policy publications.