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We moved to Valencia in Sept from the US, and now with a couple months under our belt...can confirm this is a very reasonable assessment of moving and living costs -Jeff H
@@msvideotime Didn't affect us at all in the city. South of the city was hit hard with lots of mud and cleanup still underway and hundreds of destroyed cars on the side of the highway and stacked in big piles
@@ducatimonsterparts May I ask, why did you choose Valencia? It seems a popular destination for Americans moving to Spain - and, it's a nice enough city but nothing out of the ordinary for Spain. so I'm curious what's the draw?
@@MalcolmRose-l3b I think like a lot of people, Valencia hit the "Goldilocks Zone" for a lot of quality of life factors. Climate, cost of living, services, transportation, activities, etc. And at the risk of sounding cheesy, vibe. Of the 3 cities we visited, Valencia just has a chill, friendly, relaxed vibe. We could immediately picture ourselves living there. Having been here a couple months, the ONLY thing we don't like about the city is real estate prices.
I am going through the process now, and the costs displayed are based on the region you are going to. We are in a small town near to Alicante, and our rent , 3 bedroom apartment is €600.00 per month. Idealista - in our experience were awful, a lot of properties had been rented, but still advertised, so we contacted the estate agents directly - Immosol were very good as an agency,
James, I’m so glad you did this talk. I’ve been wanting to look into Spain and I’ve been wanting to know a lot of things not the least of which is how much I’ll need to start me off though I intend to get the working and student visas
Great job James, and perfect timing I might add. It’s all those little details that helps one make an informed decision. Yes, you should consider doing more of these here and there. Thanks for taking us along, learned something new.👍💕
Hi I’m from Florida as well I got a question did you get dual citizen ship? And what are the steps to apply I went to el consulate de España en Miami pero vi reviews q son rudos en persona cuáles serían los pasós para optener visa de retiro
@@msvideotimeConsular services absolutely suck everywhere, even for Spanish citizens by birth. They are terribly understaffed and can’t cope with the deluge of naturalization applications.
Great information. Although it was not covered, the good news for those who receive a “public” pension (military, civil service, police, fire service, other retired government employee) from their home country (depending in double-taxation treaties) are exempt from Spanish taxes on that income. However, income or an annuity from other sources such as a private pension, 401K, social security, etc… is still taxed but the double taxation treaty will minimize how much one would pay to Spain.
I have been wondering about this. Since wechave the Standard Deduction , I don't get taxed much. Does Spain tax that amount exempted by that deduction ?
I would recommend to have AT LEAST the amount of one year's living expenses as a bare minimum, plus the expenses you will have (property tax, gestoria, full health insurance, etc.). It takes about 6-12 months to get through the administrative hurdles and make connections with the locals, which can help you get a job much easier. If you are not Spanish and don't have a Spanish friend who can recommend you, it is not easy to get a good paying job in your profession, I would say without speaking the language at least B2 level it is almost impossible. In some professions (e.g. health care) the homologation of your diploma is obligatory (even if you are from the EU), which requires a B2 (or in some cases C1) Spanish exam just to submit, and after that the process takes about two years.
Not only that, but in some areas they actually demand not Castilian Spanish, but their local Spanish language. Crazy, when Castilian Spanish is compulsory for all Spanish citizens and local languages are a personal right, so supposedly voluntary. You might not be able to get a public job without knowing both the Castilian Spanish and the local Spanish language. Even Spaniards only speaking Castilian might not be able to find a job in those areas, but people from there can fin jobs in all Castilian speaking areas. There you are, craziness.
@@evamarspanish7815 Depends on the job sector. I live in Barcelona but I am not Catalan. I've never been asked to speak/know Catalan at any job (marketing). I mostly have worked for multinational companies where English is the main language spoken. In my current company I have plenty of coworkers who not only do not speak Catalan, they barely speak Spanish (when I say barely I mean they need help for most basic things, I've had to call to their bank or insurance and be the translator quite a few times. But they can order food at a restaurant. I mean, priorities, right? lol)
Short answer: A LOT if you live in any of the big cities (Madrid, Barcelona, Valencia, Bilbao). Rents and housing prices have exploded over the past several years. By any measure, there's a housing crisis in the big cities today. Count tell you how many people I've met who planned to get a job here, found out that Spanish salaries are abysmal and the cost of living high. Many got caught out and ended up broke and having a tough time moving back to where they're from.
It's fairly common sense that moving to a big city is going to he expensive. Don't understand how people got caught out. Did they not do any research before moving?
Yep, and if you have a lot, the Government will try stealing it all through absurd Wealth Taxes and costs dealing with an ever-changing and unclear tax bureaucracy.
I'm from Brazil and i was in spain 2 years ago, i fell in love with this country. I expect the company i work for can transfer me to Spain branch. I wish the best for spanish people and Spain.
About private healthcare is good to point that prices changes depending your age, more older, more expensive, but with full coverage for 60 euros month you can have it without issues in almost every place like adeslas, sanitas, etc. Plus, usually good companies will pay you the full price of the coverage.
In the USA an employer provided healthcare policy for a married couple is about $400/ month. So for Americans, aside from those with exceptional circumstances or disabilities, you're saving about $2,300 a year on healthcare costs by moving to Spain.
@@grontelp77 For retirees, as we are at ages 74 & 67, our required private insurance health care costs, that are necessary to provide to the consulate along with our visa applications, will be €500 per month for both of us. The cost of the insurance is greatly dictated by age, and if we were both 20 years younger, it would be something like half that amount, or less.
@@grontelp77 And that's only savings on the premiums. To meet visa requirements, you must have a no copay, no deductible insurance plan. Most US plans have copays and deductibles. So, you're saving a lot there as well. On top of that, things that are not covered are likely going to be much cheaper in Spain than in the US.
Really helpful video, thanks James. My wife and I are moving back to southern Andalusia next year once we retire and these are exactly the questions I've been looking for help with. We lived in Spain for 3 years previously but that was 20 years ago and costs have changed a lot since then so this update is just what we needed. Thanks again.
@@sarasmile184 The Costa Tropical is my favourite region, Almuñécar is my favourite town. I find it's still quite a traditional Spanish town rather than a tourist town like Nerja. I love Nerja but only to visit, for a place to live I would choose Almuñécar every time. My daughter was born in Motril hospital while we were living in Almuñécar 21 years ago so there's a real connection for me.
Plus we had to pay 6 months rent in advance plus two months deposit. Sometime you can get insurance the landlord pays for to protect the landlord. We live in Asturias. (Northern Spain)
Thanks for such an informative video. I have a dream of retiring in Spain, where I lived three different times in my 20s and 30s. The overall costs were quite a bit higher than I expected, but I understand you tried to cover a lot of scenarios and not all would necessarily apply. I’ll definitely watch your finance model video. ❤️
When my husband and I came to Spain from the US in August 2022 under a Non Lucrative visa, we had to show proof that we had a place to live for one year. We needed a signed one year lease as part of the visa application. This was a bit tricky for us since the landlord was leery of signing a lease longer than 11 months. She wanted to protect herself from bad tenants. We were told that we needed to have proof of lodging for the length of the visa. Bottom line, we were able to find and secure a furnished rental online before we came over to Spain.
Some of the US consulates used to ask for that, but they've relaxed those in recent times, meaning only a few ask for a 3 month lease (airbnb usually works) and the rest don't ask for one at all. I hope all is working out in Spain for you!
James thank you for this!! my wife and I + 2 kiddos and my father in law all looking to relocate to spain here this upcoming year from USA, this is very helpful for baseline information. we were originally looking into Barcelona before we found out about the huge wealth tax and now looking into Andalusia and Madrid to find our new home. will keep watching and subscribed!
The grass is always greener on the other side. After 2 months, you will want to move back home. I have been to Spain a few times and I love it. However, living there versus holidaying there are two different things.
Yup. I had a great time, too, once each in Madrid and Barcelona, but if I were thinking of moving to Europe, I'd go first for 3 months on a tourist visa during the worst (for me) weather of the year, in this case summer in Spain.
Best comment on this thread. Most people do a terrible job of underestimating just how much they will miss their friends, family and general culture; not to mention greatly underestimating how much money they'll need to live here. This is no knock on Spain btw. I've lived in many different countries and the story is the same. You won't leave your problems behind; wherever you go, there you are.
Not coming from the US (but EU) means I can skip some costs. Interesting video. We are planning to buy a house without mortgage, so a good € 2,000,- a month for 2 persons may be a good indication.
I appreciate you taking the time to give us all the super helpful, important information🙏🏼 When is the next food-based video? I love those SO MUCH! I watch your tapas crawls on rotation😂
Feliz Navidad! I hope you and the family are doing well! Always love your videos; thank you! I wanted to ask if you could do a video on a specific topic that many of my Spanish friends and family are talking about, which is dual nationality, especially if you have a husband/wife/partner who is not Spanish and/or if you have a child with parents from Spain and another country (which is not South America and countries on the list of dual nationality)... Is there a way around it? There are many different answers out there; I would love your take as it might also apply to your family. Happy holidays and 2025.
unfortunately a lot of retirees will Not have the necessary funds if they are on State pensions. Example for Australians ,single pensioner is A$29,754 per year, couple A$44,855 per year. Converted to Euros is 18,197 per year ,couple 27,430 per year.UK and USA pensions are also low. Plus if they are 67+ the health insurance costs are going to be a lot more than for someone 55. The good old days are OVER.
Great. Everything I read (even on the Spanish Embassy website) for the past 2.5 years has said the passive income for the non-lucrative visa was 2,600 Euros, which I was barely going to make with Social Security and my 401K. I could never get anyone to answer me if you needed the savings AND the monthly income. No surprise, I called my local consulate many times and no one ever answered and when I emailed fir clarification, they sent me back to the confusing website. Lol. Well, at least I know for sure this isn't possible for me now to retire in Spain and I'll have to make other plans. Thanks for being someone in this business who FINALLY answers this question. Did it change recently? I haven't checked in a few months.
Hello! Just to be clear you don’t need savings AND passive income. But you can combine both to reach the required financial minimum . Or you can do it with one or the other.
@spainrevealed Thanks for the reply. Like I said, I was barely going to make the 2,600 Euros. I don't have much in savings either. I'm 58 and in a stable, but not high paying job in the US. But unfortunately, I started planning for retirement late, so I don't have time or means to get enough money in time.
@@etherealtb6021 Hiya, you could think about this, which I know sounds slightly counter intuitive - France has a much lower threshold than Spain for their retirement visa, the tax treaty is more generous (they don’t tax social security), and just like Spain, after five years you can apply for permanent residency in the EU, which would allow you to move to Spain at a lower income level than the NLV. It’s totally doable as a single person to live in either country at that income, provided you choose the right area (eg, not central Paris, BCN, Madrid or Bilbao). Just some thoughts for you!
@@spainrevealed Thanks again for you honestly and going over the numbers realistically. It helps people plan their lives and realize they need to plan a trip to Spain, not waste time on a move they can't afford. 😌
I was looking in south Italy but after thinking about it Spain is in between France and Portugal so more to see, and it more modern in Spain. So I guess its Spain,since I do speak Spanish 😮😮😮
Out of sheer curiosity, did this include electronics (which I know would require adapters/converters)? And, would it not have been cheaper to just replace everything in Spain?
@@danielschwartz5816thanks for sharing! How has your experience being in Valencia. I was raised in Mexico and now live in the States. Over the last couple of years have considered moving to Spain.
In my experience after moving and living long term in 10 different countries from as cheap as Dominican Republic to as expensive as Switzerland or Singapore, the basic rule is that its going to be a whole lot more expensive than they tell you on youtube, sometimes 3-4x more! Spain I would assume closer to Euro 80-100K (after tax) should be comfortable enough, but who knows, I thought Costa Rica was going to run me US 50-60K (many influencers were saying 3-5K/month) and its currently running me 140K for a 2 bed home in a gated community without travel, 1 car, private insurance, and private schooling for a family of 3 people with dining out about 1-2x per week.
@@BlackHoleSpain Sure I understand and you are correct. The average income is low vs cost of living (it is in most countries except for say Switzerland or Singapore). This is why traditional families barely exist these days. I'm looking at it through the eyes of your typical "expat" who is not willing to settle down in some unknown town far from the coastal beaches, who wants the security of a gated community, who does not want to share his stuff & wants their own car, do some extra shopping, buy organic food, potentially put their kids in a private school, who may require private insurance, and also enjoy a few cocktails throughout the week with friends at the club house or port restaurant. And I'm not even talking high luxury life here, if you want to play golf, own or go on yachts, enjoy regular fine dining, live in a modern home with pool with ocean views, make outings to Ibiza, have 2+ cars, and only wear brand name clothing it will likely be far more, at least 150-200K/year (for a couple) and that means earning closer to 300-350K which many who live by the coast of say Marbella can afford. So yes if you want to live in a small town away from the coast, take the bus/bike/walk, cook at home, live 2-3 people in a 1 bedroom 50m2 apartment, buy only necessities, not go out for dinner very often, and share everything with your neighbors you can live in Spain with a lot less of course. The Spanish Prime minister is certainly earning a lot more elsewhere in other ways, you can bet on that.
I think (don't get offended) you may have high living standards ! 80-100k in a country such as Spain, France, Italia is just a crazy high number ! Only a few % of the population can make this high figure. Coming from France, 3000€/month already offers you a comfortable live. 80k-100k offers you a king's lifestyle !
Very much appreciated!! Thanks for breaking this down, humbly I would ask if you can do the same break down of costs for the Digital Nomad Visa and/or Student Visa with a married partner and child? Just to have a ball park of what those expenses look like as well?
I’m sure James will get around to this, but in short, all the costs are the same (visa fees depend on your country of origin, not the visa type) except that as a student you are maybe more open to living in a student apartment with roommates, and for the DNV, the income needed is a bit higher to qualify, and you’ll have to be a 1099 independent contractor if you’re moving from the US. Nope this is helpful.
Hi James, was thinking of spending a month in Northern Spain with my husband next Fall to surf, immersion Spanish class as well as some cooking class. Have any recommendations for quaint locations? Thought to fly into Madrid then go NW to the coast facing the Cantabrian Sea
good show very informative coming from the US i would say Spain in general much lower cost of living but if your retired on a fixed 40k a year income you will live decent in Spain or you can make that leap and live well aka la vida loca in Thailand 😁
€1,550 per month for an apartment? Not so cheap in Spain then. You can get a 3 bed detached house here in the UK for less than that. Not two streets back from the beach, granted, but still…😮
Malaga is experiencing a boom as foreign tech companies have begun to set up European offices there over the last decade - house prices in the city have pretty much doubled in the last seven years and rentals have gone up accordingly - high property prices that locals can't afford are one of the reasons Malaguenos are protesting the city government's initiatives for more tourism. I can pretty much guarantee that your €1550 a month will get you a larger furnished flat than you would find in London - you can get a nicely furnished three bedroom 110m2 flat for that kind of money easily in Malaga - my tenants in London pay about the same amount for a 60m2 2 bedroom flat in North London. And the presenter didn't mention that if you look outside the city of Malaga and look around Malaga Province you can find very cheap property in the villages away from the coast - I live about twenty minutes from Malaga and my friend just bought a bolt hole here for €85K (so less than a €100K including fees and taxes) - if your budget extends to €150K then your options expand greatly. This is a village with 960 people about ten minutes drive from the beach - it has three bars (all serve food), a bank, pharmacy, hairdressers, small supermarket, a beauty therapist, and a sweetshop and good broadband. BUT, you need a car to go anywhere else to do anything.
James, I´ve just found this on a Spanish lawyer´s website: "Previously, you needed to spend at least 183 days in Spain per calendar year to renew your non-lucrative visa for the next year. However, following a recent verdict, this minimum stay is no longer required. On March 5, 2024, the BOE announced a Tribunal Superior ruling which overturns article 162-º-e of Real Decreto 557/2011. The clause stated that visa holders could not be absent from Spain for more than six months in a calendar year. This means that visa holders won´t risk losing visas if they spend more than six months per calendar year outside Spain, as long as they meet all the other requirements." Please could you confirm that this is correct. Thanks.
You have to spend at least 183 days per year in Spain to renew your visa. This used to be the rule, and then the Supreme Court overruled in (about a year ago I believe), and a recent law change has explicity brought it back. So yes, if you want to renew your NLV, you must live here at least 183 days per year (effectively to make sure you become a tax resident).
I moved to Spain from he U.S., and I was told that with a non-lucrative visa you are not allowed to work for any company operating in Spain, but that you indeed CAN work remotely if the company is, for example, a U.S. employer…so to say you’re not allowed to work remotely is not accurate.
You cannot work on a NLV. You can have a passive income like rent from a property you are renting out. You have to prove that you’re not working as part of a NLV application.
As a Brit I wish we hadn’t left the EU I remember around 12 years ago I just went to lease a bar 650 euro a month and paid 11k for the 5 year lease That was it !!! So easy
Thanks for detailed overview! But how the locals then living there with their 1300 Euro average salaries? Is your calculation more for a richer Western people who are moving to Spain for other reasons than live on budget? I visited once Malaga, Marbella and fell in love the region. So thinking about spending low season in Spain and summers in Lithuania. I'm working without office, just laptop, so your video is very helpful! ☀🕶
Imagine how hard it's for a local citizen to live (or should I say survive) with a median salary of 1500 euros per month, which is below minimum wage in many European countries.
Thanks James. We rented an apartment in Valencia this year and was interested to find out from your video that the one month real estate fee is no longer legal. Can you advise please on the exact date this law came into effect? Many thanks
I moved to Spain from California in 2019, 25,000€ in a bank account per year for a non lucrative visa plus proof of private health insurance . Cost of living in Alicante approx 2k per month nicely living by the coast ! There’s no secret to it !!
Please reconsider the background music, we want to hear you! The music is annoying at best and it will be a problem for anyone with even the slightest hearing impediment.
Visa €0 Health Insurance €60 a month Flights €150 Ryanair including bags Shipping €0 Landing: Hostel €25 per night Initial housing €2300 (shared between 2)
The financial requirement of (IPREM X 4) is that for net income or Gross income? This is something I've been trying to get an answer on for quite some time. Can you respond?
Gross income, though I guess it depends when your taxes come out. The IPREM reflects the amount in your bank account (or hitting your bank account) -- whether you later pay tax on that is irrelevant to the equation.
Hello James. I have been watching your vids for a while and they are very helpful. I have one very big question though. Do I have to speak Spanish fluently to apply for a VISA?
$10, 000 estimated cost -Schumacher international shippers, door to door- So Cal to Granada. Only a few very small pieces of furniture, tools, art work boxes, books, miscellany.
If the spanish goverment requires 36,000 €/year (3,000 €/month) for a couple to grant a non-lucrative visa, then, that is good enough. I am currently living in the city of Valencia with a non-lucrative residence, which is already renewed for the 2nd term for a period of 2 years. Please make a note of this.
@@spainrevealed Thanks. As a EU citizen you must get a residence permit if you stay for more than 90 days in Spain, right? Does that mean that you can have a residence permit in Spain for approx. 90 days without Spain requiring that you pay any tax?
Is the savings or passive income for a non-lucrative visa required half for a single person of what a couple's savins or passive income is? And what about the cost of health insurance for a single person?
It's 400% IPREM for a single person. And 500% IPREM for a couple. So no, not half. Health care -- take what I said in the video for that couple, and halve it (assuming you're the same age).
Is it possible for a Portuguese broke young man to live in Madrid as an actor and singer in a small budget. I won’t need the visa costs but I will need all the other costs most likely. How much do I need to have in terms of money to make a life for myself in Madrid? I hope to be rich and famous and successful but that won’t happen overnight. I am expecting to arrive in Spain broke and make my fortune after arriving. Can it be done? My father will help in any way he can. What do You think
Don't want to burst your bubble but things are getting rough in Madrid. I teach at a small college and my students pay minimum 600 euros for a room in a shared flat with three or four other roommates. Some pay more. After that you have to add up your other living expenses - electricity, food, transport etc ... If you're lucky you'll get a job that pays 1,300 a month before taxes. In fact, most jobs pay less. About 80% of Spaniard live at home until their mid-30's and you can see why. Bring as much $$ as possible. Good luck.
@ I understand. But Portugal is way worse. I am willing to share a flat because I don’t want to be alone most of the time despite the fact I am autistic. And I would be happy to get a job that pays 1300 euros a month by the way. There’s a lot of ways to make money. Your students should know that.
@@korymalone6591I don't know where are you getting that data from but it's not correct at all. The media of Spanish leaving home is 30. That's official data. And been Spanish I don't know anybody that gets paid less than 1.300 before tax working full time. Official data also far away from your statement.
Dont forget: import tax on goods being brought into Spain. IVA at 21 percent. So if you are shipping in 20,000 Euros worth things from your previous house (outside EU), then 4200 Euros, will be demanded at the port.
@spainrevealed based on the visa paperwork in your hand? i own property in Spain but i am not a resident. The Ports (Santander), have been ruthless since brexit.
Yeah, you have to show that you're moving to Spain to set up life here. Show your padron, for example. And potentially residency papers. It varies on the port, and people often have different experiences. Shipping companies can help with this.
I Think you Made The Numbers For a Rich Cpl...No Normal Cpl....I dont Think you will Expend Almost 15 k just To Move to Malaga...Definitely that is Not Acurate Trust me...😂
Can that 30k income be adjusted for retirees with no need for rent or mortgage? In other words, if a home is purchased outright and therefore, no need for a rent or mortgage budget and, the residents are retired, can that 30k requirement be adjusted down?
Hi, yeah I recommend the team over at the firm Bureaucracy. Link here - www.bureaucracy.es/spainrevealed (you’ll get a 10% discount by using this link)
10:18 James, since the 2022 rental law update, only one month’s fianza is permitted. They can and do ask for more, but you can challenge this if you’re willing to risk it. :)
Only one month fianza but article 36 of the governming law states they can ask for up to two months “garantía adicional”. So for all intents and purposes it’s 3 months security deposit maximum (although the terminology is different for the first month and the following two).
What taxes would you pay as a non lucrative visa holder, aside from the VAT consumption taxes? Do they try to tax your income earned abroad, despite being a non lucrative visa holder and ineligible to earn income in Spain?
Assuming you stay for longer than 183 days within a calendar year, you'll become a tax resident. That means you'll be taxed on worldwide income. You won't be double taxed though (thanks to the fact that there are tax treaties). You may end up paying more in tax. Many people find that is offset by the lifestyle benefits and lower cost of living. But I recommend getting a tax lawyer to do a tax simulation for your circumstances pre move.
Probably a very small market, but it would be interesting to see what the costs etc would be for people that hold an EU passport but may have been living overseas from a young age.
If you have an EU passport you don’t need a visa and thus do not need to prove any assets or income. Costs of the move would be the same. And you need something to live off, but you also need no work permit to get a job, you are allowed to work here by being a EU citizen.
However landlords and agencies always insist on seeing "proof of regular income" , they wont accept savings for a rental contract, and you cant get a job without a NIE/TIE, which you cant get withhout an address and bank account, neither of which you can get without a job, etc , etc. Its an endless cycle of documentation and requirements all of which are inter dependent and none of which you can get without the others !!!!
From your numbers it looks like $75k for your first year and probably a little more than 1/2 that afterwards as a minimum if you are not extravagant. No mention of vehicle/transportation costs nor any firm # on taxes
I can guarantee you many spaniards live with less than $75k dollars a year. It is a matter of being slightly more frugal when you get enough experience in Spain.
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Lad your channel is cold .
Been watching for years
🥇🥇🥇🥇🥇🍀🍀🍀🍀😎😎😎😎
Yes, please do more videos like this one! Thanks, James! We've been following you and Yoly for several years and always love your videos!
Idem 👍🏻 ditto 👍🏻
We moved to Valencia in Sept from the US, and now with a couple months under our belt...can confirm this is a very reasonable assessment of moving and living costs
-Jeff H
Hi how you did during the flooding
@@msvideotime Didn't affect us at all in the city. South of the city was hit hard with lots of mud and cleanup still underway and hundreds of destroyed cars on the side of the highway and stacked in big piles
@@ducatimonsterpartsand many people died, foremost!
@@ducatimonsterparts May I ask, why did you choose Valencia? It seems a popular destination for Americans moving to Spain - and, it's a nice enough city but nothing out of the ordinary for Spain. so I'm curious what's the draw?
@@MalcolmRose-l3b I think like a lot of people, Valencia hit the "Goldilocks Zone" for a lot of quality of life factors. Climate, cost of living, services, transportation, activities, etc.
And at the risk of sounding cheesy, vibe. Of the 3 cities we visited, Valencia just has a chill, friendly, relaxed vibe. We could immediately picture ourselves living there.
Having been here a couple months, the ONLY thing we don't like about the city is real estate prices.
this is by far the most informative video I have ever seen. You covered everything and will help me in my forthcoming decision
So glad!
I am going through the process now, and the costs displayed are based on the region you are going to. We are in a small town near to Alicante, and our rent , 3 bedroom apartment is €600.00 per month. Idealista - in our experience were awful, a lot of properties had been rented, but still advertised, so we contacted the estate agents directly - Immosol were very good as an agency,
Good wake-up call, thank you!
Great video, literally just what I was looking for. Thanks James. And it was a pleasure meeting you at the gathering in Madrid last Monday!
So glad it was helpful! I don't think I was at a gathering on Monday - maybe it was someone else? :)
James, I’m so glad you did this talk. I’ve been wanting to look into Spain and I’ve been wanting to know a lot of things not the least of which is how much I’ll need to start me off though I intend to get the working and student visas
this was great. thanks for this. There is this space between going for it and being curious where videos like these are cool.
Great job James, and perfect timing I might add. It’s all those little details that helps one make an informed decision. Yes, you should consider doing more of these here and there. Thanks for taking us along, learned something new.👍💕
Thank you for that. Will do!
My wife and I are moving to Spain next summer from South Florida and this video its really helpful . Muchas gracias
Hi I’m from Florida as well I got a question did you get dual citizen ship? And what are the steps to apply I went to el consulate de España en Miami pero vi reviews q son rudos en persona cuáles serían los pasós para optener visa de retiro
I would wait until this government falls , it’s only going to get worst
@@msvideotimeConsular services absolutely suck everywhere, even for Spanish citizens by birth.
They are terribly understaffed and can’t cope with the deluge of naturalization applications.
@@msvideotimewould you be applying for citizenship through a grandparent or parent?
My Wife and I are doing the same .From Florida to Spain !!
Great information. Although it was not covered, the good news for those who receive a “public” pension (military, civil service, police, fire service, other retired government employee) from their home country (depending in double-taxation treaties) are exempt from Spanish taxes on that income. However, income or an annuity from other sources such as a private pension, 401K, social security, etc… is still taxed but the double taxation treaty will minimize how much one would pay to Spain.
I have been wondering about this. Since wechave the Standard Deduction , I don't get taxed much. Does Spain tax that amount exempted by that deduction ?
Super helpful. Thanks, James! 😊
I would recommend to have AT LEAST the amount of one year's living expenses as a bare minimum, plus the expenses you will have (property tax, gestoria, full health insurance, etc.). It takes about 6-12 months to get through the administrative hurdles and make connections with the locals, which can help you get a job much easier.
If you are not Spanish and don't have a Spanish friend who can recommend you, it is not easy to get a good paying job in your profession, I would say without speaking the language at least B2 level it is almost impossible.
In some professions (e.g. health care) the homologation of your diploma is obligatory (even if you are from the EU), which requires a B2 (or in some cases C1) Spanish exam just to submit, and after that the process takes about two years.
Not only that, but in some areas they actually demand not Castilian Spanish, but their local Spanish language. Crazy, when Castilian Spanish is compulsory for all Spanish citizens and local languages are a personal right, so supposedly voluntary. You might not be able to get a public job without knowing both the Castilian Spanish and the local Spanish language. Even Spaniards only speaking Castilian might not be able to find a job in those areas, but people from there can fin jobs in all Castilian speaking areas. There you are, craziness.
@@evamarspanish7815 Depends on the job sector. I live in Barcelona but I am not Catalan. I've never been asked to speak/know Catalan at any job (marketing). I mostly have worked for multinational companies where English is the main language spoken. In my current company I have plenty of coworkers who not only do not speak Catalan, they barely speak Spanish (when I say barely I mean they need help for most basic things, I've had to call to their bank or insurance and be the translator quite a few times. But they can order food at a restaurant. I mean, priorities, right? lol)
Short answer: A LOT if you live in any of the big cities (Madrid, Barcelona, Valencia, Bilbao). Rents and housing prices have exploded over the past several years. By any measure, there's a housing crisis in the big cities today. Count tell you how many people I've met who planned to get a job here, found out that Spanish salaries are abysmal and the cost of living high. Many got caught out and ended up broke and having a tough time moving back to where they're from.
It's fairly common sense that moving to a big city is going to he expensive. Don't understand how people got caught out. Did they not do any research before moving?
Yep, and if you have a lot, the Government will try stealing it all through absurd Wealth Taxes and costs dealing with an ever-changing and unclear tax bureaucracy.
Great video James, very helpful! Muchas gracias!
Yes. More videos on actually moving and living in Spain. Thank you!
I'm from Brazil and i was in spain 2 years ago, i fell in love with this country. I expect the company i work for can transfer me to Spain branch. I wish the best for spanish people and Spain.
About private healthcare is good to point that prices changes depending your age, more older, more expensive, but with full coverage for 60 euros month you can have it without issues in almost every place like adeslas, sanitas, etc. Plus, usually good companies will pay you the full price of the coverage.
In the USA an employer provided healthcare policy for a married couple is about $400/ month. So for Americans, aside from those with exceptional circumstances or disabilities, you're saving about $2,300 a year on healthcare costs by moving to Spain.
@@grontelp77 Yes, but it depends if you plan to work or retire here. If your plan to work taxes will eat up a large portion of your paycheck.
@@grontelp77 For retirees, as we are at ages 74 & 67, our required private insurance health care costs, that are necessary to provide to the consulate along with our visa applications, will be €500 per month for both of us. The cost of the insurance is greatly dictated by age, and if we were both 20 years younger, it would be something like half that amount, or less.
@@grontelp77 And that's only savings on the premiums. To meet visa requirements, you must have a no copay, no deductible insurance plan. Most US plans have copays and deductibles. So, you're saving a lot there as well. On top of that, things that are not covered are likely going to be much cheaper in Spain than in the US.
I haven't listened to your videos in a while. I love this format and sound! 🎉 hola from Australia 🇦🇺
Really helpful video, thanks James. My wife and I are moving back to southern Andalusia next year once we retire and these are exactly the questions I've been looking for help with. We lived in Spain for 3 years previously but that was 20 years ago and costs have changed a lot since then so this update is just what we needed. Thanks again.
Glad it was helpful!
Where do you like it best in Andalusia?
@@sarasmile184 The Costa Tropical is my favourite region, Almuñécar is my favourite town. I find it's still quite a traditional Spanish town rather than a tourist town like Nerja. I love Nerja but only to visit, for a place to live I would choose Almuñécar every time. My daughter was born in Motril hospital while we were living in Almuñécar 21 years ago so there's a real connection for me.
Thanks!
Thank you! That's very generous :)
Hi James, yes thank you for all your videos. As my move gets closer, I'm even more interested in your videos and more of them!! Muchas gracias!
Glad you like them! Good luck with the move!
Plus we had to pay 6 months rent in advance plus two months deposit. Sometime you can get insurance the landlord pays for to protect the landlord. We live in Asturias. (Northern Spain)
Fantastic watch and nuanced discussion as always 👊🏿
Glad you enjoyed it
BTW, I have been watching your videos for several years while living about 30 min north of Barcelona. Always good advise. Thanks
Great and informative video. Love this!
This is a very good video. Super informative.
I’d love to see more cost breakdown videos like this for Spain, and even moving to other European countries!
James do a video on healthcare options and what to look out for
A 2BR in Huelin Malaga would’ve cost 600-900 pre pandemic. Malaga is absolutely exploding.
Excellently delivery, learned a lot, thanks.
Thanks for such an informative video. I have a dream of retiring in Spain, where I lived three different times in my 20s and 30s. The overall costs were quite a bit higher than I expected, but I understand you tried to cover a lot of scenarios and not all would necessarily apply. I’ll definitely watch your finance model video. ❤️
pues sinceramente no te recomiendo españa
When my husband and I came to Spain from the US in August 2022 under a Non Lucrative visa, we had to show proof that we had a place to live for one year. We needed a signed one year lease as part of the visa application. This was a bit tricky for us since the landlord was leery of signing a lease longer than 11 months. She wanted to protect herself from bad tenants. We were told that we needed to have proof of lodging for the length of the visa. Bottom line, we were able to find and secure a furnished rental online before we came over to Spain.
Some of the US consulates used to ask for that, but they've relaxed those in recent times, meaning only a few ask for a 3 month lease (airbnb usually works) and the rest don't ask for one at all. I hope all is working out in Spain for you!
James thank you for this!! my wife and I + 2 kiddos and my father in law all looking to relocate to spain here this upcoming year from USA, this is very helpful for baseline information. we were originally looking into Barcelona before we found out about the huge wealth tax and now looking into Andalusia and Madrid to find our new home. will keep watching and subscribed!
The grass is always greener on the other side. After 2 months, you will want to move back home. I have been to Spain a few times and I love it. However, living there versus holidaying there are two different things.
Exactly
That’s right , is tax hell and socialists government corruption is at its highest
Interesting. I have heard similar stories.
Yup. I had a great time, too, once each in Madrid and Barcelona, but if I were thinking of moving to Europe, I'd go first for 3 months on a tourist visa during the worst (for me) weather of the year, in this case summer in Spain.
Best comment on this thread. Most people do a terrible job of underestimating just how much they will miss their friends, family and general culture; not to mention greatly underestimating how much money they'll need to live here. This is no knock on Spain btw. I've lived in many different countries and the story is the same. You won't leave your problems behind; wherever you go, there you are.
Thanks God I am living in Jerez de la Frontera. For 1,550 Euro per month you can get a palace here.
ommgg make a vid !
Not coming from the US (but EU) means I can skip some costs. Interesting video. We are planning to buy a house without mortgage, so a good € 2,000,- a month for 2 persons may be a good indication.
Another thing we should look deep into are Taxes as James a have said
Your channel contents are very good. ❤❤❤❤❤
I appreciate you taking the time to give us all the super helpful, important information🙏🏼 When is the next food-based video? I love those SO MUCH! I watch your tapas crawls on rotation😂
Coming soon|!
Feliz Navidad! I hope you and the family are doing well! Always love your videos; thank you! I wanted to ask if you could do a video on a specific topic that many of my Spanish friends and family are talking about, which is dual nationality, especially if you have a husband/wife/partner who is not Spanish and/or if you have a child with parents from Spain and another country (which is not South America and countries on the list of dual nationality)... Is there a way around it? There are many different answers out there; I would love your take as it might also apply to your family. Happy holidays and 2025.
unfortunately a lot of retirees will Not have the necessary funds if they are on State pensions. Example for Australians ,single pensioner is A$29,754 per year, couple A$44,855 per year. Converted to Euros is 18,197 per year ,couple 27,430 per year.UK and USA pensions are also low. Plus if they are 67+ the health insurance costs are going to be a lot more than for someone 55. The good old days are OVER.
Great. Everything I read (even on the Spanish Embassy website) for the past 2.5 years has said the passive income for the non-lucrative visa was 2,600 Euros, which I was barely going to make with Social Security and my 401K. I could never get anyone to answer me if you needed the savings AND the monthly income. No surprise, I called my local consulate many times and no one ever answered and when I emailed fir clarification, they sent me back to the confusing website. Lol.
Well, at least I know for sure this isn't possible for me now to retire in Spain and I'll have to make other plans. Thanks for being someone in this business who FINALLY answers this question. Did it change recently? I haven't checked in a few months.
Hello! Just to be clear you don’t need savings AND passive income. But you can combine both to reach the required financial minimum . Or you can do it with one or the other.
@spainrevealed Thanks for the reply. Like I said, I was barely going to make the 2,600 Euros. I don't have much in savings either. I'm 58 and in a stable, but not high paying job in the US. But unfortunately, I started planning for retirement late, so I don't have time or means to get enough money in time.
Redo the math, maybe you can in a place that is not Malaga@@etherealtb6021
@@etherealtb6021 Hiya, you could think about this, which I know sounds slightly counter intuitive - France has a much lower threshold than Spain for their retirement visa, the tax treaty is more generous (they don’t tax social security), and just like Spain, after five years you can apply for permanent residency in the EU, which would allow you to move to Spain at a lower income level than the NLV. It’s totally doable as a single person to live in either country at that income, provided you choose the right area (eg, not central Paris, BCN, Madrid or Bilbao). Just some thoughts for you!
@@spainrevealed Thanks again for you honestly and going over the numbers realistically. It helps people plan their lives and realize they need to plan a trip to Spain, not waste time on a move they can't afford. 😌
I was looking in south Italy but after thinking about it Spain is in between France and Portugal so more to see, and it more modern in Spain. So I guess its Spain,since I do speak Spanish 😮😮😮
Great video James! I can see that costs have gone up from when we moved.
We paid $15000 in total to ship a 40 ft container to Spain plus hiring movers three times. We wanted to keep our furniture and other stuff.
Would you mind to share from were you shipped the container and as well as name of destination in Spain? thanks
Out of sheer curiosity, did this include electronics (which I know would require adapters/converters)? And, would it not have been cheaper to just replace everything in Spain?
@@rolandkel7696 HI, We shipped it from Veracruz Mexico to Valencia. The container was put on train to Bilbao and then trucked here to Gijon.
@@danielschwartz5816thanks for sharing! How has your experience being in Valencia. I was raised in Mexico and now live in the States. Over the last couple of years have considered moving to Spain.
In my experience after moving and living long term in 10 different countries from as cheap as Dominican Republic to as expensive as Switzerland or Singapore, the basic rule is that its going to be a whole lot more expensive than they tell you on youtube, sometimes 3-4x more! Spain I would assume closer to Euro 80-100K (after tax) should be comfortable enough, but who knows, I thought Costa Rica was going to run me US 50-60K (many influencers were saying 3-5K/month) and its currently running me 140K for a 2 bed home in a gated community without travel, 1 car, private insurance, and private schooling for a family of 3 people with dining out about 1-2x per week.
A white-collar job here makes €25k if you're lucky, so those figures are just outrageous for most Spaniards. Prime Minister himself makes €85k a year!
@@BlackHoleSpain Sure I understand and you are correct. The average income is low vs cost of living (it is in most countries except for say Switzerland or Singapore). This is why traditional families barely exist these days. I'm looking at it through the eyes of your typical "expat" who is not willing to settle down in some unknown town far from the coastal beaches, who wants the security of a gated community, who does not want to share his stuff & wants their own car, do some extra shopping, buy organic food, potentially put their kids in a private school, who may require private insurance, and also enjoy a few cocktails throughout the week with friends at the club house or port restaurant. And I'm not even talking high luxury life here, if you want to play golf, own or go on yachts, enjoy regular fine dining, live in a modern home with pool with ocean views, make outings to Ibiza, have 2+ cars, and only wear brand name clothing it will likely be far more, at least 150-200K/year (for a couple) and that means earning closer to 300-350K which many who live by the coast of say Marbella can afford. So yes if you want to live in a small town away from the coast, take the bus/bike/walk, cook at home, live 2-3 people in a 1 bedroom 50m2 apartment, buy only necessities, not go out for dinner very often, and share everything with your neighbors you can live in Spain with a lot less of course. The Spanish Prime minister is certainly earning a lot more elsewhere in other ways, you can bet on that.
I think (don't get offended) you may have high living standards ! 80-100k in a country such as Spain, France, Italia is just a crazy high number ! Only a few % of the population can make this high figure. Coming from France, 3000€/month already offers you a comfortable live. 80k-100k offers you a king's lifestyle !
The lifestyle you're living in Costa Rica would cost how much in a simar US city. I feel that's the best way to demonstrate the costs and differences.
Very much appreciated!! Thanks for breaking this down, humbly I would ask if you can do the same break down of costs for the Digital Nomad Visa and/or Student Visa with a married partner and child? Just to have a ball park of what those expenses look like as well?
I’m sure James will get around to this, but in short, all the costs are the same (visa fees depend on your country of origin, not the visa type) except that as a student you are maybe more open to living in a student apartment with roommates, and for the DNV, the income needed is a bit higher to qualify, and you’ll have to be a 1099 independent contractor if you’re moving from the US. Nope this is helpful.
@@shinyshinythingseither 1099 or your employer would have to agree to pay into Spain’s social security system, correct?
Id love to hear about the process for transferring to a university in Spain.
Hi James, was thinking of spending a month in Northern Spain with my husband next Fall to surf, immersion Spanish class as well as some cooking class. Have any recommendations for quaint locations? Thought to fly into Madrid then go NW to the coast facing the Cantabrian Sea
good show very informative coming from the US i would say Spain in general much lower cost of living but if your retired on a fixed
40k a year income you will live decent in Spain or you can make that leap and live well aka la vida loca in Thailand 😁
Good luck on the move, Brian and Gene 💃☕️🤣
I would guess, as much as possible.
Hi James, do those insurance policies cover cancer treatment costs?
Yes, as long as it’s not a pre existing condition.
Great video
€1,550 per month for an apartment? Not so cheap in Spain then. You can get a 3 bed detached house here in the UK for less than that. Not two streets back from the beach, granted, but still…😮
Malaga is experiencing a boom as foreign tech companies have begun to set up European offices there over the last decade - house prices in the city have pretty much doubled in the last seven years and rentals have gone up accordingly - high property prices that locals can't afford are one of the reasons Malaguenos are protesting the city government's initiatives for more tourism. I can pretty much guarantee that your €1550 a month will get you a larger furnished flat than you would find in London - you can get a nicely furnished three bedroom 110m2 flat for that kind of money easily in Malaga - my tenants in London pay about the same amount for a 60m2 2 bedroom flat in North London.
And the presenter didn't mention that if you look outside the city of Malaga and look around Malaga Province you can find very cheap property in the villages away from the coast - I live about twenty minutes from Malaga and my friend just bought a bolt hole here for €85K (so less than a €100K including fees and taxes) - if your budget extends to €150K then your options expand greatly. This is a village with 960 people about ten minutes drive from the beach - it has three bars (all serve food), a bank, pharmacy, hairdressers, small supermarket, a beauty therapist, and a sweetshop and good broadband. BUT, you need a car to go anywhere else to do anything.
@MalcolmRose-l3b what is the definition of a bolt hole? Small?
James, I´ve just found this on a Spanish lawyer´s website: "Previously, you needed to spend at least 183 days in Spain per calendar year to renew your non-lucrative visa for the next year. However, following a recent verdict, this minimum stay is no longer required. On March 5, 2024, the BOE announced a Tribunal Superior ruling which overturns article 162-º-e of Real Decreto 557/2011. The clause stated that visa holders could not be absent from Spain for more than six months in a calendar year. This means that visa holders won´t risk losing visas if they spend more than six months per calendar year outside Spain, as long as they meet all the other requirements." Please could you confirm that this is correct. Thanks.
You have to spend at least 183 days per year in Spain to renew your visa. This used to be the rule, and then the Supreme Court overruled in (about a year ago I believe), and a recent law change has explicity brought it back. So yes, if you want to renew your NLV, you must live here at least 183 days per year (effectively to make sure you become a tax resident).
@@spainrevealed Thanks, James. It makes sense.
I moved to Spain from he U.S., and I was told that with a non-lucrative visa you are not allowed to work for any company operating in Spain, but that you indeed CAN work remotely if the company is, for example, a U.S. employer…so to say you’re not allowed to work remotely is not accurate.
The law has been unclear for a number of years. But a recent update to the law has clarified that you cannot work at all.
I'm pretty sure you'll need a digital nomad visa for that now.
You cannot work on a NLV. You can have a passive income like rent from a property you are renting out. You have to prove that you’re not working as part of a NLV application.
As a Brit I wish we hadn’t left the EU
I remember around 12 years ago
I just went to lease a bar 650 euro a month and paid 11k for the 5 year lease
That was it !!!
So easy
Thanks for detailed overview! But how the locals then living there with their 1300 Euro average salaries? Is your calculation more for a richer Western people who are moving to Spain for other reasons than live on budget? I visited once Malaga, Marbella and fell in love the region. So thinking about spending low season in Spain and summers in Lithuania. I'm working without office, just laptop, so your video is very helpful! ☀🕶
Imagine how hard it's for a local citizen to live (or should I say survive) with a median salary of 1500 euros per month, which is below minimum wage in many European countries.
Haha, wonder why this video dropped now 🤔 But seriously, can’t wait to try this in a few years.
Thanks James. We rented an apartment in Valencia this year and was interested to find out from your video that the one month real estate fee is no longer legal. Can you advise please on the exact date this law came into effect? Many thanks
I moved to Spain from California in 2019, 25,000€ in a bank account per year for a non lucrative visa plus proof of private health insurance . Cost of living in Alicante approx 2k per month nicely living by the coast ! There’s no secret to it !!
Please reconsider the background music, we want to hear you! The music is annoying at best and it will be a problem for anyone with even the slightest hearing impediment.
And the music is unnecessary 😅
Its a really informative video but the background music is really distracting. If you are talking kill the music
Thank you,
Thnxs man
in the video you mentioned sending or shipping additional luggage. what are some of the companies that do shipping?
www.sendmybag.com/en-au/ is a big one
Please do a video on getting a visa as a worker.
Visa €0
Health Insurance €60 a month
Flights €150 Ryanair including bags
Shipping €0
Landing: Hostel €25 per night
Initial housing €2300 (shared between 2)
bang on , you cut your cloth to suit
How much does the course cost, and why don’t you share that on your website?
Fantastic thumbnail 🙃
Great work!
Is your course suitable for someone moving to one of the Canary Islands?
Also, regarding the visas, do you need one if you have an EU passport?
The financial requirement of (IPREM X 4) is that for net income or Gross income? This is something I've been trying to get an answer on for quite some time. Can you respond?
Gross income, though I guess it depends when your taxes come out. The IPREM reflects the amount in your bank account (or hitting your bank account) -- whether you later pay tax on that is irrelevant to the equation.
Hello James. I have been watching your vids for a while and they are very helpful. I have one very big question though. Do I have to speak Spanish fluently to apply for a VISA?
No, there is no language requirement for a visa.
@@spainrevealed Thank you for the fast response
$10, 000 estimated cost -Schumacher international shippers, door to door- So Cal to Granada. Only a few very small pieces of furniture, tools, art work boxes, books, miscellany.
If the spanish goverment requires 36,000 €/year (3,000 €/month) for a couple to grant a non-lucrative visa, then, that is good enough. I am currently living in the city of Valencia with a non-lucrative residence, which is already renewed for the 2nd term for a period of 2 years. Please make a note of this.
Los Kiwis son super tacaños. Me da risas. Un abrazo ( soy autonomo)
I now have a long-term visa, so the issue doesn't affect me. I was just wondering about new arrivals.
Everyting what we pay and we are here for 2 mondt is half what you say we are in costa blanca
That's where I've been looking into retire in a couple of years, between Altea and Gandia with Denia being a big candidate :)
How much would the cost of living in a college town? I can’t imagine the university of Salamanca is too cheap
Great info! 23:00, so can you stay in Spain for up to 182 days without paying any tax in Spain? Thanks.
In theory yes . Though for many visas, in order to renew, you need to stay longer than 183 days per year
@@spainrevealed Thanks. As a EU citizen you must get a residence permit if you stay for more than 90 days in Spain, right? Does that mean that you can have a residence permit in Spain for approx. 90 days without Spain requiring that you pay any tax?
Is the savings or passive income for a non-lucrative visa required half for a single person of what a couple's savins or passive income is? And what about the cost of health insurance for a single person?
It's 400% IPREM for a single person. And 500% IPREM for a couple. So no, not half. Health care -- take what I said in the video for that couple, and halve it (assuming you're the same age).
@@spainrevealed Thank you! I had a feeling it wasn't half but wanted to check.
Thanks god I am a EU citizen and I can bring all my stuff by car.
Is it possible for a Portuguese broke young man to live in Madrid as an actor and singer in a small budget. I won’t need the visa costs but I will need all the other costs most likely. How much do I need to have in terms of money to make a life for myself in Madrid? I hope to be rich and famous and successful but that won’t happen overnight. I am expecting to arrive in Spain broke and make my fortune after arriving. Can it be done? My father will help in any way he can. What do You think
Good luck!
Find a sugar daddy who is willing to support you for favours....
Don't want to burst your bubble but things are getting rough in Madrid. I teach at a small college and my students pay minimum 600 euros for a room in a shared flat with three or four other roommates. Some pay more. After that you have to add up your other living expenses - electricity, food, transport etc ... If you're lucky you'll get a job that pays 1,300 a month before taxes. In fact, most jobs pay less. About 80% of Spaniard live at home until their mid-30's and you can see why. Bring as much $$ as possible. Good luck.
@ I understand. But Portugal is way worse. I am willing to share a flat because I don’t want to be alone most of the time despite the fact I am autistic. And I would be happy to get a job that pays 1300 euros a month by the way. There’s a lot of ways to make money. Your students should know that.
@@korymalone6591I don't know where are you getting that data from but it's not correct at all. The media of Spanish leaving home is 30. That's official data. And been Spanish I don't know anybody that gets paid less than 1.300 before tax working full time. Official data also far away from your statement.
Dont forget: import tax on goods being brought into Spain. IVA at 21 percent. So if you are shipping in 20,000 Euros worth things from your previous house (outside EU), then 4200 Euros, will be demanded at the port.
You get an exemption from import tax if you show that it’s a personal move and they’re personal belongings (within the first 12 months after moving).
@spainrevealed based on the visa paperwork in your hand? i own property in Spain but i am not a resident. The Ports (Santander), have been ruthless since brexit.
Yeah, you have to show that you're moving to Spain to set up life here. Show your padron, for example. And potentially residency papers. It varies on the port, and people often have different experiences. Shipping companies can help with this.
@@spainrevealedthat is good to know…I had been looking for this info.
If you need an address prior to applying to the visa, how does a landing place work?
You can give that place as an address in most cases
I Think you Made The Numbers For a Rich Cpl...No Normal Cpl....I dont Think you will Expend Almost 15 k just To Move to Malaga...Definitely that is Not Acurate Trust me...😂
Surely this couple in Miami know someone who speaks Spanish. 🙂(Yes, I know it needs to be officially translated and notarized etc.)
Can that 30k income be adjusted for retirees with no need for rent or mortgage?
In other words, if a home is purchased outright and therefore, no need for a rent or mortgage budget and, the residents are retired, can that 30k requirement be adjusted down?
Hi 👋 do you have any contacts with Imigration lawyers or Aides to assist with the Visa? Great video 😊 Thank you for sharing 🙏🏼
Hi, yeah I recommend the team over at the firm Bureaucracy. Link here - www.bureaucracy.es/spainrevealed (you’ll get a 10% discount by using this link)
10:18 James, since the 2022 rental law update, only one month’s fianza is permitted. They can and do ask for more, but you can challenge this if you’re willing to risk it. :)
Only one month fianza but article 36 of the governming law states they can ask for up to two months “garantía adicional”. So for all intents and purposes it’s 3 months security deposit maximum (although the terminology is different for the first month and the following two).
What taxes would you pay as a non lucrative visa holder, aside from the VAT consumption taxes? Do they try to tax your income earned abroad, despite being a non lucrative visa holder and ineligible to earn income in Spain?
Assuming you stay for longer than 183 days within a calendar year, you'll become a tax resident. That means you'll be taxed on worldwide income. You won't be double taxed though (thanks to the fact that there are tax treaties). You may end up paying more in tax. Many people find that is offset by the lifestyle benefits and lower cost of living. But I recommend getting a tax lawyer to do a tax simulation for your circumstances pre move.
@ not allowed to work, but required to pay income taxes... you just have to laugh at the absurdity sometimes :)
10:30 13 hundred euros? You meant 13 thousand euros. Carry on.
Also, is there enough time to apply for the golden visa? Since it’s expiring in Jan. 2025?
Debatable. You'd have to buy really quickly, and process the visa fast. We don't know exactly when the visa will disappear but possibly January.
New law will allow Golden visa for non property purchases over 500, 000 euro. Like business investment. Go find out.
Probably a very small market, but it would be interesting to see what the costs etc would be for people that hold an EU passport but may have been living overseas from a young age.
If you have an EU passport you don’t need a visa and thus do not need to prove any assets or income. Costs of the move would be the same. And you need something to live off, but you also need no work permit to get a job, you are allowed to work here by being a EU citizen.
Thanks!
However landlords and agencies always insist on seeing "proof of regular income" , they wont accept savings for a rental contract, and you cant get a job without a NIE/TIE, which you cant get withhout an address and bank account, neither of which you can get without a job, etc , etc. Its an endless cycle of documentation and requirements all of which are inter dependent and none of which you can get without the others !!!!
Thanks. Looks like a Catch 22.
From your numbers it looks like $75k for your first year and probably a little more than 1/2 that afterwards as a minimum if you are not extravagant. No mention of vehicle/transportation costs nor any firm # on taxes
I can guarantee you many spaniards live with less than $75k dollars a year. It is a matter of being slightly more frugal when you get enough experience in Spain.
@ $75K includes visa, flights, apt deposits, etc. all 1st year expenses
Eactly, the budget is divided into two. Only the second part of the video is actual living costs, it's much less than 75k
Down with Usa
Are student and working visas very costly?