Over 46 million people currently live in Spain, but this number is declining. In the latter half of the 20th century, Spain was experiencing a population boom, going from 28 million in 1950 to 47 million in 2011. The population has been falling since then due to economic and labor issues.

Though Spain can be a tough place to work, it’s a great place to retire. Retiring to Spain will give you a whole list of new places to explore, people to meet, and cultures to experience.

There are a few things you’ll need to know before you move to Spain, though, and we’ll talk about them in this article.

1. Spanish

How many shows and movies have we seen where an American visits a foreign nature and meets someone who speaks English? There’s some truth to this, but there’s also important context at play.

You will find a few English speakers in some of the ports and larger cities because they’re popular tourist destinations. People there encounter Americans often and have picked up some English from them. The rest of the country only speaks Spanish.

We should also note that European Spanish is very different from Latin American Spanish because Latin American Spanish draws from the Aztec language of Nahuatl. 

2. Healthcare Isn’t Always Free

Spain is one of many European countries where citizens get free healthcare. The problem is that this only applies to natural-born systems and immigrants who work in Spain.

If you’re retiring to Spain, you will fit into neither of these categories, so you won’t qualify for free healthcare. The good news is that you can still get access to Spain’s healthcare system if you agree to pay a monthly fee.

For those wondering if it’s worth the money, the answer is a resounding ‘Yes.’ Spain has the 7th best healthcare in the world. The US ranks 37th.

3. Spanish Taxes and Prices

If you’re looking for a place with a simple tax system, don’t go to Spain. Their tax system is quite complex, and you might need an accountant to understand it. 

Despite the confusing tax system, Spain is, on the whole, far more affordable to live in compared to most countries. Much like the US, they have sales taxes and property taxes, and a progressive tax system, much like the US.

They also have a wealth tax on anyone with assets worth more than about $800,000. This works out to 700,000 in Euros. This tax includes not just money made in Spain, but worldwide.

If you’re among those who would be subject to a wealth tax, you might as well put the money to good use. You can find some picturesque villas at https://choosemarbella.com/villas-for-sale-in-marbella/.

What to Know Before Retiring to Spain

When retiring to Spain, there are a few things to keep in mind. We’ve talked about them in this article, but they’re more complex than we had space to talk about. We encourage you to do more research on your own if you’re interested in the more intricate details.

If you want more information and advice on real estate, explore our site.