Retiring in Spain is still possible after Brexit

Something that my Dad often talked about when we were growing up was his desire to sell up when he retired and move permanently to Spain. He has now retired, but Brexit made him a little cautious about making the move. He’s certainly not alone in having concerns about whether moving to Spain is a valid option following the United Kingdom leaving the European Union. But retiring in Spain actually IS still possible.

Living in the sun is something that many Brits dream about, particularly during the colder, wetter months we experience in the UK. Whilst there are a few legalities that need to be sorted out, and a few changes in the rules following on from Brexit, living in Spain is still something that you can achieve once you retire.

Will you need a visa?

If you made the move before 31st December 2020, then you will still maintain all of your existing rights to Spanish residence, work, study, and social security which is great news for existing ex-pats.

However, if you made the move on or after 1st January 2021, or you’re just in the process of thinking about moving to Spain, then one of the most important things you will need in place is the correct Visa.

There are a couple of different options available here, including the Non-Lucrative residence permit in Spain and something known as the Golden Visa in Spain. There are some important differences between the two options, so it’s a good idea to get professional advice to ensure that you get the right paperwork behind you.

What about healthcare?

Here in the UK, we are incredibly fortunate to have free healthcare available to us in the form of the National Health Service (NHS). If you’re moving to Spain from the UK, then it’s important to think about what your healthcare options will be if you need any treatment.

Fortunately, Spain also offers free healthcare, provided that you meet certain criteria. If you retired and receiving a pension from your previous employment in the UK, then you will be entitled to access free healthcare. This is great news for those hoping to spend their retirement in the sun.

Paying taxes

Just like in the UK, you will be required to pay taxes once you make the move to Spain. You will need to pay a Personal Tax Income on any income you receive from anywhere in the world. If you are expecting to receive income from the UK, you should be sure to get a double taxation agreement so that you only pay that tax once.

If you have dreams of retiring to Spain, then don’t let any of your fears over Brexit get in the way. It is still possible to make the move! Just make sure you do your research and have all of the necessary paperwork in place so that your move goes as smoothly as possible and you can achieve your dreams of living out your retirement years in the beautiful Spanish sunshine.

*This is a collaborative post.