Retiring to Spain? make some plans in advance.
Moving abroad requires you to figure out your finances and to find a way to cover the expenses of travelling to another country and settling there.
Spain is the ideal destination for your summer vacation, but it could also become the perfect place to retire. If you are a UK resident, you are not the only one to consider retiring to Spain. Spain and other Southern European countries have become popular retirement spots due to the ideal weather and proximity to the sea.
A lot of UK residents who decide to move to Spain end up selling the property they own in the UK to finance the purchase of their new home. There are plenty of affordable properties in Spain and you should be able to afford a nice home not too far from the sea after selling the house or apartment you currently own.
There are a few practical things you need to know about before retiring to Spain. You will have access to health care and will be able to get a spot in a nursing home in Spain if you have been a resident for more than six months. You will more than likely have to pay a monthly fee to stay at a state home, but you should be able to cover these expenses with your retirement fund or by selling the property you purchased in Spain if you end up needing this type of care.
If you are currently receiving a state pension in the UK or an incapacity benefit, you should know that you will receive the same benefits once you move to Spain. You will need to obtain a passport before contacting the International Pension Centre to get your benefits transferred.
You will be able to move to Spain and to travel back and forth to the UK as long as you hold a valid UK passport. You will not need to obtain a visa but you will have to register with your local Oficina de Extranjeros once you move to Spain. You will obtain a residency permit if you can show a UK passport and can prove that you have sufficient funds to support yourself. Obtaining a permit should be easy if you are getting some kind of retirement benefits and have purchased a property in Spain.
Retiring to Spain is the perfect way to live a relaxing lifestyle and to enjoy the great weather. You should find out more about Spain and consider going there on a vacation if you have never visited this country before.
You should also think about meeting with a financial adviser so you can talk about your finances and your retirement. Retiring in Spain is possible but this is a project that requires some planning since you will have to support yourself while living abroad. You should also look into taking some Spanish classes to become fluent in this language!