Financial Guide

Guiding you towards the right way to handle your finances in Spain

If moving to Spain was just a case of finding a home, buying it and living happily ever after, the world would be a simpler place, but of course there’s more to it than that. There are plenty of issues that need to be taken into consideration, and although there will undoubtedly be times when you’re more than a little confused, we can point you in the right direction from the start.


Finding a good, reliable and locally-based financial advisor is a great idea, especially if you’re in the dark about various issues. Every newcomer is different and will have different needs, of course, but most or all of them will have to think about various matters at some point, including:


  • Paying income tax
  • Hiring an accountant
  • Social security arrangements
  • Pension payments
  • Making investments
  • Obtaining insurance
  • Opening bank accounts


While the Spanish financial world isn’t necessarily any more or less complicated than the British version, it is of course new to you and will take some understanding. Opening a bank account in Spain is a good idea because it will make everyday life more organised and manageable, but it’s not a legal requirement if you don’t want to do so.

Insurance cover for the things that matter most

You’ll need to take some time to think about the regular payments that you will have to make when living in Spain. Things like life insurance and health insurance are advisable but not mandatory, while of course car insurance will be a must if you have a vehicle. Healthcare is free in Spain, and will also be free to foreigners if you qualify, but you must check this first. Dental care isn’t free but insurance schemes are available.


If you become a Spanish resident, you will need to declare all of your income to the authorities, not just the income you earn in Spain. Those people who head to Spain for their retirement years will need to inform the UK government that you’re moving abroad. The move won’t have any effect on the amount of pension you receive on a monthly basis.


One of the most important things to remember is that you need to change your UK driving licence for a Spanish one if you plan to become a resident. Similarly, if you plan to bring your car from the UK for permanent use the vehicle will need to be registered with the Spanish authorities. Many local people, and a number of ex-pats as well, use the services of a Gestor Administrativo to handle bureaucratic matters on their behalf. Look for a ‘GA’ kite mark when you need one.


We at Simply Costa Developments understand how seemingly complex the details of a move to Spain can be, but we’re on hand to guide you through the various issues. A wonderful new chapter in your life may be about to unfold, and we can make sure the details don’t get in the way of the delight. Call +34 682 66 22 89 to find out more.

Words from our customers

  • Thank you both for your efforts and we shall certainly pass on your name to anyone we know who wishes to sell in the future.  My best regards

    Margaret Evans

  • A huge THANK YOU to you and Neil for everything out have done for me, you have been BRILLIANT.  Wishing you both all the joys of Christmas and may 2018 bring you Health, Wealth and Happiness.

    Love Pat xx

  • Thank you so much for all your help in getting this completed so efficiently. Best regards


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