Spain crowned best country for Americans to retire to
Spain has long been a popular country for Europeans to retire to due to its great climate, relatively low cost of living, vibrant culture and strong social communities.
Now a new study from Global Citizen Solutions, an investment migration consultancy firm, classes Spain as the top country for US nationals to retire to as well.
The study is based on the firm's Global Intelligence Unit's Retirement Index which looks at factors such as living expenses, healthcare and retirement visa options.
Spain ranked first place on the index, beating the likes of Portugal at number two, Costa Rica at number three, Uruguay at number four and Mexico at number five.
It scored 100 points in their US Retirement Trend report, due to its low cost of living, excellent quality of life, good public and private healthcare systems and visas for being able to move there.
According to the price comparison website Expatistan, the cost of living in United States is 75 percent higher than in Spain.
For example, it states that living in Madrid is 67 percent less than in New York, 49 percent cheaper than San Francisco, 46 percent more inexpensive than Miami and 39 percent cheaper than in Los Angeles.
Spain ranked as the second in terms of its healthcare system, fifth on climate, and sixth in terms of flight distance from the United States.
It also ranked seventh due to its relatively low crime rate, "despite the fact that petty theft can occur in tourist areas like Madrid and Barcelona', the company reported.
The report suggests that Madrid is a popular choice for American retirees, 'known for its culture and history' and praises it for its low cost of living.
It suggests that a single person can live in the capital for around $2000 to $2500 USD per month – the equivalent of €1,765 to €2,207. But it's worth keeping in mind this might be a little low given the current rising costs in Spain.
For example, it says you can rent a one-bedroom apartment in central Madrid for $1,322.50 USD, which is €1,176.33. This is low given the fact that Idealista has the average rental price down in central Madrid as €25.7 /m2. This would be at least €1,542 for even a small apartment of 60m2.
So if you are thinking of retiring here it's worth budgeting a little more than perhaps you've been led to believe.
The index also took into account the visa options that Americans could use to retire to Spain. It states that the 'Non-Lucrative Visa is perfect for those who want to live in Spain without working'.
In order to be eligible for the NLV you need to show you have savings or passive income of €28,800 per year or €36,000 for a couple. This is currently equivalent to $32,571.08 or $40,718.45 per year. You also need to have private health insurance.
The report also says that the Golden Visa is another good option, for those making a real estate investment of more than €500,000, but unfortunately this is no longer an option as the Spanish government decided to cancel it. It officially ended on April 3red 2025.
This means that the NLV is really the only visa option for Americans to retire to Spain.
Many of the reasons it gives for retiring to Spain are reasons that other American readers gave The Local Spain for moving here.
Among the most popular reasons were the getting away from the current political situation, safer and a better quality of life, as well as the lower cost of living.
In fact, the number of Americans living in Spain soared by 10,000 in two years according to official data.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Local Spain
2 days ago
- Local Spain
Even Spaniards: Who exactly would have to pay Spain's 100% property tax?
In late May, Spain's ruling Socialists confirmed their plans to introduce a 100 percent property tax on home buyers from overseas as a means of addressing the country's housing crisis. The measure was initially suggested by Prime Minister Pedro Sánchez in January, but what many believed was just political posturing at the time seems to be closer to reality now that the PSOE government has officially registered the proposal in the Spanish Congress (it will still require parliamentary approval). When it was first announced at the start of the year, nobody knew exactly how this 100 percent tax would work as there was no legal text to go on. Now that the proposal is in writing and available for all to see, we've been able to confirm that the 100 percent would be applied to the taxable base of the property (the value of the property) and is not a 100 percent tax on the existing property tax on second homes (ITP) as many wrongly assumed. The same doubts have arisen when it comes to who exactly would have to pay the tax. Is it just non-EU foreigners who don't reside in Spain? How about third-country nationals who live in another EU country? What about EU nationals who don't live in the EU? Now we know exactly who would have to pay this tax. The ruling Socialists' proposal reads: 'The State Complementary Tax on the Transfer of Real Estate to Non-Residents of the European Union is created.' 'This indirect tax will be levied on the onerous transfer of real estate located in Spanish territory and the creation and transfer of property rights in such assets to individuals and entities not resident in the European Union.' Excerpt from the Socialists' proposal stating which property buyers are subject to the 100 percent tax. Therefore, EU residency is the deciding factor rather than EU citizenship. As an example, a UK national who is a resident in Germany would be able to avoid the proposed 100 percent tax, but a German national who lives in the UK would have to pay it. In this sense, even Spanish nationals who don't live in the EU would have to pay the levy if they wanted to buy a home in their own home country. American and British nationals who live in Spain or any other EU nation would be exempt from paying the 100 percent tax, but if they live in either the US or the UK they would have to cough up double the amount to buy a second home in Spain.
Local Spain
29-05-2025
- Local Spain
Spain's new migration law could block entry for thousands of US students
The application process for American students wanting to study at universities in Spain risks being plunged into 'enormous chaos' due to new requirements, according to warnings from the Spanish university sector. The visa processing system at Spanish consulates in the US has been complicated as a result of modified regulations included in Spain's new Foreigners Law. The change in criteria for documents to be submitted by students from the United States who want to come to Spain for an academic year or exchange trimester, as well as the deadlines for submitting medical reports and health insurance documents, has already led to dozens of applications being frozen or denied, according to various reports in the Spanish press. The Association of American University Programmes in Spain (Apune), in which both US universities and fifty public and private Spanish universities participate, has this week sent a letter to Spain's Ministries of Foreign Affairs, Justice, Education and Inclusion, Social Security and Migration to request "a reasonable moratorium to apply the new requirements" for obtaining a student visa. In statements to Spanish news agency Efe, the association pointed out that the new regulations 'would prevent the exclusion of thousands of future international students as the situation is critical' and 'could lead to a drop of between 30-50 percent in the number of American students next year.' The latest study by Apune showed that each year more than 20,000 visas are processed for American university students in Spain, the economic impact of which generates more than €600 million per year. Spain's new Immigration Law came into force on May 20th and, among many other measures including a r eduction in length of sta y before getting a re sidence permit and changes to job-seeking visas, changed the deadlines for submitting academic reports, medical insurance and proof of accommodation. According to APUNE, the requirements are ambiguous and, in many cases, difficult to comply with as prior payment of enrolment fees is required but many Spanish universities do not charge tuition fees until September. The group also points to different interpretations of the guidelines by different consulates, and warn that the company contracted to manage the visa application process adds further confusion to the situation as it has already rejected confirmed appointments due to lack of documentation. However, a spokesperson for the Immigration Ministry stated that there is no record of visa refusals in the short timeframe since the new requirements came into force: 'The implementation of any regulation, and especially of the scope of the Reloex, generates a multitude of different situations in which the regulations of third countries come into play. For this reason, the Secretary of State for Migration is working on draft instructions for the uniform application of this type of authorisation.' A spokesperson says that in the instructions, 'it will be established that when the deadline for payment and formalisation of the registration, enrolment or equivalent document established by the institution, centre or entity cannot be adjusted to the deadlines of the application procedure, a document accrediting this situation and the commitment to pay the registration or enrolment fees may be provided. This is without prejudice to the competent body subsequently verifying that the applicant has complied with the requirement by means of payment and formalisation of the registration, enrolment or equivalent document.'
Local Spain
27-05-2025
- Local Spain
Spain-US flight links bolstered by new Boston routes
Two new direct flight routes between the United States and Spain have launched over the past days, improving the offering for passengers travelling between the two countries. American low-cost airline JetBlue Airways on Tuesday began its venture into the Spanish market by linking Boston to Madrid, a route which Spain's flagship carrier Iberia already operates. The American airline's intentions are to continue growing in Spain, starting with maintaining year-round operations to Boston Logan International Airport, which for now will operate daily until October 25th. For its part Iberia intends to double its service offering by 2024 with two daily flights to Boston from Madrid, making this route even more regular and hopefully lead to more competitive prices. JetBlue's head Marty St. George is confident that the strong demand for premium leisure activities from the United States to Spain will ensure this route continues into the 2026/2027 season. The decision to open more destinations in Spain in the future, where the next logical route could be Madrid-New York, will depend on the success of its flights from Boston. "If we have sustainable success in Boston, we'll undoubtedly look for other opportunities, and connecting Boston or New York to Barcelona is also an obvious option." Another American airline, Delta Air Lines, has recently beaten JetBlue to it with its new Boston-Barcelona flight, with the route being launched only last Thursday. Delta will connect Barcelona's El Prat and Boston's Logan airports with three weekly flights, therefore competing with Iberia, Level and Vueling, which already fly directly between the two cities. Barcelona is one of Delta's hubs in Europe as the airline links the Catalan capital to New York thanks to two daily flights, as well as Atlanta with ten flights a week. Delta also operates the Madrid-New York JFK and Madrid-Atlanta routes with seven weekly flights respectively, and no signs of either stopping anytime soon. As things stand, direct flights to the US from Spain fly to Boston, New York, Washington DC, Chicago, Miami, Los Angeles, Philadelphia, San Francisco, Orlando, Charlotte, Dallas and Atlanta.
