Retiring to Spain

How can you retire to Spain?

If you're planning to spend more than 90 days in every 180 in Spain you'll need to have a visa or Spanish residency. There aren't any visas specifically aimed at retirees, but there are a few options available to you, and the right one for you will depend on your circumstances. Find out more about the options available to you:

• Non-Lucrative Visa
• Residency

Accessing healthcare as a retiree in Spain

British people in receipt of a UK State Pension are entitled to the same level of state healthcare as a Spaniard under the national insurance scheme. Pensioners should start the process before leaving the UK, by applying for an S1 form from the International Pension Centre.

Once in Spain, register your S1 at your local Instituto Nacional de la Seguridad Social (INSS) office to receive an accreditation letter, which will enable you to register with a doctor at your local medical centre. To do this, you’ll need your passport, NIE and certificates of local and national residency. You will of course need to prove you are in Spain on a visa– for most retirees this will be the Non-Lucrative Visa (for non-working residents).

In due course you will receive a health card (tarjeta sanitaria), which you present when you use the health service. It’s a similar process for recipients of long-term benefits in the UK - just be sure to check with the relevant UK office whether your healthcare entitlements are transferrable to Spain with an S1.

Something to note, after Brexit: a UK pensioner in Spain cannot return to the UK and receive NHS treatment for free, as used to be the case. Also, most pensioners in Spain (whether Spanish or expats) have some provision for private healthcare, as not all treatments are free.

Your pensions in Spain

Retirees living in Spain who are in receipt of a UK State Pension can opt to have their monthly payments paid into their bank or building society account in the UK or their bank account in Spain. For the second option, you’ll need the international bank account number (IBAN) and bank identification code (BIC) numbers for your Spanish account.  

But remember, having your pension paid directly into your Spanish euro account means you will have no control over the exchange rate used for the transfer. Many expats prefer to have their pension paid into their UK account in Sterling, and then use a currency transfer specialist to send euros to their Spanish account. Exchange rates offered by currency specialists are better than those you would receive if your pension was sent direct to Spain through a UK bank, as would be the case if the Government sent it direct for you.

Currency specialists also allow you to fix an exchange rate for future transfers. As well as your State Pension, you may have one or more personal or workplace pension plans in place. If this applies to you, it is highly advisable to talk through these with a financial advisor before leaving the UK.

They will look at your various pension funds and investments as a whole and offer various tax efficient options for structuring all your assets and funds.