The Reasons Why So Many Americans are Moving to Spain
A cost-effective lifestyle without any compromises is one of the top reasons why Americans move to the gorgeous cities of Spain. If you have been considering a bold move in life to explore and challenge yourself with new opportunities, or just want your family to experience a new lifestyle, then Spain will not disappoint.
Why Are US Expats Moving to Spain?
Spain is not only a beautiful Mediterranean country with dazzling beaches, mountains, and a rich, colorful culture, but also offers some great benefits to US expats.
Here are a few reasons why you or your family should move to Spain;
Low-Cost of Living
In comparison to the high cost of living in the US, Spain offers low-cost living without making any compromises. Rentals around the country are approximately 57% cheaper than in the US, while groceries will cost you about 47% less. If you love eating out, the fresh ingredients and relatively cheaper restaurants will satisfy your hunger.
Though dental and prescription are not usually included in healthcare plans, they are far cheaper in Spain when compared to the US. Further, private healthcare plans start from about $40 a month per person and usually top at $150.
With gorgeous beaches and mountains, the weather around Spain always remains pleasant. The northern parts receive some snow and rain, while the southern parts have plenty of sunny, warm days. Winter throughout the country remains at pleasant temperatures and is not harsh.
Great for Families
Spain offers a fantastic quality of living for the whole family. In addition to a good education system, the country also offers parks, and beaches, and has many historical sites that will excite both young and old. It also has a good public transport system of buses and trains at affordable rates.
Spain boasts one of the lowest crime rates among European countries and a low gun ownership rate. While petty crimes are common, Spain overall is a safe space for expats and ideal for retirees too.
Types of Visas for Americans
Spain offers different types of visas that US citizens can opt for. Each visa comes with its own set of requirements. Student visas, work visas, and job search visas are some of the available options.
Of the different obtainable visas, the Golden Visa Spain (also known as the Investor visa) and the Non-Lucrative Visa Spain 2023 (also known as the retirement visa) are popular choices for expats. These visas also make it easy to become residents of the country and open the pathway to Spanish citizenship once you meet the required criteria.
Spanish Golden Visa 2023
This visa requires you to have a significant investment in Spain and includes a work visa. Holders of this visa can bring their dependent family immediately.
Those that wish to apply for the Spanish Golden Visa 2023 will have to meet one of the following eligibility criteria:
- An investment of €500,000 in a property, is one of the easiest and most popular choices.
- Holding €1 million in company shares or bank deposits.
- Holding €2 million in treasury bonds.
- Alternatively, high investment in new businesses which support local employment, contribute to technological or scientific innovations, or help have a positive socio-economic impact.
The Golden Visa is valid for 1 year and comes with a 2-year residence permit which you must collect by visiting Spain. As long as you meet the eligibility criteria, you can indefinitely renew this visa.
Non-lucrative Visa Spain 2023
This visa requires you to have financial funds to support yourself while you stay in Spain. Unlike the Golden Visa, you cannot work if you hold a non-lucrative visa. This visa also allows you to bring your dependent family as long as they can be financially supported by you.
You will have to have a minimum of $30,000/year in financial funds to be accepted for this visa.
The non-lucrative visa has a 1-year validity and can be renewed every two years as long as you spend at least six months (183 days) in the country.