Americans Moving to Spain

The numbers

Do you earn enough to qualify?

Income thresholds by visa type. The number the consulate actually checks.

Thresholds are for the primary applicant. Dependents may increase the requirement.

FEIE & US taxes

The FEIE applies in Spain — exclude up to ~$130,000 of earned income from US taxes. Spain's Beckham Law (Régimen de Impatriados) offers a flat 24% tax on Spanish-source income up to €600,000 for the first 6 years — available to new tax residents who haven't been Spanish tax residents in the prior 5 years. This combo can be powerful: FEIE covers the US side, Beckham Law reduces the Spanish side. Without Beckham Law, Spanish progressive rates go up to 47%. You need a tax advisor who understands both systems — ideally before you arrive.

Full FEIE explainer →

Social Security

The US-Spain Totalization Agreement prevents double Social Security taxation. You can receive US Social Security in Spain — direct deposit to a Spanish bank account. Spain generally taxes US Social Security benefits as pension income (progressive rates), though the tax treaty may provide relief depending on your situation. You can earn credits toward Spain's Social Security system while working there, and combine with US credits for eligibility.

Healthcare gap

Medicare stops at the border. Spain's public healthcare system (SNS — Sistema Nacional de Salud) is among the best in Europe and available to legal residents. You register at your local CAP (primary care center) with your residence card. Quality is excellent for primary and emergency care; specialist wait times can be months for non-urgent issues. Private insurance runs €80–€150/mo and gives access to the private network with minimal waits. For the visa application, you'll need private coverage — Sanitas and Adeslas are the main providers.

Full Medicare abroad guide →

Banking & FATCA

Spain is moderately difficult for Americans to bank in. CaixaBank is the most FATCA-compliant and American-friendly Spanish bank. Santander Spain accepts US citizens but the process is slower. BBVA Spain has been inconsistent. You'll need your NIE (foreigner identification number), proof of address, and your residence card. Digital banks like N26 require EU residency. Start with Wise for a EUR IBAN while you wait for the local account. Keep your US bank for dollar needs.

Full FATCA guide →

Your US dollars

1 USD buys about 0.86 EUR, and Spain's cost of living runs 25–38% lower than the US depending on the city. Rent specifically is about 40% cheaper, and utilities cost roughly a third of what you'd pay stateside ($188/mo vs $569/mo). Your $200K in savings buys roughly $270K–$320K worth of American lifestyle. Valencia is the value play — Madrid and Barcelona eat into that advantage fast. If you're earning USD remotely, Spain outside the two big cities is genuinely affordable. Groceries run 30–35% cheaper, and dining out costs roughly half what you'd pay in a comparable US city.

Buying property

Foreign nationals have identical property rights to Spanish citizens — no restrictions whatsoever. Non-resident mortgages typically require 30–40% down with rates of 3–5% fixed. Your FICO score is meaningless; Spanish lenders use their own credit systems. Spain's Golden Visa was officially killed on April 3, 2025 — the government blamed it for housing speculation, and they weren't wrong. No property-based residency path remains. Alternatives: the Non-Lucrative Visa (prove passive income, no working allowed) or Digital Nomad Visa. Madrid apartments run about €4,800/sqm in the center. Valencia is dramatically cheaper. The buying process involves a notario (notary public) who handles the deed — think of them as the referee nobody asked for but everyone needs.