Alex Trelinski
AMERICA’S Forbes magazine says that US citizens should be cautious about retiring to Spain- citing high taxes and bureaucracy as negatives.
The combination of quality of life, beaches, sunshine, culture, and food are reasons that many people choose Spain to enjoy their golden years along with France and Portugal.
In fact the online portal Expat Insider rated Spain as the best country to live in Europe with a fourth place worldwide ranking.
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Forbes US though recently published an article looking at the main pros and cons for American retirees if they are looking at a new life in Spain.
It points out that ‘although in Spain you can live with much less money, the income requirement to obtain residency is relatively high- at least €2,400’.
Forbes also highlights bureaucracy as a negative saying it is ‘much more onerous than in North America’.
“You will be surprised by the amount of paperwork, and the time it takes to get things done to achieve your goals here,” it added.
It emphasises the importance of learning Spanish if retirees do not live in tourist areas, and getting used to ‘the local meal times, which are very different from those in the United States’.
The last negative is taxes where it points out that ‘the tax burden here is approximately 9% higher than the OECD average’.
Forbes however makes the point that countries like Germany, Greece, France and Italy have higher general tax burdens.
In contrast, the reasons for Americans picking Spain to retire include ‘the sunny climate and pleasant temperatures of the of the Mediterranean coast and the south of the country’
The magazine states that the weather encourages retirees to lead ‘an active and outdoor lifestyle’.
It proclaims that US retirees comment on getting better health ‘without even trying’ due to the combination of daily walks and the Mediterranean diet,
Forbes also highlights the health care system which they call ‘one of the best in the world, with a system that is easily accessible and open to all’.
It adds that services are ‘extremely affordable’, and that the presence of British pensioners means that ‘English is commonly spoken in tourist areas’.
