Financial Services

First you need an NIE number. There's plenty of information on this forum and other websites.

If you're thinking of buying a property in the future, browse the forum. If you want all the information in one place, go along to your local bookshop or library - there are plenty of books on the subject.

Good post above.

Although it also depends on how long you are going to stay in Spain each year. 

 If your trip (s) amounts to 6 months or less you will be classed as Non Resident . If over 6 months you will have to apply for Residencia and be Resident in Spain. 

Each of these have different Tax implications but are not a problem if you use a Fiscal Representative solicitor, as they can advise and sort all this out for you for a reasonable annual fee - This takes the worry away and makes sure you are up to date with any tax and anything else.

A good English speaking Solicitor/Abagado will also be able to give you advice on everything you will need to know to stay in Spain.

When we bought our property, as Non Residents, the solicitor we used (from recommendations on a forum like this) was invaluable as we were able to email them and ask what we needed to know and do. 

Then when we had done everything, just to be sure, the last question we asked  the Abagado was , 'have we missed anything, is there anything else we need to know' and then we felt confident that all the important issues were covered so we could enjoy our time in Spain.

Hope this helps.

Jan

Thanks Jan

Thanks, Jim

Jan.

Do the benefits of being resident fare better than non resident?

I am borderline 6months p.a 

Steve

Depends ...if you are borderline I would say stay Non Resident as you will only pay a nominal tax on your Spanish assets. If you become Resident you have to legally declare all assets in UK as well as Spain but there are rules to prevent double taxation  (you would need to ask your solicitor to explain this properly)

Those who become resident do so for certain advantages like healthcare especially for the over pension age, as they will not be necessarily going back to UK that often.

However Non Residents can (at the moment )still use the EHIC(European Health Insurance card) free online in the UK from the government website to get emergency treatment from doctors and hospitals and also if over pension age they may be able to get a temporary SIP card to use at their local health centre (Salud) to have access to doctors.

I am non - resident and come to my holiday home one month at a time (usually 3 times a year this never exceeding the 6 months rule) and always carry the EHIC card and have annual travel/health insurance for around £50, bought using 'confused.com or other compare sites to get the best price and that covers me for 31 days at a time each visit.

It all depends what is best for you.

Jan

All that comes to my mind of any significance is income tax.

If you're retired and with both DWP and private pension, then I'd say you'd probably pay more tax here.

If however your private pension is an annuity you paid for yourself, then you only declare a proportion of this for tax.

And if you were in what's classed as government employment, then that can only taxed in the UK, so you get the benefit of tax allowances at both ends, although the UK amount is taken into account in determining the rate at which any tax is calculated here.

It's very much dependent on personal circumstances, so there isn't a simple yes or no answer.

Brexit of course could become of significance, but it's an unknown at the moment as to whether is would be better to be officially resident here before the break-up happens.