Spain is a highly sought-after destination for both travelers and residents. With its vibrant capital city, Madrid, and the bustling port city of Barcelona, Spain attracts millions of visitors each year. The country’s rich cultural heritage is reflected in its lively music and dance traditions, such as flamenco, and its world-renowned cuisine, which features a variety of seafood from its surrounding waters. Spain’s architecture, from historic buildings to modern designs, has inspired some of the world’s greatest artists.

Geographically diverse, Spain offers everything from citrus orchards and snow-capped mountains to sun-drenched beaches and rugged hills. The climate is predominantly temperate, characterized by hot summers and mild winters. Spain’s strategic location, bordered by Portugal, France, and Gibraltar, and its Mediterranean and Atlantic coasts, provides residents and travelers with easy access to Europe, Latin America, and North Africa.

Legal and Social Framework

Spain operates under a civil law legal system, with some regional variations, providing a stable and predictable legal environment. The country is a leading example in human rights, including the rights of the LGBTQIA+ community, with same-sex unions recognized and respected nationwide. Spain boasts a high life expectancy rate of 82 years, reflecting its overall quality of life.

Economic Landscape

Despite the severe impact of the 2008 global financial crisis, Spain has made a remarkable recovery. It now enjoys consistent GDP growth that exceeds the EU average. As the fourth-largest economy in the Eurozone, Spain ranks 30th out of 190 countries on the 2020 Ease of Doing Business Index. Key industries include textiles, apparel, and footwear, with Spain being a global leader in fashion. The Spanish economy continues to grow dynamically and robustly.

Tax Benefits for Residents

Residents by investment do not automatically become tax residents unless they spend more than 183 days per year in Spain. Non-residents are taxed only on Spanish-sourced income, and tax treaties may lower rates on dividends, interest, royalties, and capital gains. Additionally, the “Beckham Rule” offers a flat tax rate for Spanish tax residents who relocate from abroad, applicable for their first six years of effective residence.

Spain’s combination of rich cultural heritage, diverse landscapes, strong legal protections, and favorable economic conditions makes it an attractive destination for those seeking a new home or investment opportunities.