Spain FIRE Checklist: 18 Steps to Retire Early
A complete pre-move checklist for financial independence in Spain — finances, visa, tax, housing, and life setup.
18 items · Free download
1 Financial Foundation
- Hit your Spain FIRE number — typically 25× your expected annual Spain expenses
- Passive income streams established (dividends, rental income, consulting retainer, etc.)
- Emergency fund of 12+ months in a liquid, accessible account
- Currency plan in place — understand EUR exposure for USD/GBP earners
- Withdrawal rate tested against Spain's realistic cost of living (not US/UK benchmarks)
2 Visa & Legal
- Chosen your entry visa — Non-Lucrative Visa (NLV) vs. Golden Visa vs. Digital Nomad Visa
- Financial proof ready — NLV requires ~€2,400/mo income proof + €600/mo per dependent
- NIE number process understood (needed for almost everything in Spain)
- Consulted a Spanish immigration lawyer or gestor (do this before applying)
3 Tax Planning
- Beckham Law evaluated — 24% flat tax on Spanish income for 6 years (not always optimal for FIRE retirees)
- Modelo 720 obligation understood — worldwide assets >€50k must be declared
- Spanish wealth tax assessed — applies to assets above €700k (varies by region)
- Home country exit tax plan in place (US citizens: FBAR/FATCA obligations don't stop; UK: statutory residence test)
4 Housing & Location
- Completed a scouting trip of 2–4 weeks in your target city
- Decided on rental-first strategy (strongly recommended for first 1–2 years before buying)
- Chosen your city based on cost, climate, and expat community (use the City Explorer)
5 Life Setup
- Healthcare plan secured — Spanish public system requires legal residency; get private international health insurance first
- Spanish language basics started — aim for A2 before arrival, bureaucracy is almost entirely in Spanish
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→ Compare cities: City Explorer · → Calculate your budget: Cost of Living Calculator · → Understand your visa: Non-Lucrative Visa Guide