So you’ve made the move to Valencia—or you’re planning to. Now comes the fun part: exploring everything this beautiful city and region have to offer. Sure, you’ve heard of paella and the beach, but Valencia has so many hidden gems and local traditions that make life here truly special.

Here are some must-do experiences for newcomers that will help you fall in love with your new home.

Explore Albufera Natural Park

Just 20 minutes from the city, Albufera is a serene lake surrounded by rice fields—the birthplace of paella. Take a boat ride at sunset, watch the birds, and finish with a traditional paella in the village of El Palmar. This is Valencia at its most authentic.

Enjoy Valencia’s Beaches Like a Local

Everyone knows about Malvarrosa Beach, but if you want something quieter, try Playa de la Patacona or head to El Saler, south of the city, for natural sand dunes and crystal-clear water.

Embrace Valencia’s Café Culture

Valencians love their coffee breaks. Find a sunny terrace, order a café con leche, and watch the world go by. Try horchata too—a sweet, milky drink made from tiger nuts, served ice cold with fartons (pastry).

Shop Like a Local at Mercado Central

This grand market is one of the largest in Europe and a feast for the senses—fresh produce, seafood, and local delicacies. Go early in the morning for the best experience.(pastry).

Join a Language Exchange

Want to improve your Spanish and make friends? Valencia has dozens of language exchange meetups where locals and expats come together for conversation. Great for breaking out of the expat bubble.

Plan Ahead for a Smooth Transition

Valencia is full of amazing experiences—but while you’re discovering its culture, don’t forget about your financial future here in Spain. Things like tax planning, pensions, and investments work differently, and the right structure can make a big difference.

As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you plan smart so you can enjoy life without financial stress.

If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.

Setting the stage: Brussels wants homework in October
While the UK plays calendar Enie Meenie minie mo with Spring/Autumn Budgets (and the occasional “surprise!” emergency one), the EU prefers punctuality. Every October, member states hand in their budgets like model students. In 2024, everyone also had to submit a four-year plan to steer national debt toward (or below) 60% of GDP—the EU’s collective happy place.

Spain, after a domestically bumpy 2024 (Reuters politely called the 2024 draft “discontinued,” which is the fiscal equivalent of “we meant to do that”), pivoted to 2025—and got Brussels’ nod in late November for a longer seven-year clean-up plan under the rebooted EU fiscal rules. Translation: fewer vibes, more spreadsheets.

What actually changed (a.k.a. the “please don’t shoot the messenger” bit)

Goodbye, tax holidays

• Basic foods slid back to their usual 4% VAT, olive oil included (collective sigh across Iberia).
• Electricity returned to 21% VAT.
• Fuel duty nudged up.

Net result: monthly bills did the opposite of “Mediterranean chill.”

Nine new tax rises for 2025
Congress kicked off the 2025 tax year with nine approved increases, targeting roughly €4.5bn/year in extra revenue. Among the eyebrow-raisers:
1. “Bank Tax”: A progressive levy on net interest margin + commissions earned in Spain (roughly 1% to 7%).
2. Savings Income Tax: For incomes over €300,000, the top rate rises from 28% to 30%.

*Yes, this can touch insurance policy withdrawals and other taxable gains—mainly relevant for the well-heeled.

Business translation: banks are the piñata; high-net-worth savers bring an extra 2% candle to the tax cake.

• PM Pedro Sánchez framed it as an “unprecedented” step amidst a housing emergency, warning against a society split into “rich landlords vs. poor tenants.”
• He cited 27,000 homes bought by non-EU residents in 2023 “not to live in, but to make money.”
• The Property Registry estimated foreigners (EU + non-EU) were ~15% of sales in 2023 (~87k of 583k total).

Important fine print: This is about plans and proposals being discussed, not a done deal. If you’re a non-EU buyer, keep your lawyer on speed-dial and your pulse steady.

Wealth & Solidarity: the sequel nobody asked for (but everyone pays attention to)

Spain has long had Wealth Tax for residents with net wealth ≥ €700,000, but regions can—and did—play with allowances. Madrid and Andalucía famously went full 100% relief.

Cue the central government’s 2022 plot twist: a “temporary” Solidarity Tax layered on top, using Wealth Tax rules as the base. Exemptions broadly still apply (primary home up to €300,000, business assets when it’s your main activity, and qualifying shareholdings >5%—or >20% family-owned). After exemptions, Solidarity hits at:

• €3m – €5,347,998: 1.7%
• €5,347,998 – €10,695,996: 2.1%
• Above €10,695,996.06: 3.5%

Also remember: non-residents can face Wealth Tax on Spanish-sited assets. Double Tax Treaties may soften the edges—but bring a professional to the knife fight.

• Madrid: 99% relief for Groups I & II (close family) for years now, plus 25% relief since 2023 for siblings, uncles/aunts, nephews/nieces.
• Andalucía (since 2022): €1m allowance + 99% relief for spouses/ascendants/descendants (inheritances; gifts differ). Group III allowance €10,000, top rate 26%.
• Balearic Islands (from 18 Jul 2023): 100% reduction for Groups I & II (residents only). Group III? -50% for siblings/uncles/aunts/nephews/nieces; -25% for in-laws.
• Canary Islands (from 6 Sep 2023): 99.9% reduction for Groups I–III, and for gifts to I–II.
• Valencia (draft approved 5 Sep 2023): 99% reduction for Groups I & II, mirroring Murcia/Andalucía vibes.

Estate-planning translation: check your postcode—it matters more than your zodiac sign.

Who should care (and why)

• Banks: Expect margin/comms to feel… taxed. (On the bright side, you’re still not a fintech.)
• High-net-worth investors: That 30% top savings rate taps your shoulder at €300k+ incomes. Tax deferral may become your new best friend.
• Non-EU property buyers: Keep watching the “up to 100%” tax proposal. This is the policy equivalent of a weather warning: it may drift, split, or hit land.
• Heirs in certain regions: Inheritance tax often now says, “I’m off to Ibiza.” Confirm local rules, then celebrate responsibly.

Practical checklist (so you can look clever on Monday)

1. If you bank or broker in Spain: Model the 1–7% bank tax impact on your P&L and pricing.
2. If your savings income can top €300k: Re-evaluate wrappers, timing of withdrawals, and asset location.
3. Thinking of buying in Spain as a non-EU resident: Pause, get advice, and track the 100% property tax proposal closely.
4. Inheritance planning: Re-run scenarios by region—reliefs can be massive, but rules differ.
5. Budgeting households: Expect higher baseline costs from VAT/fuel/electricity resets; shop around, switch tariffs, and stop treating olive oil like cologne.

Conclusion

Spain’s 2025 plan blends EU-approved fiscal discipline with domestic social aims—and a dash of headline-grabbing housing policy.

For investors and families alike, the theme is simple: location matters, timing matters, and reading the footnotes definitely matters.

One of the first things you’ll need when moving to Spain is a local bank account. Whether you’re paying rent, utilities, or just want easy access to cash, having a Spanish account makes life much simpler. Here’s what you need to know.

1. Types of Bank Accounts in Spain

• Resident Accounts: For those officially registered as residents.
• Non-Resident Accounts: For people living abroad or not yet registered. Often with higher fees.

Tip: Once you have your padrón and residency, switch to a resident account for better conditions.

2. Documents You’ll Need

• Passport or national ID
• NIE (Foreigner Identification Number)
• Proof of address (rental contract, utility bill)
• Proof of income (employment contract or pension statement)

Some banks also ask for a non-resident certificate, which can be obtained from the police station or arranged by the bank.

3. Which Bank Should You Choose?
Spain has a mix of traditional banks (Santander, BBVA, CaixaBank) and digital options (Wise, N26).
Consider:

• Language support (does the bank offer English service?)
• Fees (some charge monthly maintenance)
• Online banking and app usability

4. Common Pitfalls

• Forgetting to update your status from non-resident to resident account.
• Unexpected fees—always ask for a fee schedule in writing.
• Assuming all banks offer English-speaking staff (many don’t).

If you’re moving to Valencia, two words will come up quickly: padrón and NIE.

Both are essential for everyday life, but the process can feel overwhelming. Here’s a simple guide.

1. What is the Padrón?
The padrón municipal is the local census—registering your address with the town hall (ayuntamiento). It’s needed for:

• Health care
• School enrollment
• Resident parking permits
• Tax purposes

2. How to Register for the Padrón in Valencia
You’ll need:

• Passport or national ID
• NIE (if you have it)
• Rental contract or property deed
• Completed application form

Book an appointment (cita previa) on the Valencia City Hall website or by phone. Registration is usually free.

3. What is the NIE?
The Número de Identificación de Extranjero is your foreigner ID number. You’ll need it for almost everything: buying property, opening a bank account, paying taxes.

4. How to Get an NIE

• Apply at the foreigners’ office (Oficina de Extranjeros) or at a Spanish consulate abroad.
• Bring passport, completed EX-15 form, proof of why you need the NIE (e.g., work contract), and pay the fee (around €10).

Appointments must be booked in advance—and they fill up fast.

As a financial planner with The Spectrum IFA Group here in Valencia, I help expats like you plan for a stress-free life in Spain.

If you’d like a free, no-obligation chat about setting up your finances for life in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.

Join the Webinar

Moving to Malaga

23rd September 5pm UK | 18.00 CET

Dreaming of a new life in the sun?

Whether you’re just starting to explore or actively planning your move, join The Spectrum IFA Group and the expert partners for a free, live webinar designed to guide you every step of the way.

• Property insights from BluCee Real Estate
• Visa & residency guidance from Help at Hand Spain
• Currency exchange tips from Lumon
• The financial and tax planning for your move – Jett Parker-Holland, Spectrum IFA Malaga office
• How to choose the right health insurance with Sam Campbell Insurance

Moving to Valencia is exciting—sunshine, paella, and a laid-back Mediterranean lifestyle. But let’s be honest: settling into a new culture isn’t always smooth sailing. Spanish life comes with its quirks, and Valencia has plenty of them.

Here are the 10 biggest cultural adjustments expats face—and tips on how to embrace them like a local.

1. Spanish Time Culture
In Spain, time runs differently. Lunch at 2 PM? Dinner at 9 PM? Yes, that’s normal. Shops may close for siesta in the afternoon, and nightlife doesn’t start until late.
How to handle it: Shift your schedule gradually. Enjoy the slower pace—it’s part of the charm.

2. The Famous Siesta
While not as strict as it once was, many businesses still close from 2 PM to 5 PM. It’s a shock for newcomers expecting 24/7 convenience.
Tip: Use this time like locals do—relax, have a long lunch, or run errands in the morning.

3. Bureaucracy and Paperwork
Spain’s paperwork reputation is well-earned. From your NIE to residency, it’s not quick—and sometimes requires multiple appointments.
Solution: Book appointments online early, make copies of everything, and consider hiring a gestor (administrative helper).

4. Language Barriers
While English is spoken in tourist areas, daily life often requires Spanish—and sometimes Valencian.
Tip: Learn basic phrases. Even if you’re not fluent, locals appreciate the effort.

5. Late Nights
Valencianos are night owls. A family dinner at 10 PM or kids in the park at midnight during summer is completely normal.
Adjustment: Go with the flow. You don’t have to match every habit, but embrace the social energy.

6. Meal Culture
Forget grabbing a quick sandwich at your desk. Lunch is a big deal—long, social, and often the main meal of the day.
Tip: Try the menu del día for an affordable taste of Spanish dining culture.

7. Making Spanish Friends vs Staying in Expat Circles
Expats often start by meeting other expats—it’s easy and comfortable. But making Spanish friends takes time.
How to succeed: Join local clubs, language exchanges, or community activities. Valencians are warm once you break the ice.

8. Public Holidays & Fiestas
Spain loves its fiestas, and Valencia takes it to the next level with Las Fallas in March—fireworks, parades, and street parties. Expect shops to close and the city to come alive.
Tip: Embrace it. These traditions are part of why you moved here.

9. Different Work Culture
Work-life balance matters here. Expect longer lunch breaks, fewer meetings, and a slower decision-making process compared to Northern Europe or the US.
Adjustment: Be patient. Things get done—just not always on your timeline.

10. Sunday Shutdown
On Sundays, Valencia rests. Most shops close, and life slows down.
Tip: Plan ahead for groceries and use the day for family, friends, or exploring nature.

If you’d like a free, no-obligation chat about setting up your finances in Spain, feel free to get in touch. It’s all about making sure you can enjoy everything Valencia has to offer—without financial stress.

Richard and Anne’s Move to Spain:

A Retirement Dream with a Hidden Cost

Scenario 1: Leaving the Money in the Bank

Each year, Richard earned 5% interest. However, Spain taxed those annual gains at 26%, meaning he was only compounding on what was left after tax.

(Note: While 5% is well above typical long-term interest rates, this figure is used to highlight the negative impact of tax on compounding.)

Effective annual growth: Just 3.7% (after tax)
Value after 20 years: €202,269
What it cost him: Thousands in lost growth potential

What looked like a safe, straightforward approach turned out to be far less efficient than it could have been.

Scenario 2: Using a Spanish Tax-Compliant Bond

A friend introduced Richard to a financial adviser, who explained the numerous benefits of Spanish tax-compliant bonds — fully legal investment vehicles often underused by expats. These structures allow investments to grow tax-free until funds are withdrawn.

Richard invested the same €100,000 into a compliant bond, again earning 5% annually. But unlike the bank account, no tax was deducted each year, allowing the full amount to compound uninterrupted.

After 20 years:

Bond value: €265,330
Tax due on gain (€165,330): €42,986
Net amount after tax: €222,344 — €20,075 more than the bank account

Compound Growth Comparison (No Withdrawals)
The graph shows how the tax-compliant bond (orange dashed line) outperforms the bank account (solid line) over time, thanks to tax deferral. Even after paying tax at the end, the bond delivers a much higher return.

Let’s Talk

I help expats across the Valencia region make their money work smarter within Spanish tax rules — always with a view to your entire financial picture, including what happens after you’re gone.

From Confusion to Clarity:

A US Family’s Journey to Financial Security in Spain.

A New Life, Unexpected Challenges

Meet the Johnsons—David, Sarah, and their two children. Five years ago, they moved from the United States to Valencia, seeking a slower pace of life and the Mediterranean lifestyle. They assumed managing their finances abroad would be straightforward. With healthy savings and US-based pensions, what could go wrong?

Quite a bit, as it turned out.

They quickly discovered that managing finances abroad wasn’t just about currency exchange or opening a local bank account. As US citizens, they still had to comply with complex IRS reporting rules—rules they didn’t fully understand. After several failed attempts to find the right financial adviser, they realised they needed expert help.

1. Clarity and Confidence
They now understand exactly how their investments work in both countries. Their monthly income is reliable, their savings are structured efficiently, and currency worries are gone.

2. IRS Compliance Without the Stress
Tax return season used to bring anxiety. Now, with Matt’s support, they’re on top of all IRS requirements. FBAR, Form 8938, and FATCA are no longer mysteries—they’re just part of an organised financial routine.

3. A Future They Can Enjoy
With their finances in order, the Johnsons are enjoying the life they envisioned—traveling, spending time with family, and making the most of their time in Spain without the cloud of financial uncertainty.

Conclusion: Why Expert Financial Advice Matters for US Expats

The Johnsons’ story is one of many. Managing US-based assets, navigating foreign tax laws, and ensuring compliance with IRS rules can be overwhelming for American expats.

That’s where Matt Green and The Spectrum IFA Group come in. Their expertise and network of professional contacts bridge the gap between US and Spanish financial systems, giving expats the confidence to manage their wealth effectively, stay compliant, and plan for the future.

From investment strategy to tax reporting and estate planning, Matt’s holistic approach ensures that you can enjoy your life abroad—without worrying about what’s happening back home.

New Country, New Challenges

Meet John, a British expatriate who moved to sunny Valencia five years ago to enjoy a relaxed retirement on the Spanish coast. While his new life brought exciting experiences and opportunities, John soon realised that managing finances in a foreign country was more complex than he had anticipated.

Back in the UK, John had a firm grasp of his financial situation. But once in Spain, the rules changed – international taxes, currency exchange, and estate planning added unexpected layers of complication. That’s when John understood the value of having local, professional financial guidance.

Conclusion: The Power of Professional Advice
John’s story shows the true value of working with a financial adviser—especially as an expat. Matt Green didn’t just help John manage his money; he gave him confidence, clarity, and security.

What sets Matt apart is his holistic approach. He combines deep expertise in international finance and tax with access to a network of specialists when needed, ensuring that every angle of your financial life is covered.

If you’re living in Valencia—or anywhere in Spain—and want to secure a reliable income while protecting your family’s future, partnering with an expert like Matt can make all the difference.