Continuing with our previous article, detailed below you’ll find the best tips for moving to Majorca. If you are planning to live in this beautiful island, you can’t miss this post!
Tips for living in Majorca
In our previous post we talked about the importance of getting your NIE number; finding a home in Majorca; opening your bank account; seeking legal advice in Majorca & getting insurance once you´ve obtained your property… But there are still a few other things you should have in mind, keep on reading!
Taxes in Majorca
You should know that the Tax Year in Spain runs from January 1 to December 31 & that if you spend more than 183 days a year on Majorca –it doesn´t have to be consecutive- you´ll be considered a resident for Spanish Tax reasons.
In addition to wealth, income & other national taxes, there are also municipal taxes & rubbish tax. We advise you to seek help from a professional financial adviser. Because the truth is that taxation in this beautiful island is a kind of difficult matter.
Protecting your investments in Majorca
A financial advisor will ensure you optimum tax efficiency & also help you in matters of investment funds, mortgages and pensions, as well as implementing a financial strategy that best suits your income & investment levels.
Whether you are receiving regular income from outside the euro-zone or making a single payment, the amount of money at your disposal will vary depending of the exchange rate. Don´t forget to take this into account when buying a home on the island.
Health Facilities in Majorca
You should know that Majorca counts with excellent health facilities; both private and public, including hospitals, clinics, medical specialists, dentists, general practitioners, nursing and maternity services.
Depending on your particular case, you could have access to the Spanish State Healthy System; on the other hand, if you have health insurance in your home country, it can be transferable. However, it´s worth hiring a specific policy inside the Spanish Territory, as it comes out more profitable.
Education in Majorca
Majorca has a variety of international and local institutes & collages on the island. Don´t forget to take into account the languages of the schools or institutions, since a large part of the institutes & schools impart their classes in Catalan.
We hope you found our post about The Best tips for living in Majorca – Moving to Majorca 2017 – Part II useful!