Your complete guide to relocating to Mallorca
When you make the life changing decision to relocate to Mallorca, there are many important things to consider. Here is your comprehensive guide to take you through the process of moving to the Balearic island.
Whether you’re planning to live permanently or just spend part of your time in Mallorca, you’ll need to find a home. Make a list of the features/amenities you want in a property and the neighbourhood (e.g. access to schools, hospital, public transport etc), and stick to your requirements to save time when researching the market. If you don’t know Mallorca well, it’s worth renting a property for a while so that you can explore the island and identify areas where you think you could happily live. You’ll find a wide choice of properties for sale or to rent, suitable for all budgets and tastes.
In need of someone to look after your property in Mallorca? From cleaning to redesign and renovation, these property management companies can help you.
Understanding that there is a sizable second-home market on the island and that many villas, fincas and apartments stay empty and unattended for weeks or even months at a time, a property manager provides a sense of comfort and reassurance for owners knowing that their homes are being looked after by reliable and trustworthy people.
You cannot purchase a property, arrange for utilities (electricity and water supply) or buy anything major in Majorca without an NIE number, for which you’ll need to produce your passport and two passport-sized photographs. The NIE is your Spanish tax office reference, identifying you as a foreign citizen, so make this an early task in organising your move to Mallorca. If you live in Spain for more than 90 days a year you will also need a Residency Certificate – whether renting or buying a home.
Once you’ve obtained your NIE number, you’ll be able to open a bank account. It’s advisable to take along as many bits of paperwork as you can in order to complete the process; as a foreigner you’re likely to be asked for proof of address and employment status, in addition to your empadronamiento certificate (issued at your local town hall) plus, of course, your passport.
Banca March has been supporting people and businesses in Mallorca to manage their money and achieve financial success for more than 90 years.
Thinking of buying a home on Mallorca? Then you may need to apply for a mortgage through a Spanish bank….. Avoid the stress and hassle of trying to figure out the complex system here and speak to an independent expert who will find you the best option to suit your needs. The team at Lionsgate Capital has many years of experience, working with more than 15 Spanish lending institutions to ensure you get the best rates. If you are from a Scandinavian country and would like to buy a home on Mallorca, you can also count on the mortgage experts from Nykredit International, the largest mortgage lender in Denmark, whose office you can find now in Palma as well.
A luxury financing and premium lifestyle servicing firm, Lionsgate Capital makes life better for high net-worth clients on Mallorca and beyond.
The largest mortgage lender in Denmark, Nykredit International aims to make owning a home in Mallorca easier for all Danish Citizens.
When buying a property, you’ll need a lawyer specialising in Spanish law to act on your behalf. There are some excellent law firms on the island, with multilingual staff to assist you through the purchasing process. You will also have to have the services of a notary, whose role is to ensure that the transaction has been completed in line with government regulations, and to approve and witness the escritura, or deed of title, which then has to be registered. Once you have purchased your new home, it’s essential to make a Spanish Will to cover your assets in this country, because of Spain’s particular inheritance laws.
It pays to take your time finding the right lawyer for your needs in Spain. Here’s abcMallorca’s pick of the best legal experts on Mallorca.
Once your property is purchased, you’ll need to insure it. Talk to an insurance broker, insurance company or your bank to find the best insurance policy to suit your needs, remembering to advise them if the property will be empty for some time during the year.
Are you tax resident in Spain? This tax guide from Blevins Franks explains the tax rules in Spain and how it will affect your tax situation.
Are you liable to pay tax in Spain? Find out about the changes in Spanish taxation in 2015 and how it will affect your personal circumstances.
The Spanish tax year runs from January 1st to December 31st – and that’s the simplest thing that can be said on the subject! If you spend more than 183 days a year in Mallorca (not necessarily consecutive), you are considered a resident for Spanish tax purposes, and will have to submit a tax return before the end of June each year. Taxation in Majorca – particularly if you have property and investments outside Spain – is a complex subject, best tackled with the expert guidance of a professional financial adviser. As well as income, wealth and possible other national taxes (depending on circumstances), there are municipal taxes, otherwise known as IBI, and rubbish tax (basura).
Blevins Franks Wealth Management can help you relocate to Mallorca and organise your cross-border tax planning, investments and UK pensions.
Get your financial planning in order early in 2019, taking into account new tax law changes, and reap the rewards later on and for years to come.
A professional financial adviser can do more than ensure optimum tax efficiency: They will help you with mortgages, pensions, trusts, and devise a wealth management strategy to suit your level of income and investments. In Mallorca, Blevins Franks – a long established group of financial advisers with offices in London and throughout Europe – have been looking after the needs of clients in Majorca for many years.
There’s a lot of official paperwork involved in moving to and living in Mallorca and it can seem overwhelming – particularly if your Spanish language skills aren’t quite up to scratch. When in Spain, do as the Spanish do, and let someone else do all the hard work for you: A gestoría (providing administrative services) or other specialist service company will take the pain out of paperwork, leaving you to the important business of settling into your new life on this lovely island.
Mallorca has a wide range of excellent public and private health facilities, including hospitals, clinics, general practitioners, maternity services, dentists, medical specialists, and nursing services. Many will be able to attend to your needs in your own language. Eligibility for care under the Spanish state healthy system depends on your circumstances, and it’s worth seeking guidance. If you have existing private health cover in your country of origin, it might be transferable, but it can be more cost-effective to find a policy primarily for Spain. Careful research of the health insurance market could save you money, as policy cover and conditions vary considerably; there are several insurance brokers in Mallorca who can help you find the right healthcare policy for your circumstances.
Join ASISA and receive the very best in Spanish private healthcare entirely in English! Find out more here.
Stay healthy and well on Mallorca with the help of abcMallorca’s reliable guide to everything medical and health related.
Your comprehensive guide to finding a family doctor on Mallorca plus the best clinics and hospitals with staff who speak foreign languages
If you are making a lump sum payment, or have regular income (for example, a pension), from outside the Eurozone, the amount of money you have at your disposal will fluctuate with exchange rates. A currency exchange broker carefully monitors the money markets, and seek to make the currency transaction at the time when you’ll benefit from the best rate of exchange, to meet your deadlines.
If you are bring a vehicle to Mallorca from your home country, it must be officially registered and any due importation tax must be paid (the same applies to a trailer). If you have a home on the island, you can drive the vehicle with its original registration plates for only 30 days, after which you must display Spanish registration plates if not you could find your car is confiscated. You’ll also need to register your original driving licence with the authorities. Road tax is payable each year, and any vehicles more than four years old must undergo an annual vehicle safety check known as an ITV (inspección técnica de vehículos), at an official ITV centre. Spanish bureaucracy is renowned for its abundance of paperwork and, with vehicle-related matters (including boats), it seems endless. Expect to make several visits to the government’s Traffic Department (Tráfico) in Palma . . . or seek help (see below).
Making the decision on where to send your kid/s to school is a big one so here is helpful background information to schools in Mallorca.
All-round quality education for your child. Here is your complete guide to the best International schools on Mallorca.
There’s a choice of local and international schools on Mallorca, to suit the curriculum you’d like your child to follow. International schools often have waiting lists, so planning the timing of your move is important. As well as enrollment and school fees, you’ll need to consider the costs of uniform, books, sports and other equipment.British schools include: The Academy, Baleares International College, Bellver International College, King Richard III, Queen’s College; Eurocampus is open to German and Swedish students only and follows the education system for their countries, and the French curriculum is offered at the College Français de Palma. You will also find a Sixth Form college in Palma: Palma College offers bridging the gap between school and university with excellence in education; life skills and preparation for the world of work. The well-equipped international school Ágora Portals is the largest private school in Mallorca and part of the Barcelona-based private school group NACE.
If you plan to get a job on Mallorca, you’ll need to apply for a Social Security card and number and pay contributions (which will give you some State healthcare entitlement). Perhaps you dream of opening a business on Mallorca? EU citizens can set up a business on the island once they have their NIE. Spain has several types of legal structures for businesses (eg Autónomo/sole proprietor; Sociedad Civil/partnership) and you should seek professional advice to find the right one. You might require a special licence or, for a profession, need to have your qualifications recognised to practise on Mallorca. The entrepreneurial spirit is alive and well in Mallorca and the international business community here is full of successful business people. Networking with others in this community is an invaluable experience, allowing you to learn and share information, and forge useful collaborations.
Want to keep up with news and favourite TV programmes from your home country? Talk to one of the island’s specialists to arrange the relevant satellite TV service for your requirements. There are many companies offering this service to British clients’, and can install Sky, HD and Freesat. Making friends can be challenging in a new country – especially if you don’t have children – and it’s sometimes hard to establish a new social life.
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