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Spain’s Costa del Sol: A Sunlit Paradise for Expats

Embrace the year-round sunshine and breathtaking coastlines of Spain's Costa del Sol, a haven for expatriates seeking a blend of vibrant community life and serene beauty. This region is a treasure trove of lifestyle opportunities, from the cultural allure of Malaga to the pristine beaches of Marbella. Join the thriving expat community and discover a life where every day is a celebration under the sunlit skies of Andalusia.


about QROPS


overseas asset management


with pensions, savings & investments

Average yearly wage

27,000 EUR

Average retirement age

65 years

Average weekly working hours

36.4 hours


Euro (EUR)

Renowned globally for our comprehensive wealth management expertise, we offer holistic financial planning services tailored to secure and enhance your financial wellbeing, no matter your location worldwide.

Life on Spain’s Costa del Sol

Living on the Costa del Sol remains a coveted dream for many UK expats and retirees, attracted by its sun-drenched beaches, relaxed lifestyle, and vibrant community. However, navigating the financial landscape, especially with recent tax changes, is crucial for those making this beautiful region their home.

Spain introduced a new solidarity wealth tax, affecting residents with a net worth exceeding certain thresholds. Specifically, individuals with a net worth between 3 million EUR and 5 million EUR are taxed at 0.7%, those between 5 million EUR and 10 million EUR at 1%, and any wealth above 10 million EUR at 1.5%. Importantly, there are exemptions and deductions available, such as for the principal property (up to 300,000 EUR) and family-run companies, making strategic financial planning essential​​.

Tax regulations also offer deductions for residents, including social security payments, pension contributions, and costs related to the main home, among others. The basic personal allowance varies with age, increasing for individuals over 65 and 75, with additional allowances for families with dependent children under 25​​.

Given these complexities, expats living in the Costa del Sol must seek expert wealth management advice to navigate Spain’s tax landscape efficiently. Blacktower, with its experienced team and office in Mijas, is well-equipped to provide innovative solutions tailored to the financial aspects of expat life on the sunny Costa del Sol. Our expertise ensures you can enjoy the region’s lifestyle to the fullest while managing your financial health and compliance with local tax laws.

The Benefit of Living on the Costa del Sol

Living on the Costa del Sol offers a multitude of benefits for those seeking a blend of leisure, culture, and quality of life under the Spanish sun. This region, aptly named ‘Coast of the Sun,’ enjoys over 320 days of sunshine annually, ensuring a warm climate year-round that’s more generous than even the Canary Islands. Such weather makes it an ideal destination for British expats desiring a sunnier climate.

The area is renowned for its stunning beaches, with miles of white sands along the Mediterranean shore. The Costa del Sol not only offers scenic beauty but also boasts a high number of Blue Flag beaches, a testament to their cleanliness and the quality of amenities available, making it a prime location for beach lovers.

Beyond natural beauty, the Costa del Sol excels in providing a high quality of life. The cost of living here presents excellent value, especially when considering property prices in comparison to other desirable locations. Spain’s healthcare system is recognized for its efficiency, providing residents with peace of mind regarding their health and well-being. Additionally, the region is well-connected to the wider world through Malaga’s international airport, facilitating easy travel for residents looking to explore or connect with family and friends abroad.

This combination of favourable climate, beautiful surroundings, and a supportive infrastructure for a comfortable lifestyle makes the Costa del Sol an attractive choice for anyone considering relocating for a better quality of life.

Best Places to Live on the Coast of the Sun

The Costa del Sol continues to be a prime destination for those looking to relocate, offering a variety of locations each with its unique charm and lifestyle. Here’s an updated look at some of the best areas to consider:

Malaga is more than just a beach destination; it’s a cultural hub with numerous museums such as the Picasso Museum and the Carmen Thyssen Museum. Recent developments have revitalised the city, making it an attractive option for those seeking urban life combined with beach accessibility​​.

Torremolinos boasts a seven-kilometre beach and a mix of tourist attractions and expat-friendly living spaces. Its proximity to Malaga’s airport and the commuter train connection makes it a convenient location​​.

Benalmádena is known for its leisure facilities, such as Selwo Marina, the Butterfly park and the Aquarium, alongside a 7,000-square-metre sports centre. Like Torremolinos, it’s easily accessible from Malaga, offering a vibrant expat community​​.

Fuengirola is celebrated for its sandy beaches and has grown from a small fishing village into a bustling town with excellent local transport links, making it a favourite among expats​​.

Estepona presents a more traditional and less touristy living environment, with authentic Andalusian vibes, traditional whitewashed houses, and beautiful beaches​​.

Puerto Banus is noted for its luxury living, with high-end villas and yachts, catering to a more affluent crowd looking for a stylish lifestyle​​.

Mijas Costa offers a great blend of golf resorts, traditional Spanish villas, and modern apartments, appealing to retirees and families alike due to its international schools and thriving expat community​​.

Nerja remains a gem with a significant expat population enjoying a quieter ambiance, with the old town, Burriana beach, and a vibrant summer nightlife​​.

Each of these areas offers its unique advantages, from cultural richness and historical sites in Malaga to the luxurious and cosmopolitan lifestyle of Puerto Banus, and the tranquil, traditional settings of Estepona and Nerja. Whether you’re seeking the bustling life of a city, the tranquillity of a coastal town, or the luxury of a marina, the Costa del Sol has something to offer.

Managing Your Finances on the Costa del Sol

At Blacktower, we understand the unique financial needs and challenges that expatriates face when living in Spain. Our comprehensive wealth management services are specifically designed to address the complexities of managing wealth across borders. With a deep understanding of both the local Spanish financial landscape and the broader international context, Blacktower is well-equipped to provide tailored financial advice and solutions that are specifically relevant to those residing in Spain.

Our team of experienced financial advisers, based in various locations across Spain, including the Costa del Sol, offers a range of services crucial for expatriates. These services include pension planning, which is vital for ensuring a comfortable retirement in Spain, and pension transfer scheme advice, which can be critical for those looking to optimise their pension savings while complying with both local and home country regulations.

Tax planning is another area where Blacktower provides invaluable support. The Spanish tax system can be complex, and understanding the implications for your wealth, including the impact of the worldwide asset declaration requirement (Modelo 720), is essential. Our advisers are skilled in navigating these complexities, ensuring that you can optimise your tax position while remaining fully compliant with Spanish tax laws.

In addition to these services, Blacktower offers wealth and asset management, helping you to grow and protect your wealth in Spain. This includes investment advice tailored to your risk tolerance and financial goals, ensuring that your assets are working effectively for you in the Spanish financial environment.

Based in various locations across Spain, including multiple offices across the Costa del Sol, our representatives are on hand to provide expert expat wealth management services including pension planning, pension transfer scheme advice, tax planning and more.

For expatriates in Spain, managing finances efficiently requires specialised knowledge and expertise. Blacktower’s local presence, including our office in Mijas, means we are ideally placed to offer this support. Our advisers understand the local context and can provide advice in your language, making the financial planning process as straightforward and effective as possible.

Get in touch with Blacktower today for expat financial advice ranging from tax and inheritance planning to wealth and asset management.

Contact our Mijas office for information from financial advisers who speak your language. You can fill out our contact form and arrange a call at a time to suit you, or phone our Costa del Sol office directly on + 34 952 816 443.

Need More Information? 

Residents of Spain with UK Pensions.
Financial advice in Spain
Financial advice in Marbella.

Contact the Spain-Costa del Sol Office

Centro Idea, Carretera de Mijas KM3.6 Local A44, 29650, Mijas, Málaga, Spain

Tel: +34 952 816 443

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