Spain vs Greece
Two retirement contenders on one comparable scale. Same published formula, same source-cited data; every fact below keeps its citation.
Axis by axis
- HealthcareTied
- Retiree visaSpain +22
- AffordabilityTied
- SafetyTied
- ClimateTied
- Expat communityTied
The facts, side by side
Each value links to the exact source it was verified against.
Financially Independent Person (FIP) national long-stay visa and residence permit
~EUR 2,400/mo single (400% of IPREM, about EUR 28,800/yr), plus ~EUR 600/mo (100% IPREM) per dependent family member.
Minimum passive income of about EUR 3,500 per month for a single applicant, plus roughly 20% (EUR 700) for a spouse and 15% (EUR 525) per dependent child. Over USD 3,000 per month, so a high band.
Full private cover is required for the visa; as a public-system proxy, the Convenio Especial costs ~EUR 157/mo for over-65s (vs ~EUR 60/mo under-65), and private plans for a 65-year-old are broadly in that range or higher.
Non-EU expats typically need private health insurance; public insurance (EFKA/IKA) does not cover private hospitals, and proof of health insurance is required for residence permits. Private facilities offer newer equipment and shorter waits.
~$1,900-2,600 single incl. rent (Madrid single-person costs ~EUR 826/mo excl. rent plus central 1-bed rent); cheaper outside the capital.
Cost of living (excluding rent) is about 23% lower than the US; including rent about 36% lower. A single person's estimated monthly costs are around EUR 784 excluding rent, and a family of four around EUR 2,767 excluding rent.
Madrid 1-bed city-centre rent averages ~EUR 1,417/mo (Numbeo, 2026); expat-favourite cities like Valencia and Alicante run well below Madrid.
Rent is roughly 66% lower than in the US. A one-bedroom city-centre apartment averages about EUR 484 per month and a three-bedroom about EUR 821.
Yes, Spain taxes the worldwide income of tax residents, including foreign private pensions, at progressive rates of 19%-47%. US Social Security is generally taxed only in the US, and government pensions typically only in the source country.
Greece offers a flat 7% tax on foreign-sourced income, including foreign pensions, for qualifying new tax residents, exhausting the tax liability on that income; it applies for up to 15 years and is paid in one instalment by the last working day of July. Application by 31 March of the tax year.
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