[nemesis1637]

This is one option. You can also get a Non-Lucrative Visa if you don't plan on working in the country. You have to demonstrate a certain financial capacity (to prove you won't be a drain on the system). It's valid for one year and renewable two times for two years each time. After five years you're granted permanent residency. You can join the public healthcare system after the first year. In addition, private healthcare is incredibly good and very reasonable compared to rates in the United States and not linked to employment. (Source: I live in Spain on a Non-Lucrative Visa)

[rnk]

Interesting, I never heard of the non-lucrative visa! So is the only real cost (1) you can't work and (2) you are subject to Spanish income and wealth taxes?

I see from an ad, you have to have 28k euros in your bank account for a year, which seems shockingly low, but it looks like you have to pay spanish income tax, so that must be how they see this as a benefit. I wonder if you are subject to the Spanish wealth tax. As Trump still looks likely to run and could definitely win the presidency (uncertain chance but possible), I think a lot of wealthy Americans will do it. I'm a software engineer and almost everyone I know well enough to ask says they or their friends are investigating. All the immigrants I asked can usually go to their original country, unless maybe they are from a non-free country. This last group all seem to want to go to one of the 3 cheaper Euro countries.

[nemesis1637]

You can't have a Spanish job. My wife and I both have remote jobs in the U.S. This is a highly debated topic in expat forums. Some people argue until they're blue in the face that you can't work at all on a NLV but we consulted many Spanish attorneys before applying and they all agreed that you can have remote income. We just didn't mention it on any of our application paperwork.

Yes, you do have to pay Spanish income and wealth taxes (though the wealth tax varies greatly depending on where you live in Spain, for example it's zero in Madrid). However, you don't get 'double-taxed' on income. You only have to pay either U.S. or Spanish income taxes, whichever is higher (almost always Spanish).

I am telling everyone who asks me, which is a lot right now as you mention, to wait for a bit if they can because Spain is 'any time now' supposed to be approving a digital nomad visa will will make the process MUCH more simple for people who are working remotely. The details haven't all be ironed out yet but: https://www.thehomelike.com/blog/spains-digital-nomad-visa/

Healthcare here really is wild. Our first month here my wife got extreme food poisoning and had to take an ambulance to the ER. The ambulance took her to the public hospital because it was much closer to our house compared to the hospital of our private insurer. She spent a few hours in the ER, including the ambulance ride, it cost €138 out of pocket (since we aren't on the public system). And, get this, our private insurance company reimbursed us for the cost. It's a completely different world.