Financial planning for Americans living and working in Alicante.

Alicante is the quietly serious version of the Costa Blanca dream — Playa San Juan, the marina, Santa Bárbara above the old town, Albir and Jávea up the coast, and Distrito Digital pulling in remote workers and small founders. Rent is half of Madrid, the flight to anywhere in Europe is 90 minutes, and the lifestyle is genuinely good. What nobody mentions: the Valencian Community charges the highest wealth tax in Spain (up to 3.5%), Spain taxes your Roth, your US broker may close on an Alicante address, and the Beckham Law has a 6-month election window most arrivals miss. We build the US side so Alicante actually works long-term.

Cross-border financial planning and US investment management for Americans living abroad, typically with $1M+. Most clients have $1M+ in investable assets; we also work with selected households from $500K.

Written and reviewed by Anthony Walsh, Selanis. Last reviewed 2026-06-29.

Key issues

Valencian wealth tax (up to 3.5%)
Beckham Law 6-month window
Roth IRA taxed by Spain
RSUs taxed on workdays
US brokerage closure risk
Modelo 720 reporting

Valencia charges the highest wealth tax in Spain — up to 3.5% above the threshold. Alicante province is in it.

Unlike Madrid (100% bonificación) or Andalucía (100% bonificación), the Comunidad Valenciana actively levies impuesto sobre el patrimonio with a top marginal rate of 3.5% — the steepest in the country. The exempt threshold is €500,000 of net wealth (€700,000 in some scenarios) plus up to €300,000 for the primary home. For a US senior engineer with a 401(k), a Roth, a Schwab brokerage and vested RSUs, you can cross that threshold in your first year. And above €3M the national Solidarity Tax on Large Fortunes layers on top. We model it annually — not assume it away.

You have 6 months from registering for Spanish social security to elect Beckham. Miss it and pay 47% instead of 24% for six years.

On a work contract or — under the 2023 Startup Law — on a Digital Nomad Visa with a non-Spanish employer, the Beckham regime can fix your Spanish-source employment income at a flat 24% up to €600k for six tax years, instead of the progressive IRPF scale climbing past 47%. Modelo 149 must be filed within 6 months of registering with Spanish social security. Miss it, and you lose Beckham for six full years. In Alicante, Beckham is especially valuable because it can also shield you from regional wealth tax during the regime — a much bigger deal here than in Málaga or Madrid.

Your Roth IRA is tax-free in the US. Spain doesn't recognise that — and Alicante is no exception.

Spain generally treats the Roth as a savings account: inside build-up potentially taxable each year and distributions taxed on the gain at 19–28%. Whether to contribute, convert, draw down, or simply not touch it depends on Beckham status, your timeline in Spain, and your eventual residency. We model it before you make a move you can't easily unwind.

Your US tech RSUs are sourced by workday. Vest in Alicante, get taxed in Alicante — even on shares granted before you arrived.

Spain taxes equity compensation based on where you physically worked during the vesting period. The portion attributable to days worked in Spain is Spanish-source income, taxed at IRPF rates above 47% — unless Beckham applies. The interaction between US withholding, Spanish IRPF, the foreign tax credit on your 1040, and Beckham eligibility is where most arrivals quietly overpay. We map every grant, every vest date, and every workday before they hit your Spanish return.

Every US account over €50k has to be declared. Most arrivals never file it in year one.

If you're Spanish tax resident and any of three buckets — foreign accounts, foreign securities (IRA, 401(k), Roth, US brokerage), or foreign real estate — exceeds €50,000 at year-end, you must file Modelo 720 by 31 March. Modelo 721 covers foreign crypto. The 2022 EU Court ruling killed the abusive penalty regime; the filing obligation itself remains. We bring late filers current quietly.

Schwab, Fidelity and Vanguard are quietly restricting accounts for clients with a Spanish address.

A forced US liquidation crystallises an unplanned tax year — usually in a year you needed predictability, not surprise. Interactive Brokers, Schwab International (for qualifying clients), and a small number of Spain-friendly setups genuinely work for US persons in Spain. The migration has to be sequenced — ideally before you change your address with the IRS and the custodian.

The Sabadell or CaixaBank branch on the Explanada will pitch a fondo or a plan de pensiones. For an American, both are PFICs.

Spanish fondos de inversión, planes de pensiones, PIAS and Unit-Linked savings policies are the standard local recommendation. For a US person they're Passive Foreign Investment Companies — Form 8621 each, with default IRS treatment that can produce a US tax bill larger than the gain itself. Stay US-domiciled.

The DNV gives you Beckham access — but only if your employer is foreign and your structure holds up.

Spain's 2023 Startup Law opened Beckham to Digital Nomad Visa holders working remotely for a non-Spanish employer (up to 20% of income may come from Spanish clients). For US W-2 remote workers and 1099 contractors, the visa is straightforward — but the contract has to read the right way, and the Beckham election has to happen inside the window. We've seen people get Beckham denied because of small structural issues. Get it right before you apply.

Your US employer plan doesn't follow you. The convenio especial and private cover fill the gap.

US employer plans almost never cover routine care abroad. After a year of Spanish residency you may join the public system via the convenio especial for €60–€157/month — but it's regional, has waiting periods, and excludes pharmacy. Most American professionals in Alicante run a hybrid: Sanitas, Adeslas, DKV or ASSSA private cover at €50–€130/month each for fast access. HLA Vistahermosa, IMED Levante and Quirónsalud Torrevieja are the go-to private hospitals. We model the healthcare line — typically €2,000–€5,000/year per person — into your real Spanish cashflow.

Paid in dollars. Rent, padel club and Mercadona in euros. 5–15% swings change the maths.

If you're a US remote worker paid in USD, EUR/USD moves are silent leverage on your standard of living. We layer in a measured EUR exposure sized to your actual euro spending — not the whole portfolio — so daily life isn't held hostage to FX.

Frequently asked questions

Does Alicante have a wealth tax?

Yes — and it's the highest in Spain. The Comunidad Valenciana levies impuesto sobre el patrimonio with a top marginal rate of 3.5%, with an exempt threshold of €500,000 of net wealth plus up to €300,000 for the primary home. Above €3M, the national Solidarity Tax on Large Fortunes layers on. This is the single biggest financial difference between Alicante and Málaga or Madrid.

I just moved to Alicante for a remote job. Do I qualify for Beckham?

Likely yes, under the 2023 Startup Law — Digital Nomad Visa holders working for a foreign employer can elect Beckham, provided no more than 20% of income comes from Spanish clients. You must file Modelo 149 within 6 months of registering for Spanish social security. Miss the window and you lose Beckham for six full years.

Does Beckham shield me from Valencian wealth tax?

Generally yes during the Beckham years — Beckham regime taxpayers are typically taxed on Spanish-situs assets only for wealth tax purposes, which can dramatically reduce or eliminate exposure for a US person whose wealth sits in US accounts. This makes Beckham far more valuable in Alicante than in Andalucía or Madrid. We model both sides before electing.

How are my RSUs taxed if I vest them in Alicante?

Spain sources equity compensation by physical workday during the vesting period. The portion attributable to days worked in Spain is Spanish-source income, taxed at IRPF (or flat 24% under Beckham). The remainder is US-source. Coordinating US withholding, Spanish IRPF, and your 1040 foreign tax credit is where most arrivals quietly overpay.

Is my Roth IRA really taxed in Spain?

Generally yes. Spain doesn't recognise the Roth as a tax-free vehicle. Inside build-up may be treated as savings income year by year, and distributions are taxed on the gain at 19–28%. Strategy depends heavily on whether you're in the Beckham regime and how long you plan to stay.

What's Modelo 720 and do I really need to file it?

If you're Spanish tax resident and any of three buckets — foreign accounts, foreign securities (IRA, 401(k), Roth, US brokerage), or foreign real estate — each exceeds €50,000 at year-end, you must file Modelo 720 by 31 March. The 2022 EU Court ruling killed the abusive penalty regime; the filing obligation itself remains.

Schwab is sending me warnings about my Alicante address. What do I do?

Move the account before they force-liquidate and crystallise an unplanned US tax year. Interactive Brokers, Schwab International (for qualifying clients), and a small number of Spain-friendly setups genuinely support US persons here. Order of operations matters — we sequence the move with your US CPA before address changes hit.

Should I open a Sabadell or CaixaBank fondo de inversión?

Almost certainly not. Both are Passive Foreign Investment Companies under US law. Form 8621 obligations and punitive default IRS treatment can produce a US tax bill larger than your Spanish savings. The €1,500/year pension deduction rarely beats the cross-border friction.

Should I live in the city, Playa San Juan, El Campello, or up the coast in Jávea or Dénia?

Tax-wise it makes no difference inside Alicante province — all Comunidad Valenciana, same wealth tax curve. The differences are lifestyle and cost: the city is denser and more urban, Playa San Juan is the family-friendly beach suburb, El Campello and Albir are slower and more international, Jávea and Dénia are more upmarket. We don't pick the postcode — we make sure whichever you pick, the US side is right.

What about healthcare? My US employer plan won't cover me in Spain.

Correct — US employer plans rarely cover routine care abroad. After a year of residency you may join the public system via the convenio especial (€60–€157/month, regional, with waiting periods and no pharmacy). Most American professionals run a hybrid with Sanitas, Adeslas, DKV or ASSSA private cover at €50–€130/month. HLA Vistahermosa, IMED Levante and Quirónsalud Torrevieja are the main private hospitals locally.

Do you file my US or Spanish taxes?

No, deliberately. We coordinate your US CPA and your Alicante asesor fiscal into one strategy, and we design the investment, equity-comp and pension structure around the positions they sign. Keeping tax prep separate from advice keeps everyone independent.

What does engagement cost?

We start with a 45-minute Complimentary Fit Conversation to scope your situation. From there, engagement starts at $3,000 for a focused planning project, with ongoing management on a tiered fee from 1.00% on the first $1M, falling to 0.30% above $10M. No commissions, retrocessions or product revenue from anyone.

Fees

Blueprint $3,000 and Life $8,000 (flat planning fees). Private Wealth Management on a tiered, blended schedule starting at 1.00% on the first $1M and declining to 0.30% above $10M. Fee-only: no commissions, no product payments, no lock-in. All fees

Book a Fit Conversation — Complimentary Fit Conversation (45 min).