Financial planning for Americans working, building and investing in Málaga.

Málaga isn't just the Costa del Sol airport anymore. Google's Safety Engineering Center, Vodafone's European R&D HQ, the Málaga TechPark and a wave of US tech and startup talent have turned the city itself — Soho, La Malagueta, Pedregalejo, El Limonar — into a younger, more professional version of the Andalusian dream. You came for 320 days of sun, a 90-minute flight to anywhere in Europe, and rent that lets you keep saving. What nobody told you: Spain taxes your Roth, your US broker may close on a Spanish address, your Schwab fondo equivalent is a PFIC, and the Beckham Law has a 6-month window most arrivals miss. We build a US-side financial plan that lets you actually enjoy Málaga.

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

Beckham Law 6-month window
Roth IRA taxed by Spain
RSUs taxed on workdays
US brokerage closure risk
Andalucía wealth tax + Solidarity Tax
Modelo 720 reporting

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

If you move to Málaga on a work contract (or now, under the 2023 Startup Law, as a Digital Nomad with a foreign employer), the Beckham regime can lock your Spanish-source employment income at a flat 24% up to €600k for up to six tax years — instead of the standard progressive scale that hits 47% in Andalucía. The election (Modelo 149) must be filed within 6 months of registering with Spanish social security. Miss the window and you don't get a second chance — for six full years. We model whether Beckham actually wins for you (it's not always — RSUs, foreign passive income and wealth tax interact in non-obvious ways) and we run the election cleanly with your asesor.

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

Spain generally treats the Roth as a savings-income account: inside build-up potentially taxable each year and distributions taxed on the gain at 19–28%. For a 35-year-old who's been told the Roth is the holy grail, this is the single most counter-intuitive tax fact about moving here. Whether to contribute, convert, drawn 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 unwind.

Your Google, Microsoft or US-startup RSUs are sourced by workday. Vest in Málaga, get taxed in Málaga — even on shares granted before you arrived.

Spain taxes equity compensation based on where you physically worked during the vesting period. An RSU granted in Mountain View that vests after you've spent 18 months in Málaga is partially Spanish-source income, taxed at IRPF rates climbing past 47% — unless Beckham applies, in which case the rules shift again. The interaction between US withholding, Spanish IRPF, the foreign tax credit on your 1040, and Beckham eligibility is where most arrivals quietly overpay by tens of thousands. We map every grant, every vest date, and every workday before they hit your Spanish return.

Andalucía bonificó the wealth tax to zero. The national Solidarity Tax catches you above €3M anyway.

Andalucía applies a 100% bonificación on the regional wealth tax — effectively zero. That's a major reason tech professionals choose Málaga over Barcelona (1.75% top rate) or Valencia (3.5% top rate, the highest in Spain). But the national Solidarity Tax on Large Fortunes was specifically designed to claw back wealth above €3M from residents of regions that had bonificated. For a senior engineer with vested RSUs, a US 401(k), and a taxable brokerage, that threshold gets reached faster than you'd think. We model it every year, not assume Andalucía solves it forever.

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 (your IRA, 401(k), Roth, Schwab/Fidelity/Vanguard 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 professionals in Spain. The migration has to be sequenced — ideally before you change your address with the IRS and the custodian.

The Santander or BBVA branch on Calle Larios will pitch a fondo de inversión or a plan de pensiones. For an American, both are PFICs.

Spanish fondos de inversión, planes de pensiones, PIAS and Unit-Linked savings policies sold through Santander, BBVA, CaixaBank and Sabadell are the standard local recommendation. For a US person they're Passive Foreign Investment Companies — Form 8621 each, default IRS treatment can produce a US tax bill larger than the gain. 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 structure has to be clean. We've seen people get Beckham denied because their employment contract didn't read the right way. Get it right before you apply, not after.

Your US employer's health plan doesn't follow you. The convenio especial and Sanitas/Adeslas 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 here run a hybrid: Sanitas, Adeslas or DKV private cover at €60–€140/month each for fast access. We model the healthcare line — usually €2,000–€5,000/year per person — into your real Spanish cashflow.

Paid in dollars. Rent, padel club and tapas 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

I just moved to Málaga 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 always save money?

Not always. Beckham fixes employment income at 24% (up to €600k) but caps foreign tax credits and changes how worldwide passive income is treated. For a high-RSU earner with significant US dividend and interest income, it's usually a win. For a remote worker with heavy US passive income and FTC opportunities, it sometimes isn't. We model both scenarios before the election.

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

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

Does Málaga have a wealth tax?

Andalucía applies a 100% bonificación on the regional wealth tax — effectively zero. That's the headline reason tech professionals pick Málaga over Barcelona or Valencia. But the national Solidarity Tax on Large Fortunes catches residents above €3M, regardless of region. We model it annually.

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 Málaga 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 BBVA fondo de inversión or a plan de pensiones?

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.

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 professionals run a hybrid with Sanitas, Adeslas or DKV private cover at €60–€140/month. We build the line into your Spanish cashflow.

Do you file my US or Spanish taxes?

No, deliberately. We coordinate your US CPA and your Málaga 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).