Posted: Fri Mar 17, 2023 1:21pm
As a resident you will not have such high bank charges, indeed if you pick your bank carefully you won't have any. For instance, we have an online account with BBVA and have no charges or restrictions. Some banks state free banking provided you pay in a certain amount every month, BBVA online account does not have that restriction.
Also as a non-resident, you have to pay a further annual tax on your property. As a resident you will not have that.
Of course you will have to pay your income tax in Spain. After your first year of residency here you will have to submit a tax form declaring all your world-wide assets. After that it will be dependent upon your income and where it is from. For instance, I have a UK state pension and although I have to declare my income every year I do not earn enough to have to pay tax. For tax questions I really advise you to seek an asesoria (accountant) as it can be a minefield! But I also warn you that to be an asesoria there is no obligation to be experienced or qualified, so you must be careful when finding one!!