Send Money To Spain

About The Euro Currency

The Euro was introduced to world financial markets as an accounting currency on 1 January 1999. Physical Euro coins and banknotes entered into circulation on 1 January 2002. By March 2002, the Euro had completely replaced the old currencies.

Nowadays, the Euro is the second-largest and second-most traded currency in the foreign exchange market after the US dollar. It’s the official currency of 19 of the 27 member states of the European Union, and it’s used by around 343 million eurozone citizens.

Fun fact: Inspiration for the € symbol came from the Greek epsilon (Є) – a reference to the cradle of European civilisation. It’s also the first letter of the word Europe, crossed by two parallel lines to represent the stability of the Euro.

Euro Denominations

Notes: €500, €200, €100, €50, €20, €10, €5 Coins: €2, €1, 50c, 20c, 10c, 5c, 2c, 1c

About Spain

Population: 46.7 million Capital city: Madrid Popular expat destinations: Barcelona, Alicante, Málaga, Seville, Valencia

Spain is the second-largest country on the Western side of Europe and has one of the most diverse cultures in the world. Originally, it was made up of a collection of folk groups, spread across multiple regions within Spain. Each group had its own cultural characteristics and identity. These groups eventually came together to form the country we all know and love today. However, there are still groups within Spain that want independence, like Catalonia and Basque.

You have the right to live and work in Spain as an EU citizen, but you need to register on the Empadronamiento at the local municipality after living in Spain for four months. Registering allows you to apply for a social security number, and you’ll need to get a medical card at the local clinic. Your national identity card lets you purchase property, open a bank account and access other services in Spain.

Homeowners pay annual property tax (impuesto sobre bienes inmuebles por or IBI) at a rate of 3% of the cadastral value for non-residents and 0.3–0.4% for residents. On top of that, every city charges a separate maintenance tax for services like utilities and waste removal – usually a few hundred Euros per year. You’ll pay around €40/month on average for electricity. Gas, water and waste removal cost another €40.

5 Interesting Facts About Spain

• The Spanish name for Spain is España
• Spanish is spoken in 20 countries
• It’s the world’s largest producer of olive oil
• It has more than 5,000 miles of beaches
• It contains 44 UNESCO world heritage sites