News and information from Spain
International Edition - February 2024
Welcome to the February issue of 'The Word on the Street'. This is your monthly news and information from Spain provided by Ábaco Advisers. We hope to keep you in touch with the news, events and just a little bit of gossip.
There are no longer seven, now there are eleven reasons why a donation is really interesting in the Valencian Community (And another advantage in ISD for inheritances)
Donating property in Spain – eleven reasons why it might benefit you

How do you ensure that your property is passed on to those you love without imposing an unexpected financial burden? It is a major consideration for those with property in Spain and whose beneficiaries may be unaware of the implications of Spanish inheritance procedure.

At Ábaco, we believe that donating your property is a good alternative that suits many families better than waiting until someone dies. Now, the positives surrounding donation have recently increased and in this article we share our eleven reasons why you should consider it:

The 720 asset declaration form (and NEW 721 FORM!!)
720 and 721 reminder

The end of March is the deadline for submitting the 720 and 721 asset declaration forms. If you have already done this and your circumstances haven’t changed then there is no need to submit it again. However, if you live in Spain and have property or other assets in another country then you are required to declare them on these forms.

The 720 includes bank accounts, pension plans and property whereas the 721 refers to cryptocurrencies. If you are unsure if you should complete one of these forms or not, you might like to read our article or contact our tax department for advice:

Ear-splitting, head-thumping – it’s Las Fallas!
The Fallas in Valencia

Following the tragic fire that the city recently experienced, three days of festivities were cancelled. However, the Fallas will still continue in March and if you are able to visit, this is an amazing festival that takes place from March 1st to 19th, with the main events from the 17th to 19th.

It is likely that many city centre hotels will already be booked up, but some coach tours still have seats available and, of course, you can always travel there for the day and stay outside the city centre. You can also find out more about the festival itself on Ábaco’s website:

ÁbacoClub Magazine

March is the month when our bi-annual magazine is published. In this edition you can read about the Valle del Jerte, how to choose your golf club in Spain and pick up some ideas for what to see and do in Orihuela Costa and Torrevieja. There are many more articles, of course, for you to enjoy in this free magazine, so look out for your copy:

ÁbacoClub Magazine

The Club’s organisers are also busy putting together ideas for events and activities this year. Make sure you keep informed about new opportunities from the Facebook page, website or your ÁbacoOnline account.

Moving to Spain from USA: The Definitive Guide
Moving to Spain from America

Although there is general information depending on whether you are coming from an EU country or outside the EU, many countries have their own individual factors that need addressing when it comes to moving abroad. For US citizens, David Ruiz provides advice about moving to Spain. He is informed by his own experience of living in America himself and the fact that he has helped countless numbers of people to make the move:

Living in Altea Spain: The Definitive Guide
Welcome to Altea

We’re re-visiting some of our favourite Spanish destinations to live and buy in. In this article, David Ruiz tells us about Altea in the Costa Blanca. He describes the attractions that are not to be missed and what you might see and do there. David provides an estimate of how much it might cost to buy or rent property and what you can expect in terms of the weather:

Living in Altea Spain: The Definitive Guide
Sanchez visits Alicante to guarantee water supply
Torrevieja comes up trumps for water

Well, who’d have thought? Suddenly Torrevieja has more to offer than just salt, sea and sun. Now, it’s become a source of hope for a country facing water shortages. Torrevieja is host to Europe’s largest desalination plant and on a recent visit there, Pedro Sanchez (Prime Minister) made a commitment to the people of Spain to make sure there is sufficient water to drink and for the crops:

Sanchez visits Alicante to guarantee water supply
Explained: Spain’s new measure to help young people and families purchase their first home
Getting on the property ladder

It’s no easy job these days for young people to buy their first home – whichever country they live in. Now, Spain is trying to give some a leg up with a new aid package intended to reduce the cost of a first home by 20%:
Do I Really Need An Invitation To Visit Spain After Brexit?
Visiting Spain – what do you need?

For Brits, there continues to be so many rumours about the need for visas, invitations, proof of your spending power etc. What will holidaymakers visiting Spain actually need to show, if anything? This article from Spanish News Today summarises what’s being talked about. However, the article points out that what’s listed here are suggestions more than legal requirements and in case you’re worrying the final paragraph states:

“As long as your passport is valid and has at least 3 months left on it from the date you plan to leave Spain, you should be okay to travel to Spain for your holidays.”

What the Different Results of the ITV Test Mean
Understanding your ITV

The ITV is equivalent to an MOT in the UK – a means of confirming (or not) that your car is safe to continue driving. Although there are similarities, there are also a number of differences and the N332 website continues to be a good source of information with this article explaining what the different outcomes of your ITV might be:

What the Different Results of the ITV Test Mean

Look out too, for the N332’s forthcoming guide to driving in Spain. This will be released on 28th February following its launch in Los Montesinos and you will be able to read it online on computer, tablet or mobile:

Road Trip to Spain! Introduction

The document is aimed at holiday makers who might be driving in Spain for the first time but could prove to be essential reading for some residents too! 
Goya Award for Ghostbuster Sigourney Weaver...and other winners for 2024
Film buff news

If you are interested in international and Spanish films then you might like to read this article in ThinkSpain about the winners of the 2024 Goya Awards. The Goyas are the Spanish equivalent of the Oscars and this year Sigourney Weaver played a starring role:

Goya Award for Ghostbuster Sigourney Weaver... and other winners for 2024
Foreign incomers push population above 48 million for first time ever
How many people live in Spain?

If you are interested in population statistics and trends then you might like to read this article. The article outlines the highlights from the National Statistics Institute (INE) that were published at the beginning of January:

Foreign incomers push population above 48 million for first time ever 
Cherry blossoms Spain: visit Valle del Jerte, home to Spain's most beautiful cherry valley
Visit the Valle del Jerte

As spring approaches what better way to celebrate the time of year than gazing on a valley of cherry blossoms. In this article, Idealista tells us about the beautiful Valle del Jerte and some of the festivals in the area that you might like to see:

Cherry blossoms Spain: visit Valle del Jerte, home to Spain's most beautiful cherry valley

If this spectacle interests you and you would like to know more, watch out for our ÁbacoClub Magazine – due out in March – in which we include a long piece about the area, its changing scenery and celebratory events.
Tap Or Bottle: A Guide To Drinking Water In Spain
Don’t drink the water?

In the 1970s and 1980s you were advised not to drink Spanish tap water. Now, in 2024, does the advice remain the same? In this article from Healthplan Magazine, they discuss the varying merits between drinking tap water, bottled water or having your water filtered:

Electricity pricing upheaval in Spain
Changes to electricity pricing

The cost of electricity in Spain seems to have yo-yoed over the past few years. Now more changes have been announced that hopefully won’t leave us too out of pocket. This article suggests that consumers could benefit but we’ll just have to wait and see:

Electricity pricing upheaval in Spain
AC/DC rocks Sevilla: Exclusive Spanish concert
AC/DC to play in Spain

If you like a little Highway to Hell then you might be interested to hear that AC/DC are due to play in Seville on May 29th at Estadio de la Cartuja. It’s not clear yet how much the tickets will cost but as this is their only tour date at the moment, you might want to be ready at your keyboard to reserve yours. Euroweekly tells us more about their European tour:

AC/DC rocks Sevilla: Exclusive Spanish concert
What interests you?
What interests you?

We would welcome any suggestions for future themes you would like us to cover either in the newsletter or in an article on Spain Explained.

Please let us know by email at

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