I see from an ad, you have to have 28k euros in your bank account for a year, which seems shockingly low, but it looks like you have to pay spanish income tax, so that must be how they see this as a benefit. I wonder if you are subject to the Spanish wealth tax. As Trump still looks likely to run and could definitely win the presidency (uncertain chance but possible), I think a lot of wealthy Americans will do it. I'm a software engineer and almost everyone I know well enough to ask says they or their friends are investigating. All the immigrants I asked can usually go to their original country, unless maybe they are from a non-free country. This last group all seem to want to go to one of the 3 cheaper Euro countries.
Yes, you do have to pay Spanish income and wealth taxes (though the wealth tax varies greatly depending on where you live in Spain, for example it's zero in Madrid). However, you don't get 'double-taxed' on income. You only have to pay either U.S. or Spanish income taxes, whichever is higher (almost always Spanish).
I am telling everyone who asks me, which is a lot right now as you mention, to wait for a bit if they can because Spain is 'any time now' supposed to be approving a digital nomad visa will will make the process MUCH more simple for people who are working remotely. The details haven't all be ironed out yet but: https://www.thehomelike.com/blog/spains-digital-nomad-visa/
Healthcare here really is wild. Our first month here my wife got extreme food poisoning and had to take an ambulance to the ER. The ambulance took her to the public hospital because it was much closer to our house compared to the hospital of our private insurer. She spent a few hours in the ER, including the ambulance ride, it cost €138 out of pocket (since we aren't on the public system). And, get this, our private insurance company reimbursed us for the cost. It's a completely different world.
For example: Korean medical fees are controlled by the government, to the point some doctors may struggle to make a living. And Korea offers pretty high quality healthcare.
I thought I broke a rib so I got two x-rays. This only cost $15 including consultation with the doctor. Without insurance.
Later when I got insurance, I had 5 x-rays of my knee taken. Only cost $5. The non-insurance rate would have been about $20. (Korean public health insurance generally covers 70% of covered fees.)
Another example: I can get a 6-month supply of generic Accutane for about $50 (not covered by Korean health insurance). This would likely cost thousands of dollars in the US.
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Finally, if you plan to be abroad for only about a year, traveler's health insurance for non-US countries is usually very reasonably priced.
The other common path is marrying a foreign national.
The USA has these same rules. When someone comes into the US on a tourist or student visa, or no visa, then tries to get a job, or works under the table, they are breaking the law and can get jailed and deported if caught.
Source: US citizen, lived overseas for 5+ years working for US companies remotely.
Several companies offer traveler/nomad and expat insurance policies that give global coverage. I used CIGNA, I also know about BUPA. You can find others. Premiums depend on your age, health, and where you plan to live/visit. Generally expat policies don't apply to US medical care, or have restrictions on care received in the US.
Some places offer health care at such low cost that you can essentially self-insure by saving money and paying out of pocket.
Most remote friendly tech jobs I've seen offer a 90k euro base, at which point you live like royalty in most cities.
But usually you need to be able to show immigration that you have enough money to support yourself for the duration of the trip or visit.
The best would be to get a fulltime job in a European country for a few years and then get a permanent residency, resign your job and scratch your butt all day and still enjoy more or less free healthcare for life =)
BTW breaking ribs is something that might not get diagnosed right away 100% of the time. Maybe plan to not break ribs.
