Tax Free Investment in Spain
Secure your financial future with Spain's tax-free savings solution – the "Spanish ISA"
Over 50,000 new SIALP plans were opened in 2024 — securing tax‑exempt retirement benefits for Spaniards and expats alike.
Tailored for expat investors. Regulated in Spain. Backed by Nationale‑Nederlanden.
Discover the smarter way to invest tax-free in Spain
The Sialp Growth Plan is designed to make investing easy, offering daily growth guarantees combined with powerful tax advantages.
The Sialp Growth Plan from Nationale-Nederlanden is a life insurance policy that allows you to invest with a combination of potential returns and guarantees, with the aim of building up capital to support your retirement or future financial needs.
The Sialp Growth Plan guarantees you a capital consisting of:
85% of the highest value reached by your investment over the lifetime of your plan
This capital will never be less than 85% of the premiums paid
Your guaranteed capital rises when markets grow—and is locked in, protecting you from market downturns.
Frequently Asked Questions
What is a SIALP and how does it work?
A SIALP (Seguro Individual de Ahorro a Largo Plazo) is a long-term savings insurance product that allows you to accumulate capital with tax-free returns, provided certain conditions are met. It combines investment and life insurance benefits in one simple solution.
Is the SIALP really tax-free?
Yes — under Spanish tax law, returns generated by a SIALP are exempt from personal income tax if the policy is held for a minimum of 5 years and the total annual contributions do not exceed €5,000.
Who is eligible to open a SIALP in Spain?
Any resident individual in Spain aged 18 or older can open a SIALP. It’s ideal for those looking for a conservative, tax-efficient way to save for retirement or medium- to long-term goals.
What’s the difference between a SIALP and a pension plan?
Unlike pension plans, a SIALP offers liquidity (you can access your money if needed), has a guaranteed return component, and offers tax-free benefits under specific conditions — without waiting until retirement age.
Can I make withdrawals from my SIALP before the 5 years?
Yes, you can withdraw your savings in full at any time after the first policy year. However, if you do so before the plan reaches five years, the tax exemption on any investment gains will no longer apply. Partial withdrawals are not allowed—you must redeem the entire plan.
Is my capital guaranteed in a SIALP?
Yes — your capital in a SIALP is guaranteed, up to statutory levels:
For Nationale‑Nederlanden’s Plan Creciente SIALP, your savings enjoy a guaranteed capital floor of at least 85% of the highest value reached, or never below 85% of the total premiums paid.
Legally, any SIALP must guarantee at least 85% of the premiums paid after five years .
If the insured person dies during the term, beneficiaries receive 101.5% of the premiums paid.
So yes — capital in a SIALP is protected (at the minimum 85% level). Specifically with NN’s Plan Creciente, there’s a daily upward reset of the guaranteed amount — never less than 85% of what you’ve put in, even if markets dip.
What’s the maximum I can invest in a SIALP?
You can invest up to €5,000 per calendar year per person. Contributions above this threshold may lose the tax-free status.
What kind of returns can I expect from a SIALP?
Nationale‑Nederlanden’s Plan Creciente SIALP (their flagship SIALP solution) combines capital protection with growth potential. Here are the key points:
Guaranteed protection of at least 85% of the highest value reached—your assets won’t fall below that level, even in market dips.
Access to global equity exposure via their iGG (individualized Growing Guarantee) investment strategy—designed to boost potential returns while maintaining downside protection.
According to independent ICEA rankings as of Q2 2023, this SIALP leads the market in both total premiums and customer growth, demonstrating strong trust and performance.
Although SIALPs don’t have fixed returns, it’s realistic to expect moderate growth over time, especially as you remain invested for the full 5‑year term. Returns vary depending on the market and your chosen investment mix—but with the Creciente SIALP you benefit from growth potential and peace of mind thanks to the 85% floor guarantee.
Is the SIALP a good option for retirement planning?
Absolutely. It’s an excellent complement to other retirement savings tools, especially for those seeking tax-free growth, low risk, and capital protection.
Can I combine a SIALP with other NN insurance products?
Yes — it integrates well with products like life insurance (Contigo Familia) or health plans, helping you structure a complete financial and protection plan for your future.
How do I open a SIALP through your service?
It’s simple — just chat with us and one of our expert advisors will guide you through the entire application process. We’ll ensure the plan suits your financial goals and takes full advantage of the tax benefits available in Spain.
Our advisory service is provided at no cost to you — you won’t pay any fees for our support. We’re compensated by the product provider, which means you get professional, English-speaking guidance with no added cost and no hidden charges.
Esperanto 11, 29007 Malaga, Spain
Mobile: +34 657 111 073 – +34 616 035 622
Email: info@financeconsultingroup.com
