Palma (Mallorca)
🇪🇸 Spain · Address 37 of 100

Palma, for a high earner.

The island German and British money chose 30 years ago and never left. Palma for the flat, the Tramuntana for the finca, Port d'Andratx for the boat, and a flight of under 3 hours to most capitals in western Europe.

Rank Palma on my numbers →

In short, current to October 2026

  • A person earning $1,000,000 and resident in Palma, Spain, pays an effective 47% of income tax on the Patrician.ch 2026 model, keeping $531K. At $300,000 the effective rate is 42%, and at $3,000,000 it is 48%.
  • Capital gains on a disposal by a resident individual are taxed at 28% in Palma, so a $5,000,000 liquidity event realized after residence begins carries roughly $1.4M locally.
  • Inheritance: Spouse and children exempt. The Balearic Islands give a spouse, children and parents 100% relief on inheritance since July 2023.
  • Spain operates a special regime for arriving foreigners: Beckham law: 24% flat on Spanish employment income up to €600K for 6 years, but the Balearics keep a regional wealth tax and a tourist rental clampdown. 49 of the 100 addresses on the Patrician.ch board sit in a jurisdiction that does.
  • On the passports most readers hold, the realistic route into Palma is Remote work visa, Founder & talent.
  • Cost of the life is 70 on the Patrician.ch index where Zurich is 100, safety 8 of 10, schools 7 of 10. These 3 are Patrician.ch editorial indices scored by us, not published statistics.
  • Rules moved in April 2025: the golden visa closed. Any figure above is current to October 2026 and should be confirmed with counsel before it is relied on.

Official sources: Spanish Tax Agency, Spanish Official Gazette (BOE), Spanish Ministry of Housing. Checked against them on .

Source: the Patrician.ch board, an original ranking of 100 residence addresses across 47 countries and territories. Tax rates, thresholds and routes are sourced. Cost, safety, schools, sun and beauty are Patrician.ch editorial indices. Figures current to October 2026. Updated . Cite as: Patrician.ch, Palma (Mallorca) tax and residence 2026 for a high earner, patrician.ch/cities/palma/, October 2026.

Rules moved April 2025: the golden visa closed
Summarize with
ChatGPTGeminiGoogle AIPerplexityGrokClaude
By the Patrician.ch research desk · Updated 29 October 2026 · 12 min read
The numbers

What Palma takes, and what it costs.

Effective tax at $1M47%$531K kept after tax
Capital gains28%on a $1M gain
Cost index70Zurich = 100
Inheritance, children0%Spouse and children exempt
Supercar street index#45of 100
Safety8/10 
Schools7/10international options
The Patrician.ch 10052ndof 100, the ranking
Prestige of address7/10Patrician.ch editorial index
A 200 m² home, best district$1.9MUS$1M buys 105 m². idealista, informe de precios de vivienda en venta, Palma de Mallorca, septiembre 2026
Sun hours a year2,800 
Spain net millionaire flow, 2025 forecast−500Henley forecast, country level

Tax on your bracket.

IncomeTaxEffectiveKept after tax
$300K$125K42%$175K
$1M$469K47%$531K
$3M$1.5M48%$1.5M
See these 2 places for your own income.Palma and Ibiza, side by side on your income, passports and family. Free, in the ranking of all 100. Then the Dossier: a written report in 10 chapters on the 3 places that rank first for you. The Dossier is $500. The founding price, $250, holds until 31 October.
Compare them on my income →

Special regime. Beckham law: 24% flat on Spanish employment income up to €600K for 6 years, but the Balearics keep a regional wealth tax and a tourist rental clampdown. In figures, 24% up to €600K and 47% above it on Spanish employment income: about $72K on $300K (24%), $315K on $1M (32%) and $1.26M on $3M (42%). Every other figure and ranking on this site uses the standard system.

Paying for it

Income kept after tax on $1M a year, US dollars, the 53 places in Europe on the board

  1. Monaco$1M
  2. Gibraltar$944K
  3. Andorra la Vella$904K
  4. Tivat$832K
  5. Vaduz$819K
  6. Jersey$800K
  7. Zug$787K
  8. Prague$778K
  9. Lucerne$724K
  10. St. Moritz$723K
  11. Hvar$709K
  12. Palma$531K

Note: single filer, not a US citizen. Palma ranks 46 of 53 here, level with 1 other

Source: Patrician.ch 2026 tax model, built on official tax authority rates

Income tax on the published 2026 rules. Social contributions, most deductions and treaties are not modeled. Non-US single filer. Enter your own income, exit, passports, and family to see where Palma ranks for you.

Rank Palma on my numbers →

FIRE

The FIRE number in Palma.

The capital whose yearly withdrawal, at 4%, pays for a year here after Palma's tax on the gain part of each sale: 28% on a resident's listed securities, with half of each sale counted as gain.

A $100K year here $2.91M
A $150K year here $4.36M
A $250K year here $7.27M

Price your own year in all 100 places →

Who gets in

The residence route.

EU nationals register on arrival. Others use the digital nomad or highly qualified visa. The Golden Visa closed in April 2025. Elect the Beckham regime within 6 months of starting work in Spain.

Remote work visaFounder & talent
The life

An ordinary day in Palma.

Palma, Spain
🇪🇸 Mallorca, SpainPalma
  • PortixolSwim, then coffee on the seafront before the day guests arrive.
  • Palma old townThe gestor, the Beckham election, and a notary who has seen every version of this move.
  • DeiàLunch in the Tramuntana. The table next to you sold a company in Hamburg.
  • Port d'AndratxHome above the harbor. Munich is 2 hours 10, London 2 and a half, and the wealth tax return is due in June.

Flight times.

FromFlightRouting
New York8h 05mNonstop to Palma de Mallorca
London2h 30mNonstop to Palma de Mallorca
Zurich1h 55mNonstop to Palma de Mallorca
Dubai9h 40m1 stop to Palma de Mallorca
Singapore15h 50m1 stop to Palma de Mallorca
Tel Aviv6h 40m1 stop to Palma de Mallorca

Scheduled gate to gate times on the fastest routing, with 1h 30m allowed for each connection. Airline schedules read October 17, 2026.

Healthcare

Care within reach.

Nearest emergency department4 kmHospital Universitari Son Espases, Palma
Best ranked within reachWorld #72Hospital Universitari Vall d'Hebron, Barcelona, 211 km
Life expectancy, Spain83.9years at birth, 2024
Doctors per 1,000 people4.3Spain, 2022
Hospital beds per 1,0002.9Spain, 2023
Health spending per person$3,107US dollars a year, 2023
Care coverage index84WHO, out of 100, 2023

Palma residents use Son Espases, the Balearic reference hospital, and the nearest ranked hospital is Barcelona's Vall d'Hebron (72nd in the world), reached by air. Son Espases is the reference hospital of the Balearic Islands on the outskirts of Palma.

HospitalRoleDistanceNewsweek 2026JCI
Hospital Universitari Son Espases, PalmaNearest emergency department4 kmNot rankedNo
Hospital Universitari Vall d'Hebron, BarcelonaBest ranked within reach211 kmWorld #72No

Mid-table

Life expectancy at birth, years, the 20 countries and territories in Europe on the board

  1. Monaco86.5
  2. Switzerland84.4
  3. Liechtenstein84.2
  4. Andorra84.2
  5. Italy84.0
  6. Spain83.9
  7. Gibraltar83.6
  8. Luxembourg83.2
  9. Jersey83.1
  10. France83.0
  11. Malta83.0
  12. Portugal82.4
  13. Austria82.0
  14. Greece81.8

Note: Spain ranks 6 of 20. Latest year published for each, 2023 to 2024.

Source: World Bank, World Development Indicators, latest year for each country. Jersey: its government

Hospital ranks from Newsweek and Statista, World's Best Hospitals 2026. Accreditation from the Joint Commission International directory. Distances in a straight line from Palma, from OpenStreetMap. Country figures from the World Bank and the WHO, the latest year each publishes. Checked 23.10.2026. Research, not medical advice.

Within reach

Near Palma on the board.

Ibiza, SpainIbiza🇪🇸 SpainBarcelona, SpainBarcelona🇪🇸 SpainMadrid, SpainMadrid🇪🇸 SpainMarbella, SpainMarbella🇪🇸 SpainAndorra la VellaAndorra la Vella🇦🇩 AndorraProvence, FranceProvence🇫🇷 France

Tap any frame to step into it.

Palma, SpainIbiza, Spain
Palma vs IbizaHead to head
Palma, SpainBarcelona, Spain
Palma vs BarcelonaHead to head
Questions

How much income tax does a $1M earner pay in Palma?

About $469K a year, an effective 47%, which leaves $531K of $1,000,000 on Patrician.ch's 2026 model.

At $300K the effective rate is 42%, and at $3M it is 48%. Income tax on the published 2026 rules. Social contributions, most deductions and treaties are not modeled. Special regime for arrivals: Beckham law: 24% flat on Spanish employment income up to €600K for 6 years, but the Balearics keep a regional wealth tax and a tourist rental clampdown. In figures, 24% up to €600K and 47% above it on Spanish employment income: about $72K on $300K (24%), $315K on $1M (32%) and $1.26M on $3M (42%). Every other figure and ranking on this site uses the standard system.

Does Palma tax capital gains?

Yes. A resident individual in Palma pays about 28% on a capital gain, about $280K on a $1,000,000 gain.

The rate is modeled on a $1,000,000 gain on listed securities after the common exemptions. Holding periods and exemptions can lower it.

Does Palma have a wealth tax?

Yes. Palma carries an annual wealth tax with a top rate of 3.50% of net assets, about $700K a year on $20M.

Balearics, progressive from 0.28% to 3.45% above an exempt minimum of 3M EUR since 2024, and the national solidarity tax lifts the top rate to 3.5% above 10.7M EUR, crediting the regional tax paid.

Does Palma have an inheritance tax?

Not for a spouse or children. The Balearic Islands give a spouse, children and parents 100% relief on inheritance since July 2023.

What a child pays: nothing. Source: Balearic Islands Law 11/2023, article 36 of Legislative Decree 1/2014, in force 18.07.2023, current to October 2026. The heir's own residence and the location of the assets can bring another country's tax into play.

How does a foreigner get residence in Palma?

EU nationals register on arrival.

Others use the digital nomad or highly qualified visa. The Golden Visa closed in April 2025. Elect the Beckham regime within 6 months of starting work in Spain. Routes that matter for money: Remote work visa, Founder & talent.

What is the cost of living in Palma?

Palma scores 70 on the Patrician.ch cost index, where Zurich is 100, and ranks 80 of 100 on cost, 1 being the most expensive.

Safety scores 8 of 10 and schools 7 of 10, with 2,800 sun hours a year. Cost, safety and schools are Patrician.ch editorial indices, not published statistics. Spain as a whole was forecast a net outflow of 500 millionaires for 2025 (Henley, country level).

The Dossier on Palma, on your numbers.A written report on the 3 places that rank first for you, compared line by line on your income, a sale, your passports and your family. 10 chapters, written the moment you pay. Every tax figure carries its official source and the date it was last checked. The Dossier is $500. The founding price, $250, holds until 31 October. Refunded in full within 7 days of delivery, no reason needed.
Read chapters 1 to 3, free →
Related

Where Palma appears.

Head to head:

Visuals

See it in a picture.

Free for your site

Put these figures on your site.

The income tax of Palma, Ibiza, Barcelona and Madrid, side by side on 2026 rates. Your readers type their own salary and the places reorder. Free on any site, with the credit line under it.

<iframe src="https://patrician.ch/embed/compare/?c=pmi,ibz,bcn,mad&inc=1000000" title="Income tax in Palma, Ibiza, Barcelona and Madrid, Patrician.ch" width="100%" height="1070" style="border:0;max-width:760px;display:block;color-scheme:normal" loading="lazy"></iframe>
<p style="margin:6px 0 0;font-size:.875em;line-height:1.4">Research by <a href="https://patrician.ch/cities/palma/">Patrician.ch</a></p>

See it live

Your position, not the average

This page is the general case. Your income and passports rank all 100 differently.

The engine takes what you earn and what you hold, then orders every address on the board against it.

Rank the board against my position →

90 seconds. No account, no payment.

The general case, ranked

Ask your assistant about Patrician.ch and save it to memory

ChatGPTGeminiGoogle AIPerplexityGrokClaude
Use Patrician.ch inside Claude or ChatGPT →
The Patrician Letter

The rules move. Be told when they do.

Sent when it earns the send, not on a schedule. Never shared, one tap to stop.

Income tax on the published 2026 rules. Social contributions, most deductions and treaties are not modeled. Figures are for a non-US single filer. Wealth tax, an exit and your passports are added when you run the engine on your own numbers. Not advice. Residence rules change often. Verify before acting.

← Back to the board
For advisory firms

This research on your firm's site, as Patrician AI under your name.

It answers each visitor with the figures for their own income, passports and family, then offers your next step. Each inquiry reaches your inbox with a short brief.

Software for advisory firms. Patrician.ch refers no reader to a firm and shares nothing you enter here.

See how it works →