Real Estate Investment Immigration to Spain focuses on Spanish Welfare: Spain has long established a relatively complete social security system, ranking among the high welfare countries in Europe. Now, more and more people are choosing to immigrate to Spain to enjoy its comprehensive social security system. So, what exactly is the social security system in Spain?
The social insurance system in Spain is well-established. When companies hire employees, in addition to paying salaries, they must also contribute approximately 30% of the employee's net salary towards social insurance. The social insurance fees vary by industry and include the following three categories:
1. The general social insurance rate for full-time employees is 28.3% of the salary, of which the individual contributes 4.7%
(mainly referring to medical care, pensions, etc.) The rate for part-time employees is 11.32% of the salary, of which the individual contributes 1.88%
2. The rate for occupational accident insurance for both full-time and part-time employees is 0.99% of the salary, of which the individual contributes 0.63%
3. The rate for unemployment, training, and other insurances for full-time employees is 8.9% of the salary, of which the individual contributes 1.7%
The rate for part-time employees is 0.4%, of which the individual contributes 0.0%
Since the 20th century, Spain has focused on social insurance and began to establish its social security system. By the 1980s, Spain emphasized and strengthened the construction of the social welfare system, further improving the social security system. The promulgation of the "Basic Law on Social Security" in 1994 marked a further improvement of the Spanish social security system, achieving a balance between social insurance, social welfare, and social assistance for universal social security.