When you live in a country that is not part of the European Union, or Schengen Area. You will have to request a visa to live in Spain. One of the requirements of the visa’s are minimum incomes. The minimum income requirements for residency in Spain can change every year. Next to this, the minimum requirements depends on the category of visa you will apply for.
In Spain, the IPREM (Indicador Público de Rentas de Efectos Múltiples) is used to calculate your eligibility for subsidies. The amount for 2021 is €564.90 monthly and €6,778.80 yearly. To prove that you have adequate resources to support yourself and any dependents, you must provide proof of the following minimal income levels:
Minimum income for Non Lucrative visa
The non lucrative visa in Spain does not allow you to work or receive salaries. However, it does allow you to have income from other sources.
The minimum income requirement for Non-lucrative visa is €2,259.60 per month, which means that an individual would need to provide proof of a yearly income of €27,115.20.
For every additional family member, the IPREM demands 100% of the cost, which in 2021 is €564.90 per month or its equivalent in foreign currency.
Minimum income for the Golden visa
The Golden Visa in Spain requires a minimum of investments of €500.000. You will need to provide proof of adequate revenue for yourself and your family by setting up a bank statement in the applicant’s name with at least €30,000 on deposit. The importance is proving to have a clean source of funds, because any undocumented income will cause the application to be denied.
Minimum income for the Business visa
The Business visa does not have a minimum requirements, but certain documents are needed to apply. For example, you will need to show that you already have clients for a self employed work visa. For the entrepreneurs there are also complex requirements which should benefit Spain.
Minimum income for EU Blue Card
You must have a contract which pays you at least 50% more than the average wage in Spain OR 20% more if the skills are in demand.
Minimum income Au Pairs visa
There is no minimum income requirement, however in Spain, au pairs are paid a minimum of 70 euros per week in pocket money from their host family. Board and lodging are both complimentary.
These were the minimum requirements for residency in Spain. However, they can change every year. Make sure you consult with your local authorities or a lawyer well before submitting any applications.
If you have any questions about visa requirements for Spain, feel free to contact us. We will get back to you as soon as possible.
Disclaimer: Information on this page may be incomplete or outdated. Under no circumstances should the information listed be considered professional legal advice. We highly recommended seeking guidance from a legal expert if you lack extensive knowledge or experience dealing with any of the procedures outlined in these articles.