How Much Money Do I Need to Get Residency in Spain

Minimum Income Requirements & Proof of Finance for Spanish Residency

The minimum income for Spanish residency for the non-lucrative visa is calculated using the formula IPREM (Indicador Público de Rentas de Efectos Múltiples).

Depending on the visa type, and the number of dependants, your minimum income is determined.

In calculating the proof of income for non-lucrative residency, you must have an annual income of 400% of IPREM in your bank account.

The IPREM for 2025 remains at €600 per month. Therefore, as an individual, you will need to have €2,400 as a regular guaranteed monthly income or a yearly income of €28,800.

If you have dependants that will move with you to live in Spain, 100% of the IPREM is required for each; this amounts to €600 monthly or its equivalent in foreign currency.

When applying for a Golden Visa, you only need to prove your financial assets. You need to be fully aware that before a Golden Visa can be issued, you must have a sizable investment in Spain.

Spanish Residency Visas for Non-EU Citizens

Living in a country that is not part of the European Union or Schengen Area like Spain will require you to have a visa before you can live there. The minimum income is one of the requirements for Spanish residency.

The proof of income requirements change almost every year, and determining the minimum income for Spanish residency depends on the category you are applying for.

UK Nationals Before Brexit

A few years ago, UK nationals did not need a visa to live in Spain. But with Brexit, UK nationals are now known as non-EU citizens, or Nationals of a Trusted Third Country (TTCNs), though not common.

Ever since the UK left the EU, UK nationals looking to stay in Spain can only do so for a maximum of 90 days in any 180 days. Though it is fine for those who are vacationing, the restriction is not favourable to those who own second homes in the country and want to spend long periods there.

When the Brexit transition period fully expired, the Spanish residency requirements for UK nationals to live permanently in Spain changed. They now need to comply with the rules that apply to citizens of all non-EU countries.

Sufficient Funds to Support Yourself in Spain

Non-working (Non-lucrative) residence visa

The requirement for the minimum income for the non-lucrative visa application is calculated using the IPREM (Indicador Público de Rentas de Efectos Múltiples). The IPREM for 2025 is €600 per month, and you need to prove 400% of the IPREM is received into your bank account annually.

If you plan on taking any dependants to live in Spain with you, each will require 100% of the IPREM. The breakdown is as follows:

• As the main applicant, proving 400% of the Spanish IPREM (Indicador Público de Renta de Efectos Múltiples) means that you will have at least €2,400 per month or €28,800 yearly or the equivalent of foreign currency.
• Each family member will need to have a further monthly income of 100% of the IPREM which would be €600 per month or the equivalent in foreign currency.

Let’s say you plan on moving to Spain with a partner and two children. You will need the following minimum income;

• You – €2,400 (Monthly) or €28,800 (Yearly)
• Partner – €600 (Monthly) or €7,200 (Yearly)
• Child 1 – €600 (Monthly) or €7,200 (Yearly)
• Child 2 – €600 (Monthly) or €7,200 (Yearly)

From the breakdown above, a couple wanting to get Spanish residency would require a total monthly income of €3,000 and a yearly income of €36,000.

• A family of three will require a monthly income of €4,200 and a yearly income of €50,400.
• A family of four will require a monthly income of €4,800 and a yearly income of €57,600.

Golden Visa

The second option for obtaining Spanish residency is the Golden Visa. The Golden Visa is also known as the Investor Visa or ‘Visado de Residencia Para Inversores y Emprendedores.’ This type of visa is for those who have made a substantial investment in Spain.

The Golden Visa is also for investors and entrepreneurs aiming to permanently live, work, and set up a business in Spain. To get your Golden Visa approved, you will need to show any of the following assets:

• Real estate (€500,000)
• Bank deposits (€1 million)
• Investment funds, investment funds of the close-end type or venture capital funds set up in Spain (€1 million)
• Spanish company shares (€1 million)
• Business projects. While there is no minimum investment required, a project must nevertheless;
  • make a significant contribution to technological and (or) scientific innovation
  • create jobs
  • be of economic and social impact on the geographical area of the establishment
• Taking over public debt (€2 million)

What Documents Do You Need for Your Spanish Residency?

Aside from meeting the minimum income requirement, you need documents to show proof of income for your Spanish residency.

To demonstrate that you have enough financial means to reside in Spain, proof of income can be any or all of the following original documents, depending on your visa type;

• Bank statements
• Business accounts
• Pension statements
• Other assets and investments that are in your name

Proof of income for Spanish residency is required since the Spanish government wants to know that you will not become a financial burden on the state.

Therefore, to meet the residency requirements, you will need to prove that you have a consistent guaranteed income – monthly or yearly.

Other documents that you need before applying for Spanish residency are:

• Medical certificate – An original copy of a medical certificate accrediting that you do not suffer from any disease that could cause serious repercussions for public health is required.
• Passport photographs – You will need a recent, passport-size colour photograph taken against a light background, facing forward, without dark or reflective glasses or any garments covering the oval of the face.
• Original passport – The pages of your passport containing biometric data must be valid and unexpired. It must have two blank pages with a minimum validity period of 1 year. You should, however, note that any passport issued more than 10 years ago will be rejected.
• Health insurance – A copy of an original certificate of public or private health insurance with an insurance entity authorised to function in Spain. You need to note that travel insurance that does not include medical coverage will not be accepted.

How Can IAS Help?

The minimum and proof of income for Spanish residency are required before your residency visa can be approved.

If you’re a UK national and you’re planning to relocate to Spain, IAS can help. Even if you’re a non-EU citizen and want to reside in Spain, you are not left behind; IAS can also help.

We are experienced, professional legal advisers working within the field of UK and international immigration. We can assist you on how to choose the right type of Spanish residency for your case and guide you on how to satisfy your minimum income requirements.

As the minimum income for Spanish residency changes every year, you need a legal professional to brief you on how to satisfy your residency application. We can also assist you with other documents you and, /or your dependents need to apply for a Spanish residency.

For more information about the services we offer, and how we can help you with your Spanish residency, reach out to a member of our team today. Call us on +44 (0)333 414 9244, or contact us online.