The Spanish government has published the exact financial requirements for the new Digital Nomad Visa.
You'll need to earn 31,752 euros per year if you are applying alone. If you are bringing one family member, an extra 11,907 euros is required; for each additional family member it will be an extra 3,969 euros.
This comes direct from the Unidad de Grandes Empresas.
Here's the translation to English:
Applicants for visas or international telework residence authorisations must prove that they have financial resources for themselves and their family members in accordance with the following amounts:
- Holders of visas and residence authorisations: amount that represents 200% of the minimum interprofessional salary ( SMI ) monthly.
- Family units that include two people, counting the owner person and the regrouped person: at least 75% of the SMI. 25% of the SMI will be required for each additional member to the two people mentioned.
What is the minimum wage in Spain?
The salario mínimo interprofesional (SMI) is Spain's minimum wage for monthly salary earners.
Although the monthly payment is 1,134 euros, just to confuse matters, in Spain, workers are paid 14 monthly payments, usually one extra in summer and another at Christmas time. This means that the annual minimum wage will be 15,876 euros. If we divide this by 12, we get 1,323 euros per month.
What are the monthly financial requirements?
For single applicant | For family of 2 | For family of 3 |
|---|---|---|
€2,646 per month (2 x €1,323) | €3,638 per month (2.75 x €1,323) | €3,969 per month (3 x €1,323) |
Each extra person you are bringing as a dependant, add an extra 331 euros for the month.
The annual figures are as follows:
For single applicant | For family of 2 | For family of 3 |
|---|---|---|
€31,752 per year | €43,656 per year | €47,628 per year |
When bringing someone else as a dependant, add an extra €3,972 to the yearly figure.
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