What Are the Minimum Resources for Residency Applications

The figures below are general taken from what the Spanish government state is the accepted amount and taken from the minimum income in Spain, the non contributory pension. The civil servants in the various offices for soliciting residence are allowed to use their discretion so figures will vary.

Valid for Residency Applications citizens of the EU, EEA and Switzerland.

Annually 2020:

Individual. 5.538,40 euros.

With families.

2 members    9.415,28 euros.
3 members. 13.292,16 euros.
4 members. 17,169,04 euros.

 

The above figures will rise annually. The information provided from the Spanish royal decree “As regards sufficient financial means, a fixed amount can not be established, but rather the personal situation of nationals of a Member State of the European Union or of another State party to the Agreement on the European Economic Area. In any case, this amount will not exceed the level of resources below which social assistance is granted to Spaniards or the amount of the minimum Social Security pension”.

According to the Spanish government website for those who are making an application non lucrative residency (EU and non EU alike), resources such as property, bonds, saving, share certificates are also to be taken into account.

“Proof of availability of financial means for the period requested, can be accredited by any means of proof, including the contribution of property titles, certified checks or credit cards accompanied by a bank certification that proves the amount available as credit on the card“.

If the means come from shares or participations in Spanish, mixed or foreign companies, located in Spain, it will be accredited by means of certification of the same that the applicant does not exercise any work activity, accompanying sworn statement in that sense”.

Those in employment will use their working status and contract to show income. Similar for those self employed who are likely to be asked to show three months earning.

Pensioners will show the pension.

Resources for Non EU Citizens:

400% IPREM in 2018 amounts to 2.151,36 Euros a month, 25.816,32 euros annually, for individual applicant.

100% IPREM for every additional family member, amounting to 537,84 Euros a month, 6.454,03 annually.

Further info for non-EU citizens

Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.

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