Applicants for the Spain Digital Nomad Visa must show a monthly income of at least €2,259.60 or €27,115.20 annually from remote work or freelance projects.
To qualify for the Spain Digital Nomad Visa, applicants must demonstrate sufficient financial means to support themselves during their stay in Spain. Here are the detailed income requirements:
1. Minimum Income Level
- Threshold Amount: Applicants need to prove that they have a stable income that is at least 200% of the Spanish minimum wage. As of 2024, the Spanish minimum wage is approximately €1,080 per month. Therefore, the required income level for the Digital Nomad Visa is around €2,160 per month.
- Annual Income: This translates to an annual income requirement of about €25,920.
2. Proof of Income
- Bank Statements: Applicants must provide recent bank statements (usually covering the last six months) to demonstrate their financial stability and regular income.
- Employment Contracts: If employed by a company, applicants should provide an employment contract or a letter from their employer confirming their remote work arrangement and salary.
- Freelance or Business Income: Freelancers and business owners must provide contracts, invoices, or other documentation that proves their income meets the required threshold. This might include contracts with clients, proof of payments received, and detailed financial records of their business activities.
3. Additional Financial Proof
- Savings and Investments: Applicants can also show proof of significant savings or investments to demonstrate their ability to support themselves financially during their stay in Spain. This includes bank statements showing substantial savings, investment account statements, and other financial assets.
- Tax Returns: Providing recent tax returns can further substantiate the applicant’s financial stability and income levels.
4. Comprehensive Documentation
- Consistent Income: The documentation provided must show consistent income over the required threshold for the months leading up to the application.
- Translated and Certified Documents: All financial documents must be translated into Spanish (if not already in Spanish) and certified as true copies where necessary.
Summary
The Spain Digital Nomad Visa requires applicants to have a stable monthly income of at least €2,160, which is 200% of the Spanish minimum wage. Proof of this income can be provided through bank statements, employment contracts, freelance contracts, and other financial documents. For more detailed information and assistance with the application process, visit Movingto.io.