2022 increase in Spain's IPREM
Legendary helpful member
Hi all,
As usual in January each year, there has been an increase in IPREM, the index used in Spain as a reference for granting a variety of social subsidies, such as social security benefits.
Perhaps more importantly for forum members, is that it also impacts those applying for Spain’s NLV. UK citizens (and other non-EU nationals) who want to move to Spain with this type of visa have to show they have sufficient financial means to not be a burden on the state - the requirement is set at 4 x IPREM for an individual applicant and 1 x IPREM for a spouse/family member.
On 1st January 2022, this figure increased by just under €20 to €579.02 per month. It means that the financial requirement for NLV applicants is now €2,316 per month, so a non-EU national wanting to apply for their first non-lucrative residency permit in Spain would have to prove they have €27,792 - around €600 more than for those who applied in 2021.
Kind regards,
Kim