2022 increase in Spain's IPREM

Posted: Wed Jan 5, 2022 11:18am

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Kimmy11

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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

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Posted: Wed Jan 5, 2022 11:29am

tebo53

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Posted: Wed Jan 5, 2022 11:29am

Thanks very much Kimmy for that information.

Steve

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Posted: Thu Feb 24, 2022 9:52am

Magicden

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Posted: Thu Feb 24, 2022 9:52am

Kimmy11 wrote on Wed Jan 5, 2022 11:18am:
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.

Read more...

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

Hi just a quick question on the NLV. Do you have to prove you will have the 2300 euro income each month or can you just have savings of say £70, 000 in a bank account.

So if you retired with a poor pension but had enough savings would that be ok.

Thanks

Denis

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Posted: Thu Feb 24, 2022 10:39am

tebo53

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Posted: Thu Feb 24, 2022 10:39am

Magicden wrote on Thu Feb 24, 2022 9:52am:
Hi just a quick question on the NLV. Do you have to prove you will have the 2300 euro income each month or can you just have savings of say £70, 000 in a bank account.
So if you retired with a poor pension but had enough savings would that be ok.

Read more...

Thanks
Denis

It may be enough to have savings plus a smaller income to gain the NLV initially but You have to prove that you can sustain the income requirements over the first 5 year period to achieve full residency otherwise you would break the terms of the NLV.

Have a look at this link:

How to apply for a Non-Lucrative visa (NLV)

Steve

Posted: Thu Feb 24, 2022 12:52pm

Kimmy11

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Posted: Thu Feb 24, 2022 12:52pm

To add to what Steve has said, as IPREM typically increases each year, the amount you need to prove for your 2-year visa renewals, at years 2 and 4, will also increase.

Kind regards,

Kim