How much do you need to have in the bank to live in Spain

Considering relocating to Spain? Whether it's for a short-term stay or a long-term move, understanding the financial requirents is essential. Spain offers various visa options catering to different purposes and lengths of stay. Among these, the non-lucrative residence visa is particularly suitable for individuals planning to live in Spain without engaging in any work or professional activity.

Non-Lucrative Residence Visa:

The non-lucrative residence visa is designed for individuals seeking to reside in Spain for more than 90 days without undertaking any work or business activities. This visa is ideal for retirees, freelancers, remote workers, and individuals with sufficient financial ans to support themselves and their families during their stay in Spain.

Financial Requirents:

To qualify for the non-lucrative residence visa, applicants must demonstrate they have stable financial resources to cover their living expenses in Spain. While there is no fixed amount stipulated by law, applicants are typically required to provide evidence of consistent inco or sufficient savings to support themselves without relying on Spanish public funds.

The exact amount of funds required may vary depending on individual circumstances and the region of Spain where the applicant intends to reside. as a general guideline, applicants are advised to have a minimum monthly inco equivalent to the Spanish minimum wage (currently around €1,050 per month) multiplied by the number of months they plan to stay in Spain. Alternatively, applicants can demonstrate they have sufficient savings or investnts to cover their expenses for the duration of their stay.

Docuntary Evidence:

When applying for the non-lucrative residence visa, applicants must submit docuntary evidence to prove their financial stability. This may include:

Bank Statements: Recent bank statements showing regular income deposits or a substantial savings balance.

Pension Statements: If applicable, documentation verifying pension payments or retirement benefits. 

Investment Portfolio: Statements confirming investments, stocks, or bonds that generate passive income.

Property Ownership: Proof of property ownership or rental income if the applicant owns real estate in Spain or elsewhere.

Insurance Coverage: Health insurance with full coverage in Spain for the duration of the stay.

It's essential to ensure all docunts are current, translated into Spanish (if not originally in Spanish), and legalized as required by Spanish authorities.

Living in Spain can be a fulfilling experience, but it's crucial to understand and fulfill the financial requirents for residency. The non-lucrative residence visa offers a viable option for individuals wishing to reside in Spain without working. By demonstrating sufficient financial ans to support themselves, applicants can embark on their Spanish adventure with confidence and peace of mind. Make sure to consult with the Spanish consulate or embassy in r country for the most up-to-date information and guidance regarding visa requirents and application procedures.