How much money do I need to have in my bank account for the Spanish non-lucrative visa? Can I use a pension to prove I have sufficient funds?
If you are planning to obtain a non-lucrative visa and aren’t 100% sure about the sufficient funds part, keep on reading.
Because in this article we will analyze everything related to its financial requirements. We will understand the exact amount that must be demonstrated per year, which are the different ways to prove it, and useful tips that will help you avoid a rejected application.
The non-lucrative residency has become one of the most popular options among citizens from all over the world who wish to start their new life in Spain with their families.
And that is easy to understand, as it is undoubtedly one of the most advantageous residences in the country, since among others:
- It offers a quite straightforward and simple application process
- This application allows the inclusion of children, registered partner or spouse
- And it allows the procurement of citizenship after fulfilling the required residence time (since it can be renewed every 2 years before finally obtaining the long-term residence).
As you may know, one of the main characteristics of this residency is that it does not allow any type of economic activity in the country. That is to say, it is not possible to work as a holder of this permit, neither as an employee for a company nor as a self-employed individual.
Thus, the foreigner who wants to obtain it will have to demonstrate that he has enough money and resources to support himself during the year of residence that this initial card grants in the country.
She won’t be able to carry out any type of activity that generates income, and hence the Spanish Government must then ensure that the applicant will not represent an economic burden for the public system.
This results in the main requirement of the non-profit residency: the need to prove sufficient financial means.
The key indicator to demonstrate the possession of sufficient menas: the "IPREM"
But before looking at the exact amount of money you will need to possess to apply for this visa, we must first understand the meaning of a related important concept.
The IPREM, or “Indicador Público de Renta de Efectos Múltiples” in Spanish, is an amount set by the government which varies every year and that is used as a reference figure for, for example, granting aids or subsidies.
In addition, this IPREM is also used for different immigration procedures, as in the case of this visa.
In order to refer to the amount of money that a foreigner must have to be able to apply for a residence permit X, many times this requirement is constructed based on a percentage of this IPREM.
For example, in order to apply for the non-lucrative, you will have to have the amount fixed by this IPREM multiplied by a specific multiple that we will now see.
In the year 2025, the monthly IPREM is 600€, which is equivalent to an annual 7.200€ (you can see the exact and official amounts for each year here).
However, we must take into account that this number goes up year after year.
Now that we understand the meaning of this indicator we can move on to see what is the multiple over the IPREM used as a requirement in the non-lucrative residency.
But remember that if you have any questions, you can also ask our lawyers anything:
Exact income requirement for the non-lucrative residency
As established in Article 47 of Royal Decree 557/2011, to apply for the non-lucrative residence permit, the applicant must prove sufficient financial means. Specifically, the law requires holding funds equivalent to 400% of the IPREM, which equals €2,400 per month or €28,800 per year.
If family members are included, the applicant must demonstrate an additional 100% of the IPREM (€7,200 annually) for each dependent.
It is important to note that the exact amount and the way to prove it may vary depending on the consulate handling the application. For this reason, checking the specific requirements of your consulate or embassy before applying is essential to avoid delays or rejections
| No. of Applicants | Composition | Initial (1 year) – Formula | Renewal (2 years) – Formula | Initial – Example with IPREM €7,200/year | Renewal – Example with IPREM €7,200/year |
|---|---|---|---|---|---|
| 1 | Main applicant | 400% IPREM | 800% IPREM | €28,800 | €57,600 |
| 2 | Main applicant + 1 dependent | 400% IPREM + 100% IPREM | 800% IPREM + 200% IPREM | €36,000 | €72,000 |
| 3 | Main applicant + 2 dependents | 400% IPREM + 2×100% IPREM | 800% IPREM + 2×200% IPREM | €43,200 | €86,400 |
| 4 | Main applicant + 3 dependents | 400% IPREM + 3×100% IPREM | 800% IPREM + 3×200% IPREM | €50,400 | €100,800 |
| 5 | Main applicant + 4 dependents | 400% IPREM + 4×100% IPREM | 800% IPREM + 4×200% IPREM | €57,600 | €115,200 |
How much money do I need in the bank for Spanish residency?
In order to successfully apply for the non-lucrative visa, you must demonstrate at least 400% of the IPREM on your bank account, which is 2400€ per month or 28800€ per year.
This means that for your initial NLV application, 28800€ must be demonstrated (at least), as the card is valid for one year. But once the renewal time comes, you will have to x2 that amount (as the renewal is for 2 years).
How to demonstrate the possession of your funds?
There are two different options here:
- Either proving that you have sufficient means for the whole period beforehand (for example in a bank account)
- Or by accrediting the existence of any type of source that periodically generates income, such as a pension or the rent of a house you own
But generally speaking, any means of proof that accredits the disposition of the beforementioned funds will be valid.
For example, you could use:
- Bank statements for the last 12 months with details of movements and transactions
- Property deeds
- Certified checks
- Credit cards, as long as they are accompanied by a bank certification that accredits the amount available as credit on the card
Keep in mind that if these funds come from shares or participations of companies located in Spain, a sworn statement must be provided in addition, stating that the applicant does not carry out any type of professional activity whatsoever.
On the other hand, the amount of money to be possessed may be in euros or in any other international foreign currency that can be converted into euros.
And, finally, as a fundamental point, those funds must always be in the name of the main applicant. That is to say, if you are the main applicant, the bank account must be yours and you cannot use that of a family member.
And what happens with the renewal?
So far we have seen the economic requirements to apply for non-profit residency for the first time.
That is, the initial residence authorization.
But, do you have to prove this same amount also when renewing after the first year comes to an end? Or are the initial funds enough?
This is a fundamental point and one that many foreigners do not count on.
While the initial authorization is for one year, the renewal of the non-lucrative one is for two.
Therefore, you will have to demonstrate that you possess twice the amount of economic funds that you had to demonstrate when requesting this residence for the first time in your country of origin.
Other requirements of Non Lucrative Visa
The economic requirement is perhaps the most important one when applying for the non-lucrative visa; but that is not all. There are several other ones you must consider, like:
Private health insurance. You must hold full coverage in Spain with no copayments or waiting periods, valid for the entire duration of the residence permit.
No criminal record. Applicants must not have criminal convictions in Spain or in any country of residence during the past 5 years.
Not be irregular in Spain. The application must be made while holding legal status; overstays or irregular situations are not allowed.
No entry ban in Schengen. The applicant must not appear as inadmissible in Spain or in the Schengen territory.
Medical certificate. Some consulates may require an official certificate confirming that you do not suffer from diseases that could pose a risk to public health.
Valid passport. With at least one year of validity left at the time of application, and enough blank pages for the visa and entry stamps.
Proof of accommodation in Spain. Consulates often request documentation showing where you will live during your stay (rental contract, property deed, or invitation letter).
If you have any doubts or you would like to make an appointment with our immigration lawyers so that they can guide you step by step, do not hesitate to contact us.
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