CONFIRMED: Spain’s new income requirement for digital nomads in 2024
The financial requirements for Spain’s digital nomad visa (DNV) have increased for 2024. Here's what you need to know if you're considering applying this year.
Spain's minimum wage increased this year meaning so too has the financial requirement for the digital nomad visa or DNV. This means anyone applying in 2024 will have to show they earn more than those who applied in 2023.
Spain's DNV is referred to as visado de teletrabajador de carácter internacional on most of the official websites in Spain and became available for the first time at the beginning of 2023.
The UGE (Unidad de Grandes Empresas y Colectivos Estratégicos), the body that deals with these visas and the one you apply to states that you need to prove you have monthly earnings of at least 200 percent of the minimum interprofessional salary (SMI), or minimum wage.
READ ALSO - LISTED: All the documents you need for Spain’s digital nomad visa
In January of this year, Spain’s Labour Ministry announced it would raise the minimum wage in 2024 by €54 per month over 14 payments.
This represents a five percent increase, meaning that the minimum interprofessional wage is now €1,134 gross over 14 payments. This works out to 12 monthly payments and two extra ones, as is the norm in Spain.
In real terms, this means that the minimum wage increase per month for 2024 is €63, and the minimum monthly wage (if seen as 12 payments instead of 14) is €1,323 gross.
READ ALSO: Is Spain's digital nomad visa still worth it?
Two hundred percent of €1,323 equals €2,646, meaning this is now the monthly amount you must earn in order to be eligible for the DNV. This equates to €31,752 per year.
In 2023, the monthly amount you had to earn for the DNV was €2,520 per month or €30,240 per year.
This means that the amounts have also gone up for anyone accompanying you on the visa, such as a partner and children.
If you're applying for yourself and your partner, you will need to prove you earn an extra 75 percent of the minimum wage. This currently equates to an extra €1,984.50 per month on top of the €2,646 just for you, so a total of €4,630.50 per month.
For each additional family member after this, such as children, you will have to prove you have an extra 25 percent of the SMI, which is an extra €661.50 per month.
In total, if you're applying for a family of two adults and two children, you will need to prove you earn a total of €5,953.50 per month or €71,442 per year.
If you're applying as an employee and a remote worker, you should be able to prove your monthly income via your contract, which you will submit along with your application.
If you are self-employed, like many applying for the DNV, it’s likely you won’t have fixed earnings and your income will fluctuate every month. In this case, the authorities will take your average earnings over the last three to six months for example, so you'll have to make sure this average is over the threshold.
Self-employed workers can prove their monthly earnings with several job contracts, invoices, bank statements and tax returns.
Even with the increase to €1,323 per month (over 12 months), Spain’s minimum wage is still considerably lower than France’s (€1,747), Germany’s (€1,997) or Ireland’s (€1,909).
Because of this, Labour Minister Yolanda Díaz says she plans to raise Spain's minimum wage again in 2025.
This means that if the financial requirements are already a stretch for you and you're planning on waiting until next year to apply, you may want to speed up your move, so you don't have to prove you earn more in the future.
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Spain's minimum wage increased this year meaning so too has the financial requirement for the digital nomad visa or DNV. This means anyone applying in 2024 will have to show they earn more than those who applied in 2023.
Spain's DNV is referred to as visado de teletrabajador de carácter internacional on most of the official websites in Spain and became available for the first time at the beginning of 2023.
The UGE (Unidad de Grandes Empresas y Colectivos Estratégicos), the body that deals with these visas and the one you apply to states that you need to prove you have monthly earnings of at least 200 percent of the minimum interprofessional salary (SMI), or minimum wage.
READ ALSO - LISTED: All the documents you need for Spain’s digital nomad visa
In January of this year, Spain’s Labour Ministry announced it would raise the minimum wage in 2024 by €54 per month over 14 payments.
This represents a five percent increase, meaning that the minimum interprofessional wage is now €1,134 gross over 14 payments. This works out to 12 monthly payments and two extra ones, as is the norm in Spain.
In real terms, this means that the minimum wage increase per month for 2024 is €63, and the minimum monthly wage (if seen as 12 payments instead of 14) is €1,323 gross.
READ ALSO: Is Spain's digital nomad visa still worth it?
Two hundred percent of €1,323 equals €2,646, meaning this is now the monthly amount you must earn in order to be eligible for the DNV. This equates to €31,752 per year.
In 2023, the monthly amount you had to earn for the DNV was €2,520 per month or €30,240 per year.
This means that the amounts have also gone up for anyone accompanying you on the visa, such as a partner and children.
If you're applying for yourself and your partner, you will need to prove you earn an extra 75 percent of the minimum wage. This currently equates to an extra €1,984.50 per month on top of the €2,646 just for you, so a total of €4,630.50 per month.
For each additional family member after this, such as children, you will have to prove you have an extra 25 percent of the SMI, which is an extra €661.50 per month.
In total, if you're applying for a family of two adults and two children, you will need to prove you earn a total of €5,953.50 per month or €71,442 per year.
If you're applying as an employee and a remote worker, you should be able to prove your monthly income via your contract, which you will submit along with your application.
If you are self-employed, like many applying for the DNV, it’s likely you won’t have fixed earnings and your income will fluctuate every month. In this case, the authorities will take your average earnings over the last three to six months for example, so you'll have to make sure this average is over the threshold.
Self-employed workers can prove their monthly earnings with several job contracts, invoices, bank statements and tax returns.
Even with the increase to €1,323 per month (over 12 months), Spain’s minimum wage is still considerably lower than France’s (€1,747), Germany’s (€1,997) or Ireland’s (€1,909).
Because of this, Labour Minister Yolanda Díaz says she plans to raise Spain's minimum wage again in 2025.
This means that if the financial requirements are already a stretch for you and you're planning on waiting until next year to apply, you may want to speed up your move, so you don't have to prove you earn more in the future.
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