Funding the move

It is for anyone considering, planning or carrying out a move to Spain. By the end, you will know how to fund the move, how much savings to commit and whether to go now or wait.

Start with "Ways to fund your move to Spain". It compares the main funding sources, so you can see which ones fit your situation. Then read these in the order that suits you:

• "How much of your savings to commit to the move" helps you decide how much to use and how much to hold back.
• "What to ask your employer to cover when relocating to Spain" shows how a relocation package can cut the cash you need.
• "Are you financially ready to move to Spain now?" helps you compare your savings with your first-year number.
• "Which costs to pay from home funds and which after arrival" splits your costs between what you pay before leaving and what you pay from Spanish funds.

Sending money abroad, borrowing and credit history, tax on selling assets, and trial stays are covered in other Topics.

Key rules

• Cash at signing: Expect to pay about 2 to 4 months of rent in cash when you sign a lease, including a one-month fianza and often an extra guarantee of up to two months.
• Reserve size: Keep an emergency reserve of 3 to 6 months of essential expenses, or 6 to 12 months if your income is irregular, you are self-employed or you have dependants.
• Wait for first pay: Plan for at least 2 to 3 months of costs without income, since a first salary usually arrives 4 to 8 weeks after you start.
• Gift return: File the gift tax return within 30 working days of receiving a family gift.
• Home sale: Expect about 2 to 4 months from accepting an offer to receiving the money.
• Order: Set your visa funds, upfront costs and reserve before you commit any cash.

Funding the move: the whole process, step by step

• Choose your funding sources (Ways to fund your move to Spain): As soon as you decide to move, and before you commit any money

• Start moving money that is slow to release: a home sale takes about 2 to 4 months from accepting an offer to receiving proceeds, and pension access may not be possible early: Months before the move

• Ask your employer what relocation support they will cover, and get any repayment terms in writing (What to ask your employer to cover when relocating to Spain): Before you accept the job offer

• If family is helping with a gift, agree the terms and the paperwork; the recipient files the gift tax return within 30 working days of the gift: Before the money is sent Deadline: 30 working days after the gift.

• Work out how much to commit and how much to hold back as a reserve of 3 to 6 months of essential expenses, or 6 to 12 months if your income is irregular, you are self-employed or you have dependants (How much of your savings to commit to the move): After you total your deposits, setup and move costs

• Convert to euros the costs due within about 6 to 12 months, and decide whether to hedge or convert later funds in tranches: Before the costs fall due

• Pay costs from home funds, such as visa and document fees, translations, apostilles, flights and shipping (Which costs to pay from home funds and which after arrival): Before departure

• Compare your savings with your first-year number and decide whether to go or wait (Are you financially ready to move to Spain now?): Before you book the move or sign anything binding

• If funds fall short, delay, cut costs, ask for employer help, take family help or phase the move: If your savings are below the first-year number

• Pay move-in cash from Spanish funds: expect 2 to 4 months of rent in cash at signing, including a one-month fianza and often an extra guarantee of up to two months: When you sign the lease

• Pay the residence fee for your TIE or EU registration, and set up utilities: Within the first month after arrival

• Live on savings until first pay: plan for at least 2 to 3 months of costs without income, since a first salary usually arrives 4 to 8 weeks after you start: First 2 to 3 months in Spain

Documents you may need

Identity and residence

• NIE (foreigner identification number) and residence permit — Ways to fund your move to Spain
• Your passport — Are you financially ready to move to Spain now?

Income and work

• Bank statements
• Employment contract from a Spanish employer — Ways to fund your move to Spain
• Gift tax filing — Ways to fund your move to Spain
• Written proof that your employer transferred you to a different workplace — What to ask your employer to cover when relocating to Spain
• Your employment contract or relocation agreement — What to ask your employer to cover when relocating to Spain
• Employment contract or proof of self-employment — Are you financially ready to move to Spain now?

The home and the lease

• Lease contract that states the one-month fianza and any extra guarantee or aval — How much of your savings to commit to the move

Payments and receipts

• Receipts and invoices for each moving and travel cost you want reimbursed — What to ask your employer to cover when relocating to Spain

Guarantees

• Health insurance — Are you financially ready to move to Spain now?

Other documents

• Criminal-record certificate from the country that issues it — Which costs to pay from home funds and which after arrival

Each article lists the other documents it asks for, where you need them.

Funding the move: questions that cross several articles

Can money in my pension or investments be used for the move quickly?

Bank savings and listed shares can usually reach you in about 1 to 5 days, but pensions are often locked until retirement age. Early pension withdrawals can carry tax and penalties at home, and a home sale takes months. Read Ways to fund your move to Spain, then How much of your savings to commit to the move.

Does money I must show for a visa count as money I can spend?

Money you show as proof of funds for a non-EU visa is meant to stay as your savings, so plan your spending on top of it. For 2025 the non-lucrative visa needed about 28,800 euros for the main applicant and 7,200 for each dependent. Read Are you financially ready to move to Spain now? and How much of your savings to commit to the move.

How much cash do I need on the day I sign a rental lease?

Expect to pay 2 to 4 months of rent in cash at signing, including a one-month fianza and often an extra guarantee of up to two months. Busy markets such as Málaga and Palma often ask for the higher end.

Which costs make up my first-year figure?

The first-year figure covers pre-arrival costs, move-in costs, living costs, taxes and official fees, insurance and a contingency reserve. Add them all before you compare with savings. Read Are you financially ready to move to Spain now? and Which costs to pay from home funds and which after arrival.