Are you financially ready to move to Spain now?

Key rules

• Go or wait: Go only if your liquid funds beat your first-year number, clear your visa floor and cover the gap until income starts.
• Visa floor: The funds minimum is tied to IPREM, which changes every year, so get the current figure from the consulate.
• Tied-up money: Funds that are locked or cannot yet be transferred do not count toward your readiness.

The short answer

Go if your savings clear all three tests below. Wait if any one fails. Use the calculator below to compare your savings with your first-year number.

The three tests

1. Your savings beat your first-year number. Count only money you can reach and move: liquid funds, not money tied up in a house, a locked account or a transfer that has not cleared. The first-year number normally covers:

• Before you arrive: visa and document fees, translations, apostilles, flights and shipping.
• Moving in: rental deposit (usually one to two months, often plus an extra guarantee and an agency fee), furniture and utilities set-up.
• Living costs: rent, food, utilities, transport and phone.
• Taxes and official fees: the residency card fee and income tax. If you buy, add transfer tax and notary costs.
• Insurance: private health insurance if required, plus home and other cover.
• A reserve for emergencies.

2. Your savings clear the legal floor for your visa. This applies to non-EU citizens. The floor is tied to IPREM, a public indicator that is reset every year.

• Non-lucrative visa: 400% of IPREM a year for you, plus 100% for each dependant. With the 2025 IPREM of 7,200 euros a year, that was 28,800 euros for you and 7,200 for each dependant.
• Digital nomad visa: a monthly income of 200% of the minimum wage for you, plus 75% for the first dependant and 25% for each extra one. Signed income contracts count as proof.

Ask the consulate for this year's IPREM before you rely on a total. Being just above the minimum is not enough, because you still need money for the first-year costs. Borrowed money may not count as proof of funds, so check before you plan around a loan.

If you are an EU/EEA citizen, no fixed euro amount is set. If you will not be working, you must show enough resources and health cover to register. Offices often look at a level near IPREM, and it varies by provincial office. Workers and the self-employed show a contract or proof of self-employment instead.

3. Your money lasts until your income starts. 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. A new employee needs social security registration and a bank account with an NIE first, which can push the first payday later. A new autónomo often waits 1 to 3 months for the first client payments, because invoices are paid in 30 to 60 days. Contributions are due from the start. The reduced flat rate was 80 euros a month for the first 12 months in 2025. It is for people who have not been an autónomo in the previous 2 years. Ask the Seguridad Social for the current amounts.

Keep a reserve

After setup costs, you should still hold 3 to 6 months of essential expenses. Hold 6 to 12 months if your income is irregular, you are self-employed or you have dependants. Never run your funds to zero. Keep enough for emergencies and a return trip.

If your savings fall short

Your options are in the decision block below. In short: delay and save, cut costs, ask your employer or family for help, or phase the move. Credit is fast but expensive, and non-residents struggle to get Spanish credit. If you phase the move, confirm the visa and tax residency consequences first, including the 183-day rule.

Choosing between options

Should you go now or wait and close the gap first?

• Go now: Your liquid funds exceed the full first-year cost figure, clear the legal funds amount for your visa, leave an emergency reserve of 3 to 6 months after setup costs, and income starts soon or your funds cover the whole gap until it does.

• Delay the move and save more: Any of those tests fails, for example your funds are tied up, not yet transferable, or only just meet the legal minimum. It is the safest option, but a visa or job offer may lapse.

• Cut costs: The gap is small and you can choose a cheaper region or smaller town, share a home, buy used furniture and ship less.

• Ask your employer or family for help: You can negotiate a relocation allowance, signing bonus or salary advance before accepting, or family can give or lend money on clear terms.

• Phase the move: One person goes first or you take a short-term rental, while keeping your home job or home; this means double housing costs, and the 183-day tax rule and visa conditions must be respected.

Go only if all four tests pass: funds above the first-year number, funds above the legal visa floor, the reserve intact, and income starting soon or the gap covered. If any fails, wait or use one of the other options.

Timeline and deadlines

• Add up your first-year costs and compare them with your liquid funds: before you decide to move

• Register your residence if you are an EU/EEA citizen: if you stay more than three months

• Pay the reduced flat rate of 80 euros a month as a new autónomo: for the first 12 months, extendable for 12 more months if net income stays below the minimum wage

• Delay the move and save more if your funds fall short: before you commit to a lease or visa date

Documents you need

• Bank statements, savings certificates or pension proof showing you meet the visa funds amount (non-EU applicants for the non-lucrative or digital nomad visa).

• Signed income contracts, accepted as proof of income for the digital nomad visa.

• Employment contract or proof of self-employment, if you are an EU/EEA worker or self-employed person registering your residence.

• Bank statements or a pension certificate showing sufficient resources, if you are an EU/EEA citizen who is not working.

• Health insurance, private or public (for example through an S1 form), for EU/EEA citizens who are not working.

• Your passport, the EX-18 form and proof of payment of the tasa 790 code 012 fee, for EU/EEA registration at the Oficina de Extranjería or a police station.

Checklist

• Work out the legal funds amount for your visa: 400% of IPREM a year for the non-lucrative visa, plus 100% for each dependent.

• Check that your funds can be shown on bank statements or savings certificates, and are not tied up or untransferable.

• Check whether you can use the autónomo reduced flat rate: you must not have been an autónomo in the previous 2 years.

• If your funds fall short, pick one of the shortfall options and confirm visa and tax residency consequences before a phased move.

• Keep a reserve for emergencies and a return trip, and do not run your funds to zero.

Do your savings cover your first-year number?

Work it out

What you enter

• Your first-year cash figure (EUR): Add up your pre-arrival, move-in, living, tax, insurance and reserve costs.
• Savings in bank accounts and deposits (EUR): Your bank app or latest statement. Reachable in 1 to 5 working days by international transfer.
• Listed shares and funds you would sell (EUR): Your broker account. Selling and settling takes 1 to 3 days, then 2 to 5 days to transfer.
• Pension money you can take out now without penalty (EUR): Your pension provider. Enter 0 if it is locked until retirement age.
• Expected proceeds from a home sale (EUR): Your sale contract or agent estimate, after the mortgage and costs. Proceeds can take weeks or months.
• Conversion cost of your transfer, as a percentage (%): Your bank or transfer provider's quote. Banks often cost 2 to 5 percent, specialist providers 0.3 to 1.5 percent. Enter 0 if you are already in euros.
• Your monthly living costs in Spain (EUR): Your own budget: rent, food, utilities, transport, phone and insurance.
• Months between arrival and your first income (months): Your start date or expected first invoice payment.

Figures used

• Minimum months of costs to cover without income: 3 months (as of 2026)

Worked example (with Your first-year cash figure 30,000 EUR, Savings in bank accounts and deposits 15,000 EUR, Listed shares and funds you would sell 8,000 EUR, Pension money you can take out now without penalty 0 EUR, Expected proceeds from a home sale 0 EUR, Conversion cost of your transfer, as a percentage 1 %, Your monthly living costs in Spain 2,000 EUR, Months between arrival and your first income 2 months)

When the sum misleads

• If the shortfall before income starts is above 0, wait or bring more cash that can arrive quickly, even if your total savings cover the year.
• Home sale money and locked pension money can arrive late, so do not count them toward the early months.
• Allow extra days for a first large transfer, because banks run checks. SWIFT transfers take 1 to 5 business days, and euro transfers within SEPA usually arrive the same or next business day.
• If you are self-employed, expect 1 to 3 months before client payments arrive, and you pay social security contributions from the start. Use a longer income wait.

Frequently asked questions

How much money does a non-EU applicant need to show for the non-lucrative visa?

You need to show 400% of IPREM per year for the main applicant and 100% of IPREM for each dependent. IPREM is the public indicator Spain sets yearly; in 2025 it gave about 28,800 euros for you and 7,200 for each dependent. Bank statements, savings certificates and pension proof are accepted.

Do EU citizens have to show money to register in Spain?

Yes, EU citizens who are not working must show enough resources and health cover when registering a stay of over three months. No fixed euro amount is set, but offices usually look at a level near IPREM, and more for family members.

Does the autónomo reduced flat rate help my first-year budget?

Yes, new autónomos paid a reduced flat rate of 80 euros a month for the first 12 months in 2023 to 2025.

Can I borrow money to cover a shortfall before moving?

Yes, you can use family help or credit, but both carry costs. Family help needs clear terms, and credit is expensive and leaves you in debt in a new country. For visa funds, borrowed money may not count, so check with the consulate before relying on it.