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

In calculating the proof of income for non-lucrative residency, you must have an annual income of 400% of IPREM in your bank account. The IPREM for 2023 is €600 per month. Therefore, as an individual, you will need to have €2,400 as a regular guaranteed monthly income or a yearly income of €28,800.



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To be eligible to travel to Spain you must have a specific minimum amount of money. According to the European Commission, you need to attest owning the overall amount for duration up to 10 days that is representative of a 90% of the gross national minimum wage (636.93 €) that is 573.23€.

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Italy vs Spain: cost To stretch your travel budget, Spain is typically slightly more affordable than Italy, even in expensive cities like Madrid.

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Is €1,000 enough to live in Spain per month? Yes, it is possible to live in Spain with 1,000 euros a month, as the minimum wage is 1,080 euros. However, the freedom and comfort you will have with around 1,000 euros a month will depend on the city you will live in.

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Considering the average cost of living in Spain, a good monthly net salary for a comfortable life in Spain is €2,700 for a single person or €4,000 for someone supporting their family.

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Can You Move to Spain Without a Job? The short answer is yes, there are definitely ways to move to Spain without a job. That being said, there are a lot of criteria that you need to hit to be eligible. Of course, as it always does with moving abroad, it comes down to which visas you're eligible for.

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Visa to reside in Spain without carrying out any gainful (work or professional) activity, provided that the applicant has sufficient and guaranteed means to live on. This visa does not constitute a work permit.

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You can stay in Spain for a maximum of 183 days per year (6 months) in order to not become a resident. If you spend an extra day (184 days and onwards), you will be regarded as a resident, hence paying resident taxes in the country.

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€100 per day is still not a huge amount but you can probably get by on it. You should perhaps read up on free stuff to do during the day and not plan on paying to go inside too many tourist attractions.

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