What are the latest financial requirements for Spain’s Digital Nomad Visa for 2024? I briefly outline the new amounts you need to ensure you can sustain yourself during your stay and contribute to the Spanish economy.

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Are you embracing the new world of the digital nomad?
Are you looking forward to experiencing Spain’s amazing culture while you work?
Then come with me, and find out the latest financial requirements for Spain’s Digital Nomad Visa for 2024.

This is based on Spain’s Minimum Interprofessional Salary, that’s SMI for short, and it’s used to work out how much applicants for the Digital Nomad Visa need to demonstrate they can live comfortably and contribute to the local economy.

You’ll find it’s different from IPREM, which is the amount used to work out the financial requirements for some other Spanish visas, like the Non Lucrative Visa.

I’ll also tell you what other money you can expect to pay out when you’re applying for the Digital Nomad Visa, so you can plan properly and there’ll be no horrible surprises.

So what amount do I need?

The new figure for SMI for 2024 is €1080 per month, and the guidelines say you must demonstrate you have at least 2 to 3 times that amount. 

That’s a range from €2160 to €3240 per month. 

How do you prove this? 

Documents such as Tax Returns, Work Contracts, Payslips, Bank Statements & Business Financial Statements are useful, depending on your circumstances.

What else can I expect to spend to get my Digital Nomad Visa?

There are a few more costs to be aware of, depending on whether you get professional help to make your application or you choose to do it yourself. 

Healthcare cover. 

This is something everyone must have in Spain. 

How much does it cost?

It varies a lot depending on your circumstances and where you’re going to live.

HERE you’ll find contact details for our recommended expert who can help you find the right cover for you. 

There are a few videos and live shows on our YouTube channel to answer all of your questions.

The visa fee. 

This is around €80 at the moment.

Documentation

This includes translations, apostilles, and certificates like criminal records, marriage, birth etc.

Again, it depends very much on your circumstances.

Hiring a professional

This depends entirely on you, but you might want to hire the services of an experienced professional to make sure your application is done properly.

I’ve had two excellent experts on my live shows whom I would highly recommend.

Check out our YouTube channel to find videos of them answering lots of questions about the visa, and to get their contact details. 

Anything else I need to be aware of?

Yes, bear in mind that if your currency isn’t the Euro, the money you’re going to need is dependant on exchange rates. 

So if your employer or customers are in the UK for example, and your monthly income is in pounds sterling, you could find yourself with a much lower or higher income.

In which case, to help you with that, HERE is a link to my recommended currency exchange company below as well. 

It’s a free account and a free advisor, and using that specific link helps YouTooSpain too, at no extra cost to you.

It’s a WIN WIN WIN with a cherry on top!

Any questions?
Put them in the comments below. 

Peace & Love!
Peas & Fluff!
Let’s dance! 

Article by Skatz

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