When applying for Spanish residency in any shape or form, whether it’s as a European citizen at your local Foreigner’s Office or as a third country national applying for a visa from your country of origin, you will need to prove that you can economically support yourself and your family.
What is IPREM?
Spanish Immigration uses a calculation based on a system called IPREM, literally “the Public Multiple Effects Income Indicator” or Indicador Público de Renta de Efectos Múltiples in Spanish.
The IPREM figure is reviewed annually and has only increased twice in the last 10 years, with 2021 seeing the first rise since 2017.
For 2021, IPREM is:
- IPREM Mensual: €564.90 (monthly minimum income)
- IPREM Annual: – 12 pagas: €6,778.80 (annual minimum income, paid in 12 payments)
As well as being used for Immigration purposes, IPREM is used in Spain as a reference for granting various public funds and benefits including scholarships, housing, school, nursery, social benefits, unemployment payments etc.
How does IPREM relate to a visa or residency application?
Suppose you’re applying for residency as an EU citizen. In that case, the general rule is that you have to prove you can economically support yourself with 100% IPREM (some regions like Alicante request more) with a percentage calculation applied to beneficiaries. This article has more information about the income requirements for an EU residency application
For third country national visa applications, for example a non-lucrative (retirement) visa, you need to demonstrate proof of 400% IPREM with a 100% extra per beneficiary (spouse, child etc), so for 2021, here’s an example:
Main applicant: 400% IPREM = €2,259.60 p/month or €27,115.20 lump sum for 1 year
Beneficiary 1: + 100% IPREM = +€2,824.50 p/month or €33,894 lump sum for 1 year
This IPREM rate applies to all types of residency applications in Spain that require proof of economic stability.
To find out more about applying for residency in Spain, whether as an EU citizen or third country national, Book a Call on our website and we’ll be happy to help.