Cryptocurrency Q&A
How much money do you need in the bank to get residency in Spain?
How much money do you need in the bank to get residency in Spain?
Carolina
Tue Jun 11 2024
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7 answers
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Could you please enlighten me on the financial requirements for obtaining residency in Spain? Specifically, I'm interested in knowing the amount of money one needs to have in their bank account to meet the criteria. Could you provide an estimate or a range of figures that would be sufficient for this purpose? Also, is there a specific type of bank account or financial institution that is preferred by the Spanish authorities for this type of application? I would appreciate it if you could clarify these points for me.
7 answers
Lucia
Wed Jun 12 2024
It is worth noting that the requirement is not merely met by having a lump sum amount in the bank account. Regular income streams or verifiable sources of income are essential to fulfill this criterion.
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Maria
Wed Jun 12 2024
In determining the proof of income required for non-lucrative residency, a crucial aspect lies in the maintenance of sufficient funds in your bank account. This ensures financial stability and meets the residency requirements.
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CryptoTrader
Wed Jun 12 2024
The IPREM, which stands for Indicador Público de Renta de Efectos Multiples, is a key reference point in calculating the necessary income. For the year 2023, the IPREM amounts to €600 per month.
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Isabella
Wed Jun 12 2024
Additionally, it's imperative to keep these funds separate and segregated, as mingling them with other personal funds can lead to confusion and possible complications in the residency application process.
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Claudio
Wed Jun 12 2024
Consequently, individuals seeking non-lucrative residency must demonstrate a regular guaranteed monthly income equivalent to this amount multiplied by four. This translates to a monthly income of €2,400.
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