New Income Requirements for Digital Nomads

The financial prerequisites for Spain's Digital Nomad Visa (DNV) have been revised upwards for the year 2024. If you're contemplating applying for this visa this year, here's what you should be aware of:

The minimum wage in Spain has been raised this year, resulting in an increase in the financial requirement for the Digital Nomad Visa (DNV). Applicants in 2024 are now required to demonstrate a higher income compared to those who applied in 2023.

Officially known as the “visado de teletrabajador de carácter internacional” on most Spanish government websites, the DNV was introduced at the beginning of 2023.

The Unidad de Grandes Empresas y Colectivos Estratégicos (UGE), the authority responsible for processing these visas, stipulates that applicants must show a monthly income equivalent to at least 200 percent of the minimum interprofessional salary (SMI), or minimum wage.

In January of this year, Spain’s Labour Ministry announced a €54 per month increase in the minimum wage for 2024, spread over 14 payments. This translates to a five percent increase, making the minimum interprofessional wage €1,134 gross over 14 payments, as is customary in Spain.

Consequently, the minimum monthly wage for 2024 stands at €1,323 gross if considered over 12 payments. To be eligible for the DNV, applicants must now earn €2,646 per month or €31,752 annually, up from €2,520 per month or €30,240 annually in 2023.

These financial thresholds also apply to accompanying family members, such as partners and children. For instance, if applying for a couple, an additional 75 percent of the minimum wage must be demonstrated, amounting to €1,984.50 per month on top of the main applicant’s income.

Each additional family member requires proof of an extra 25 percent of the SMI, equivalent to €661.50 per month. For a family of two adults and two children, the total required monthly income is €5,953.50 or €71,442 annually.

Employees and remote workers can provide proof of their monthly income through their employment contracts, which should be submitted with the visa application. However, self-employed individuals, who constitute a significant portion of DNV applicants, may not have fixed earnings. In such cases, authorities will consider the average earnings over the previous three to six months to ensure they meet the threshold.

Self-employed applicants can substantiate their monthly earnings with multiple job contracts, invoices, bank statements, and tax returns.

Despite the increase to €1,323 per month, Spain’s minimum wage remains lower than that of several other European countries, such as France (€1,747), Germany (€1,997), or Ireland (€1,909).

Due to this disparity, Labour Minister Yolanda Díaz has indicated plans to further raise Spain’s minimum wage in 2025.

If the financial requirements for the DNV are already challenging for you and you intend to delay your application until next year, it might be advisable to expedite your relocation to avoid having to meet even higher income criteria in the future.