Hello there, I'm interested in relocating to Spain, and I'm curious about the financial aspect of it. Could you please tell me, how much money should I aim to have in my bank account before making the move? I understand that living expenses and the cost of living vary depending on various factors, but a general estimate would be really helpful. Would it differ depending on the city I choose to settle in? And, do I need to factor in any additional costs or taxes that might apply to foreigners? I'm just trying to get a sense of the financial picture before I start planning my relocation. Thank you for your help!
7 answers
Eleonora
Wed Jun 12 2024
Additionally, a regular monthly income of at least €600 is necessary. This ensures that the applicant has a sustainable source of income, capable of supporting their financial needs.
EtherealVoyager
Wed Jun 12 2024
The Spanish bank account serves as a crucial aspect in satisfying financial requirements. It ensures that all transactions and statements are in Spanish, reflecting the local context.
Valentino
Wed Jun 12 2024
The authenticity of these financial proofs is further strengthened by the stamp of the issuing Spanish bank. This stamp serves as a verification of the documents' legitimacy and authenticity.
Tommaso
Wed Jun 12 2024
Authorities often demand a minimum of three months' worth of bank statements. This requirement allows them to assess the stability and regularity of the applicant's financial situation.
DaeguDivaDance
Tue Jun 11 2024
Alternatively, a lump sum or savings of at least €7500 can also fulfill the financial requirement. This option provides flexibility to those who may not have a regular monthly income but possess significant savings.