Spain is one of Europe's most desirable destinations — sun, food, culture, healthcare, and a cost of living that's gentler than France, the UK, or the Netherlands. But the question everyone asks first is practical: how much money do you actually need?
The answer depends on which visa you use, where in Spain you settle, and how you structure your finances. Here's a realistic breakdown.
Visa Costs
Non-Lucrative Visa (Visado No Lucrativo)
Spain's non-lucrative visa is for people who can support themselves without working in Spain — retirees, people with savings, or those with passive income. You need to demonstrate approximately €2,400/month (400% of Spain's IPREM indicator) for the main applicant, plus roughly €600/month per additional family member. The visa application fee is around €80, but the real cost is proving you have enough funds: either 12 months of income statements or approximately €28,800 in savings.
Key restriction: you cannot work in Spain on this visa. Not remotely, not locally. This is a genuine limitation that catches people off guard.
Digital Nomad Visa (Visado para Teletrabajo)
Spain's digital nomad visa launched in 2023 and requires minimum income of 200% of the minimum wage — approximately €2,520/month. You must work for a non-Spanish employer or be self-employed with non-Spanish clients. Unlike the non-lucrative visa, you can work — but only remotely for foreign entities. Visa fee is approximately €80.
Autónomo (Self-Employed Visa)
If you want to start a business in Spain or freelance for Spanish clients, the autónomo route requires a viable business plan and proof of sufficient funds. Spain's reduced autónomo social security contribution for new registrants is €80/month for the first year (up from the previous flat €60 tarifa plana), rising gradually over subsequent years.
Spain's "Beckham Law" (Régimen de Impatriados) allows new tax residents to pay a flat 24% tax rate on Spanish-source income up to €600,000 for the first 6 tax years. Foreign income (dividends, rental income from abroad, capital gains on non-Spanish assets) is exempt from Spanish tax entirely. This is one of Europe's most generous tax incentives for incoming workers and is available to digital nomad visa holders and employed workers who haven't been Spanish tax residents in the prior 5 years.
First-Year Budget: City by City
Barcelona
One-bedroom apartment: €1,000–1,500/month (expect 2 months' deposit plus agency fee of 1 month's rent upfront — so €3,000–4,500 just to secure housing). Utilities: €100–150/month. Groceries: €250–350/month. Transport: €40/month metro pass. Health insurance: €80–150/month. Total monthly: €1,500–2,200. First-year all-in including move-in costs: approximately €21,000–30,000.
Madrid
Slightly cheaper than Barcelona for rent — one-bedroom apartments run €900–1,400/month in decent areas. Move-in costs are similar. Monthly living: €1,400–2,100. First-year: €19,000–28,000.
Valencia, Málaga, Seville
These cities offer the best value in Spain's major urban areas. One-bedroom rent: €600–900/month. Valencia in particular has surged in expat popularity while remaining 30–40% cheaper than Barcelona. Monthly living: €1,100–1,600. First-year: €15,000–22,000.
Smaller Cities (Alicante, Granada, Bilbao)
Rent drops to €450–700/month. Monthly living: €900–1,300. First-year: €12,000–18,000. These cities offer genuine Spanish life with fewer tourists and a lower price tag.
The Hidden Costs
NIE and empadronamiento: The NIE (foreigners' identity number) costs about €12 but requires an appointment that can take weeks to secure in popular cities. The empadronamiento (municipal registration) is free but requires a rental contract. Both are prerequisites for almost everything: bank accounts, phone contracts, healthcare registration.
Health insurance: Required for visa applications. Private health insurance in Spain runs €80–200/month depending on age and coverage. Once legally resident and working (including as autónomo), you gain access to Spain's public healthcare system, which is excellent.
Gestoría: A gestor is a uniquely Spanish professional who handles bureaucratic paperwork — visa applications, tax filings, social security registration. Budget €200–500 for initial setup help. Most expats consider this money well spent given Spain's administrative complexity.
Total: What You Actually Need
For a single person moving to a mid-range Spanish city on a digital nomad visa: budget €15,000–20,000 for the first year all-in (visa costs, move-in, living expenses for the adjustment period). For Barcelona or Madrid, budget €25,000–35,000. For a family of four in a mid-range city, €30,000–45,000 covers the first year comfortably.
These figures assume you have ongoing income. If you're living on savings alone (non-lucrative visa), multiply the monthly living costs by however many months you want to be comfortable before your next income source kicks in.
Frequently Asked Questions
How much savings do you need to move to Spain?
For Spain's Non-Lucrative Visa, you need to show approximately €28,800/year (~€2,400/month) in passive income or savings. The Digital Nomad Visa requires €2,520+/month in remote income. Initial setup costs (flights, deposit, first months rent, NIE, health insurance) typically run €5,000–10,000.
Is Spain cheaper than Portugal for expats?
It depends on the city. Barcelona and Madrid are more expensive than Lisbon for rent. But smaller Spanish cities (Valencia, Málaga, Seville) can be cheaper than equivalent Portuguese cities. Groceries and dining out are roughly similar. Spain's public healthcare is arguably better, and utilities are comparable. The full comparison depends heavily on where exactly you settle.
Can I work in Spain on the Non-Lucrative Visa?
No. The Non-Lucrative Visa explicitly prohibits working — it's designed for retirees and people living on savings, investments, or pensions. If you need to work, you need either the Digital Nomad Visa (remote work), an employer-sponsored work visa, or the Entrepreneur Visa (self-employment).
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