Applying for Residency in Spain in 2024 : EU Citizen without an employment contract

If you are an EU Citizen without an employment contract, applying for residency in Spain in 2024, you will almost certainly fall into one of the following categories:

  1. You plan to start a business in Spain
  2. You have sufficient funds to cover the cost of living in Spain
  3. You are retired
  4. You are a student

The regulations for residency application in Spain changed back in 2012. The change in procedures means that people who apply for residency need to be able to prove that they will not “become a burden on Spain’s social assistance during their period of residence”. Consequently, the ability to prove financial stability and healthcare cover is very important for a successful residency application. As always, we recommend checking procedures in your area.

The paperwork for applying for Residency in Spain in 2024 : 

  1. Complete the  EX18: Spanish Residency Application form.
  2. Original and copy of applicant’s valid (ie not expired) passport or National Identity card. If this document has expired, a copy of the expired document and proof of renewal will be required.
  3. Bank receipt to declare Spanish Residency Application taxes paid, Modelo 790 (currently 12€). If you are unable to complete this online via the link, you will be issued a document at the police station.
  4. Proof of full healthcare coverage in Spain. Request a quote here: REQUEST NOW 
  5. PLUS Further documentation subject to your personal situation, as below …

Tips relating to the aforementioned scenarios:

1. You plan to start a business in Spain

The order in which you apply for NIE, residency, and the business setup depends on the type of company you decide is best for you. We recommend speaking to a qualified assessor before making this decision. We have worked with Costa Gestion for many years and can recommend their services.

Starting a Business in Spain: Setting up an SL

2. You have “sufficient funds” to support yourself in Spain

This is possibly the most challenging and complicated situation to find yourself in when applying for residency in Spain in 2022. Despite all the information provided on websites and from official sources, it is almost impossible to have a 100% correct answer to the question:

“How much money is required to display you have “sufficient funds to support yourself in Spain?”

According to law 240/2007 : “each applicant should have:

“recursos suficientes para no convertirse en una carga para la asistencia social en España durante su período de residencia

which translates as

“sufficient resources not to become a burden for social assistance in Spain during his period of residence”.

In the Malaga/Costa del Sol area, we have heard of required MINIMUM amounts that have varied in past years from 5000€ to 7000€ for the main applicant.

Some sources state this figure is based on the IPREM which stands for “Public Multiple Effects Income Indicator” used by the Spanish Government for various financial calculations.

IPREM in 2023 is: 

  • Monthly IPREM: €600.00
  • Annual IPREM: €7,200.00 (made in 12 payments)

This table was supplied to us by local, trusted lawyers back in 2021:

funds for residency 2021

So, based on the above, if you are applying for residency in Spain in 2024 we recommend proving:

  • A regular monthly income of at least €600 OR a lump sum/savings of at least €7500 in a Spanish bank account
  • All financial proof needs to be in Spanish and stamped by the issuing Spanish bank
  • In some instances, authorities require at least 3 months of bank statements.
  • If you have a fixed deposit in a Spanish bank of approx 36.000€ (ie. 5 times annual IPREM for the 5 years of your residency)  that was deposited less than 3 months ago, then a  Balance Certificate may be accepted.
  • It simply depends on who is behind the desk when you submit your application. Your documentation is your ammunition …
  • EXTRA FUNDS are required if you are applying for dependents such as spouse and/or children.

3. You are retired

It’s relatively easy for EU/EEA nationals to retire to Spain, as you won’t need a visa or residence permit to live in the country. Pensioners need to present the following documents to the authorities to prove funds:

  • A bank statement with evidence that it is your account and the account movements for the last three months.
  • Your average account balance (saldo medio in Spanish) for the past three months.
  • Your last official confirmation of the pension you are entitled to.
  • Proof of total healthcare cover from your home country.

The pension and bank statements will need to show your personal information (such as name, address, or identification number and they will have to be officially translated into Spanish by an officially recognised translator).


 4. You are a student

If the Applicant is a Student, there are two possibilities:

  1. A course registration document, proof of private health insurance or the EHIC that covers the intended period of residence and a “declaration of sufficient funds”.
  2. Proof of participation in an inter-EU educational exchange programme.

Options available as “declaration of sufficient funds”:

  • 6 months of bank statements (originals and stamped by the bank) showing at least a monthly amount of the 100% IPREM (600 euros/month), unless proven that the accommodation has been paid in advance for the entire duration of the stay, or;
  • Letter from the centre covering all the costs of accommodation and meals.
  • Proof of scholarship for the specified time.
  • Notarised document of the applicant’s parents assuming all the costs associated with the stay and studies in Spain.

If you are moving to Malaga in 2024 and would like to know how we can help you enjoy a successful relocation, visit our relocation page

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