How Much Should a Digital Nomad Earn

The Digital Nomad Visa is a document that allows professionals from other countries who work remotely to reside in Spain for an extended period. It is essentially equivalent to a residence permit. The right to reside and carry out professional activities is granted for one year. After the visa expires, applicants may request a residence permit in Spain for a period of three years. To qualify for the visa, the applicant must work remotely for a foreign company, have more than 3 years of total professional experience, and earn a gross monthly salary of at least €2,700 (before taxes). Additionally, the applicant must not have any criminal convictions within the past two years.

Required Income to Obtain the Visa

The Salario Mínimo Interprofesional (SMI) is Spain’s minimum interprofessional wage. It is based on the established cost of living and average wage levels. Foreign professionals applying for the visa must have a monthly income that is at least 200% of the SMI. Those with financial dependents must add: 75% of the SMI for the first dependent, and 25% for each additional dependent. As of now, the minimum wage in Spain is €1,323. Therefore, the required income threshold for the visa is €2,646 per month (200% of SMI).

Families with Children

If you are planning to relocate to Spain with your family, the minimum required monthly income should be around €3,970. This includes:

1. 200% of SMI: €2,646
2. +75% for the first family member: €993
3. +25% for the next dependent (e.g., a child): €331

For additional children, 25% of the SMI (€331) should be added per child. If both spouses are working remotely, it is usually advisable to submit the application on behalf of just one spouse. Otherwise, each would have to demonstrate an income of €2,646. In this case, the first child would still count as a 75% addition, and subsequent children as 25% each. It’s also important to note that in Spain, there are 14 salary payments per year—employees receive two extra payments: one during the summer holiday period and another before the Christmas holidays in November. Nonetheless, regardless of this, the applicant must show a monthly income of €2,646.

Impact of SMI Changes on Income Requirements

Due to changes in the SMI (Minimum Interprofessional Wage) in Spain in 2024, the income requirements for foreign professionals applying for a Digital Nomad Visa have also been adjusted:

1. New Minimum Income Requirement. For the current year, the minimum required income is set at 200% of the SMI. Since one SMI equals €1,323, the required monthly income is €2,646 before taxes.
2. Additional Requirements for Digital Nomads with Families. Family members of the main applicant—spouse and underage children—are also eligible to apply for the visa. Their inclusion requires additional income: 75% of the SMI for the first dependent and 25% for each additional dependent.
3. Household Income Calculation. For a family of three (father, mother, and child), the main applicant must demonstrate a monthly income of at least €3,970. This amount includes: €2,646 (200% of SMI), €993 (75% for the spouse), and €331 (25% for the child).
4. Required Documentation. Applicants must submit the following documents for the digital visa: a valid international passport, a completed application form, a recent color photo, a certificate of no criminal record, an employment contract, a document authorizing remote work, and a company registration extract.
5. Tax Obligations. Digital nomads residing in Spain are subject to Spanish tax laws. If their country of origin has a double taxation treaty with Spain, the taxes paid in their home country may be deducted from their Spanish tax liability.

As a result of the updated SMI, applicants are now required to demonstrate a higher income level and must also meet additional requirements if they plan to relocate with family.

Financial Guarantee Obligations

To subsequently convert the digital nomad visa into a residence permit (residency), you will need to open a personal account with a local bank in Spain. To ensure a smooth account opening process, it’s advisable to prepare the necessary documents in advance—such as your tax declaration translated into Spanish or other documentation proving the legality of your funds. Keep in mind that opening a bank account in Spain may require your physical presence, although some banks (like N26, BBVA, etc.) do allow fully online account openings.

Additional Expenses

If your home country does not have a social security agreement with Spain, one of the key requirements for obtaining the Digital Nomad Residence Permit will be to contribute to Spain’s Pension Fund. The contribution in the first year is €80 for the primary applicant and each family member. This payment applies only to self-employed individuals (freelancers) and is necessary to demonstrate your willingness to participate in Spain’s social security system. Payment of contributions to the Spanish Pension Fund offers a number of benefits: eligibility to receive a Spanish pension upon reaching a certain age; guaranteed preservation of your pension savings in the event of relocation to another country; and access to the public healthcare system.

Additional costs

Additional costs associated with obtaining a Digital Nomad visa in Spain include a consular fee of €80 and a fee for obtaining the NIE tax number, which is approximately €10. Other costs for obtaining the Digital Nomad residence permit include a government fee of €73 for processing the applicant’s file and €16 for issuing the physical residence card. Unlike the DN visa, the Digital Nomad residence permit is a full-fledged document that allows foreign professionals to live and work (with certain restrictions) in Spain for a period of three years, with the possibility of extending it for another two years. After five years of residency, you can apply for permanent residency, and after ten years — for citizenship. The application and issuance process for the visa involves certain expenses related to the applicant’s income, payment of government fees, and assistance from certified translators. However, considering the advantages of the visa — such as unlimited residence in Spain, visa-free travel within Europe, and tax benefits — these expenses may be justified. The following requirements should also be taken into account:

1. The applicant must be of legal age;
2. A minimum of three years of experience in the relevant professional field is required;
3. Official employment in the company must be for at least three months. The company itself must have been operating for at least one year;
4. Mandatory documents include proof of income, authorization for remote work, and a detailed resume;
5. All documents must be translated by sworn translators accredited by the Spanish Ministry of Foreign Affairs.

For a personalized cost estimate for the Digital Nomad residence permit, contact El Relocator. The company will help determine all necessary expenses and government fees, and provide specialized legal support. If you want to learn more about the Digital Nomad program, we recommend referring to our Digital Nomad Residence Guide, where we’ve compiled detailed information about obtaining this status.