Spain has just increased its income requirements, but its digital nomad visa still isn’t one of the highest in Europe.
Foreigners in Spain who have a digital nomad visa or are thinking of applying for one this year will be subject to higher income requirements in 2025.
The monthly earning threshold is linked to Spain’s minimum wage – and the government has reached an agreement with the country’s main trade unions to increase this by 4.4 per cent this year.
This raise equates to €50 more per month, taking it up to €1,184 per month across 14 payments (€16,576 gross per year).
To understand how this translates for the digital nomad visa financial requirements, it has to be calculated as 12 payments of €1,381.33 per month.
Digital nomad visa applicants need to demonstrate that their monthly earnings are equal to 200 per cent of the minimum wage.
This means you now need to earn at least €2,762 per month to be eligible for the visa in 2025 – up more than €100 a month from last year.
Despite the increase in income requirements, Spain’s digital nomad visa still isn’t one of the highest in Europe.
Here’s how other European countries compare.
Iceland’s digital nomad visa has the highest income requirements
Iceland’s remote work long-term visa is aimed at high-income individuals earning €7,075 per month, the highest in Europe.
Workers can apply either as employees of a foreign company or as freelancers. The visa lasts for six months, and applicants are considered tax residents during this time.
Estonia comes in second, with applicants of the digital nomad visa requiring a gross monthly income of €4,500 a month. The visa lets people working remotely for companies abroad – or freelancers with clients mostly abroad – stay in Estonia for up to one year at a time.
If you remain in the country for more than six months, you will gain tax residency and be subject to local taxes.
Romania’s digital nomad visa, aimed at non-EU citizens, sets its income requirement at €3,950 per month, which is three times the country’s average gross salary.
In 2023, Romanian president Klaus Iohannis signed a new bill to clarify tax requirements for digital nomads. Those staying for long periods are exempt from paying income tax, social security, and social health insurance contributions.
Finland’s digital nomad visa has the lowest income requirements in Europe
Despite having high living costs, Finland requires digital nomad visa applicants to earn a minimum of just €1,220 per month.
Finland’s self-employment visa is open to non-EU entrepreneurs who are self-employed or run an independent business.
Montenegro’s requirements are also low, at around €1,400 per month. Participants can use the scheme to live in the country for up to four years. Digital nomads are eligible for tax breaks, although details are still to be confirmed.
Digital nomads can apply for an Albanian residence permit that allows them to stay and work in the country for up to one year. Introduced at the start of 2022, the so-called ‘Unique Permit’ can be renewed up to five times in a row.
Remote workers must show proof of an employment contract for a company outside of the country that allows them to work remotely, as well as proof of funds to support themselves of an estimated €9,800 a year.
Read the full article here