Increase in Financial Resources for Visas 2023
Financial resources requirements for Spanish visas set to increase by 3.6% in 2023. New NLV applications, GV applications and renewals - increase in financial resources requirements 2023.
IPREM will increase by 3.6% in 2023 in line with the Spanish budget. If you have started the NLV process and plan on attending a Spanish Consulate appointment in 2023, please make sure you have sufficient financial resources to reflect the increase in requirements.
It also applies for those of you who are renewing your NLVs or GVs, not just new visa applications.
For NLVs you will need to prove sufficient financial resources for the 2 year renewal period, not just 1 year. Let’s have a look at the figures.
- Married couple 2022 for a two year renewal it’s €34,741.20 x 2 years so €69,482.40 increasing to €71,983.77 in 2023
- This is an extra €2,501.37 for a married couple or €3,501.91 for a family of four in 2023.
- For a single applicant it will be an increase for 2 year renewal of €2,001.09 in 2023.
Don’t forget you can apply for renewal of your TIE residency card 60 days before it expires so if you haven’t started yet there is still time!
We can help with both visa applications and renewals. Contact us at enquiries@legalservicesinspain.com