One of the most important requirements when applying for a Spanish visa from India is showing proof of sufficient funds. Messing this up is also the number one reason why most visa applications get rejected. Which is why it's important to know the exact financial requirements for the Spanish visa you're applying for as an Indian.
For short-stay Schengen visas, the requirement is pretty straightforward. You need to show that you have at least €122 per person per day, with a minimum of €1,099 regardless of the duration of your stay.
These documents are required across most Spain visa categories. Where things get a little tricky for Indian applicants is with National visas. Unlike Schengen visas, there is less flexibility here, and the exact figures vary depending on the visa category. We'll get into those in detail below.
To qualify for the DNV, you need to show a monthly income of at least 200% of Spain's national minimum wage, which is equivalent to roughly €2,849 per month or €34,188 per year. This is the baseline for a solo applicant.
If you're bringing family members along:
You can prove this income using work contracts, bank statements, payslips, or any other credible financial evidence.
The NLV is designed for people who want to live in Spain without working there, so naturally, Spain wants to see that you can sustain yourself financially. The minimum amount required is 400% of Spain's IPREM* (Public Multiple Effects Income Indicator), equivalent to €28,800, which needs to cover your living expenses for the first 12 months of your stay. If you have dependents joining you, add 100% of the IPREM for each family member in your care. You must also submit a cover letter explaining all your financial documents in detail.
*IPREM figures are reviewed annually; verify current rates before applying.
Before you apply for a Student Visa, you need to demonstrate that you can financially support yourself for the duration of your studies, or at least your first year. This is a fixed requirement, and Indian students are sometimes caught off guard by it, especially if they are counting on part-time work income from day one to cover their costs.
The specific financial requirements are a bit more layered, especially if a sponsor (like a parent) is funding your stay. The minimum amounts are:
If you've already paid for your accommodation in advance for the entire duration of your stay, that amount can be deducted from the required funds. So keep proof of that payment handy.
There is no separate personal savings threshold for this visa. The financial requirement is met through your employment contract, which confirms your salary and the terms of your engagement. So, you just need to have enough to cover daily expenses during your stay. This amount is set at €122 per person, per day for the duration of your trip, and a minimum of €1,099, even if you're going for just a few days.
In this visa, the financial burden falls on the sponsor in Spain (the family member already residing there), not the applicant travelling from India. They must demonstrate a stable monthly income of approximately €1,200-€1,500+ net, depending on family size. They should not rely on public funds to support the reunited family and have adequate housing with enough space for all. There's no fixed savings amount required, but financial stability and consistency matter more than a lump sum.
This visa has a clear salary threshold based on your role:
Your job offer or employment contract must reflect these figures to qualify. If the offer you've received is substantially below that range, your employer may be looking at a different visa category.
If you're being transferred to a Spanish branch of your company, your salary must meet at least the Spanish minimum wage and be in line with local market rates. Since your employer (the home company) covers costs, there's no personal savings requirement on your end.
For those planning to work independently in Spain, you'll need to make a convincing financial case through your business plan. Freelancers should show projected monthly earnings of at least €1,500-€2,000+.
Self-employed individuals need a business plan that demonstrates economic benefit to Spain and long-term financial sustainability. You are advised to show savings of around €8,000-€10,000+ to cover your initial months while your business gets off the ground.
