
IPREM has increased in 2023.
What is it, how much does it increase and how does it affect residence permits?
The Spanish Government´s Budget for 2023 includes a new increase in IPREM index.
The Government sets the new maximum income limit to be eligible for subsidies and public aid for needy incomes.
What is the IPREM?
The "Indicador Público de Renta de Efectos Múltiples" (IPREM) is an index used in Spain as a reference for the granting of aid, subsidies or unemployment benefits. It was created in 2004 to replace the Minimum Interprofessional Wage as a reference for these subsidies.
In this way, the IPREM grew at a slower rate than the SMI, facilitating access to aid for the most disadvantaged family economies, while the SMI was restricted to the labor market.
How much does its value increase im 2023?
The IPREM has been increased a 3.6% for 2023.
Applications for residence permits will be affected by this increase.
In immigration law, the IPREM is used as an index to calculate the economic means that will be necessary to provide at the time of sending the application to demonstrate that we can support ourselves.
For some in Spain it is necessary to demonstrate the 100% of the IMPREM; in other cases a 150% of the IPREM and in others; as in the Non-Profit Residence permit, the 400% of the IPREM.
a) For the student permits, for example, 100% of the IPREM must be demonstrated.
Therefore, during this year 2023, every student should prove that they have, at least, 7,200 euros available on their accounts.
b) The other important case is the Non Lucrative Residence permit.
Fot this kind of residence permit is necessary to demonstrate 400% of the IPREM (for 12 months) which in 2022 was 27,792.96 € and for 2023 it will be 28,200 euros.
Visal Immigration is an expert firm in the processing of all types of residence and nationality permits and our lawyers will be happy to answer all your questions and help you to obtain the necessary documents so that the application has the best guarantees of success.
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