The Spanish Royal Decree Law 20/2020 of 29 May 2020, granted a subsistence benefit called “Ingreso Mínimo Vital” (IMV) as an income aimed at preventing the risk of poverty and social exclusion of people living alone or included in a dwelling unit, when they are in a situation of vulnerability, because of the lack of sufficient economic resources to cover their basic needs.
This assistance consists of an economic benefit, to be determined, which will be effective on a monthly basis in the terms set out in this royal decree-law. The amount of the income will go from 462€ to 1.015€ per household, and will depend on the income each family has, so that the State can contribute the amount necessary to reach the guaranteed minimum. That is, the benefit is not a fixed amount, but rather, the calculation is made depending on each person or family. This benefit is not transferable and will last as long as the situation of economic vulnerability persists, and the requirements to obtain the right to its application are maintained.
The requirements to receive the benefit include:
- to be 23 to 65 years old (or 18 years old when looking after a minor).
- to live legally and uninterruptedly in Spain for at least one year prior to the application, except for the cases of victims of gender violence or victims of traffic of human beings and sexual exploitation.
- for applicants who live alone, not included in a dwelling unit, it is required to have lived independently of parents for at least three years prior to the application. Also, it is considered that a person is living alone when they are sharing a home with people other than their spouse, domestic partner, or relatives up to the second degree.
- to be in a situation of economic vulnerability in the terms provided in the Royal Decree.
- the applicant’s net worth will be verified, after deducting debts and not considering their habitual residence. The limit of the accepted worth increases depending on the number of people in the dwelling unit: from 16,614€ for a person living alone; it will increase for each additional member up to a maximum of 43,296€.
- to have applied for the pensions and benefits to which they may be entitled.
- to be registered as job applicants.
- people who are receiving unemployment benefits can also apply for this income to complete the amount of the guaranteed income. The IMV is compatible with subsidies and also with work.
If you require assistance to help you with a specific case, please don’t hesitate to get back to us. Suárez de Vivero attorneys are available to assist you with these and other workplace issues. For more information, visit https://suarezdevivero.com/
For more information please contact Joseph Granato, Communications Manager at L&E Global at email@example.com.