Social Security offers targeted help Mitigating the negative effects of inflation and rising rates in thousands of Hispanic families. It is becoming increasingly difficult to cover all expenses and make a living, but government assistance can be very helpful in this regard. This is a 700 euro aid And families in difficult situations And those who need it most can now request it.
What is the content of the 700 euro aid?
Minimum Vital Income (IMV) is intended for citizens who: Having little or no monthly income and its collection is not endless. As stated on the Social Security internet platform, “collection continues as long as the reasons requiring collection continue and the conditions stipulated in the Law are met.” This is a monthly benefit to prevent social exclusion of people who lack basic resources.
Total aid amount is 700 euros
following revaluation Considering the total aid provided in 2024, the amount of IMV has increased significantly, Basic assistance for families at risk of social exclusion. While for someone The income of a minor dependent will be 600 euros per monththese rise to: 784 euros if there are minors responsible. However, in order to benefit from this assistance, you must meet a number of conditions.
Conditions of the 700 euro aid
- Residence in Spain: You must be able to document permanent legal and effective residence in Spain. This is achieved by living in the region continuously for at least one year.
- Economic fragility situation: The average monthly income must be “at least 10 euros lower than the monthly amount guaranteed by the relevant IMV”.
Support compatibility with wallet card
HE Official Government Gazette (BOE) He answered the question about the Wallet card’s compatibility with benefits such as the Minimum Living Income. Article 13 states: “This subsidy is compatible with other subsidies, aid, revenues or resources for the same purposefrom any public or private administration or organisation, national, European Union or international organisation, provided that the aid in question does not cover the same elements of expenditure that justify the application of the subsidy received.”
This means that The wallet card complies with the Minimum Vital Income (IMV), As long as the monthly amount of the card is not more than the guaranteed income of the cohabitation unit.