SMI (Spain's minimum wage)

The SMI (salario mínimo interprofesional) is Spain's legal minimum wage for a full-time job: 1,221 euros per month in 2026 (Royal Decree 126/2026). For the self-employed it mostly works as a reference figure: the flat-rate quota can be extended for 12 more months if your net income stays below the SMI, and income up to the SMI is protected from garnishment.

It is also set per day: 40.70 euros in 2026, under Royal Decree 126/2026. If you are on the flat rate and your net income stays below the SMI, you request the 12-month extension before your first year ends.

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Cese de actividad (self-employed unemployment benefit)

MEI (intergenerational equity mechanism)

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