Retirement is a stage in life where financial stability and quality of life become top priorities. For many, especially from the United States, Europe has become an attractive destination for retirement, thanks to its residency programs for individuals with passive income.
Countries such as Portugal, Spain, Greece, Malta, and Cyprus offer accessible options for those who wish to enjoy a relaxed lifestyle in culturally rich environments with access to excellent healthcare services. Below, we analyze the most attractive European destinations for retiring with passive income.
Portugal: The Most Affordable Option
Portugal is one of the most accessible European countries for North American retirees, thanks to its D7 visa program, also known as the «passive income visa.» To qualify, applicants must demonstrate a monthly income of at least €1,200 (approximately $1,260), although approval is at the discretion of the authorities.
This program is ideal for retirees receiving pensions or investment income, as it grants a two-year residence permit with an option for indefinite renewal. Moreover, after five years, applicants can apply for Portuguese citizenship, which provides full access to the European Union.
Portugal stands out for its mild climate, affordable cost of living, and a vibrant expat community.
Spain: The Most Popular Destination for Americans
Spain is the most popular retirement destination in Europe, with more than 41,000 U.S. citizens residing there. Its Non-Lucrative Visa (NLV) is an excellent option for retirees, as it allows residency with the only requirement of demonstrating passive income of at least €2,400 per month, plus €600 for each dependent.
One of the main advantages of Spain is its flexibility in the application process, as it allows applicants to apply for the visa while already in the country. However, residents under this visa are not allowed to work.
Spain offers an excellent quality of life, access to one of the best healthcare infrastructures in Europe, top-tier gastronomy, and a Mediterranean climate ideal for retirees.
Greece: Mediterranean Beauty with Investment Options
Greece offers the Financially Independent Person (FIP) Visa, designed for those who can demonstrate a passive income of at least €3,500 per month. Although the income requirement is higher than in Portugal and Spain, the cost of living in many regions of Greece remains relatively affordable.
Additionally, Greece provides the option of the Golden Visa, which allows residency through real estate investments starting at €400,000 in most of the country or €800,000 in more exclusive areas. This visa does not require a minimum stay in the country, making it particularly attractive for U.S. citizens who wish to maintain their tax residency elsewhere.
Malta: A Wealth-Based Residency Destination
Unlike other European countries, Malta does not base its residency program on monthly income but rather on net worth. To qualify under the Ordinary Residence Scheme, applicants must demonstrate a minimum net worth of €14,000 (approximately $14,700) for a single person or €23,000 ($24,000) for a couple.
Malta is an excellent choice for those seeking an English-speaking destination with access to the European Union. However, one of the requirements is to spend at least 183 days per year in the country, which implies becoming a tax resident. Its Mediterranean location, cosmopolitan environment, and tax benefits make Malta an attractive option for retirees looking for financial stability and EU mobility.
Cyprus: Flexible Options for Retirees
Cyprus offers two main residency options for retirees. In Northern Cyprus, which is not part of the EU, any real estate purchase grants automatic residency to the buyer and their family. In Southern Cyprus, which is an EU member, applicants can opt for the Category F Visa, which requires a bank deposit of €9,000 and the purchase or rental of a home.
The income requirement is relatively low, with an estimated threshold of €1,000 per month. Additionally, residents only need to visit the country once every two years to maintain their status. Cyprus is an attractive destination due to its warm climate, relaxed atmosphere, and competitive cost of living compared to other European countries.
AIM Global Assists You with Your Passive Income Visa
For those looking to retire in Europe, there are several attractive options that allow securing residency through passive income.
- Portugal and Spain are the most affordable choices.
- Greece and Malta offer additional benefits for those who meet higher financial requirements.
- Cyprus provides a flexible alternative with a low cost of living.
Whatever your situation, AIM Global is here to help you find the most suitable option for your investment profile.
Schedule a free consultation today and start turning your retirement plans into reality!
