Which European countries have passive income visas?

Passive income visas, also known as non-lucrative residence or rentier visas, are programs designed to attract individuals with sufficient financial resources to support themselves without needing to work in the destination country. 

These visas have gained popularity in recent years due to their flexibility and the rights they usually grant, making Europe a particularly attractive region for people seeking quality of life, stability and access to top-level services.

What are passive income visas?

The concept behind these visas is to allow foreigners to reside in a European country, provided they can demonstrate regular income or sufficient assets to cover their expenses without relying on local employment. 

These incomes can come from pensions, real estate income, dividends, savings, investments, or any other legitimate source of stable funds. 

The essence of these visas lies in their non-lucrative nature; that is, beneficiaries are not allowed to work or carry out economic activities in the country of residence, although they can manage international businesses or investments.

What rights do they grant me?

In general, passive income visas offer the following key rights to holders:

1. Legal residence: Beneficiaries obtain the right to reside in the country for the duration of the visa, which is usually one to two years, renewable.
2. Access to public services: Holders can benefit from essential public services such as education and healthcare, although in some cases private health insurance is required.
3. Free movement: In most cases, visas allow free movement within the Schengen Area, which represents a significant advantage for those who value mobility within Europe.
4. Family reunification: Some visas allow the inclusion of close relatives such as spouses and dependent children, facilitating joint migration.

European countries that offer passive income visas

In Europe, several countries have implemented passive income visa programs. Among the most prominent are Portugal, Spain, Greece, Italy, France, and Malta. 

Each country has specific requirements, but they all share the goal of attracting foreign residents with proven financial resources.

Next, we will detail the cases of Portugal and Spain, and how AIM Global can advise you on obtaining these visas.

Portugal: Visa D7
Portugal's D7 visa is one of the most recognized passive income programs in Europe. This program is designed to attract both retirees and individuals with passive income from foreign sources.

• Requirements: The applicant must demonstrate regular income exceeding one Portuguese minimum wage (approximately €820 per month), plus 0,5 Portuguese minimum wages for a second adult (approximately €410 per month). Having a residence in Portugal, either owned or rented, and health insurance are also mandatory.
• Benefits: The D7 visa allows legal residence in Portugal, access to the public healthcare system, and free travel within the Schengen Area. Furthermore, holders can apply for permanent residency after five years and eventually obtain Portuguese citizenship.

Spain: Non-lucrative residence visa
Spain offers a similar program known as a non-lucrative residence visa. This scheme is especially attractive to retirees and people with independent incomes who are looking to settle in a country with a high quality of life.

• Requirements: Applicants must demonstrate financial resources of at least €28.000 in the last 12 months for the main applicant. They must also have private health insurance and a residence in Spain.
• Benefits: Like the D7 visa, this visa allows legal residence and movement within the Schengen Area. After five years, holders can apply for permanent residency, and after ten years, for Spanish citizenship, although for Latin Americans this period is shortened to two years of legal residence in the country.

At AIM Global, we help you retire in Europe

Passive income visas in Europe offer an ideal solution for those seeking to reside in countries with high standards of living without needing to work locally. 

Portugal and Spain stand out for the competitiveness of their programs, offering opportunities for both retirees and individuals with independent incomes: as Yahoo Life points out , “you don’t need to be retired or a senior citizen to get one.” You simply need to meet the requirements set by local laws.

At AIM Global, we have a team of professionals ready to help you find the best option for you. Schedule a meeting today.