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Pillar 04 · Relocation without capital

Passive income & relocation.

No investment threshold. No capital at risk. These routes ask a different question entirely: can you prove a steady income, and are you actually willing to move? Twelve routes across six countries.

Check your eligibility → Book a private consultation
12Routes across six countries
€920Lowest monthly threshold, per month
4With no minimum stay at all
5Years to citizenship in Portugal

The short version

For retirees, remote earners and anyone with income they no longer have to chase.

These are the routes for people whose money already works: pensions, rental income, dividends, remote earnings. Instead of a capital threshold, the test is a monthly income figure and a savings buffer, and instead of an investment you commit something less liquid: your time.

That is the honest trade. Portugal’s D7 and D8 both require you to become tax resident: 183 days a year, genuinely living there. In return you reach citizenship in five years, which no golden visa on our residency page achieves faster. Spain’s non-lucrative visa and Italy’s elective residency go further and prohibit you from working locally at all.

The opposite pole is Hungary, Malta, Spain’s extended residency and France’s talent permit, where no minimum stay applies and Hungary’s structure actively rewards staying under 183 days. Deciding which pole you are at is the whole decision. Everything else is paperwork.

Work out your threshold

The Portugal D7 calculator.

Portugal publishes its D7 formula precisely, so it can be calculated exactly: a base figure, plus 50% for a spouse, plus 30% for each child, and a savings buffer worth twelve months of the total.

Main applicantBase requirement, €920 per month 1
Spouse or partnerAdds 50% (€460 per month)
Dependent childrenAdds 30% each (€276 per month) 0

€920per month, minimum passive income

This is the income you must evidence as arriving regularly, typically across twelve to twenty-four months of bank statements.

Annual income required€11,040
Savings buffer in a Portuguese account€11,040

Portugal publishes the buffer as at least twelve months of the required minimum income: €11,040 for a single applicant and €16,560 for a couple. Figures are the published minimums and are indicative; consulates may ask for more, and we confirm current requirements in writing before you file.

All twelve, side by side

Compare the routes.

The column that matters most is the stay requirement. Filter by what you are actually prepared to commit.

Show
Passive income and relocation routes compared by income threshold, permit term, stay requirement and outcome
Country & route Income required Permit term Stay requirement Leads to
PortugalD7 Visa (Passive Income) €920 / monthsingle applicant, scaling by family size 2 years, renewable Must become tax resident, 183+ days per year Citizenship in 5 years, after permanent residency
PortugalDigital Nomad Visa (D8) €3,680 / monthminimum monthly income 2 years, renewable Must become tax resident, 183+ days per year Citizenship in 5 years, after permanent residency
SpainStandard Residency (Non-Lucrative Visa) €2,406 / monthminimum monthly income 1 year, renewable Must not work in Spain (passive income only) Permanent residency in 5 years
SpainExtended Residency €2,762 / monthminimum monthly income 3 years, renewable No stipulated stay requirement Permanent residency in 5 years
SpainPassive Income via Investment €150,000 investmentcapital returned in 4 years Residency within 90 days Not stipulated 2-year citizenship path for Ibero-American nationals
HungaryPassive Income Residency €3,000 / monthminimum monthly income 1 year, renewable None, though under 183 days per year to avoid local income tax Renewable residency
ItalyElective Residency €2,700 / monthminimum monthly income 1 year, renewable Must not work in Italy (passive income only) Permanent residency in 5 years
MaltaPassive Income Residency €3,500 / monthminimum monthly income 1 year, renewable None Renewable residency
FrancePassive Income Visa €1,800 / monthvaries by family size (lowest threshold on this page) Long-stay visa, renewable as a multi-year card Must not work in France (passive income only) Foundation toward long-term residency
FranceCompany Creation Varies (viable business plan required)no fixed threshold published 4-year multi-year residence permit Must actively manage the company Pathway to permanent residency
FranceStartup / Innovative Project Varies (French Tech approval required)no fixed threshold published 4-year multi-year residence permit Must actively develop the project Pathway to permanent residency
FranceTalent Residence Permit Varies by talent categoryno fixed threshold published 4-year multi-year residence permit None (no minimum stay) Pathway to permanent residency and citizenship

These routes cost less money and more life. Decide whether you are genuinely moving before you decide where.

Guiding principle · NIMARIA, since 1998 Integrity · Personalisation · Efficiency · Ethics

Country by country

The six countries in detail.

Full terms, benefits and family eligibility for every route. Jump to the country you are weighing, or read straight through.

Portugal

2 routes

Two routes with the same destination and different income tests. Both require you to genuinely move (Portugal expects tax residence, not a holiday home) and both reach citizenship in five years.

D7 Visa (Passive Income)

EU / SchengenCitizenship in 5 yearsTax residence required

The classic retirement and passive-income route, built around pension, rental or dividend income.

Income required
€920 / monthsingle applicant, scaling by family size
Permit term
2 years, renewablebefore renewal
Leads to
Citizenship in 5 years, after permanent residencysubject to legal requirements
Family
3 of 5relative categories eligible

Stay requirement Must become tax resident, 183+ days per year

Key benefits

Residence permit
Issued for two years and renewable.
Full EU residency rights
Relocation to the European Union with the rights that carry.
Schengen travel
Visa-free movement throughout the Schengen Area.
Pathway to citizenship
Citizenship in five years, following permanent residency.

Who you can include

Spouse Eligible Spouse or partner of any age.
Children Eligible Dependent children under 18, and adult children who are single, financially dependent and enrolled in a recognised educational institution. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify. If not included in the initial application, children over 18 may only be sponsored after the main applicant has held Portuguese residence for two years.
Parents Eligible Parents of any age who are financially dependent on the main applicant.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.

Digital Nomad Visa (D8)

EU / SchengenCitizenship in 5 yearsFor remote earners

The same framework as the D7 at a higher income threshold, aimed at people earning remotely from foreign employers or clients.

Income required
€3,680 / monthminimum monthly income
Permit term
2 years, renewablebefore renewal
Leads to
Citizenship in 5 years, after permanent residencysubject to legal requirements
Family
3 of 5relative categories eligible

Stay requirement Must become tax resident, 183+ days per year

Key benefits

Equivalent to the D7
The same benefits as the D7 visa at a higher income threshold.
Schengen travel
Visa-free movement throughout the Schengen Area.
Pathway to citizenship
Citizenship in five years, following permanent residency.

Who you can include

Spouse Eligible Spouse or partner of any age.
Children Eligible Dependent children under 18, and adult children who are single, financially dependent and enrolled in a recognised educational institution. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify. If not included in the initial application, children over 18 may only be sponsored after the main applicant has held Portuguese residence for two years.
Parents Eligible Parents of any age who are financially dependent on the main applicant.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for Portugal →

Spain

3 routes

Three routes with markedly different characters: a strict non-lucrative visa, a longer permit with the widest family reach on this page, and a fast-track investment route where the capital comes back.

Standard Residency (Non-Lucrative Visa)

EU / SchengenPassive income only

Spain’s long-standing non-lucrative route. You may live there; you may not work there.

Income required
€2,406 / monthminimum monthly income
Permit term
1 year, renewablebefore renewal
Leads to
Permanent residency in 5 yearssubject to legal requirements
Family
3 of 5relative categories eligible

Stay requirement Must not work in Spain (passive income only)

Key benefits

Residence permit
Issued for one year and renewable.
Full EU residency rights
Relocation to the European Union.
Schengen travel
Visa-free movement throughout the Schengen Area.
Permanent residency
Available after five years.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Eligible Parents of any age who are financially dependent on the main applicant.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.

Extended Residency

EU / SchengenNo minimum stayWidest family reach

A three-year permit with no stipulated stay requirement, and the only route here that accepts grandparents and siblings.

Income required
€2,762 / monthminimum monthly income
Permit term
3 years, renewablebefore renewal
Leads to
Permanent residency in 5 yearssubject to legal requirements
Family
5 of 5relative categories eligible

Stay requirement No stipulated stay requirement

Key benefits

Three-year permit
Issued for three years and renewable, removing annual renewals.
Permanent residency
Available after five years.
Widest family definition
The only route on this page accepting financially dependent grandparents and siblings of any age.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Eligible Parents of any age who are financially dependent on the main applicant.
Grandparents Eligible Grandparents of any age who are financially dependent on the main applicant.
Siblings Eligible Siblings of any age who are financially dependent on the main applicant.

Passive Income via Investment

Fast-trackCapital returned

A structured investment producing an income stream, with residency in ninety days and the capital returned after four years.

Income required
€150,000 investmentcapital returned in 4 years
Permit term
Residency within 90 daysbefore renewal
Leads to
2-year citizenship path for Ibero-American nationalssubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement Not stipulated

Key benefits

Fast-track residency
Residency granted within ninety days.
Capital return
The invested capital is returned after four years.
Citizenship path
A two-year citizenship path applies to Ibero-American nationals.
Structured income
Provides a structured passive income stream.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for Spain →

Hungary

1 route

The mirror image of Portugal: here you are expected to stay under 183 days, not over it, and no local income tax follows.

Passive Income Residency

EU / SchengenNo minimum stayTax advantage

A renewable one-year permit with no residency requirement, structured so that staying under the tax threshold is the point.

Income required
€3,000 / monthminimum monthly income
Permit term
1 year, renewablebefore renewal
Leads to
Renewable residencysubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement None, though under 183 days per year to avoid local income tax

Key benefits

Residence permit
Issued for one year and renewable.
Schengen access
Visa-free entry to the Schengen Area.
Tax benefit
No income tax where fewer than 183 days per year are spent in Hungary.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for Hungary →

Italy

1 route

The Elective Residency visa is Italy’s route for people living on income they already have. Working in Italy is not permitted under it.

Elective Residency

EU / SchengenPassive income only

For those relocating on pension, rental or investment income rather than employment.

Income required
€2,700 / monthminimum monthly income
Permit term
1 year, renewablebefore renewal
Leads to
Permanent residency in 5 yearssubject to legal requirements
Family
3 of 5relative categories eligible

Stay requirement Must not work in Italy (passive income only)

Key benefits

Residence permit
Issued for one year and renewable.
Schengen access
Visa-free entry to the Schengen Area.
Permanent residency
Available after five years.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Eligible Parents of any age who are financially dependent on the main applicant.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for Italy →

Malta

1 route

No stay requirement at all, and the most explicit tax treatment on this page: nothing for the first twelve months, then a flat ten per cent.

Passive Income Residency

EU / SchengenNo minimum stay10% tax rate

A renewable one-year permit with a defined tax regime and English as an official language.

Income required
€3,500 / monthminimum monthly income
Permit term
1 year, renewablebefore renewal
Leads to
Renewable residencysubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement None

Key benefits

Residence permit
Issued for one year and renewable.
Schengen access
Visa-free entry to the Schengen Area.
Tax benefit
No income tax for the first twelve months, then 10% thereafter.
Healthcare and education
Access to high-quality healthcare and education.

Who you can include

Spouse Eligible Spouse or partner of any age.
Children Eligible Children under 18 who are dependent on the main applicant. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for Malta →

France

4 routes

Four routes covering the full range: living on existing income, creating a company, developing a startup, or qualifying on talent. The last three carry a four-year permit.

Passive Income Visa

EU / SchengenPassive income only

A long-stay visa for those living on income from outside France.

Income required
€1,800 / monthvaries by family size (lowest threshold on this page)
Permit term
Long-stay visa, renewable as a multi-year cardbefore renewal
Leads to
Foundation toward long-term residencysubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement Must not work in France (passive income only)

Key benefits

Long-stay visa
Renewable as a multi-year residence card.
Healthcare and education
Access to French healthcare and education.
Foundation
A foundation toward long-term residency.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Dependent minor children under 18. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible. Parents are not automatically included and would require separate legal grounds for residence.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.

Company Creation

EU / Schengen4-year permitWork permitted

For founders establishing and running a French company on a viable business plan.

Income required
Varies (viable business plan required)no fixed threshold published
Permit term
4-year multi-year residence permitbefore renewal
Leads to
Pathway to permanent residencysubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement Must actively manage the company

Key benefits

Four-year permit
A multi-year residence permit valid for four years.
Right to operate
The right to create and operate a company in France.
Pathway to PR
A route through to permanent residency.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Dependent minor children under 18. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible. Parents are not automatically included and would require separate legal grounds for residence.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.

Startup / Innovative Project

EU / Schengen4-year permitFrench Tech approval

For innovative projects carrying French Tech approval, with access to EU funding.

Income required
Varies (French Tech approval required)no fixed threshold published
Permit term
4-year multi-year residence permitbefore renewal
Leads to
Pathway to permanent residencysubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement Must actively develop the project

Key benefits

Four-year permit
A multi-year residence permit valid for four years.
Ecosystem access
Access to France’s startup ecosystem and to EU funding.
Pathway to PR
A route through to permanent residency.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Dependent minor children under 18. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible. Parents are not automatically included and would require separate legal grounds for residence.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.

Talent Residence Permit

EU / SchengenNo minimum stayWork permitted

A four-year permit with no minimum stay and full working rights, assessed on talent category.

Income required
Varies by talent categoryno fixed threshold published
Permit term
4-year multi-year residence permitbefore renewal
Leads to
Pathway to permanent residency and citizenshipsubject to legal requirements
Family
2 of 5relative categories eligible

Stay requirement None (no minimum stay)

Key benefits

Four-year permit
A multi-year residence permit valid for four years.
Right to work
Full working rights in France.
Pathway to citizenship
A route through to permanent residency and citizenship.

Who you can include

Spouse Eligible Legally married spouse of any age.
Children Eligible Dependent minor children under 18. Children of any age living with a physical or mental disability and fully supported by the main applicant also qualify.
Parents Not eligible Not eligible. Parents are not automatically included and would require separate legal grounds for residence.
Grandparents Not eligible Not eligible.
Siblings Not eligible Not eligible.
Check eligibility for France →

How a relocation file runs

Five stages, in order.

01

Income & intent

Testing your income against the household threshold, and establishing how much time you are genuinely prepared to spend in the country.

02

Country selection

Matching that answer to a route (tax residence and citizenship at one pole, no minimum stay at the other) with tax exposure checked alongside.

03

Evidence & banking

Assembling twelve to twenty-four months of statements, opening the local account where required, and placing the savings buffer.

04

Consular filing

Long-stay visa application at the consulate in your country of residence, with accommodation, insurance and background documentation.

05

Arrival & renewals

Residence card collected in country, then tracking renewals and the qualifying period towards permanent residency or citizenship.

Common questions

Asked before every engagement.

Regular, provable income you do not have to work for: pensions, annuities, rental income, dividends, interest and, on some routes, royalties. Consulates want to see it arriving consistently over time rather than as a lump sum, which is why bank statements going back twelve to twenty-four months matter more than a single balance.

On several, no, and it is a hard condition, not a formality. Spain’s non-lucrative visa, Italy’s elective residency and France’s passive income visa all prohibit working in the country. Portugal’s D8 exists precisely for people earning remotely from foreign clients, and France’s company, startup and talent routes permit work outright.

It depends, and the answer splits this page in half. Portugal’s D7 and D8 require you to become tax resident, spending 183 or more days a year there. Hungary, Malta, Spain’s extended residency and France’s talent permit impose no stay requirement at all. Those are two entirely different propositions.

Because they are structured for opposite intentions. Portugal wants you resident and taxes you accordingly, with citizenship at the end of five years. Hungary’s route is built so that staying under 183 days keeps you outside local income tax, useful for a European base, not a route to a Hungarian passport. Neither is better; they answer different questions.

Per household, and it scales. Portugal’s D7 is the clearest published example: €920 a month for a single applicant, plus 50% for a spouse and 30% for each child, together with a savings buffer equal to twelve months of the total. The calculator above works it out. Other countries scale similarly but publish less precisely.

Consulates want evidence you can absorb a bad year without becoming a burden. For Portugal’s D7 that means twelve months of the required minimum income held in a Portuguese bank account (at least €11,040 for a single applicant, or €16,560 for a couple) on top of the ongoing income itself.

Spain’s extended residency, and by a distance. It is the only route on this page accepting financially dependent grandparents and siblings of any age. Portugal, Spain’s non-lucrative visa and Italy accept parents; Malta, Hungary, France and Spain’s investment route accept only a spouse and minor children.

Not usually, but the answer depends on your nationality, where your income arises and which treaties apply. Malta publishes a defined regime (nothing for twelve months, then 10%) and Hungary’s route turns on the 183-day line. We are not tax advisers, and on these routes more than any others we would ask you to take specialist advice before committing.

Take the first step

Tell us where you want your family to be in five years.

Start with the free preliminary assessment, or book a private thirty-minute consultation. Both are confidential, and neither commits you to anything.

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