The Spanish Non-Lucrative Visa and the Portuguese Passive Income Visa are popular choices for individuals seeking residency in Spain and Portugal, respectively. Here’s what you need to know about the differences between the two:
Residency in Spain and Portugal has become an attractive option for many individuals seeking a change of scenery and a new place to call home. Among the various visa options available, two of the most popular choices are the Spanish Non-Lucrative Visa and the Portuguese Passive Income Visa. While both offer a pathway to residency, there are significant differences in their application processes and requirements.
Spanish Non-Lucrative Visa
The Spanish Non-Lucrative Visa is designed for individuals who wish to reside in Spain without engaging in any work or professional activity. The requirements for this visa include:
– Proof of sufficient financial means to support oneself and any dependents.
– A clean criminal record.
– Private medical insurance coverage.
– A fixed address in Spain, although the purchase of property is not mandatory.
The Non-Lucrative Visa is an attractive option for retirees and individuals with the financial means to support themselves.
Portuguese Passive Income Visa
On the other hand, the Portuguese Passive Income Visa, also known as the D7 Visa, is aimed at individuals with regular passive income, such as pensions, rental income, interest income, or dividends, seeking to reside in Portugal. The requirements for this visa include:
– Documentation demonstrating a consistent passive income that meets the Portuguese government’s specified threshold.
– Proof of comprehensive health insurance.
– A clear criminal record.
– Adequate accommodation in Portugal.
Unlike the Spanish Non-Lucrative Visa, the Passive Income Visa in Portugal is specifically tailored for individuals with passive income sources and is well-suited for retirees and those with regular income streams. This visa allows successful applicants to work as soon as their application is approved.
Key Differences
While both visa options provide a pathway to residency in Spain and Portugal respectively, there are notable differences. One significant difference is the focus on passive income for the Portuguese visa compared to the general financial means requirement of the Spanish visa. Additionally, the residency requirements, timelines, and eventual pathways to citizenship differ between the two countries.
Choosing between the Spanish Non-Lucrative Visa and the Portuguese Passive Income Visa depends largely on an individual’s financial situation, lifestyle preferences, and long-term residency and citizenship goals.
Both Spain and Portugal offer attractive residency options for individuals from around the world. Whether it’s the allure of Spanish culture, the Mediterranean lifestyle of Portugal, or the broader opportunities within the EU, each country presents its unique appeal. Choosing the right residency path requires careful consideration of individual circumstances, financial capacity, and long-term goals for residency and potential citizenship.
The above article provides a broad overview of the differences between the ES Non-Lucrative Visa and the PT Passive Income Visa. It is imperative to seek professional advice and assistance in order to determine the best residency option for your needs, as well as your viability for these available options.
For more information on the Spanish Non-Lucrative Visa and the Portuguese Passive Income Visa, or any other available residency and citizenship options, please visit the “Talk to Us” page of our website, HERE.
Here you can connect with us via email for more information, or alternatively, book a refundable consultation with one of our qualified immigration attorneys. This consultation will allow us to fully understand your requirements and viability.
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