For 2025/2026, the minimum income required for a Spain Non-Lucrative Visa (NLV), which is the standard, non-working residency, is approximately €28,800 per year (€2,400 per month) for a single applicant. For each additional family member (dependent), an extra €7,200 per year (€600 per month) is required.
Therefore, as an individual, you will need to have €2,400 as a regular guaranteed monthly income or a yearly income of €28,800. If you have dependants that will move with you to live in Spain, 100% of the IPREM is required for each; this amounts to €600 monthly or its equivalent in foreign currency.
Financial Requirements for Spain's Passive Income Visa
Main applicant: About €2,400 per month (≈ €28,800 per year). Each additional family member (spouse or dependent child): About €600 per month (≈ €7,200 per year).
A salary of €35,000/year is above the national average and can support a comfortable lifestyle in most parts of Spain. In larger, more expensive cities, you may need to budget carefully to account for higher housing and living expenses. In smaller cities, this income offers a very comfortable standard of living.
Unfortunately, the Golden Visa, which granted residency to those who invested €500,000 in property in Spain, ended on 3 April 2025. This route is no longer available to new applicants.
Below, we'll go over some of the nitty-gritty of retiring in Spain, including visa options, healthcare quality, tax obligations, and more. Let's get started! The retirement visa income requirement remains €28,800 (~$31,050) annually, with an extra €7,200 (~$7,763) per dependent.
Can You Get Spanish Residency by Buying a House? Yes, buying a house in Spain can help you obtain residency, although it is not automatic. Minimum investment: €500,000 in real estate. Benefits: Two-year residence permit, renewable as long as the investment is maintained.
Cost of living 💰? Spain wins (9% cheaper!).
Normally, persons who are not U.S. citizens may receive U.S. Social Security benefits while outside the U.S. only if they meet certain requirements. Under the agreement, however, you may receive benefits as long as you reside in Spain regardless of your nationality.
Being Wealthy In Spain–The Top 10%
In 2022, the top 10% of earners brought home pre-tax earnings of €95,000 ($97,000), more than nine times the average for the bottom 50% of earners in Spain. In 2023, the top 10% of earners in Spain brought home a combined total of 34% of Spain's income before taxes, as per Statista.
Financial Independence: Proof of sufficient passive income, such as pensions, rental income, or savings, is essential. Applicants need at least €2,400 per month (400% of IPREM) for a single applicant, or €28,800 annually.
Employment duties must be carried out in Spain, although if they must also perform part of their duties outside of Spain, the percentage of their income earned from these activities must not exceed 15% (or 30%, where the employment activity or duties are undertaken in another firm within the group);
Average income and cost of living in Spain
The average monthly salary in Spain is about €2,250, which may seem modest. However, a single person can comfortably live on just €1,000 per month.
How to get Spanish residency as a non-EU citizen
Portugal, Spain, and Germany are among the easiest countries to live in, offering clear visa options and supportive expat communities. Ireland and Italy are attractive for retirees, while Malta and Greece offer sunny destinations with straightforward residency programs.
Purchase real estate in Spain worth at least €500,000. The investment can be in a single property or a combination of properties (residential, commercial, or land). Invest at least €1 million in Spanish bank deposits, Spanish companies, or investment funds. Invest €2 million in Spanish government bonds.
For example, if you move to Spain and become a tax resident there, your pension is usually taxed under Spanish rules, not UK rules. However, in some cases, the UK may also claim tax on your pension income which could lead to the risk of being taxed twice.
Spain dropped the 90-day rule.
The rule is a European rather than a Spanish regulation. In addition to considering France's proposals, the government has stated that the ruling is unfair and outdated. However, they can only make changes or drop this rule with the agreement of other members of Schengen.
It depends. Italy's richest regions have some of the best healthcare systems in the world. But if you live in the centre-south it would definitely be worse than Spain. The only way to be able to answer that is if you've lived several years in both countries.
The "£97 rule" in Spain refers to a Schengen area entry requirement (now around €118/day or €1,065 minimum) for non-EU citizens, requiring proof of sufficient funds for their stay, though Spanish officials call the media hype a "hoax," stating it's rarely enforced for typical tourists but applies to all Schengen countries, not just Spain, and requires showing funds, accommodation, and return tickets.
Spain's cheapest city to live in
Zamora is followed by Zamora, Oviedo and Cáceres, all with a cost of living between 10% and 12% below the Spanish average. In contrast, the cities where it's currently most expensive to live are Barcelona, Palma de Mallorca, Madrid and San Sebastian.
The cheapest places to buy property in Spain are generally inland regions like Extremadura, Castile-La Mancha, and Castile and León, with towns in Ciudad Real (like Almadén) often topping the charts for lowest price per square meter (around €344/m²), but affordable options also exist on the coasts in Murcia (Costa Cálida) and Almería, especially away from prime tourist spots. You can find properties for tens of thousands of euros in rural areas, but expect to look inland or in less-developed coastal zones for the lowest prices.
Deposit. For a Spanish mortgage, you will generally need a minimum deposit of 30% of the property's purchase price, with borrowing rates currently starting around 2% (lower for premium clients). “The maximum mortgage for non-residents is 70% of the purchase price or valuation, usually depending on which is lower.