Updated on January 24, 2025
Residence permit for financially independent people
People with sufficient financial savings can obtain a residence permit in another country by proving passive income from abroad.
Residents can relocate, create a safe haven, and access healthcare and education. Permits in a Schengen country allows visa-free travel within the Schengen Area.
The process is similar across countries, but requirements, procedures, and timelines vary.
Choose an option to learn more
Who are considered financially independent people?
Financially independent people, FIPs, have sufficient wealth or income to cover living expenses without relying on external support such as salaries, family assistance, or government benefits. Their income may come from investments, rental properties, or businesses.
Some countries issue visas equivalent to temporary residence permits specifically designed for FIPs. In Europe, these countries include Portugal, Austria, Switzerland, Spain, France, Greece, Ireland, and Italy. Mexico, Argentina, Chile, Costa Rica, and Uruguay offer similar visas in South America.
Temporary residence permits for financially independent individuals are granted for at least one year and often lead to permanent residence or citizenship.
Residence permits for financially independent people in Europe
Portugal D7 Visa
The Portugal D7 Visa, also called the Passive Income Visa, is initially granted for 2 years and can be extended for 3 years. After this period, visa holders may apply for permanent residence or citizenship.
To maintain residency, an individual must spend at least 16 months within the two years.
€870+
Monthly income
6+ months
Acquisition period
Austria Residence Permit
Applicants must demonstrate stable monthly income of at least €2,436 from sources outside Austria as well as basic German proficiency at the A1 level.
Austria allocates approximately 450 residence permits annually, with one quota per family member. Applications are typically submitted early in the year and filled quickly.
The initial residence permit is valid for one year and can be renewed. To maintain the status, an individual must live in Austria for at least 183 days per year.
€2,436+
Monthly income
3+ months
Acquisition period
Switzerland Residence Permit
The lump-sum tax for a Switzerland residence permit varies by canton and family expenses but typically starts at ₣450,000 per year.
Residency is available in most parts of the country except Zurich, Appenzell-Ausserrhoden, Basel-Stadt, Basel-Land, and Schaffhausen.
The residence permit is valid for one year, can be renewed annually, and requires staying in Switzerland for at least 183 days per year.
₣450,000+ per year
Lump-sum tax
3+ months
Acquisition period
Spain’s No Lucrativa Visa is for financially independent individuals with income from passive sources like investments or pensions. Applicants cannot work or run a business in Spain.
At least €28,800 per year for the main applicant and €7,200 per dependent is required to qualify for the visa. Applicants must also prove long-term accommodation, either rented or purchased.
The visa is issued for one year initially and can be renewed in two-year increments. After five years, holders may apply for permanent residence and, after another five, for citizenship, which requires renouncing other nationalities.
France Visitor Visa, or VLS-TS Visiteur, is a long-term visa for financially independent individuals who wish to live in France without working.
Applicants must show €1,800 per month in passive or remote income and a bank deposit of at least €30,000 in a foreign account, as well as arrange suitable housing.
The visa is valid for up to one year and can be renewed annually. After five years of living at least 183 days per year in France, holders may apply for permanent residency or citizenship.
How to become a French resident →
Italy’s Residenza Elettiva Visa is for financially independent individuals who do not intend to work or run a business in Italy.
At least €31,160 per annum from investments, dividends, or rentals is required. This amount doubles for each additional family member. Applicants must secure housing, though no minimum cost is specified.
The visa provides residency for one year, renewable annually. After five years, holders may apply for permanent residency, and after an additional five years, for citizenship.
Greece issues visas to financially independent individuals, both retires and non-retires.
The income required is at least €2,000 per month. The amount increases by 20% for a spouse and 15% for each child included in the application.
Retirees may also qualify if they receive a pension from a Greek Primary Insurance Agency, regardless of the amount.
The residence permit is valid for two years and can be renewed indefinitely for the same period. After five years, holders may apply for permanent residence and for citizenship after an additional two years.
How to obtain a Greece residence permit →
Ireland’s Stamp 0 Retirement Permission is for financially independent individuals, whether retired or not.
An annual income of €50,000 is required. Applicants must have a lump sum sufficient to cover unexpected major expenses. While the lump sum is not set, it could correspond, for instance, to the cost of a residential property in Ireland.
The permission is valid for one year and can be renewed indefinitely. After five years, holders may apply for citizenship if they meet residency requirements.
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Residence permits for FIP in other countries
Argentina offers two residency programs for financially independent individuals. The Pensionado residency is for retirees receiving a regular pension from abroad, while the Rentista residency is for non-retirees with passive income from investments, rentals, or dividends.
Around $1,325 of a monthly income, which is five Minimum Vital and Mobile Salaries, must be shown by applicants seeking residency under both programs
The permit is valid for one year and can be renewed indefinitely. Foreigners may apply for Argentine citizenship after two years of residency.
Costa Rica offers two types of residence permits: Rentista and Pensionado.
Applicants must have at least $2,500 per month for the next two years or or deposit $60,000 in a Costa Rican bank, distributed in monthly instalments of $2,500 over two years to qualify for the Rentista permit.
An income or pension of $1,000+ per month is required to obtain the Pensionado permit.
Both permits are valid for two years and can be renewed for another two years. After three years with a temporary permit, applicants may seek permanent residence. Citizenship is available after seven years of living in Costa Rica.
Mexico offers temporary and permanent residence for financially independent individuals. Required sums depend on the chosen status.
Applicants must have a bank balance of ≈ $73,230 or a monthly income of ≈ $4,400, after taxes to be eligible for temporary residence.
A balance of ≈ $250,000, or a monthly income of ≈ $6,150, after taxes, is required to obtain permanent residence.
Citizenship is available after five years of continuous living in Mexico.
Chile offers two residency programs: Rentista for individuals with income from property leasing or financial assets and Pensionado for retirees with pensions.
Around $1,000–1,500 per month is required, though no exact amount is specified.
Residence permits are valid for up to two years and can be renewed indefinitely. After two years, holders may apply for permanent residence, and citizenship becomes available three years later.
Uruguay offers permanent residence to financially independent individuals with regular passive income from pensions or other earnings abroad.
At least $1,500 per month is required to be eligible.
Permanent residence is granted once and is valid for life. Citizenship is available after three years for married couples and five years for single individuals.
Mauritius grants residence permits to individuals over 50 with a regular income
At least $1,500 per month or funds of at least $18,000 per year from their country of origin or residence is required.
The permit is valid for ten years and can be renewed for the same duration. After three years of continuous residence, holders may apply for permanent residence, valid for 20 years.
The Philippines offers the Special Resident Retiree’s Visa for financially independent individuals over 50. The visa allows indefinite stay, but is a non-immigrant one.
Applicants must deposit $20,000 if they do not have a pension.
A deposit of $10,000 and a retirement income of $800 per month is required from people with pensions. Additional $1,000 is paid, if applying with dependents.
The SRRV is valid for life and does not require renewal.
Saudi Arabia’s Premium Residency program offers temporary and permanent residence to financially solvent individuals.
Temporary residency requires SAR 100,000, ≈ $26,600 annually, with a 2% yearly reduction if applied for multiple years.
A one-time payment of SAR 800,000, ≈ $213,000 is needed to obtain permanent residency.
Temporary permits are valid for up to five years and can be renewed indefinitely. Permanent residency is granted for life.
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7 benefits of residence permits for FIP
1
Straightforward path to residency
Financially independent persons need only a stable passive income from abroad. They are not required to seek employment or enrol in a university.
The process takes about three months, typically faster than residence by investment, which may take up to one year. Lawyers handle most preparation and application procedures, ensuring a smooth process for FIPs.
Financially independent persons need only a stable passive income from abroad. They are not required to seek employment or enrol in a university.
The process takes about three months, typically faster than residence by investment, which may take up to one year. Lawyers handle most preparation and application procedures, ensuring a smooth process for FIPs.
2
No investment required
FIPs do not need to invest in the country’s economy. Instead, they prove a regular income of €900 to 3,000 per month. This income can come from sources such as rental payments, dividends, or pensions.
In comparison, European Golden Visas require a minimum investment of €250,000, with many options costing significantly more.
FIPs do not need to invest in the country’s economy. Instead, they prove a regular income of €900 to 3,000 per month. This income can come from sources such as rental payments, dividends, or pensions.
In comparison, European Golden Visas require a minimum investment of €250,000, with many options costing significantly more.
3
Lower spendings on application
Obtaining residence permit for financially independent individuals usually requires less additional spendings than acquiring Golden Visas. For instance, the fee for a Portuguese residence permit card by investment is €6,045 per person, while FIPs pay €155 per person.
Obtaining residence permit for financially independent individuals usually requires less additional spendings than acquiring Golden Visas. For instance, the fee for a Portuguese residence permit card by investment is €6,045 per person, while FIPs pay €155 per person.
4
Increased global mobility
Holding a residence permit can enhance global travel opportunities. For instance, a residence permit in a Schengen country allows visa-free travel across the Schengen Area.
Holding a residence permit can enhance global travel opportunities. For instance, a residence permit in a Schengen country allows visa-free travel across the Schengen Area.
5
Moving to another country
A residence permit enables financially independent individuals and their families to relocate seamlessly to a new country. They can enter and stay in the chosen country for the duration of the permit’s validity.
Maintaining residency status typically requires living in the country for a certain period. For instance, Austria and Switzerland require residents to stay at least 183 days per year.
A residence permit enables financially independent individuals and their families to relocate seamlessly to a new country. They can enter and stay in the chosen country for the duration of the permit’s validity.
Maintaining residency status typically requires living in the country for a certain period. For instance, Austria and Switzerland require residents to stay at least 183 days per year.
6
Access to quality healthcare and education
Financially independent residents can benefit from medical services and educational institutions in their host countries, many of which offer high-quality healthcare and top-tier universities.
Austria, France, and Spain rank in the top 10 for healthcare quality, according to the Numbeo Health Care Index 2024, with nearly universal coverage and widely accessible medical services.
French Université PSL and Swiss ETH Zurich and EPFL – École polytechnique fédérale de Lausanne are among the 30 best universities in the world.
Financially independent residents can benefit from medical services and educational institutions in their host countries, many of which offer high-quality healthcare and top-tier universities.
Austria, France, and Spain rank in the top 10 for healthcare quality, according to the Numbeo Health Care Index 2024, with nearly universal coverage and widely accessible medical services.
French Université PSL and Swiss ETH Zurich and EPFL – École polytechnique fédérale de Lausanne are among the 30 best universities in the world.
7
Prospects of obtaining permanent residence or citizenship
In most countries, temporary residence for financially independent individuals can lead to permanent residence or citizenship. Applicants must continuously reside in the country and pass language tests.
The timeline varies by country. In Argentina, citizenship can be obtained in as little as two years. Portugal and France offer both permanent residence and citizenship after five years of residency. In Greece, permanent residence is available after five years, and citizenship after seven years.
In most countries, temporary residence for financially independent individuals can lead to permanent residence or citizenship. Applicants must continuously reside in the country and pass language tests.
The timeline varies by country. In Argentina, citizenship can be obtained in as little as two years. Portugal and France offer both permanent residence and citizenship after five years of residency. In Greece, permanent residence is available after five years, and citizenship after seven years.
Documents for obtaining residence permits
The required documents vary by country but generally include:
a passport;
a marriage certificate;
a police clearance certificate;
proof of income, for instance, bank statements;
health insurance;
photos.
All documents must be translated into the official language of the chosen country or English if permitted. Notarisation is also required.
How to obtain a residence permit for financially independent people
Obtaining a residence permit for financially independent individuals typically takes at least three months. While application procedures vary by country, the process generally follows standard steps.
Seeking assistance from a licensed agent, such as Immigrant Invest, ensures that applicants receive legal support at every stage of the process.
1 day
Preliminary Due Diligence
Immigrant Invest’s Anti-Money Laundering Officers conduct a preliminary Due Diligence check to reduce refusal risks to 1%. If issues arise, lawyers suggest solutions. Upon successful clearance, a contract is signed with the applicant.
1+ weeks
Arrangement of accommodation
The Immigrant Invest team helps the applicant to secure housing in the chosen country. They provide property options and check clearance of the owner of the property and the property itself.
2—3 weeks
Collection of documents
Lawyers provide a detailed list of required documents, fill out government forms, and handle notarisation, apostilles, and translations where necessary.
1+ weeks
Application for a D visa
Lawyers submit the application and documents to the relevant immigration authorities, usually at the consulate in the applicant’s country of residence.
1 day
Application for a residence permit
The residence permit application is filed in person in the chosen country, with an Immigrant Invest lawyer accompanying the applicant.
1+ week
Obtainment of residence permits
Authorities review the application. If approved, the applicant receives their residence permit either in person or via courier.
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Frequently asked questions
Schedule a meeting
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Schedule a meeting at one of our offices or online. Our lawyers will analyze your situation confidentially, calculate the cost of your application and help you find a solution based on your goals, in person at a place convenient for you or online, at a time that suits you.
Chief Development Officer at Immigrant Invest
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