Which EU country offers the best residency for financially independent individuals in 2026? A comparative analysis.

The Residence Permit for Financially Independent Persons (FIP) is a popular pathway for relocating to Europe for those who have a stable passive income or savings and do not plan to work in the host country. This right of residence provides access to a high quality of life, healthcare, education, and visa-free travel within the Schengen Area.

Among the many EU countries, the choice often falls on Italy, Spain, and Portugal. In this article, we will compare their conditions in detail so you can make an informed choice. We will also explain how the experts at IST Hungary can help you execute this plan.

Residence Permit for Financially Independent Persons in Italy (Residenza Elettiva)

Italy’s program attracts affluent foreigners willing to relocate to the country long-term without the right to take up employment.

Key Conditions and Requirements:

• Minimum Annual Income: €31,160 for the main applicant. The amount increases by 100% for a spouse and 30-50% for each child.
• Real Estate: Ownership or long-term lease (from 1 year) of a property in Italy is mandatory.
• Rights and Restrictions: Employment and entrepreneurial activities in Italy are prohibited. Receiving passive income (rent, dividends) is allowed.
• Timeline and Procedure: The first residence permit is issued for 1 year, then renewed for 2-year periods. The path to citizenship takes 10 years. Total processing time is from 3-4 months.
• Main Costs: Besides proving income, consider the consular fee (€116), residence permit fee (€130), health insurance, and, of course, real estate costs.

Residence Permit for Financially Independent Persons in Spain (Visa No Lucrativa)

Spain’s visa for non-lucrative residency (Residencia temporal no lucrativa) is ideal for living by the sea in a comfortable climate.

Key Conditions and Requirements:

• Minimum Annual Income: €28,800 (€2,400 per month) for the applicant. An additional €7,200 per year is required for each family member.
• Real Estate: Proof of rented or owned accommodation in Spain is required.
• Rights and Restrictions: The status explicitly prohibits working in Spain. A mandatory requirement is to reside in the country for at least 183 days per year.
• Timeline and Procedure: The first residence permit is issued for 1 year, with the possibility of renewal for 2-year periods. Permanent residency can be obtained after 5 years. Standard processing time is from 4 months.
• Main Costs: Legal services, consular fees, health insurance, as well as costs for document translation and legalization.

More information about Spain can be found here.

Other Popular EU Countries for Comparison

Portugal (D7 Visa)

• Main Advantage: The lowest income requirements in the EU – starting from €1,300 per month.
• Conditions: Rented or owned property and proof of savings are required. Permanent residency or citizenship can be obtained after 5 years.
• For Whom: An ideal start for obtaining European residency with minimal financial thresholds.

More information about Portugal can be found here.

Hungary.

• Main Advantage: Hungary offers alternative pathways, such as company registration leading to a residence permit. This is one of the fastest and most accessible methods for legalization in the EU.
• Conditions: The minimum share capital for a company is approximately €7,700. After 3 years of business operation, there is an opportunity to obtain a 10-year permanent residence permit.
• For Whom: For entrepreneurs who view Hungary as a strategic foothold for business in Central Europe with the prospect of residency.

Read more here.

Comparative Table: Italy, Spain, Portugal