The TL;DR
Europe's retirement visas are one of the cleanest routes to a long-term life abroad, and you don't have to be retired to use them.
This issue compares the four best (Portugal, Spain, Italy and Greece): what each costs, who it suits, and the one rule that decides which fits you.
The catch most guides skip: nearly all of them ban you from working, even remotely, so where your income comes from matters more than your age.
Covered in this article
1. 🛂 What they are
Europe's retirement visas let you live somewhere long-term without taking a local job, funded by income that arrives whether you work or not: a pension, rent, dividends, royalties, or in some cases savings.
Officially they're often called passive income or "financially independent person" permits, and that's the more useful way to think about them, because it shows who actually qualifies. You don't have to be retired.
Greece's version, for example, has no upper age limit and openly courts the financially independent, not just pensioners.
⚠️ THE ONE CATCH TO KNOW On most of these visas, working is a breach of your conditions, even remote work for a UK employer. Spain enforces this hard: a revoked permit, deportation, and a re-entry ban. Consulates have tightened checks for 2025 and 2026 to screen out working-age remote applicants, and will reject you if your statements show a salary landing each month. If you're still earning from a job, you want a digital nomad visa instead.
Next step: Work out one thing before you go further: is your income passive (it arrives without you working) or active (you earn it)? That answer decides whether these are for you.
2. 📋 How they work
The country details differ, but the mechanics are remarkably consistent. Understand one and you broadly understand all four.
To qualify, you need to prove three things: enough passive income (or savings), private health insurance valid in the country, and somewhere to live there. You apply at that country's consulate in the UK before you move, then finalise your residence permit after you arrive.
How you prove the money. Two questions trip people up: a lump sum or monthly income, and which bank. As a rule, you show your existing UK bank statements (often with a signed bank letter) at the consulate, and you don't need a local account to apply. The exception is Portugal, which wants a Portuguese account and a NIF tax number, with the savings deposited, before you apply. Whether a lump sum of savings is enough or you need regular monthly income varies by country, see each option below.
Once you're living there, the clock starts. Spend more than 183 days in a year and you generally become a tax resident, taxed on your worldwide income locally. Stay the course and most of these lead to permanent residency after about five years.
The health insurance bit. Every one of these visas needs residency-grade private health cover (full medical insurance, not travel cover), and Spain in particular wants a policy with no co-payments. Three to compare, from value to premium. We've no affiliation with any of them; this is just our research.
Genki Resident - The Value Pick
Best for: keeping costs down with comprehensive cover; frequent movers and over-55s (no upper age limit).
Cost: quote-based by age, and typically the cheapest of the three.
What it covers: worldwide inpatient and outpatient care, chronic conditions after review, direct hospital billing, telemedicine, unlimited overall limit.
Watch out for: pre-existing conditions only after approval, and it isn't guaranteed to satisfy every consulate (a few EU countries insist on a locally-based insurer), so confirm before applying.
Trustpilot: 4.1/5 (~900 reviews)
Users say: fast, fully digital claims for simple cases, though some disputes over what counts as pre-existing.
Cigna Global - The Most Flexible
Best for: people who want to build their own plan (tune the modules, deductibles and regions) across a huge global network.
Cost: quote-based; roughly £120/month for basic cover, nearer £360 with outpatient and extras, rising with age.
What it covers: modular worldwide cover from core inpatient up to comprehensive, with optional outpatient, dental, evacuation and US cover.
Watch out for: premiums can jump at renewal, and US cover and add-ons cost extra.
Trustpilot: 4.1/5 (3,500+ reviews)
Users say: praised for responsive support and fast direct billing; renewal price rises are the common gripe.
Bupa Global - The Premium Pick
Best for: maximum protection, high limits, and anyone with complex or chronic health needs, if budget allows.
Cost: quote-based and the priciest of the three, with top-tier plans running well over £1,000/month.
What it covers: comprehensive worldwide cover with very high annual limits, strong specialist, cancer and chronic-condition care, and direct settlement.
Watch out for: the most expensive option, some plans carry an excess.
Trustpilot: 4.2/5 (~390 reviews)
Users say: strong for complex claims and global access; some find it costly and report authorisation friction.
Want the full breakdown? We compared these and the travel-only options for shorter trips in Healthcare As A Nomad: GHIC and NHS Limitations and Best-in-Class Insurance Options.
Next step: Start gathering the universal three early (proof of income, a compliant health policy, an accommodation plan). They're the same wherever you land, and the slowest to sort.
3. 🧭 Is it right for you
Before you compare countries, run this quick check. Answer two questions and follow the arrows.
Start here.
Q1. Where does your income come from?
→ A salary or client work you actively do: these visas aren't for you. Look at our guide on Digital Nomad Visas across 21 different countries.
→ Passive income (pension, rent, dividends, savings): you likely qualify. Go to Q2.
Q2. Will you do any remote work while you're there?
→ Yes, some: only Portugal's D7 allows it. The other three ban all work, including remote. You can read more about Portugal’s D7 Visa in our Visa Matcher Guide.
→ No: all four are open to you. Choose on income and lifestyle (section 4).
Two situations the questions don't cover:
Taking a funded career break? Savings can sometimes carry an application, but the bar is high and varies by country (Spain, for one, wants proof you can fund the full multi-year path). Treat savings-only routes as "get advice first."
Researching for parents? Then section 5 matters to them more than the visa mechanics. Forward them this edition.
Next step: Settle which side of the check you land on. If you're still actively working, save yourself the read and wait for next week's nomad-visa edition.
4. 🗺️ The options
Income figures are the verified 2026 legal minimums. The rough £ figures are ballpark, because exchange rates move, so confirm the live numbers before applying.
🇵🇹 Portugal D7 (Passive Income Visa)
Income: €920/month (~£800), about €11,040/year, pegged to Portugal's minimum wage (up from €870 on 1 January 2026). Add 50% for a spouse, 30% per child, plus ~€11,040 savings.
Proof: you show both the monthly income and the savings, and unusually they must sit in a Portuguese account (you'll need a NIF tax number) before you apply.
Remote work: allowed for non-Portuguese clients or employers, as long as your passive income alone still meets the threshold. It's the only one of the four that permits this.
Watch out: you become a Portuguese tax resident, and the old NHR tax break is closed to new arrivals (section 5).
🇪🇸 Spain Non-Lucrative Visa (NLV)
Income: €2,400/month (~£2,090), about €28,800/year, plus ~€600/month per dependent.
Proof: a lump sum of savings covering at least the first year (~€28,800, and many consulates want proof for the full multi-year stay) or regular passive income. Your own UK account is fine, and no Spanish account is needed to apply.
Watch out: a strict, actively enforced ban on all work including remote. The Golden Visa route was scrapped in 2025.
🇮🇹 Italy Elective Residence Visa (ERV)
Income: roughly €31,000–€32,000/year (~£27,000+, about €2,600/month), and ~€38,000 for a couple.
Proof: must be recurring passive income (pensions, rent, dividends). A lump sum of savings alone won't qualify, though it strengthens the file. UK bank statements and a bank letter are accepted.
Watch out: no remote work, and you need a 12-month lease or owned property in your name just to apply.
🇬🇷 Greece Financially Independent Person (FIP)
Income: €3,500/month (~£3,050), plus 20% for a spouse and 15% per child, or ~€126,000 savings for the three-year permit.
Proof: either the monthly income or the lump sum above works. Since 2024 you no longer need a Greek bank account to prove it, though you may open one after you arrive.
Watch out: no local work, a genuine-residence expectation, and the usual private health insurance requirement.
💡 Quick rule of thumb Lowest bar and most flexible: Portugal D7 (€920/month). Steepest monthly income test: Greece (€3,500/month). Most enforced work ban: Spain. Most paperwork up front: Italy.
Next step: Shortlist one or two, then confirm the live figures and document list with that country's consulate before you commit.
5. 🇬🇧 What it means for UK citizens
This is where Brits get caught out, because the received wisdom is out of date.
Portugal is no longer the tax haven you've read about. The famous NHR regime is closed to new applicants, and its replacement (IFICI) does nothing for pension or passive income. New arrivals pay standard Portuguese rates.
A new UK–Portugal tax treaty has landed, the first since 1968, effective from the start of 2026. Broadly, most UK private pensions and the State Pension become taxable in Portugal once you're resident, while UK government service pensions (civil service, many NHS, military) stay taxable in the UK.
Your State Pension still rises in the EU. Under the post-Brexit arrangement it's uprated each year for residents in EU countries, a sharp contrast with frozen pensions in Australia or Canada. Worth flagging if you're researching for parents.
⚠️ WARNING Crossing 183 days makes you tax resident, and that's the most expensive thing to get wrong. Treaties stop you paying twice, but only if you claim relief properly (in the UK, the right HMRC forms). Before committing to 6+ months anywhere, get advice from a chartered cross-border tax adviser.
Need a hand with the tax? Two advisers we rate, depending on how tangled things are (no affiliation with either):
TaxScouts for straightforward cases (Self Assessment, confirming non-resident status), from around £119–£199. taxscouts.com/uk-expats-tax
Expat Tax Solutions for genuine complexity (the Statutory Residence Test, double-tax treaties, property, mixed income), consultations around £250–£500. expat-tax-solutions.co.uk
We go deeper on choosing and working with a UK tax adviser, with more options, in UK Tax Residency Is Complex: How to Get Help Without Getting Burned.
Next step: If a move is real, book that consultation before you go, not after your first tax year abroad.
Official Resources 📎
Portugal D7 and residency: AIMA, Portugal's immigration agency (aima.gov.pt), and the Portuguese consular visa portal (vistos.mne.gov.pt)
Spain Non-Lucrative Visa: Spain's Ministry of Foreign Affairs consular pages (exteriores.gob.es)
Italy Elective Residence Visa: Italy's official visa portal (vistoperitalia.esteri.it)
Greece FIP Visa: Greek Ministry of Migration and Asylum (migration.gov.gr)
UK tax when you leave: GOV.UK, "Tax if you leave the UK to live abroad" (gov.uk/tax-right-retire-abroad-return-to-uk)
UK double-tax relief and State Pension: GOV.UK, "Tax on your UK income if you live abroad" (gov.uk/tax-uk-income-live-abroad) and "State Pension if you retire abroad" (gov.uk/state-pension-if-you-retire-abroad)
WHAT WE’RE WATCHING
The Best Exotic Marigold Hotel
Retirement is often treated as something that happens after the interesting bit of life is over. The Best Exotic Marigold Hotel makes a fairly persuasive case for the opposite.
The film follows a group of British retirees who move to India after being drawn in by the promise of a restored hotel, lower costs and a different pace of life. Inevitably, not everything works quite as advertised.
What makes it relevant here is the bigger idea. Moving abroad later in life does not have to be a retreat. It can be a reset, provided you understand what your income allows, what your visa permits, and what kind of life you are actually trying to build.
A warm reminder that “retirement” abroad is often less about stopping, and more about choosing where the next chapter happens.
Watch on Disney+ or buy/rent on Amazon Prime Video.
DISCLAIMER
This newsletter provides general information only and does not constitute legal, tax, or immigration advice. Visa requirements and tax rules change frequently. Always verify current requirements with official government sources and consult qualified professionals for advice specific to your situation.