Internationally mobile families are increasingly combining residency programs in Spain and Portugal rather than relying on a single visa. The shift reflects recent regulatory changes and a strategic focus on flexibility across borders.
Spain ended its Golden Visa program to new applicants in April 2025, directing affluent retirees and financially independent families toward alternative routes such as the Non‑Lucrative Visa. This visa permits residence for individuals supported by independent wealth or passive income, without requiring an investment in the country.
Portugal’s Golden Visa remains open, requiring a minimum €500,000 investment in an eligible regulated fund. Holders must meet a modest physical‑presence requirement—approximately seven days per year—to maintain the visa and eventually qualify for permanent residency and citizenship. The investment can stay professionally managed, and applicants are not required to renounce their existing citizenship, subject to home‑country laws.
How the two programs complement each other
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Spain – Non‑Lucrative Visa
- Provides legal residence for families who want to live day‑to‑day in Spain.
- Grants access to international schools, healthcare, established expat communities, and a lifestyle many families seek.
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Portugal – Golden Visa
- Functions as a passive, investment‑based residency pathway.
- Preserves long‑term optionality for EU citizenship while demanding minimal physical presence.
- Allows the investment to remain professionally managed, keeping the applicant’s primary life elsewhere.
By separating objectives—using Spain for everyday living and Portugal for strategic, long‑term EU access—clients avoid the misconception that residency programs must be mutually exclusive.
Broader trend in mobility planning
The move toward multi‑jurisdictional strategies reflects a wider desire for flexibility:
- Families prioritize where they want to live now and which program safeguards future options.
- They seek to minimize disruption when immigration policies or tax regimes change.
- Planning is shifting from product‑centric choices to a portfolio approach that balances immediate lifestyle needs with long‑term mobility goals.
Key considerations for families
- Residency obligations: Portugal’s Golden Visa requires roughly seven days of physical presence annually; Spain’s Non‑Lucrative Visa has no minimum stay requirement but expects genuine residence.
- Investment thresholds: Portugal mandates a €500,000 investment in a qualified fund; Spain’s Non‑Lucrative Visa does not require an investment, only proof of sufficient passive income.
- Citizenship pathways: Both programs can lead to permanent residency and eventual citizenship, but the timelines and requirements differ.
- Tax implications: Families should assess the tax residency rules of each country and how dual residency may affect their overall tax burden.
By leveraging complementary residency programs, globally mobile families can enjoy the lifestyle benefits of Spain while maintaining a strategic foothold in Portugal that keeps European citizenship options open. This cross‑border mobility strategy exemplifies the evolving landscape of investment migration in Iberia.
Source article: www.globalcitizensolutions.com
