Italy Investor Visa (Visto per Investitori) vs Spain Non-Lucrative Visa
A factual side-by-side comparison of two residency programmes. All figures are drawn from the canonical program pages — follow either link in the table header for sources and the full profile.
Key Differences at a Glance
- ›Italy Investor Visa (Visto per Investitori) requires a 270,000 USD investment; Spain Non-Lucrative Visa does not.
Italy Investor Visa (Visto per Investitori) Italy · investment | Spain Non-Lucrative Visa Spain · passive income | |
|---|---|---|
| Country | Italy | Spain |
| Category | Investment | Passive Income |
| Application Fee | $130 | $160 |
| Minimum Income | — | $2,800 /mo |
| Minimum Investment | $270,000 | — |
| Processing Time | 3 months | 3 months |
| Family Included | Spouse and dependent children may be included as family members at no additional investment requirement | Additional €600/month per dependent family member |
| Path to PR | Yes — 5 years | Yes — 5 years |
| Path to Citizenship | Yes — 10 years | Yes — 10 years |
| Physical Presence | Must reside in Italy for the duration of the visa; investment must be maintained throughout the residency period | Must spend at least 183 days per year in Spain to maintain residency and advance toward permanent residency |
| Dual Citizenship | Allowed | Not allowed |
| Tax Impact | Residency triggers Italian tax obligations; the €100,000 annual flat tax substitute on all foreign-source income is particularly advantageous for high-net-worth investors and may be combined with family members at €25,000 each per year | Spending 183+ days in Spain triggers Spanish tax residency; foreign income may be taxed. The Beckham Law may provide a 24% flat tax rate for qualifying newly arrived residents for up to 6 years. |
| Tax Residency Trigger | 183 days/yr | 183 days/yr |
| Worldwide Taxation | Yes | Yes |
| Renewal Cost | $130 | $200 |
About Italy Investor Visa (Visto per Investitori)
Italy's Investor Visa offers non-EU nationals residency through qualifying investments in Italian startups (min €250,000), existing Italian companies (min €500,000), Italian government bonds (min €2,000,000), or philanthropic donations to projects of public interest (min €1,000,000). The two-year initial visa is renewable for three-year periods as long as the investment is maintained. Combined with Italy's €100,000 annual flat tax regime on foreign income, it is one of Europe's most tax-efficient investment residency options.
Full Italy Investor Visa (Visto per Investitori) profile →About Spain Non-Lucrative Visa
Spain's Non-Lucrative Visa is a residency permit for individuals who can financially support themselves without engaging in any work or business activity in Spain. Applicants must demonstrate sufficient funds — approximately €2,400 per month or €28,800 per year — along with private health insurance with full coverage in Spain. The visa grants residency for one year, renewable for two-year periods, and provides a path to permanent residency after five years and Spanish citizenship after ten years of legal residence.
Full Spain Non-Lucrative Visa profile →Gotchas to Watch For
Italy Investor Visa (Visto per Investitori)
- ⚠€200k/yr flat tax raised from €100k for NEW applicants from August 2024 — existing beneficiaries continue at €100k
- ⚠Startup route (€250k) requires innovative start-up status (iscritta sezione speciale del registro imprese) — not every new company qualifies
- ⚠Family flat-tax addon is €25k/yr per dependent (raised from €25k but check current)
Spain Non-Lucrative Visa
- ⚠NLV prohibits any work, including remote work for foreign employers (Spain strictly enforces this)
- ⚠Spain does not allow dual citizenship with most countries — naturalising usually requires renouncing original citizenship
- ⚠Physical presence of 183+ days triggers worldwide income taxation
- ⚠Health insurance must have no co-pays and no coverage limits — a common rejection reason
- ⚠Renewal at 1 year requires 2 years of funds on hand for next period
Neutral reference — we don't recommend one programme over another. Programmes change: always verify each detail against the official source linked on the individual program pages.