Minimum income to retire in Spain: €28,800 a year, and insurance with no copays
Spain has no retirement visa by name. US retirees use the Non-Lucrative Visa (NLV), and in 2026 the main applicant needs €2,400 a month (€28,800 a year, about $32,700) in passive income. Each dependent adds €7,200 a year.
The income bar is the part everyone asks about. The insurance requirement is the part that gets applications denied: no copayments, no deductibles, no waiting periods, no coverage limits.
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The income requirement, in numbers
The threshold is 400% of IPREM, the index Spain uses for benefits and visa income tests. IPREM for 2026 is €600 a month, so the main applicant needs €2,400 a month. Spain did not pass a new national budget for 2026, so IPREM has not changed from 2025. If it changes, the NLV threshold moves with it.
Dollar figure uses $1 = €0.88 (September 2026). The euro amount is what the consulate applies, so your margin moves with the exchange rate.
Passive income only
Social Security, US private and government pensions, annuities, dividends, and rental income count. Employment, freelance, and remote-work income do not. Many consulates, including Los Angeles and London, now ask for a termination letter from your last employer or an official retirement certificate to show you have stopped working.
The insurance requirement that gets applications denied
Medicare covers nothing in Spain, and the public system is not open to NLV holders at first. The Convenio Especial (pay-in access to public care) requires at least one continuous year of legal residence, so you need private insurance to apply and for all of year one. The policy must have:
- No copayments (sin copago) and no deductibles
- No waiting periods, with coverage active from the day you enter Spain
- No coverage limits, with scope comparable to the public system
- At least one year of validity from your entry date
Check the certificate before you file
The most common reason for denial is a certificate showing a copay or deductible the applicant did not know about. Confirm that "sin copago, sin franquicia" appears explicitly on it.
Spanish insurers (Sanitas, Adeslas, DKV, ASISA, ASSSA) publish certificate templates consulates recognize on sight, and most sell to NLV applicants from abroad without a Spanish NIE. International insurers (Cigna Global, IMG Global, GeoBlue) also issue compliant policies, but confirm the certificate format with your consulate. Expect roughly €150–€350 a month at 65 for a compliant Spanish plan, and €200–€400 for a compliant international one.
Eligibility, days in Spain, and renewal
The 183-day rule comes from the immigration regulations in force since 20 May 2025 (RD 1155/2024). Missing it can cost you residency at renewal. It also tends to make you a Spanish tax resident, which matters for IRA and 401(k) withdrawals. Permanent residency is valid for 10 years and renewable.
Spain formally requires US applicants for citizenship to renounce US citizenship. In practice the renunciation is verbal and the US does not recognize it, but that is a legal grey area, so get an immigration lawyer before relying on it. Latin American and certain other nationalities qualify after 2 years; US citizens do not.
The application path
You apply at the Spanish consulate that covers your US state, not in Spain, and requirements vary by consulate. At minimum, expect to show:
- Proof your passive income clears the threshold
- A termination letter or retirement certificate, if your consulate asks
- A private health insurance certificate with no copay or deductible
Get a written insurance quote 60 or more days before your appointment. Coverage has to be in place before the appointment, not after. Check your consulate's own page for the full document list, fees, and processing times, since we have not verified those and they differ between offices. The Los Angeles consulate page is a good model of what to expect.
Before you commit: the tax side
The visa income test is only half of the money picture. US Social Security is exempt from Spanish tax under the treaty, but IRA, 401(k), and Roth withdrawals are taxed in Spain, and Spain does not honor Roth's tax-free status. Plan this before you become a Spanish tax resident.
Spain retirement guide: healthcare, Convenio Especial, and taxes →Common questions
What is the minimum income to retire in Spain?
Does Spain have a retirement visa?
Does Social Security count toward the income requirement?
Can I use a plan with a copay for the visa?
Can I spend winters in Spain on this visa?
How long until I can get permanent residency or citizenship?
Three things to do, in this order.
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Add up your passive income
Social Security, pensions, dividends, and rental income only. Compare the total with €28,800 (plus €7,200 per dependent) using a current exchange rate, and leave a margin.
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Get a no-copay insurance quote
Ask for a certificate that says sin copago, sin franquicia. Start 60+ days before your consulate appointment.
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Confirm requirements with your consulate
Check which consulate covers your state and read its current document list before you book.
Sources
- Non-working (Non-lucrative) residence visa — Consulate of Spain in Los Angeles: Official NLV requirements and termination letter requirement.
- Spain's 2026 IPREM — Spainguru: 2026 IPREM stability and NLV income threshold calculation.
- Spain NLV Financial Requirements 2026: IPREM math and the 400% threshold.
- Health Insurance for Spain's Non-Lucrative Visa — Private Health Insurance Spain: No-copay, no-deductible rule and certificate detail.
- How to Transition from NLV to Permanent Residency — NIM Extranjería: 5-year permanent residency and 10-year citizenship path.
Find a plan that meets Spain's NLV no-copay, no-deductible requirement
Spanish consulates reject plans with any copayment or deductible, and coverage must be active before the appointment. See which international plans qualify and cover you on visits back home.
See which plans meet Spain's NLV requirement