But if you'd like to declare a more permanent allegiance to team España, then consider applying for its Non-Lucrative Visa. The Non-Lucrative Visa, also known as the “non-working visa,” is a popular route for retirees looking to settle in Spain. After the first year, you can renew the Non-Lucrative Visa for an additional four years (you can renew it twice, for two years each). Now is a great time to apply for the Non-Lucrative Visa. Or hop over to Portugal via the D7 visa, a similar “Passive Income Visa” that requires €11,040 (about $12,660) in savings and 920 euros (about $1,055) in monthly passive income.