The Ultimate Guide to Retirement Visas in 2025

A retirement visa is a residency permit designed for individuals who wish to live abroad during their retirement years.

These visas typically require proof of stable passive income (e.g., pensions, investments, or rental earnings) and grant long-term residency rights without employment authorization. Many programs offer pathways to permanent residency or citizenship after several years.

Who Is Eligible?

Retirement visas are ideal for:

Retirees aged 50+ (varies by country)
Individuals with verifiable passive income or savings
Those seeking affordable healthcare, lower cost of living, or favorable climates
Applicants with no criminal record

Key Eligibility Criteria:

Minimum monthly income (often $700–$2,500+ US dollars or equivalent)
Proof of health insurance valid in the host country
Clean criminal background
Medical clearance (in some cases)

Retirement Visa Programs by Region

Europe

Portugal (D7 Passive Income Visa):

Income Requirement: €870/month (≈$940) for individuals; +50% for spouses
Duration: 2-year temporary residency, renewable for 3 years
Renewal: Requires 6+ months annual residency
Benefits: Pathway to citizenship after 5 years; tax exemptions on foreign income
Recent Change: Golden Visa program now excludes real estate (investment funds or donations required).
Downside: Annual income requirements may increase unpredictably (tied to minimum wage adjustments). Tax residency obligations require declaring worldwide income.

Spain (Non-Lucrative Visa):

Income Requirement: $2,400/month for individuals; +$600 per dependent
Duration: 1 year, renewable for 2-year periods
Renewal: Must reside in Spain 6+ months annually
Benefits: Schengen Zone access; no work permitted.
Downside: Mandatory 183-day physical presence for tax residency, triggering global income taxation. Strict no-work policies limit income opportunities.

Greece:

Income Requirement: €2,000/month
Duration: 2-year residency, renewable
Benefits: Low cost of living; EU residency after 5 years.
Downside: Stringent 183-day annual residency rule; failure risks visa revocation. Private health insurance is mandatory (public healthcare inaccessible to non-EU retirees).

Malta:

Income Requirement: €28,000/year (individuals); €41,000/year (couples)
Duration: 1-year residency, renewable
Benefits: English-speaking; tax-friendly policies.
Downside: Overcrowding in urban areas, limited natural resources, and reliance on imported goods leading to cost volatility.

Italy (Elective Residence Visa):

Income Requirement: €32,000/year (~$2,878/month) for individuals; additional €32,000/year for spouses and €6,400/year per child
Duration: 1-year temporary residency, renewable indefinitely
Age Minimum: None
Benefits: Pathway to permanent residency after 5 years; access to Schengen Area; rich cultural heritage
Downside: Bureaucratic application delays; regional disparities in healthcare quality

France (Financially Independent Person Visa):

Income Requirement: €16,000/year (~$1,439/month) for individuals
Duration: 1-year renewable residency
Age Minimum: None
Benefits: No physical presence requirement for renewals; pathway to citizenship after 5 years
Downside: High cost of living in urban areas; complex tax treaties for U.S. retirees

Central America & CARIBBEAN

Panama (Pensionado Visa):

Income Requirement: $1,000/month (individuals); +$250 per dependent
Duration: Permanent residency
Benefits: Discounts on healthcare, utilities, and entertainment; no age minimum.
Downside: Banking system risks (deposits only insured up to $10,000); strict documentation for pension proof.

Costa Rica (Pensionado Program):

Income Requirement: $1,000/month
Duration: 2 years, renewable
Benefits: Affordable healthcare; tropical climate.
Downside: Language barriers in rural areas; inconsistent access to specialized healthcare.

Belize (Qualified Retirement Program):

Income Requirement: $2,000/month (passive income)
Duration: 1-year renewable residency
Age Minimum: 40+
Benefits: Tax exemptions on foreign income; no residency time requirements
Downside: No pathway to permanent residency; high banking fees for international transfers

Dominica:

Income Requirement: No formal retirement visa; residency via citizenship investment ($100,000+) or long-term stays
Duration: Varies (citizenship grants lifelong residency)
Age Minimum: None
Benefits: Tax-free environment; pristine natural landscapes
Downside: No dedicated retirement visa; hurricane vulnerability; limited international banking

Mexico (Temporary Resident Visa):

Income Requirement: $2,600/month (individuals); +$860 per dependent
Duration: 1–4 years, renewable
Benefits: Proximity to the U.S.; diverse expat communities.
Downside: Temporary residency renewals require annual proof of financial solvency; rising crime in tourist zones.

South America

Colombia:

Income Requirement: $995/month
Duration: 3 years, renewable
Benefits: Low cost of living; straightforward application process.
Downside: Recent stricter background checks and mental health certifications; political instability in rural regions.

Ecuador:

Income Requirement: $1,380/month
Duration: 2 years, renewable
Renewal: Requires 6+ months annual residency.
Downside: Economic volatility and currency devaluation risks; limited infrastructure outside major cities.

Chile (Retirement/Rentista Visa):

Income Requirement: Suggested $1,000–$1,500/month
Duration: 1 year, renewable
Benefits: Permits work and business activities.
Downside: Visa does not guarantee residency; complex requirements for proving passive income sources.

Argentina (Pensionado Visa):

Income Requirement: $1,390/month (5x minimum wage)
Duration: 1-year renewable residency (up to 3 years total)
Age Minimum: None (retirees must meet income criteria)
Benefits: Low cost of living; pathway to citizenship after 2 years
Downside: Hyperinflation erodes purchasing power; bureaucratic property purchase processes

SOUTH EAST Asia

Thailand (Non-Immigrant O-A Visa):

Income Requirement: $1,800/month or $25,000 in savings
Duration: 1 year, renewable
Benefits: Affordable healthcare; tropical lifestyle.
Downside: Mandatory 90-day reporting to immigration; age restrictions (50+).

Malaysia (MM2H Program):

Income Requirement: $2,400/month (offshore income)
Duration: 10+ years, renewable
Benefits: Tax-free fixed deposits; English widely spoken.
Downside: Post-2024 revamp requires higher offshore income ($2,400+/month); political sensitivity to foreign ownership.

Indonesia (Retirement KITAS):

Income Requirement: $1,500/month or $18,000 in savings
Duration: 1-year renewable residency (up to 4 extensions)
Age Minimum: 55–60 (varies by visa type)
Benefits: Pathway to permanent residency after 4 years; tropical climate
Downside: Mandatory hiring of domestic staff; limited healthcare in remote areas

Philippines (SRRV):

Income Requirement: $800/month (individuals)
Duration: Indefinite
Benefits: No age minimum; low cost of living.
Downside: Difficulty reclaiming deposited funds; ambiguous rules on property investments.

Middle East & Africa

Dubai (Retirement Visa):

Income Requirement: $5,500/month (pension) or $275,000 savings
Duration: 5 years, renewable
Benefits: Tax-free income; luxury amenities.
Downside: Extremely high savings threshold ($275,000+); cultural restrictions on alcohol and public behavior.

South Africa:

Income Requirement: $1,700/month
Duration: 4 years, renewable
Benefits: Scenic landscapes; English-speaking.
Downside: Safety concerns in urban centers; unreliable public utilities.

Morocco:

Income Requirement: Inflation-adjusted annually (≈$1,500/month)
Duration: 1-year renewable residency
Age Minimum: None
Benefits: Affordable cost of living; proximity to Europe
Downside: Language barriers outside Francophone cities; annual income adjustments

Oman (Retirement Visa):

Income Requirement: Proof of stable income/savings (exact threshold unspecified)
Duration: 1-year renewable residency
Age Minimum: 60+
Benefits: Tax-free income; luxury amenities
Downside: Strict social conduct laws (e.g., alcohol restrictions); high cost of living

Mauritius (Retirement Permit):

Income Requirement: $1,500/month or $18,000 in savings
Duration: 10-year renewable residency
Age Minimum: 50+
Benefits: No capital gains or inheritance taxes; tropical island lifestyle
Downside: High dependency on imported goods; limited expat communities

Oceania

New Zealand (Parent Retirement Visa):

Income Requirement: $600,000 investment + $60,000/year income
Duration: 2 years, pathway to residency
Benefits: High quality of life; family reunification.
Downside: Requires $600,000+ investment; geographic isolation limits travel options.

Fiji:

Income Requirement: $45,000/year
Duration: 3 years, renewable
Benefits: Tropical climate; relaxed lifestyle.
Downside: Underdeveloped infrastructure; limited access to specialized medical care.

Recent Developments

Portugal: Golden Visa now excludes real estate; focus on investment funds (€500,000+).
Spain: Stricter health insurance requirements (must cover 100% of medical costs).
Malaysia: Revamped MM2H program with higher income thresholds.
Greece: Reduced minimum income for retirees to attract foreign residents.
Panama: Expanded Pensionado Visa discounts to include dental care.

Key Considerations

Taxes: Many countries (e.g., Portugal, Panama) offer tax exemptions on foreign income.
Healthcare: Ensure local insurance meets visa requirements (e.g., Spain mandates policies with no copays).
Dependents: Most programs require additional income (25–100%) for spouses/children.
Citizenship: Residency periods range from 5–10 years in most EU countries.

Retiring abroad requires thorough research into visa requirements, cost of living, and healthcare. I hope this guide was helpful as a starting point as you plan your retirement abroad.