Top Countries with Retirement Visas for Expats

Retirement visas are special long-term residency permits designed for foreigners who want to spend their retirement years in another country.

Retirement visa countries, including Portugal as the top one, provide retirees with legal residency, access to local healthcare, and lifestyle flexibility in destinations across Asia, Europe, the Americas, and Oceania.

These visas typically require proof of income, savings, or investments and often have age minimums.

This guide covers:

• What countries have retirement visas?
• Which country is best for a retirement visa?
• What should you consider in choosing the best retirement visa country?
• Which EU country has the easiest retirement visa?

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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.

What are the countries with retirement visas?

Countries that provide formal retirement visa programs or long-term residency permits tailored for retirees include:

Asia

• Thailand: The retirement visa is officially known as the Non-Immigrant O-A or O-X Visa. It’s for applicants aged 50+, requiring proof of income (around THB 65,000 per month) or savings (about THB 800,000), plus health insurance.
• Philippines: This retirement visa is called the Special Resident Retiree’s Visa (SRRV). It’s available from age 35, with a bank deposit starting at USD 10,000. It offers multiple-entry privileges and tax incentives.
• Malaysia: The Malaysia My Second Home (MM2H) program offers a 10-year renewable visa for retirees meeting asset and income requirements (around USD 150,000 in assets and USD 3,000 monthly income).
• Indonesia: Known as the Retirement KITAS, this visa is for applicants aged 55+ with a monthly income of at least USD 3,000, local sponsorship, and health insurance. It’s renewable every year.
• United Arab Emirates (Dubai): The UAE’s Retirement Visa allows five-year residence for applicants aged 55+, who can show AED 20,000 monthly income, AED 1 million in savings, or property worth AED 1 million.

Europe

• Spain: The Non-Lucrative Visa serves as Spain’s retirement visa option, requiring passive income equivalent to 400% of Spain’s IPREM per year and full private health coverage.
• Portugal: The D7 Visa, often referred to as the Passive Income Visa, allows retirees with stable monthly income to gain residence and EU travel rights.
• Italy: The Elective Residency Visa is Italy’s retirement pathway for foreigners with guaranteed annual income (around €31,000) and health coverage.
• Greece: The Financially Independent Person Visa functions as Greece’s retirement residence option for those earning at least €3,500 per month.
• France: France offers a Long-Stay Visitor Visa (VLS-TS) for retirees with adequate income and private health insurance.
• Malta: The Malta Retirement Programme (MRP) provides residence to retirees with sufficient income and health insurance.
• Ireland: Ireland’s Stamp 0 Retirement Visa is for retirees with an annual income of at least €50,000 and lump-sum savings to cover accommodation costs.
• Switzerland: While not a formal retirement visa, Switzerland grants residence permits to financially independent retirees who can demonstrate substantial wealth and adequate health insurance.

Americas

• Panama: The Pensionado Program in Panama is one of the most attractive globally, requiring a pension of at least USD 1,000 per month and granting discounts on healthcare, utilities, and entertainment.
• Costa Rica: The Pensionado Visa in Costa Rica allows retirees with a pension of at least USD 1,000/month to obtain renewable residency.
• Mexico: The Permanent Resident Visa in Mexico serves retirees who meet income or savings thresholds, offering indefinite stay after initial approval.
• Ecuador: The Pensioner Visa (Visa de Jubilado) requires income of at least USD 1,425/month and offers an affordable lifestyle.
• Colombia: The M Visa – Pensionado Category applies to retirees earning at least three times Colombia’s minimum wage, granting renewable residency rights.

Africa and Other Regions

• Mauritius: The Mauritius Residence Permit for Retired Non-Citizens is available to those aged 50+ with proof of USD 2,000 monthly income and health insurance.
• South Africa: The Retired Person’s Visa requires income of at least R37,000/month and proof of medical coverage.
• New Zealand: The Parent Retirement Resident Visa enables retirees with sufficient income and investments to live permanently in the country.

Additional Considerations

• Income Requirements: Many countries require proof of a minimum monthly income or pension to qualify for a retirement visa.
• Health Insurance: Adequate health insurance coverage is often a prerequisite for obtaining a retirement visa.
• Tax Implications: It’s essential to understand the tax laws of both your home country and the country you plan to retire in.
• Residency Duration: Some countries offer permanent residency, while others provide temporary residency with the option to renew.

What makes a good retirement visa country?

A strong retirement visa destination typically combines:

• Affordable cost of living and real estate – Retirees should be able to maintain their lifestyle comfortably without excessive expenses. Property prices, rent, and daily expenses all play a role.
• Access to quality healthcare – Availability of modern hospitals, clinics, and medical services is crucial, especially for retirees with ongoing health needs.
• Safety and political stability – Low crime rates, rule of law, and stable governance provide peace of mind for long-term living.
• Reasonable visa requirements and straightforward application process – Clear eligibility criteria, minimal bureaucratic hurdles, and manageable financial thresholds make the retirement visa accessible.
• Pleasant climate and lifestyle amenities – Retirees often prefer warm or temperate climates, recreational facilities, cultural activities, and opportunities for social engagement.
• Access to international airports and good connectivity – Easy travel back to one’s home country or other destinations is important for family visits, business, or leisure.
• Tax efficiency and financial incentives – Favorable taxation on pensions, foreign income, or property can make a retirement destination more financially attractive.
• Community and expat support networks – Presence of established expat communities, clubs, and social groups can ease the transition and enhance quality of life.

Best retirement visa countries

Top countries for retirement visas often include:

1. Portugal – Stands out in rankings for safety, affordability, quality healthcare, and flexible visa options like the D7 or Golden Visa.
2. Spain – Combines world-class healthcare, Mediterranean lifestyle, and the straightforward Non-Lucrative Visa for retirees.
3. Panama – Famous for its Pensionado Program, offering retirees low entry requirements, tax perks, and major discounts on services.
4. Costa Rica – Known for its $1,000/month Pensionado Visa, natural beauty, and strong expat communities.
5. Malaysia – The MM2H program provides a 10-year renewable visa, affordable living, and modern healthcare infrastructure.

What is the safest and most affordable country to retire in?

The safest and cheapest retirement countries include:

• Portugal: Ranked among the top 10 safest country globally, Portugal offers a moderate cost of living, especially in regions like the Algarve. The country boasts high-quality healthcare and a welcoming atmosphere for expatriates.
• Malaysia: Consistently ranked among the top destinations for retirees, Malaysia provides affordable housing, modern healthcare facilities, and a stable political environment.
• Thailand: Known for its low living costs and vibrant expat communities, Thailand offers quality medical care at affordable prices. The country provides various visa options for retirees, making it an attractive destination for those seeking an affordable lifestyle.

Where is the best country to retire?

Countries like Portugal, Thailand, and Malaysia stand out for affordability and quality healthcare, while Spain, Italy, and Greece attract retirees with strong EU residency options.

For tax efficiency and ease of settlement, destinations such as Panama and Costa Rica are also highly rated.

Here’s a quick look of the top retirement countries based on various sources:

Conclusion

Retirement visas provide a pathway for retirees to enjoy long-term residency abroad with legal protections, access to healthcare, and lifestyle flexibility.

Choosing the right country depends on a balance of safety, affordability, visa accessibility, and quality of life.

Popular destinations like Thailand, the Philippines, Malaysia, Portugal, and Spain offer established programs with clear requirements, while other nations may provide unique benefits based on climate, culture, or financial incentives.

Proper planning and understanding of visa conditions, income thresholds, and local regulations are key to a smooth and enjoyable retirement abroad.

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Adam is an internationally recognised author on financial matters with over 830million answer views on Quora, a widely sold book on Amazon, and a contributor on Forbes.