14 countries that offer retirement visas

Sure, you can move abroad for work, education or the love for travel. But imagine spending the golden years of retirement in a country of your choice. While Golden Visas and permanent residencies are all the rage among globetrotters, a few countries offer retirement visas that are designed specifically to offer a new way of life without you having to invest or work in the country. There’s always fine print, of course–while countries like Spain mandate that you cannot work in the country, Thailand requires you to report at the immigration office once a year to confirm your residence status. In countries like Malta and Malaysia, residence passes are afforded to those who can, and are willing to, come settle in the country with sufficient funds. Here, we round up the 14 countries that offer retirement visas one way or another. Take your pick!

Belize

The Qualified Retirement Program (QRP) offers a retirement visa in the form of a QRP card that is linked to your immigration status.
What it offers: Import duty and tax exemptions in cases including vehicle purchase and multiple entries into the country for personal purposes. Individuals can also purchase land for residence and engage in employment and philanthropic activities in Belize.
Eligibility: Individuals aged 45 years and above, who earn $24,000, or Rs19,69,140, annually in retirement income, can apply for this programme with their dependents (spouse and minor children).
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Colombia

You can apply for the migrant visa as a pensioner (Retired M visa) foreigner with a constant monthly income derived from a pension.
What it offers: This visa is valid for up to three years and does not allow you to work in the country. This time can also be counted as accumulation for a resident visa (which requires a five-year stay in the country).
Eligibility: Individuals who earn a pension equal to three months’ worth of minimum wages in Colombia and have a health coverage in the country can gain this visa, and request visas for their spouse; children up to 25 years of age; and any children with physical or mental disabilities.
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Ecuador

While applying for the temporary residence visa for retirees, you can claim a 50% concession on visa fee if you’re above 65 years of age.
What it offers: A stay in the country for up to two years.
Eligibility: Foreign citizens who earn a pension from outside of Ecuador can apply for this visa. This pension has to be equal to or greater than three times of Ecuador’s Unified Basic Salaries of the general worker. A health insurance covering the period of stay and criminal record certificate are required as well.
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Fiji

Foreigners can apply for resident permits ‘on assured income’ for a post-retirement life in Fiji.
What it offers: Resident benefits and tax benefits, among other privileges.
Eligibility: The individual must have sufficient funds for sustenance and deposit a sum of $1,00,00,000 or Rs82 crore, in a resident account of a local bank upon approval of the application. They cannot seek work in the country during their stay, and also need to provide proof of health insurance.
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Indonesia

Indonesia offers a visa for elderly and retired individuals, which can be extended up to five times consecutively.
What it offers: Stay in the country for a period of one year. Individuals are not allowed to work under this visa.
Eligibility: Individuals aged 55 years and above, who can provide a guarantee letter from a tourism board as a guarantor. Proof of at least $1,500 or Rs123,000 in funds and health insurance; third party liability is also a prerequisite, and the individual will be required to employ at least two Indonesian citizens as domestic workers.
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Italy

Italy’s Elective Residence Visa is for those who can sustain their residence in the country through existing assets, and does not grant the individual right to work.
What it offers: Permit to reside in Italy, without working in the country, for 365 days, after which the visa can be renewed.
Eligibility: Those who can prove a stable pension income as well as housing and financial resources. This includes submitting documentation such as proof of property rental, guarantee of income and proof of physical residence (like a utility bill).
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Malaysia

The Government of Malaysia offers long term passes under its Malaysia My Second Home (MM2H) Programme. The applicants are divided into age-based categories of 25 to 49 years and 50 years and above.
What it offers: Renewable five-year visas with multiple entry access to Malaysia, and the ability to work in the country.
Eligibility: Applicants need to submit proof of minimum liquid assets–those aged 50 and above are expected to maintain a minimum Fixed Deposit of RM100,000 or Rs18,06,780– and an offshore income of at least RM10,000 or Rs1,80,680 in the past three months from applying.
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Malta

The Malta Retirement Programme is aimed at those who are not engaged in regular employment, but receive a pension as their regular source of income.
What it offers: The ability to hold a non-executive post on the board of a company based in Malta and avail tax benefits as a member of the programme.
Eligibility: Those who can prove a stable pension income in periodic payments and own or rent a property on the islands of Malta or Gozo (equating to a mandated minimum value).
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New Zealand

If you’re 66 years or older, you can stay in New Zealand for two years on a visitor visa under the Temporary Residence Retirement Visa programme.
What it offers: Multiple entry access to the country and the ability to invest.
Eligibility: The individual must have NZD $750,000, or Rs3 crore, to invest in New Zealand, and an additional NZD $500,000, or Rs2 crore, for sustenance and a running annual income of at least NZD $60,000 or Rs31,01,985.
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Portugal

Portugal’s temporary residence (D7) visa allows two entries during a four-month validity period. Once this gets you in the country, you can apply for a two-year D7 visa that can be renewed. While this visa does not have an age restriction, it is commonly known as the passive income or retirement visa as it’s aimed at individuals who can sustain themselves with sufficient passive income.
What it offers: Resident’s rights to health, education, et cetera; tax benefits and multiple entry access into the country.
Eligibility: Non-EU citizens who can provide proof of financial resources including, but not limited to, movable assets and financial investments.
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Spain

Spain offers a non-working residence visa, which is common among retirees.
What it offers: Permit to reside in Spain without carrying out any work or professional activity.
Eligibility: Applicants must submit proof of financial means to cover for their residence for the first year. The minimum required amount is 400% of Spain’s Public Multiple Effects Income Indicator (IPREM) and 100% of the IPREM for each family member in the applicant’s care.
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Thailand

Thailand recently introduced the Long Term Residence (LTR) visa, which is open to four categories of foreigners, including retirees aged 50 years and over (‘wealthy pensioners’).
What it offers: A 10-year multiple entry renewable visa, fast-track service at Thai airports, tax exemption for overseas income and a work permit among other privileges.
Eligibility: Those that match the age criterion must also have a personal annual income of at least $80,000 or Rs65,61,800 at the time of application. This must be generated through passive means, as an earned income from salary does not count.
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The Philippines

Retired foreign nationals can choose from multiple categories of the Special Resident Retiree’s Visa (SRRV). This includes options for active retirees looking to settle, those looking to invest in the country, former Filipino citizens, and ailing retirees who require medical care during their stay.
While applying for the temporary residence visa for retirees, you can claim a 50% concession on visa fee if you’re above 65 years of age.
What it offers: Indefinite stay with multiple entries, customs duties and tax exemptions for one-time importation of household goods and personal belongings, and a study permit among other privileges.
Eligibility: The applicant must be at least 50 years of age. Criteria regarding monthly pension and visa deposit varies as per category of application.
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UAE

UAE has a Golden Visa program specific to retired individuals, but it’s possible to settle in the country without residence by investment through a residence visa for the retired.
What it offers: Renewable five-year visa with multiple entry access to UAE.
Eligibility: Applicants must be at least 55 years of age, or have work experience of at least 15 years. They must own one or multiple properties valued at AED1 million, or Rs2 crore, have financial savings of the same amount or have a monthly income of AED20,000 or Rs4,46,750.
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