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Retirement Visa Income Requirements by Country

Most countries that offer retirement visas want proof you can support yourself without working locally.

Europe

Portugal (D7 Passive Income Visa). Requires roughly 1x the Portuguese minimum wage per month, currently EUR 920. One of the lowest thresholds in Europe. You'll also need to show savings or ongoing pension income to sustain it. The D7 feeds into Portugal's residency track, so after 5 years you can apply for permanent residency or citizenship.

Spain (Non-Lucrative Visa). Requires 400% of the IPREM, Spain's public income indicator. That comes out to about EUR 2,400/month for a single applicant. Add 100% IPREM (EUR 600/month) per dependent. Spain also requires private health insurance with no copays, which narrows your policy options.

Italy (Elective Residency Visa). Consulates typically want to see EUR 31,000+ per year in passive income. Requirements vary by consulate, as is tradition with Italy.

Latin America

Panama (Pensionado Visa). One of the oldest and most established retirement visa programs. Requires just $1,000/month in pension income from a government or private pension. Panama also offers significant retiree discounts on flights, restaurant meals, and medical services, all written into law.

Southeast Asia

Thailand (Non-Immigrant O-A Visa). Requires proof of 800,000 baht (about $22,000) in a Thai bank account, or monthly income of 65,000 baht (about $1,800). The bank deposit needs to sit in a Thai account for at least 2 months before applying.

Philippines (SRRV). Requires a deposit of $1,500 to $50,000 depending on age, pension status, and visa category. The lowest deposits are for the Courtesy program (retired diplomats and former Filipinos). The Classic program for most retirees starts at $15,000 with a pension or $30,000 without. Monthly pension requirement is $800 for those who have one.

Other requirements

  • Healthcare. Almost every retirement visa requires private health insurance. Some countries (Spain, Portugal) have specific coverage minimums. Premiums go up with age, so get quotes before committing to a destination.
  • Tax treaties. Your pension may be taxable in your new country, your home country, or both. Check whether a tax treaty exists between the two. The OECD tax treaty resources are a good starting point.
  • Renewal vs. permanent. Some retirement visas are renewable annually (Thailand). Others lead to permanent residency (Portugal after 5 years, Panama immediately in some cases). Know which track you're on.

For your full retirement relocation checklist, see your action plan on LottaLingo.