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If you’re considering retiring outside the United States, you’ll need a retirement visa. This special type of visa is issued by some nations to people with adequate financial resources and a desire to live in a foreign country for an extended period of time.
Retirement visas typically have income, health, and age requirements that vary depending on the issuing country. Before you can realize your dream of retiring abroad, you’ll need to learn about visa requirements in your chosen destination.
Key Takeaways
- Retirement visas are a type of visa that allows individuals to retire in a foreign country.
- The requirements for obtaining a retirement visa may include age restrictions and financial criteria.
- The application process for a retirement visa typically involves submitting an application form and supporting documents.
- Different countries offer retirement visa programs with varying requirements and benefits.
- Retirement visas provide advantages such as access to healthcare, tax benefits, and the opportunity to live in a foreign country.
How Retirement Visas Work
A visa is a government permit allowing foreigners to enter a particular country and remain there for a specified period of time. A retirement visa is a type of visa that allows people to enter a country and, if they wish, spend their retirement years there.
Countries that offer retirement visas of one form or another include Costa Rica, Ecuador, Indonesia, Ireland, Mexico, Nicaragua, Panama, Portugal, Spain, and Thailand.
Retirement visas are generally good for at least 12 months, after which they can be renewed if the person still qualifies. In some countries, foreign retirees can also apply for permanent residency and obtain citizenship after they have lived there for a certain number of years.
Retirement Visa Requirements
Retirement visas go by different names in different countries, each of which maintains its own rules. In some countries, an individual must be over a certain age to qualify for a retirement visa. Others may have no specific age requirement but stipulate that the person be retired and have retirement or pension income.
All set a minimum income requirement, and some require that applicants deposit funds in a local bank. In many instances, retirement visa holders are not allowed to work in the host country unless they can obtain a separate work permit. The visa holder may also be required to purchase health insurance that is valid in that country. (Medicare pays for healthcare outside the U.S. only in rare instances.)
Warning
Deciding to retire in a foreign country isn’t something to take lightly. Consider every angle, including your health and finances, before you take next steps.
How To Get a Retirement Visa
The process for obtaining a retirement visa varies by country. In most cases, application forms can be found on government websites, along with instructions on how to apply, including where to apply in person.
Depending on the country, you may be able to apply either within the U.S. or at an immigration office in the host country. If you’re applying within the U.S., this will typically entail appearing, with necessary documents, at either the country’s embassy in Washington, D.C. or one of its consulates in a major city.
Every country requires at least a few documents. In virtually every case, applicants are expected to provide:
- A valid passport or other travel document
- Proof of income and/or assets
In some countries, you may be required to provide additional documents, such as:
- A birth certificate
- A marriage certificate (if applicable)
- A medical report
- Proof of vaccinations
- Evidence of medical insurance
- Proof of a place to stay
- A police certificate showing a lack of a criminal record
- Bank statements reflecting deposits in local accounts
It can take several days to several months (or even years) to receive a retirement visa.
Retirement Visa Options in Different Countries
Here are a few overviews of retirement visas available in countries that American retirees might be considering: Australia, Indonesia, Ireland, and Thailand.
Australia
Australia has some of the strictest immigration laws in the world and no longer offers retirement visas.
In 2018, the government created a “retirement visa pathway,” which can lead to permanent residency for a small number of people who qualify. There are several ways to set yourself on this pathway, although it can be a years-long journey.
If you already held an Australian retirement visa (subclass 410) or investment retirement visa (subclass 405) on May 8, 2018, you may be eligible to apply for permanent residency. (Both of those visas have been discontinued.)
If you don’t meet that requirement, you can apply for either a parent visa (subclass 103) or the more expensive contributory parent visa (subclass 143), which may qualify you for permanent residency after a certain period. In either instance, you must be the parent of an Australian citizen or permanent resident, or a qualifying citizen of New Zealand, in addition to meeting financial and other requirements.
The government cautions that processing times for parent (subclass 103) visas are significantly longer than those for contributory parent (subclass 143) visas, which also receive priority consideration. The government recently estimated waiting times of 15 years for contributory parent visas, and 40 years for regular parent visas.
Indonesia
The Republic of Indonesia offers a retired or senior citizen visa that is good for one year and may be extended for as many as five additional years. It doesn’t specify an age requirement, but it does require proof of sufficient financial resources in the form of a bank or pension fund statement. In addition, applicants must provide proof that they have health, life, and liability insurance.
After living in Indonesia for five consecutive years, visa holders can apply for permanent residency.
Ireland
To retire in Ireland, U.S. citizens must apply for and be granted what’s known as Stamp 0. To be eligible, you must be financially independent, have a verifiable income of €50,000 per year, and have the means to buy a home in Ireland.
Stamp 0 applicants must also have private medical insurance. They “cannot receive any benefits or use publicly funded services, for example, be treated at a public hospital.” In addition, they are not allowed to “work or engage in any business, trade, or profession unless specified in a letter of permission from Immigration Service Delivery.”
Residents can apply for Irish citizenship once they have lived in the country for a certain period of time, typically five years but sometimes less.
Thailand
The Kingdom of Thailand offers what is essentially a retirement visa—the Non-Immigrant “O-A” (Long Stay) Visa—to eligible applicants ages 50 and older who don’t intend to work in the country. (Working is, in fact, prohibited on this visa.)
While the visa is only good for one year, visa holders can apply to extend it for additional one-year periods if they continue to meet the criteria, including income and asset requirements. In addition, visa holders must report to immigration officials every 90 days.
After living in Thailand for three years, visa holders can apply for permanent resident status.
However, it’s worth noting that Thailand limits how many people from any given country are eligible for residency each year—it’s currently 100 per country.
Retirement Visa Costs
Countries charge fees for retirement visas. This table shows some examples, as compiled by visadb.io, a website funded by grants from a number of countries:
| Country | Cost | Good For |
| Costa Rica | $150 | 1 year |
| Mexico | $130 | Life |
| Panama | $800 | Life |
| Portugal | $530 | 2 years |
| Thailand | $340 | 5 years |
Benefits and Limitations of a Retirement Visa
Retirement visas allow people to stay in a foreign country longer than typical tourist visas. This can be particularly useful to retirees, who may want to sample a country at various times of the year before deciding on moving there permanently. A retirement visa can also be a step toward qualifying for permanent resident status.
These visas do come with requirements, several of which are described above. In addition, retirees can be subject to taxes and may be required to contribute to the country’s healthcare and retirement systems.
Meanwhile, American citizens who retire to a foreign country are still required to file U.S. tax returns if their income exceeds a certain threshold, just as if they had remained in the States. Income from both U.S. and foreign sources is taxable, although foreign income up to a certain amount may be eligible for the foreign earned income exclusion.
The U.S. also has tax treaties with a number of countries, preventing citizens who are living abroad from being taxed twice on the same income.
Tip
Retirement visas differ from golden visas, which are a type of residency-by-investment program allowing people to gain residency by investing in the local economy.
Tips for a Successful Retirement Visa Application
To save time and avoid potential disappointment, anyone who wishes to obtain a retirement visa should follow a few basic steps:
- Read the visa requirements for the host country. These can be found online, usually at the website of the country’s embassy or immigration office.
- Make a checklist of required documents and gather them.
- If your U.S. passport is close to expiring, renew it.
- If the country requires a medical examination, arrange a visit to your doctor.
- Fill out the retirement visa application, which is also typically available online.
- Make an appointment at the nearest embassy or consulate if the country requires an in-person application and allows you to apply from the U.S.
Note that some countries don’t allow applications from abroad but require that you show up in person at an immigration office in that country, typically after having obtained a tourist visa to get in. That makes it all the more important to obtain every necessary document before you go.
Who Can Apply for a Retirement Visa?
Anyone who meets a given country’s requirements can apply for a retirement visa if that country offers one. The requirements typically include a certain amount of income and assets. Some countries have specific age requirements, while others don’t.
How Can I Apply for a Retirement Visa?
Most countries explain their retirement visa application on their websites, and many provide their applications online. When you’re ready to apply, however, you may have to do so in person.
Which Countries Allow a Retirement Visa?
At least 23 countries offer retirement visas of one kind or another, although they go by many different names. If you’re interested in a particular country, do an online search using its name plus “retirement visa.” A call to the country’s embassy is another option.
Which Countries Are the Easiest To Get a Retirement Visa for?
Generally speaking, countries in Latin America tend to have the lowest minimum income requirements, and they may also have the lowest costs of living. If your goal is to ultimately become a citizen of another country, note that some of them are known for their relatively easy citizenship requirements for retirees.
What if I Want To Work in Retirement, but Abroad?
A digital nomad visa is a document or program that gives someone the legal right to work remotely while residing away from their country of permanent residence. Almost 50 regions offer an option to work abroad, including the Bahamas, Croatia, Germany, Norway, and Taiwan.
The Bottom Line
Many countries welcome foreign retirees, particularly those who will bring reliable incomes and substantial assets. For that reason, countries often offer visas that allow retirees to stay for an extended time and possibly the rest of their lives.
If you’re a retiree—or will be one soon—start the planning process as soon as you can. Obtaining a retirement visa can be a good way to explore and experience a country long enough to know whether it’s a place where you would like to settle down permanently.