24/04/2024
European Countries with Retirement Visas
For those looking to spend their retirement years in Europe, several countries offer special retirement visas that allow you to legally reside there long-term. However, the requirements for these visas can vary significantly between countries. Here's an overview of some of the most popular European retirement destinations and what you need to qualify for their retirement visas:
Portugal
Portugal is one of the top destinations for American and Canadian retirees due to its affordable cost of living, excellent healthcare system, and great weather. The country offers a retirement residence/ passive income (D7) permit for non-EU nationals with a few key requirements:
- Prove a monthly income source of at least €820 ($910) for the main applicant, plus €350 ($387) for a spouse/partner and €280 ($310) for each additional dependent.
- Have proof of accommodation in Portugal, either by owning a home or having a long-term rental contract.
Spain
Spain's balmy climate and lower living costs attract many retirees as well. For a non-lucrative residence visa (effectively a retirement visa), you'll need:
- Proof of income of at least €27,115 ($30,000) per year, plus €6,778 ($7,500) per year for each additional family member.
- Private Spanish health insurance.
- No criminal record.
- Sufficient funds or income to support your residence in Spain.
France
The requirements for France's long-stay visa (valid for up to a year, renewable) for retirees are:
- Prove a minimum monthly income of around €1,200 ($1,330) for a single person or €1,700 ($1,885) for a couple. Income must come from a secure, legal source like pensions or investment income.
- Obtain private French health insurance initially.
- Have no criminal record.
- Secure accommodation in France.
Italy
Italy offers an elective residency visa for retirees from outside the EU with these main requirements:
- Stable income of at least €31,000 ($34,400) per year for an individual, higher for families. Income can come from pensions, investments or other legal sources.
- Private Italian health insurance.
- Proof of accommodation ownership or a long-term rental contract.
Malta
While small, the island nation of Malta attracts retirees with its Mediterranean lifestyle. For the Residence Permit for Retired Persons, you'll need:
- Be at least 60 years old and retired or self-supporting without employment.
- Prove a minimum annual income of €21,000 ($23,300) for individuals or €27,000 ($30,000) for couples, from government, investment or recurring income sources.
- Purchase private international health insurance.