Argentina is one of the countries in the world offering the fastest route to regular naturalization. nationals who have made a significant investment in Portugal, such as purchasing real estate, making a capital investment, or creating employment opportunities, SchengenVisaInfo.com reports. During 2020, Panama launched a Residency By Investment Program aimed specifically at countries not featured on the Friendly Nations list. You are not from an eligible country for a retirement visa. Citizens of EU countries, Iceland, Lichtenstein, Norway, and Switzerland are given permanent residency automatically after five years. In essence, these programs are for rentierspeople with independent income from property, investments and such. Its all about the discounts. 71-75 Shelton Street, Covent Garden, (Argentine passport holders do need a visa to the USA, Canada, and Australia, however.). These cookies will be stored in your browser only with your consent. ), And Quintana Roo, where Playa del Carmen and Cancun are located, is only slightly more dangerous, AND lean the basics of who can qualify for these types of retirement vehicles, as well as, 8 Easiest Citizenships & Passports To Get In 2023, 4 Powerful Estate Planning Strategies for 2023, straightforward path to Chilean residency, complete 95% of the application process without leaving your home, shortcut to permanent residency in Mexico, program became a lot more expensive and restrictive, obtaining Panamanian Residency By Investment, income requirements for the Non-Lucrative Visa. Panama Residency Visa Programs (Friendly Nations, Retirement and Investment Based), 10. Both the European Commission and the United States have said they will be taking measures to stop golden passport sales to wealthy Russians as part of a raft of sanctions against Russia, the Times of Malta reports. It is important to note that your income has to be passively earned a pension or rental income from a property you own will work. However, our Argentina Immigration Law partner confirms that certain nationals have a more challenges than others. From Greece to Panama, these countries offer tax breaks and steep discounts for foreign retirees. France the importance of enjoying the best of life 7. And the countries above may have different visa and residency options that may be better suited. They may ask you to provide: Some programs are only open to citizens of approved countries. These visas are granted for unlimited periods. This is what you need to qualify for Panamas Pensionado Visa: You need to be at least 18 years old. Provide proof that you receive monthly income of at least $1,000. Provide a police record check issued by the FBI. Provide a health certificate issued by a Panamanian doctor. The cost of living in Chile is quite high, relative to other Latin American countries, however retirees from North America and Europe will enjoy significantly more purchasing power than at home. For this reason, several countries issue retirement visas to allow foreigners to live and enjoy their retirement. At the beginning of 2021, we even hosted a highly successful and well attended Total Access event in Cancun. While there is still no set amount of money required in order to be approved, our legal contact in Santiago recommends showing $1,500+ in income, per month, for the primary applicant, and an additional $500+ per month for each additional dependent. Greece Golden Visa Program. This visa option is well suited to rentiers, e.g. Each option has its own requirements, though the Special Resident Retiree's Visa (SRRV) is the countrys overall standard. Portugal the best all-rounder 2. Setting up a Panamanian corporation is fast, affordable and easy. Panama was one of the first countries in the world to launch a pensioner specific visa program. But the visa received a reprieve when Costas governing Socialist Party refused to vote to abolish the program last December. If you are single, you can apply for naturalization after five years as a resident, and if you are married three years is sufficient. With a monthly budget of around only $2,000, you can make the most of your retirement years without breaking the bank. Coming from behind with a relatively new program, Nicaragua beats out all the competition with the most affordable minimum monthly income requirement by far. You only need to visit Panama once every two years to maintain your residency status, making it an excellent Plan B destination. The other top countries offering the best citizenship-by-investment options include North Macedonia, St. Kitts and Nevis, St. Lucia, Antigua and Barbuda, Grenada, Dominica, Turkey, Jordan, Egypt, Vanuatu and Cambodia. If you want your spouse and children to become residents as dependents as well, the monthly income requirement remains the same$2,000 or more. Do state pensions, private pensions, annuities, royalties, social security, or investment income qualify? Americans, Canadians, Britons and EU nationals can enter Mexico without a visa and stay for up to 180 days, no questions asked. For every dependent minor child (or children up to 25, provided that theyre single and still studying), the income requirement goes up by $250 per month. Youll need to earn at least $800 per month as a single applicant, and an additional $100 per month for each additional dependent. Latvia Investor Visa (250,000) Costa Rica the Switzerland of Central America 4. Also, as is the case with Spains Non-Lucrative Visa, youre not allowed to get a local job in Greece on the FIP Visa, though you can keep working on your remote job or business. It can take anywhere from 8 to 12 months. But opting out of some of these cookies may have an effect on your browsing experience. That is a great asset that gives you another option to live and work (or escape) outside of your home country. Can the income be from work, or must it be passive? Central America Retirement Visa Countries. For people seeking to relocate and settle in Europe on a long-term (6 months per year+) or full-time basis, there exists a variety of alternative visa options worthy of exploration and theyre, MINIMUM PASSIVE INCOME / SAVINGS REQUIREMENTS (2021), GREEK FINANCIALLY INDEPENDENT PERSON VISA, You accept our Privacy Policy and Website Usage Policy. The below six countries, across Europe, Southeast Asia, and Latin America, offer some of the best incentives for retireespromising to make the big move well worth your while. Minimum monthly income requirement: $2,000Additional income requirement for each dependent: $750Minimum age to qualify: 45Value of personal goods you can bring with you duty-free: No stated maximum; used goods onlyCan you import a car duty-free: Yes, but you pay 12.5 percent sales taxMinimum time required in the country every year: 30 daysSpecial discounts: No, Minimum monthly income requirement: 3 times the monthly minimum wage; currently $1,035Additional income requirement for each dependent: NoneMinimum age to qualify: 18Value of personal goods you can bring with you duty-free: No stated maximum; used goods onlyCan you import a car duty-free: NoMinimum time required in the country every year: Must visit at least every six monthsSpecial discounts: No, Minimum monthly income requirement: $800Additional income requirement for each dependent: $100Minimum age to qualify: 18Value of personal goods you can bring with you duty-free: No stated maximum; used goods onlyCan you import a car duty-free: Vehicle tax is discountedMinimum time required in the country every year: Can't leave for more than 90 consecutive days in the first two years of pensionado residencySpecial discounts: Yes, Minimum monthly income requirement: 10,000 ringgits (currently $3,125) plus other minimum investment in a local CDAdditional income requirement for each dependent: None for unmarried children under 21Minimum age to qualify: Over-50s have lower investment requirementValue of personal goods you can bring with you duty-free: No stated maximum; used goods onlyCan you import a car duty-free: YesMinimum time required in the country every year: NoneSpecial discounts: No, Minimum monthly income requirement: $650Additional income requirement for each dependent: $150Minimum age to qualify: 45Value of personal goods you can bring with you duty-free: Up to $20,000; used goods onlyCan you import a car duty-free: Yes (value up to $25,0000; if you sell the vehicle after 5 years, you pay no sales taxMinimum time required in the country every year: 6 monthsSpecial discounts: Yes, Minimum monthly income requirement: $1,000Additional income requirement for each dependent: $250Minimum age to qualify: 18Value of personal goods you can bring with you duty-free: No stated maximum; used goods onlyCan you import a car duty-free: Yes, but you still pay 7 percent sales taxMinimum time required in the country every year: Must make at least one visit every two yearsSpecial discounts: Yes, Minimum monthly income requirement: 65,000 Thai baht (currently $2,100)Additional income requirement for each dependent: NoneMinimum age to qualify: 50Value of personal goods you can bring with you duty-free: NoneCan you import a car duty-free: NoMinimum time required in the country every year: No requirementSpecial discounts: No. These are all similar but vary in the Similar to the above EU pensioner visa programs, the Elective Residency program requires non-EU applicants to have sufficient financial means to support and accommodate themselves in Italy without the need to get a job locally. It takes a few months to process your retirement visa application. It also includes a tax-exemption on most foreign incomeincluding pensions, dividends, and real estate investmentsfor up to 10 years. For instance, retirees with knowledge of English literature can lecture at a university, or an expat professor with specialized skills can work up to 20 hours a week. Panamas Pensinado program has great discounts and freebies. Several countries offer a retirement visa. Both indexes appear in the 2022 edition of the annual Investment Migration Programs offering a systematic analysis and comprehensive benchmarking of the worlds most important residence and citizenship by investment programs, providing the gold standard in this field," H&P said in a statement released on Tuesday. In addition to having significantly higher passive income requirements than its Iberian competitors (Spain and Portugal), it is also harder to apply for without the assistance of a professional service provider. Once you are a permanent resident in Uruguay, there is no longer a requirement to spend time in the country. What is behind the change? (And some consulates do not even require you to be retired at all.). In fact, some offer real incentives, too. Please note: Permanent resident visa holders will not be able to be out of Ecuador for over 180 days per year during the first two years and for over two continuous years afterwards. You should check with your immigration lawyer to ensure you can apply. Panama has come a long way in the past couple of decades, with a middle class that in 2021 is around 2-3x the size of those found in its regional neighbors, Honduras and Nicaragua. All applicants, regardless of age, must have a Malaysian sponsor (which can be a registered MM2H agent), and health care insurance thats valid in Malaysia. Some of them use their Golden Visa property as vacation accommodation or as a second summer home. But if youre looking for a paper residency as a back-up plan, Panama is well worth considering. In Asia, Malaysia offers its version of a pensionado program, called Malaysia My Second Home. totaling at least $84,839, and a regular monthly pension of $2,500. Even during the apex of 2020s lockdowns, there were still plenty of non-stop flights between Mexico and cities like Houston, Paris, Miami, New York, Madrid, Los Angeles and Amsterdam. If you earn a periodic, stable income (from sources other than a salaried job), the rentista program should be an excellent option for you. Out of all the countries our team has been to in these challenging times, Mexico has been one of the stand-out destinations in terms of reasonable COVID-19 regulations and its overall sense of pre-pandemic normalcy. Portugal Cultural Production Golden Visa (250,000 and 200,000) #5. No minimum stay enforced presently, but 6 months+ per year could be required. 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