5 countries that offer retirement visas.

Retirement marks the beginning of a new chapter in life, filled with the promise of relaxation, exploration, and adventure. As an increasing number of retirees seek to spend their golden years in new and exciting surroundings, 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. Here, we round up the 5 countries that offer retirement visas one way or another. Take your pick!

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.

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 Rs65,61,800 at the time of application.

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 AED 1 million.

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.

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 a limited amount of funds and health insurance.