Retirement and passive-income visas compared in 2026: Portugal, Spain, Thailand, Malaysia, UAE and more
Last reviewed 2026-10-27. Rules, fees and processing times in this area change often. Check the official source before you act, and tell us if something looks out of date.
Retirement and passive-income visas let you live abroad without a local job, usually by proving a steady income or savings plus health cover. The rules differ a lot, including whether you may work, whether the visa leads to permanent residence, and which nationalities qualify. Only a few official pages were reachable, so amounts mostly come from agent and news pages and should be confirmed with the consulate. We did not research tax or remittance rules for Indian residents, so take advice on those separately.
Comparison
| Programme | Minimum age | Money test reported | Work | Path to PR or citizenship |
|---|---|---|---|---|
| Portugal D7 | 18 | EUR 920 a month; savings about EUR 11,040 as practice | Allowed | PR after 5 years; citizenship rules in flux |
| Spain non-lucrative | none stated | 400% of IPREM, about EUR 28,800 a year; +100% per family member | Not allowed, including remote work | Not confirmed |
| Thailand retirement extension / O-A | 50 | THB 800,000 or THB 65,000 a month | Not allowed | No PR route |
| Thailand LTR Wealthy Pensioner | 50 | USD 80,000 a year (or USD 40,000 plus a USD 250,000 investment) | Not stated | No PR route |
| Malaysia MM2H | 25 | Fixed deposit from USD 150,000 (Silver) up to USD 1 million | Platinum only | No |
| UAE retirement visa | 55 | AED 180,000 a year, or AED 1 million property plus AED 1 million savings | Not stated | No |
| Panama Pensionado | not stated | USD 1,000 a month lifetime pension | Not stated | Indefinite residence |
| Costa Rica | none | USD 1,000 a month pension; USD 2,500 rentista | No salaried work | PR after 3 years |
| Mexico temporary resident | none | About USD 4,300 to 4,500 a month, or about USD 73,000 | Foreign income only | PR after 4 years |
| Greece FIP | none | EUR 3,500 a month, or EUR 126,000 | Not allowed | Long-term residence after 5 years |
| Italy elective residence | 18 | No official figure | Not allowed | PR after 5 years |
| Philippines SRRV | 40 | Deposit from USD 15,000 | Separate permit | Indefinite stay |
Notes on the main programmes
Portugal D7. The EUR 920 figure follows the 2026 minimum wage (a commercial source dated 21 October 2026). The VFS Global India checklist asks for six months of stamped bank statements, three years of ITRs, apostilled proof of income and an apostilled police certificate, with 60 calendar days processing. The checklist is undated. Portugal's nationality-law changes are covered in our citizenship post, and a source says citizenship now takes 10 years, but sources conflict on when that took effect.
Spain. The consulate page says 400% of IPREM for the main applicant and 100% for each family member, and a one-year private Spanish policy with no co-pay or waiting period. It states the visa does not allow teleworking. We derived EUR 28,800 from a secondary source's IPREM of EUR 600 a month, which we could not confirm officially.
Thailand. A law-firm source gives the O-A health cover as THB 3 million (or USD 100,000). The O-X is limited to 14 nationalities and we could not confirm whether India is one, so treat it as unavailable until you check. The LTR pensioner figures also come from a news source.
Malaysia MM2H. The official guidelines page (updated February 2026) gives a minimum age of 25, and applicants under 50 must spend 90 days a year in Malaysia. The tier amounts are shown only as images, so the figures above come from an agent blog and sources conflict on renewal fees.
UAE. The official page says age 55, at least 15 years of work, and either property plus savings of AED 1 million each or AED 180,000 a year of income; Dubai asks for AED 240,000. Some blogs state different amounts, so use the official page. Our UAE Golden Visa post covers the other route.
Philippines. A 2026 adviser source says the SRRV was restructured on 1 September 2025 and now starts at age 40, but the consulate page still shows the older scheme and we did not read the retirement authority's own page. We could not confirm India's eligibility.
Costa Rica, Panama, Mexico, Greece, Italy. Figures are from single secondary sources, and Greece's source contradicts itself on permit length and tax. Italy publishes no official national income figure.
Practical tips
- Documents from India usually need apostilles and attested translations: see apostille guide and how to prove funds.
- Ask the consulate whether your pension counts. Many schemes need a lifetime pension, and savings or rental income may not qualify.
- Check tax residency before you move. Thailand, for example, taxes foreign income remitted by tax residents.
- After you arrive, follow the first 30 days checklist.
Sources
- Portugalist: D7 changes 2026
- VFS Global India: D7 checklist
- NRI Information: retirement visas for Indians
- Spain consulate (Los Angeles): non-lucrative residence visa
- Costaluz Lawyers: IPREM and the non-lucrative visa 2026
- Thai Law Online: Thailand retirement visa requirements
- Thaiger: LTR visa
- MM2H official guidelines
- Mishu: MM2H requirements
- Relofirm: Panama Pensionado
- Rio Times: Costa Rica residency 2026
- Border Pilot: Mexico temporary residency solvency guide
- Global Citizen Solutions: Greece FIP visa
- Global Citizen Solutions: Italy elective residence visa
- UAE government portal: residence visa for the retired
- Seb Sauerborn: retiring to the Philippines in 2026
Figures were gathered in October 2026. Official government pages were often unreachable, so many figures come from law-firm, adviser and news pages; each is marked where it rests on one source, and anything we could not confirm is labelled. Rules, fees and thresholds change often, so confirm everything with the official body before you apply or pay. Visa Ray is a rule-based reference tool, not a law firm or medical, tax or financial adviser. You can run a free assessment on Visa Ray for your own profile.
