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A golden retirement visa is a residence permit, not citizenship, granted on a pension, passive income or savings with no investment. We scored 19 retirement routes from their official texts: 11 meet the Golden standard of little or no tax on foreign income, little presence and little renewal.
See the rankingMCP
The short answer
A golden retirement visa is a residence permit, not citizenship, that you obtain on a pension, passive income or savings, with no investment. To meet Mirabello's Golden standard it must also leave foreign income untaxed or lightly taxed, ask for little or no time in the country, and rarely or never need renewing.
Golden visa or retirement visa?
No. A golden visa is residence granted for an investment, usually property, a fund or a government contribution, and the investment is its price. A golden retirement visa asks for no investment: you qualify on income or savings that remain yours.
The word golden stands for what retirees value most: little or no tax on foreign income, the freedom to come and go, and a permit that rarely needs renewing. Money that must stay locked in a local bank counts against a route; above US$50,000 it cannot be Golden.
Some countries use the word themselves: Bahrain's retiree licence is a category of its Golden Residency. We judge every route by the same standard, whatever it is called, and we show the routes that fall short and why.
The ranking
19 retirement routes scored on the same methodology, highest first. Golden routes meet the whole standard; partial routes meet most of it with one gap; the rest are listed so you can see why they fall short. Requirements are shown in the currency the law sets, with an indicative US dollar value.
Source: MirabelloMCP · 11 October 2026
| # | Country and route | Score | Income requirement | Minimum stay | Tax on foreign income | Renewal | What holds it back |
|---|---|---|---|---|---|---|---|
| Golden retirement visas (11) | |||||||
| 1 | PanamaPensionado (retiree) permanent residence | 90Golden | PAB 1,000 a month (≈ US$1,000)+ PAB 250 per dependant | None, but not more than 2 years away | UntaxedTerritorial: local-source income only | Never: permanent from the start | Meets every part of the standard |
| 2 | GuatemalaPensioner and rentier permanent residence | 82.5Golden | US$1,250 a month+ US$300 per dependant | None, but more than a year away without authorisation can cancel residence | UntaxedTerritorial: local-source income only | Never: permanent from the start | Meets every part of the standard |
| 3 | BahrainGolden Residency, retiree category | 80Golden | BHD 4,000 a month (≈ US$10,600)Resident retirees with 15 years' work in Bahrain: BHD 2,000 (≈ US$5,300) a month | None since November 2025 | UntaxedNo personal income tax | Every 10 years, with no permanent status | Meets every part of the standard |
| 4 | ThailandLTR visa, Wealthy Pensioner categoryAge 50+ | 79.8Golden | US$80,000 a yearOr US$40,000 a year with a US$250,000 investment in Thailand | None | UntaxedTerritorial: local-source income only | Every 5 years, with no permanent status | The tax benefit applies only on conditions |
| 5 | ParaguayResidence for pensioners | 78Golden | No fixed minimum; assessed case by case | None, but more than three years away in a row can end residence | UntaxedTerritorial: local-source income only | None: permanent residence at the first expiry | Meets every part of the standard |
| 6 | PhilippinesSpecial Resident Retiree's Visa (SRRV Classic)Age 40+ | 77Golden | Optional: a pension of US$800 a month lowers the deposit | None: no obligation to stay in the country | UntaxedTerritorial: local-source income only | Never: permanent from the start | No tax-residence certificate is issued on this route |
| 7 | MauritiusResidence permit for retired non-citizensAge 50+ | 76.1Golden | Transfer of US$24,000 a year, or US$2,000 a month, to a Mauritian bank | None | Partly taxedSome foreign income taxed | None: permanent residence at the first expiry | The income must be transferred to, or held in, the country |
| 8 | UruguayLegal residence for rentiers, retirees and pensioners | 75.9Golden | No fixed minimum; assessed case by case | Not stated by the official source | Partly taxedSome foreign income taxed | Never: permanent from the start | Meets every part of the standard |
| 9 | CyprusCategory F permanent residenceNon-EU nationals only | 75.4Golden | EUR 9,568 a year (≈ US$10,740)+ EUR 4,613 per dependant | None, but the permit lapses after two years away | Partly taxedSome foreign income taxed | Never: permanent from the start | Meets every part of the standard |
| 10 | PeruRentista residence | 71.5Golden | US$1,000 a month | None, but more than 183 days away in a row ends residence unless authorised | Partly taxedSome foreign income taxed | Never: permanent from the start | The income must be transferred to, or held in, the country |
| 11 | Costa RicaPensionado and rentista residence | 71.4Golden | Pension of US$1,000 a month (pensionado), or other income of US$2,500 a month proved for two years (rentista) | None, but more than two years away in a row can cancel residence | UntaxedTerritorial: local-source income only | 1 renewal, then permanent residence | The income must be transferred to, or held in, the country |
| Partial: one gap (5) | |||||||
| 12 | PanamaRentista Retirado (retired rentier) residence | 77Partial | PAB 850 a month (≈ US$850) | Not stated by the official source | UntaxedTerritorial: local-source income only | Every 5 years, with no permanent status | The income must be transferred to, or held in, the countryA locked deposit of about US$230,000, above the US$50,000 Golden line |
| 13 | MexicoRetirement visa (permanent residency by economic solvency) | 75.5Partial | MXN 133,733.40 a month (≈ US$7,580)+ MXN 25,808.20 per dependant | None to keep the permanent card | Taxed hereWorldwide income once tax-resident | Never: permanent from the start | Foreign pension taxed once you are tax-resident |
| 14 | United Arab EmiratesRetirement residence visa | 69.5Partial | AED 240,000 a year (≈ US$65,280) | None, but not more than 180 consecutive days away | UntaxedNo personal income tax | Every 5 years, with no permanent status | Strict presence rule: 183 days a year or more, or an absence limit under six months |
| 15 | Dominican RepublicPensioner residence (Ley 171-07) | 62Partial | US$1,500 a month+ US$250 per dependant | No day count; income must be received and spent there | UntaxedTerritorial: local-source income only | Every year, with no permanent status | Renewed every year, or renewal tied to spending the income locally |
| 16 | Dominican RepublicRentier residence (Ley 171-07) | 62Partial | US$2,000 a month+ US$250 per dependant | No day count; income must be received and spent there | UntaxedTerritorial: local-source income only | Every year, with no permanent status | Renewed every year, or renewal tied to spending the income locally |
| Not golden (3) | |||||||
| 17 | BrazilVITEM XIV retiree visa | 47.5Not golden | US$2,000 a month | Not stated by the official source | Taxed hereWorldwide income once tax-resident | None: permanent residence at the first expiry | Foreign pension taxed once you are tax-residentThe income must be transferred to, or held in, the country |
| 18 | PortugalD7 visa for pensions and passive incomeNon-EU nationals only | 46.5Not golden | EUR 920 a month (≈ US$1,030)+ EUR 460 per dependant | No set minimum, but six months away in a row can cancel the permit | Taxed hereWorldwide income once tax-resident | 2 renewals, then permanent residence | Foreign pension taxed once you are tax-residentStrict presence rule: 183 days a year or more, or an absence limit under six monthsThe income must be transferred to, or held in, the country |
| 19 | ColombiaM-Pensionado migrant visa | 46Not golden | COP 5,252,715 a month (≈ US$1,310) | Not stated by the official source | Taxed hereWorldwide income once tax-resident | 1 renewal, then permanent residence | Strict presence rule: 183 days a year or more, or an absence limit under six months |
The score is a planning signal, not advice. Tax follows tax residence, not the permit: the label shows how foreign income is treated once you are tax-resident, and your home country may still tax your pension under its own law and its tax treaties. Each route links to its own page or to its row in our full directory.
Not sure which route fits your pension and your travel plans? Talk to a specialist
Methodology
Every route is scored out of 100 on eight pillars, from its official texts: the law or decree, the immigration authority's requirements and the tax code. The weights below are the same for every country.
| Pillar | Points | What it measures |
|---|---|---|
| Tax on foreign income | 25 | How a tax resident is taxed on a foreign pension, other passive income and gains, plus wealth and inheritance taxes |
| Physical presence | 20 | Any minimum stay, and the longest absence allowed before the permit is at risk |
| Financial test | 15 | The income or savings required, and whether money must be locked or invested |
| Durability | 12 | How long the permit lasts and how often it must be renewed |
| Processing | 8 | The official processing time |
| Healthcare | 5 | Insurance requirements and access to care |
| Family, work and travel | 5 | Dependants, the right to work and travel on the permit |
| Permanent residence and citizenship | 10 | How soon the route leads to permanent residence, and then to citizenship |
A route is Golden when it scores at least 70 out of 100, its sources earn a confidence grade of A or B, and it does not fail on tax on foreign income, presence or renewal. A locked deposit above US$50,000 caps it at partial, because the standard means no investment. Partial routes score at least 50 with no more than one such gap.
Each route was read from its official sources, which are listed at the foot of this page, and the same figures power Mirabello's MCP server, so this page, our route pages and Mira, by Mirabello, never disagree. A figure we could not confirm on an official source is withheld, not estimated.
The score does not rank countries as places to live: climate, safety and cost of living matter, but they are personal. Nor is it advice: your nationality, age, family and home-country tax can change the answer, and a specialist should confirm it.
Want the methodology applied to your own pension and plans? Talk to a specialist
Quick answers
Every Golden route needs no investment: Panama (Pensionado), Guatemala, Bahrain, Thailand, Paraguay, the Philippines, Mauritius, Uruguay, Cyprus, Peru and Costa Rica qualify on income or savings that stay yours. Where a route asks for a deposit held in a local bank, the table shows it, and a locked deposit above US$50,000 keeps a route out of the Golden tier, as for Panama (Rentista Retirado).
Among the Golden routes, foreign income stays untaxed for a tax resident in Panama (Pensionado), Guatemala, Bahrain, Thailand, Paraguay, the Philippines and Costa Rica, because those countries tax only local income, exempt the holders of the route, or have no personal income tax. In Mauritius, Uruguay, Cyprus and Peru part of it is taxed, and the table says which part.
None of the Golden routes sets a minimum number of days a year. Some cap long absences instead, such as Panama (Pensionado), Guatemala, Paraguay, Cyprus, Peru and Costa Rica; the stay column gives each rule. Spending more than about half the year in a country usually makes you tax-resident there, which is a separate test from the permit.
Panama (Pensionado), Guatemala, Paraguay, the Philippines, Mauritius, Uruguay, Cyprus, Peru and Mexico grant permanent residence from the start or at the first expiry, so there is no cycle of renewals. Bahrain, Thailand, Panama (Rentista Retirado) and the United Arab Emirates run for long terms of five years or more between renewals.
Yes, on some routes: the Philippines, Panama (Rentista Retirado), Mexico and the United Arab Emirates accept savings, a deposit or other assets instead of, or alongside, regular income. Most other routes test a monthly income, and most accept passive income such as rent, dividends or interest as well as a pension; the table names the routes that accept a pension only.
In Latin America, the Golden routes are Panama (Pensionado), Guatemala, Paraguay, Uruguay, Peru and Costa Rica. In Asia, Thailand and the Philippines. In Europe, Cyprus, open to non-EU nationals. In the Middle East and Africa, Bahrain and Mauritius.
Beyond the score
Seven things change the answer for a real person, and no score can weigh them for you.
Some routes are closed to EU, EEA and Swiss citizens, who rely on free movement instead, and a few exclude other nationalities. The table flags the routes for non-EU nationals only.
Several routes set a minimum age, such as Thailand (50), the Philippines (40), Mauritius (50) and the United Arab Emirates (55); most have none.
Many routes add a fixed amount for each dependant; others cover a spouse and children with no extra income test.
Your home country may keep taxing your pension under its own law or a tax treaty, and US citizens are taxed on worldwide income wherever they live.
If you need a certificate of tax residence for your home tax authority, check that the destination issues one to holders of your route; not every country does.
Many routes require health insurance for you and your family, and access to public healthcare differs from country to country.
Some routes check your income again at each renewal, and a few require it to be transferred to, or spent in, the country.
We check all seven for your case before you apply. Talk to a specialist
MCPMira, by Mirabello, reads the same data as this page through our MCP server and answers for your pension, savings and travel plans, with the official source for every figure.
Questions
The questions retirees ask most, answered from the same data as the ranking.
It depends on what easy means for you. On the official texts, Panama's Pensionado (retiree) permanent residence scores highest, at 90 out of 100. The lowest fixed income test among the Golden routes is US$800 a month, in the Philippines; check the table for any deposit or transfer that comes with it, and note that some routes set no fixed minimum at all.
A residence permit for people who no longer work, granted on proof of a pension, passive income or savings rather than a job or an investment. It lets you live in the country; it is not citizenship. Most retirement visas do not allow local employment, and many ask you to show the income again at renewal.
Two countries can have a say. The destination taxes you only once you are tax-resident there, usually after about half the year in the country, and then only on the income its law covers: the Index labels each route. Your home country may keep taxing the pension under its own law and its tax treaty. This is general information, not tax advice.
Usually yes, but the country that pays it sets the rules: some pay in full wherever you live, some stop annual increases in certain countries, and many ask for a yearly proof of life. Check with your pension authority before you move.
Among the Golden routes, the fixed income tests run from US$800 to about US$10,600 a month in US dollar terms, and some routes add an amount for each dependant. Paraguay and Uruguay set no fixed minimum and assess your income case by case.
Many routes set no minimum age. Where one is set, it is the age shown in the table, such as Thailand (50), the Philippines (40), Mauritius (50) and the United Arab Emirates (55). Some routes accept years of work instead of age.
Rules range from no absence limit at all to about six months in a row. Among the Golden routes, Bahrain, Thailand, the Philippines and Mauritius set no absence limit, while Panama (Pensionado), Guatemala, Paraguay, Cyprus, Peru and Costa Rica end or put the permit at risk after a long absence. The stay column gives each rule.
No. The permit lets you live in the country; tax residence depends on the days you spend there, your home and your economic ties, under each country's own test. You can hold a permit without becoming tax-resident, and a tax treaty decides cases where two countries claim you.
Some do. Panama (Pensionado), Guatemala, Paraguay, the Philippines, Mauritius, Uruguay, Cyprus, Peru and Mexico give permanent residence from the start or at the first expiry; others lead there after a few years, and some never do. Citizenship is a separate application with its own residence, language and integration rules; no retirement visa grants a passport.
Book a free consultation. We check your pension or savings, nationality, family and home-country tax against the routes in this Index, confirm the current official requirements, and prepare and file the application with you.
The official text behind each ranked route, as recorded in our MCP data on 11 October 2026.
Not advice. The Mirabello Golden Retirement Index is a planning tool built from official sources read by 11 October 2026. It is not legal or tax advice. Requirements and tax rules change; confirm them for your case before you act.
A Mirabello specialist reviews your income, savings, nationality and plans, and confirms the current official requirements before you apply.
Book a free consultation