In short
Europe has no single retirement visa — each country sets its own rules. In 2026 the most accessible routes for Americans are Portugal's D7 (€920 a month), France's visitor visa (about €1,478 a month), Latvia's pensioner permit (€1,231 a month), Spain's non-lucrative visa (€2,400 a month) and Austria's quota-limited permit (about €2,617 a month); Greece, Italy, Malta, Cyprus, Bulgaria, Belgium, Ireland and Luxembourg have routes too. They are for people who do not need a local job — Spain, Italy, Greece, Belgium and Ireland rule out work explicitly. Social Security payments continue in Europe, but Medicare usually does not cover care there, so you need local or private health insurance.
Retiring in Europe: key facts
Last verified 27 September 2026| D7 passive income visa | Passive income of at least €920 a month in 2026 (+50% for a spouse, +30% per child); consulates usually expect about 12 months of that (€11,040) in a Portuguese bank# Source: What Portugal's 2026 Minimum Wage Rise Means for Visas: Portugalist · Portugalist: D7 visa requirements 2026 |
|---|---|
| Visitor visa (visiteur) | For people living on their own means who will not work in France; income at least the net SMIC — €1,477.93 a month (from June 2026)# Source: Service-Public: temporary residence card "visiteur" · Service-Public: SMIC (minimum wage) |
| Pensioner permit: minimum pension | €1,231/month personal, regular pension (from 1 Apr 2026)# Source: PMLP: Necessary means of subsistence (from 1 Apr 2026) |
| Non-lucrative visa | Passive income or savings of 400% of IPREM — €2,400 a month or €28,800 a year in 2026 — plus €600 a month (€7,200 a year) per dependant; no work of any kind, including remote work# Source: Consulate General of Spain in New York – Non-Working Residence Visa · Consulate General of Spain in Chicago – Non-Lucrative Residence Visa |
| Income required (single) | €2,616.78 net per month (€31,401 a year) in 2026, after rent above €386.43# Source: oesterreich.gv.at: settlement permit, gainful employment excluded · City of Vienna: secured means of subsistence |
| Financially independent person (FIP) | €3,500 a month (€42,000 a year), +20% for a spouse and +15% per child; no work in Greece# Source: TaxLaw Greece: residence permit for financially independent persons (Feb 2026) |
| Elective residence visa | About €31,000 a year of passive income per adult (US consulates ask about €62,000 for a couple); registered lease or deed; no work of any kind, including remote work# Source: Consulate General of Italy in Houston: elective residence visa checklist (Dec 2025) · Embassy of Italy in Washington: elective residence visa |
| Malta Retirement Programme | Pension at least 75% of your taxable income; 15% tax on pension remitted to Malta, minimum €7,500 a year (+€500 per dependant); €2,500 fee; at least 90 days a year in Malta (rules until end-2026)# Source: CSB Group: MRP · CSB Group: Malta tax residence programmes from 2027 |
| Social Security abroad | US citizens can keep receiving Social Security payments while living in European countries (payments cannot be sent to a few countries such as Belarus)# Source: Your Payments While You Are Outside the United States (SSA) |
| Medicare abroad | Medicare usually does not cover health care outside the US — plan for local or private insurance in Europe# Source: Travel outside the U.S. (Medicare.gov) |
Compare
Retirement & Passive-Income Visas by Country (2026)
Income bars as published for 2026. Click a country for the full retirement guide.
| Country | Route and income requirement |
|---|---|
| Portugal | Passive income of at least €920 a month in 2026 (+50% for a spouse, +30% per child); consulates usually expect about 12 months of that (€11,040) in a Portuguese bank |
| France | For people living on their own means who will not work in France; income at least the net SMIC — €1,477.93 a month (from June 2026) |
| Latvia | €1,231/month personal, regular pension (from 1 Apr 2026) |
| Spain | Passive income or savings of 400% of IPREM — €2,400 a month or €28,800 a year in 2026 — plus €600 a month (€7,200 a year) per dependant; no work of any kind, including remote work |
| Austria | €2,616.78 net per month (€31,401 a year) in 2026, after rent above €386.43; Yes — limited places per province each year (385 nationwide under the 2025 regulation) |
| Greece | €3,500 a month (€42,000 a year), +20% for a spouse and +15% per child; no work in Greece |
| Italy | About €31,000 a year of passive income per adult (US consulates ask about €62,000 for a couple); registered lease or deed; no work of any kind, including remote work |
| Malta | Pension at least 75% of your taxable income; 15% tax on pension remitted to Malta, minimum €7,500 a year (+€500 per dependant); €2,500 fee; at least 90 days a year in Malta (rules until end-2026) |
| Cyprus | Temporary residence for people who will not work: up to 1 year, renewable; needs income from abroad, health insurance and a lease |
| Bulgaria | Long-term residence for pensioners (Art. 24(1) point 10, Foreigners Act): a pension from any country plus sufficient means |
| Belgium | Long-stay visa (D) for people with their own means (Article 9, Aliens Act); no job allowed; No fixed amount — the Immigration Office assesses pension, rental income or savings case by case |
| Luxembourg | Since May 2023 only income from work in the EU/Schengen or an EU/Schengen state pension counts — US Social Security, 401(k)/IRA and investment income do not; benchmark €2,771 a month |
| Ireland | €50,000 a year of income per person, plus access to a lump sum equal to the price of a home in Ireland; full private health insurance; no work; does not count toward citizenship |
Every figure comes from the country's key-facts register — follow the country link for sources and details.
Switzerland: From age 55, with sufficient funds and special personal ties to Switzerland, and no work anywhere; both canton and federal authorities must approve. Croatia: None. A stay for "other purposes" lasts up to 1 year and normally cannot be renewed — except for pensioners over 60 who own property in Croatia
No Retirement Visa
Countries Without a Retirement Route
Denmark, Lithuania, Romania, Slovakia and Slovenia have no retirement or passive-income permit. Germany, the Netherlands and the UK do not have a dedicated one either — retirees there usually move through family ties or other routes. Luxembourg's route counts only EU or Schengen income, so US Social Security and 401(k) income do not qualify.
Denmark
None — no residence scheme for retirees or people living on passive income. See Denmark.
Romania
Romania has no golden visa, no citizenship by investment and no retirement or passive-income visa. See Romania.
Slovakia & Slovenia
Slovakia has no golden visa, no investor permit and no retirement or passive-income permit. Slovenia is the same. See Slovakia and Slovenia.
Lithuania
None — Lithuania has no golden visa and no residence permit for retirees or passive income. See Lithuania.
Tax
Pension Tax Regimes Worth Knowing
7% flat tax
If you receive a foreign pension, all your foreign income can be taxed at a flat 7% for up to 15 years; not tax resident in Greece in 5 of the previous 6 years; apply by 31 March.
Greece retirement →7% in the south
7% on all foreign income for 10 years if you receive a foreign pension and move to a southern town of up to 30,000 people (since April 2026); no Italian tax on foreign assets.
Italy overview →5% on foreign pensions
Option of 5% on amounts above €5,000 a year (from 2026; was €3,420).
Cyprus retirement →No more NHR
New residents pay normal progressive rates on foreign pensions — the old 10% NHR rate is gone.
Portugal retirement →As a US citizen you keep filing US returns wherever you live. Tax treaties decide which country taxes your pension first — check the treaty notes on each country page.
Health & Money
Healthcare and Social Security Abroad
Social Security continues
US citizens can keep receiving Social Security payments while living in European countries (payments cannot be sent to a few countries such as Belarus).
Medicare does not travel
Medicare usually does not cover health care outside the US — plan for local or private insurance in Europe. Most retirement visas require private insurance; see our healthcare guide.
Public healthcare is often for workers only
Latvia: Private health insurance needed; state-funded care covers only people working in Latvia and permanent residents. Italy: Workers are enrolled in the national health service (SSN) for free; retirees and others not working in Italy pay at least €2,000 a year to join voluntarily (since 2024).
Spain buy-in
Workers and the self-employed are covered by the public SNS; others can buy in through the Convenio Especial after 1 year on the padrón — €60 a month under 65, €157 from 65.
How to Choose
Four Questions Before You Choose
Does your income count?
Some countries accept any pension or savings; Luxembourg counts only EU income. Check the exact rule.
How much time will you spend there?
Spain's renewals need more than 183 days a year; Malta's programme needs at least 90.
What will health insurance cost at your age?
Private premiums rise with age. Compare the buy-in options in Spain, Italy and Portugal.
Do you want citizenship one day?
Residence years on a retirement permit usually count. See dual citizenship for the rules on keeping your US passport.
FAQ
Frequently asked questions
What is the cheapest retirement visa in Europe for Americans?
Portugal's D7 has the lowest income bar — €920 a month in 2026, with about 12 months of that in a Portuguese bank. France's visitor visa needs about €1,478 a month and Latvia's pensioner permit €1,231 a month.
Can I work remotely on a retirement visa?
Usually not. Spain's non-lucrative visa and Italy's elective residence visa exclude all work, including remote work. Remote workers should look at digital nomad visas instead.
Will I keep my Social Security if I retire in Europe?
Yes — US citizens can keep receiving payments in European countries. Medicare, however, usually does not cover care abroad.
Which countries tax foreign pensions at a low flat rate?
Greece and Italy offer 7% on foreign income for qualifying pensioners; Cyprus offers 5% on foreign pensions above €5,000 a year. Portugal's old 10% NHR rate has ended.
Across Europe
Compare all 29 countries by topic
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