“Cheapest” here is literal and qualified: the table below sorts the retirement visa programmes we track by their published minimum monthly income (pension) requirement, as stated on official government pages — cheapest by that single figure among the 33 programmes we track, not a recommendation. Each row links to the official source it was taken from.
The 10 Lowest-Cost Retirement Visas We Track
| # | Country | Programme | Min. monthly income | Initial duration | Official source |
|---|---|---|---|---|---|
| 1 | Madagascar | Retirement Visa | €500/mo | 1 month | diplomatie.gov.mg — re-checked 2026-06-21 |
| 2 | Nicaragua | Retirement Visa (Pensionado) | €523/mo | — | migracionesnicaragua.wordpress.com — re-checked 2026-06-21 |
| 3 | Philippines | Retirement Visa (SRRV) | €697/mo | — | pra.gov.ph — re-checked 2026-06-21 |
| 4 | Panama | Retiree Income Visa | €741/mo | 60 months | migracion.gob.pa — re-checked 2026-06-21 |
| 5 | Latvia | Retirement Visa (Pensioner) | €784/mo | 60 months | pmlp.gov.lv — re-checked 2026-06-21 |
| 6 | Costa Rica | Retirement Visa (Pensioner) | €872/mo | — | migracion.go.cr — re-checked 2026-06-21 |
| 7 | Peru | Retirement Visa (Pensioner) | €872/mo | — | gob.pe — re-checked 2026-06-21 |
| 8 | Albania | Retirement Visa (Pensioner) | €1,055/mo | 12 months | e-visa.al — re-checked 2026-06-21 |
| 9 | Bahrain | Retirement Visa | €1,160/mo | 24 months | bahrain.bh — re-checked 2026-06-21 |
| 10 | Ecuador | Retirement Visa (Pensioner) | €1,261/mo | 24 months | gob.ec — re-checked 2026-06-21 |
How to Read This Ranking
- The ranking sorts one published figure: the minimum monthly income (pension) requirement. It excludes insurance, translations, legalisation, travel and living costs.
- Where a country has several qualifying programmes, only its lowest-cost programme is shown.
- Programmes without a published figure for this metric, and programmes restricted to specific nationalities, are not ranked.
- Figures change. Each row shows when the source was last re-checked — always confirm on the official page before applying.
Not sure which route fits you?
Answer a few questions and see which programmes match your profile.
Get Your Free VerdictFrequently Asked Questions
What is the cheapest retirement visa in 2026?
Among the 33 retirement visa programmes we track, Madagascar's Retirement Visa lists the lowest minimum monthly income (pension) requirement: €500 per month.
Which countries have retirement visas with a minimum monthly income (pension) requirement of €800 per month or less?
Based on the figures we track: Madagascar, Nicaragua, Philippines, Panama, Latvia.
How current are these figures?
Every programme in the table links to a named source — about 77% directly to an official government source; the figures shown were last re-checked 2026-06-21.
Does a low minimum monthly income (pension) requirement make approval easier?
No. The ranking sorts a single published figure. Each programme has its own eligibility rules, documentation and totals (insurance, legalisation, living costs) that this one number does not capture.
Figures relate to the specific programmes named above. Always confirm on the official pages linked below before applying.