Golden visas have become increasingly popular among American retirees seeking alternative retirement destinations with better quality of life, healthcare systems, and tax advantages. These residency-by-investment programs offer a pathway to European citizenship or long-term residency in exchange for qualifying investments. Many programs have evolved significantly in recent years, with some closing entirely while others have streamlined their processes to attract more U.S. applicants.
Lisbon, Portugal
Portugal’s Golden Visa continues to be a leading choice despite recent changes, offering a streamlined path to EU citizenship. Investment amounts start at €280,000 supporting cultural heritage projects, or €250,000 for arts projects in low-density areas, or €500,000 in approved investment or venture capital funds. The program underwent major changes in late 2023, removing direct property investment in popular areas like Lisbon.
What makes Portugal particularly attractive for U.S. retirees is the minimal stay requirement of just seven days per year, with a five-year pathway to Portuguese citizenship. US investors can use a Self-Directed IRA to fund their Golden Visa investment by rolling over existing IRA or 401(k) funds without triggering early withdrawal penalties. The Portuguese passport ranks 5th worldwide, offering visa-free travel to 188 destinations.
Athens, Greece
Greece’s Golden Visa remains accessible with real estate investments starting at €250,000 in less competitive regions, or €500,000 in cities like Athens and Thessaloniki, with a massive spike in interest from U.S. nationals. Greece has increased the minimum investment for its Golden Visa program to €800,000 in high-demand areas, impacting some retirees’ investment strategies.
The Mediterranean diet, integral to Greek culture and rich in olive oil, fresh vegetables, fruits, and fish, has been linked to improved longevity and overall well-being. The main downside is that the Greek Golden Visa does not currently provide a direct pathway to citizenship, and integrating into local communities can be more challenging due to the Greek language. Greece offers excellent healthcare systems and a strong sense of community that appeals to retirees.
Valletta, Malta
The Malta Golden Visa program provides long-term residency in exchange for real estate investment and government contribution, with a minimum required investment ranging from 150,000 EUR to 350,000+ EUR, offering visa-free access to EU countries. For 2025, applicants must invest a minimum of €300,000 in real estate in the South of Malta or Gozo, or €350,000 for properties in the rest of Malta.
Applicants can expect a swift decision within four to six months, with approved investors granted a five-year renewable residency permit. Malta’s passport ranking stands at 7th globally in 2025, with Maltese passport holders enjoying visa-free or visa-on-arrival access to 190 countries. The program also offers particular attraction to investors looking to include several generations under one application, allowing dependent unmarried children of any age and parents or grandparents on either side.
Rome, Italy
Italy’s investor visa program is gaining momentum, especially after the introduction of the Digital Nomad Visa, with Americans able to invest €250,000 in an innovative startup or €500,000 in a company to qualify. Italy offers a rich cultural heritage, excellent cuisine, and world-class healthcare systems that make it particularly appealing to American retirees.
The country provides access to the broader European Union through its residency program, though specific residency requirements can be more demanding than some other European alternatives. Italy’s strategic location in the Mediterranean provides excellent access to other European destinations, making it ideal for retirees who want to explore the continent extensively during their retirement years.
Dublin, Ireland
Ireland’s Immigrant Investor Program requires a €1 million investment and is popular among American entrepreneurs and retirees. The program offers access to Ireland’s stable political environment, English-speaking population, and excellent healthcare system. Ireland provides a unique combination of European Union membership with cultural familiarity for American retirees.
The investment threshold is higher than many other European programs, but Ireland offers an exceptional quality of life and serves as a gateway to both European and UK markets. The country’s strong educational system also benefits retirees who want to bring families or pursue lifelong learning opportunities during retirement.
Panama City, Panama
Panama ranks 6th in International Living’s 2025 Global Retirement Index, praised for its affordable healthcare, Pensionado visa, and tax-friendly policies. Panama’s Friendly Nations Visa and Qualified Investor Visa are fast-track options for Americans. The country offers a tropical climate year-round and uses the U.S. dollar as its currency, eliminating exchange rate concerns.
Panama’s strategic location serves as a bridge between North and South America, offering excellent healthcare at a fraction of U.S. costs. The country’s retirement program includes discounts on everything from medical services to entertainment, making it particularly cost-effective for American retirees on fixed incomes.
Dubai, UAE
Real estate investors can purchase property worth at least AED 2 million ($545,000) for a 10-year renewable visa, with financing available through approved UAE banks with a 20% down payment. The UAE has no income tax, but Americans should note that getting a Dubai Golden Visa doesn’t eliminate US tax obligations, though proper planning can often reduce US tax liability to zero.
For retirement, applicants must receive a monthly income of AED 15,000, have AED 1 million in a 3-year fixed deposit in a UAE institution, or invest AED 1 million in unmortgaged or mortgaged property. The UAE’s tax structure offers significant advantages for investors, entrepreneurs, and professionals looking to maximize earnings while enjoying long-term residency. The country provides world-class infrastructure, international schools, and modern healthcare facilities.
Mexico City, Mexico
Mexico now ranks 3rd globally for retirement in 2025, offering expats affordability, quality healthcare, and vibrant communities. While Mexico doesn’t offer a traditional golden visa program, it provides excellent retirement visa options for Americans with proven income or savings. The country’s proximity to the United States makes it easy for retirees to maintain connections with family and friends.
Mexico offers a significantly lower cost of living compared to major U.S. cities, excellent weather in many regions, and a large established expat community. The healthcare system provides quality care at affordable prices, and the cultural richness makes it an engaging place for active retirees.
Muscat, Oman
Oman’s Investment Residence Program offers a 10-year renewable residence permit requiring investment of at least OMR 500,000 (roughly US$1.3 million), or a 5-year renewable permit for OMR 250,000 (around US$650,000) in an Omani company, government bonds, or real estate. Oman offers special residency options for retirees.
Oman provides a unique Middle Eastern retirement destination with political stability, excellent infrastructure, and a welcoming culture toward expatriates. The country offers beautiful landscapes, from mountains to beaches, and maintains a more relaxed atmosphere compared to other Gulf states while still providing modern amenities and healthcare systems that meet international standards.
The golden visa landscape for U.S. retirees continues evolving rapidly, with some programs closing while others expand their offerings. Each destination provides unique advantages, from Portugal’s pathway to EU citizenship to Dubai’s tax-free environment and Panama’s cost-effective living. Smart retirement planning increasingly includes considering these international options as viable alternatives to traditional domestic retirement strategies.