European immigration programs are not specifically focused on pensioners, rather on financially independent foreigners. That is, those who do have enough funds for living.
The amounts are usually tied to the subsistence minimum or the average salary in the country. Migration agencies proceed from the fact that after moving, foreigners should be able to provide for themselves and not get in line for benefits.
To approve an application for a residence permit, you will need to confirm the income on which you can live with dignity in your chosen country. Spendings in Europe can be relatively high. An average pension might not be enough in some of the counrties. But if you have an additional source of income, for example, an apartment for rent, the task becomes solvable.
Those who receive a residence permit under such programs cannot work for hire in the country of relocation (although there are exceptions to this rule). At the same time, they can receive passive income, such as a pension, money from renting out housing, profit from their own business, income from shares, etc. By the way, you can buy an apartment for rent or open a business in a new place. As a rule, you can also work remotely for a company in another country.
In addition, such a residence permit does not oblige a pensioner to live in a new country permanently. You can move there only for several months or live in a new place for a long time, and return home if necessary. However, continuous residence almost everywhere gives a significant plus: after a few years, a foreigner has the right to obtain permanent residence, and a second citizenship after that.
Country | Min income per year, € | Period before permanent residence | Period before citizenship | Second citizenship | Who can also obtain | Work permission |
Austria* | 24,000 | 5 years | 10 years | No | Partner; dependent children |
No |
Bulgaria | 1,500 | 5 years | 10 years | Yes | Partner; dependent children |
No |
Greece | 24,000 | 5 years | 10 years | Yes | Partner; dependent children |
No |
Ireland |
50,000 | Uncounted | Uncounted | Yes | None | No |
Spain | 26,000 | 5 years | 10 years | Yes | Partner; dependent children |
No |
Italy | 31,000 | 5 years | 10 years | Yes | Partner; dependent children |
No |
Cyprus | 9,500 | Issued immediately | 7 years | Yes (for EU, NATO and some other countries) | Partner; dependent children |
No |
Latvia** | 8,800 | 5 years | 10 years | Yes | Partner; dependent children |
No |
Portugal | 7,620 | 5 years | 5 years | Yes | Partner; dependent relatives (parents, children, siblings) |
Yes |
France | 15,000 | 5 years | 5 years | Yes | Partner; dependent children and parents |
No |
* There are quotas in Austria for participants of this program. Less than 500 places are allocated annually for the whole country.
** Only citizens of countries with visa-free entry can participate in the program of Latvia.
As you can see, the conditions of the programs allow you to move abroad without any special difficulties. Only Latvia and Bulgaria require retirement status, you can move to the rest at any year of your life. There is also no need to make large investments: there are no non-refundable contributions or investments in the economy. You can rent a house and submit a contract for a period of one year as a proof of a permanent address in a new country.
If you are ready to buy a house or apartment abroad, you can get a residence permit already on this basis in many countries. For a list of programs for real estate buyers, see here.
P.S. Programs for financially independent individuals are available in several other countries, for example, in Germany and Switzerland. However, they are suitable only for very rich people. In Germany, the applicant's personal capital must be at least €1 million. In Switzerland, the exact amounts are not established, but in practice it is beneficial to receive a residence permit only for people with a fortune of 30 million euros: tax benefits are provided for the ultra wealthy.