South America has become an attractive destination for retirees looking for a lower cost of living, beautiful landscapes, and a relaxed lifestyle. Many countries in the region offer retirement visas with relatively straightforward application processes. Below, we explore some of the best South American countries that offer retirement visas, including their requirements and benefits.
Colombia
Colombia has gained popularity among retirees due to its warm climate, vibrant culture, and affordable cost of living. The country offers a M-Type (Migrant) Retirement Visa for foreign retirees.
Requirements:
- Proof of a monthly pension income of at least three times the Colombian minimum wage (as of 2025, around COP 3,900,000 or $1,000 USD per month, but subject to change based on minimum wage adjustments).
- A certificate from a government or private pension fund proving the pension income.
- A valid passport.
- Health insurance coverage.
- Background check (may be required).
Benefits:
- The visa is valid for up to three years.
- Access to Colombia’s excellent healthcare system.
- Eligibility to apply for a resident visa after holding the retirement visa for five years.
- No investment requirement.
Ecuador
Ecuador is another top choice for retirees due to its stable economy, pleasant climate, and affordable healthcare system. The country offers a Pensioner Visa (Visa 9-I).
Requirements:
- Proof of a stable pension income of at least $1,350 USD per month (based on 2025 standards) from a government or private pension fund.
- An additional $250 USD per dependent if applicable.
- A clean criminal background check.
- Health insurance coverage.
Benefits:
- The visa grants permanent residency after 21 months.
- No requirement to buy property or make investments.
- Discounts on utilities, entertainment, and transportation for seniors over 65.
Peru
Peru offers a Rentista Visa for retirees, allowing them to enjoy a rich cultural experience and stunning landscapes.
Requirements:
- Proof of a monthly pension of at least $1,000 USD.
- An additional $500 USD per dependent.
- A background check.
- Health insurance.
Benefits:
- Visa holders are eligible for permanent residency.
- Exemption from income tax on foreign-earned pensions.
- Access to Peru’s high-quality and affordable healthcare system.
Argentina
Argentina’s Pensionado Visa is ideal for retirees looking for a European feel in South America, with a cosmopolitan atmosphere and lower living costs.
Requirements:
- Proof of a monthly pension of at least $2,000 USD.
- Bank statements showing a steady income.
- Clean criminal record.
- Health insurance policy.
Benefits:
- Residency can lead to permanent status after two years.
- Access to Argentina’s public healthcare system.
- No investment requirements.
Uruguay
Uruguay is a safe and politically stable country that provides a Residency Visa for Pensioners and Rentiers.
Requirements:
- Proof of a sufficient and stable income, generally around $1,500 USD per month.
- A clean criminal background check.
- Medical examinations.
Benefits:
- Visa holders can apply for permanent residency.
- Access to a high standard of living and excellent public services.
- No minimum stay requirement.
Paraguay
Paraguay offers a Permanent Residency Visa for retirees and investors.
Requirements:
- Proof of a stable pension or investment of at least $5,000 USD in a local bank.
- A clean criminal background check.
- Health certificate.
Benefits:
- Low taxes and a low cost of living.
- Permanent residency can lead to Paraguayan citizenship after three years.
- No requirement to purchase property.
Conclusion
For retirees looking to settle in South America, options vary depending on income levels, lifestyle preferences, and residency goals. Colombia, Ecuador, and Peru are some of the most popular choices due to their low cost of living and accessible visa requirements. Argentina and Uruguay appeal to those seeking a more developed infrastructure and healthcare system. Meanwhile, Paraguay offers one of the easiest pathways to permanent residency. Regardless of the choice, South America provides retirees with a warm climate, rich culture, and a comfortable lifestyle.