Latin America has become one of the most straightforward regions in the world for securing residency. Most countries in the region offer simple, affordable, and flexible programs that don’t overwhelm you with bureaucracy or require excessive financial thresholds. Additionally, a lower cost of living, straightforward application processes, and an open culture that enables expats to get involved quickly are major pluses.
In a world where many governments are tightening controls and raising barriers, Latin America continues to offer practical, freedom-oriented residency paths that respect personal choice and mobility.
In this article, I’ll introduce you to the easiest countries to obtain second residency in Latin America and explain how to choose the best option for yourself in 2026.
Easy residency for expats: countries with fast processing, affordable financial requirements, a short path to permanent residency, and flexible stay rules—especially strong options in Latin America
Some countries are simply easier for expats because their systems are designed with less friction. Key factors include:
Fast Processing: Approvals take a few weeks to a few months, not years.
Low Financial Requirements: The application's financial requirements should be manageable, with clear income, savings, or investment thresholds.
Quick Path To Permanent Residency: Moving from temporary to long-term status should be relatively fast, without endless renewals.
Flexible Physical Presence Rules: You can maintain residency without being required to live full-time in the country.
When these elements come together, the residency process becomes predictable, affordable, and practical, which is exactly what expats look for.
Most countries don’t offer all of the factors described above. Even if they offer easy residency, they may still lack qualities that align with your priorities. However, many countries in Latin America stand out for offering straightforward residency options alongside strong living conditions that suit a wide range of lifestyle preferences. Below are brief explanations of the countries in Latin America that offer simple residency and multiple benefits.
Colombia makes residency easy: multiple visa paths (work, invest, property, pension), relatively low requirements, and permanent residency after 5 years
Colombia keeps its residency system open, with multiple visa categories that suit various types of expats. You can qualify through employment, investment, pension income, or even property ownership. The following are your options:
Employment Visa: This visa is for foreigners employed by a Colombian company.
Business Investor Visa: You must invest at least 100 times the minimum wage (roughly $25,000 USD) in a Colombian business for this visa type.
Skilled Professional Visa: This visa is for individuals with technical expertise or specialized qualifications required in Colombia.
Property Investment Visa: You must invest 350 times the minimum wage (about $72,000 USD) in real estate with this visa.
Pensionista / Income Visa: You must demonstrate a pension of 3 times the minimum wage (approximately $1,000 USD) or investment income of 10 times the minimum wage (roughly $3,800 USD) to apply for the Pensionista/Income Visa.
These options make Colombia accessible to retirees, investors, remote professionals, and those seeking local employment. The financial requirements are relatively low, especially compared with those in other countries in the region. After five years of temporary residency, you can apply for permanent residency.
Colombia remains popular because of its affordable cost of living, modern cities, and strong, welcoming expat communities. It’s practical, flexible, and easy to navigate for anyone looking to settle in Latin America without significant financial or bureaucratic barriers.
Brazil is one of the most flexible and attractive Latin American residency options because of its range of pathways and relatively moderate requirements. Whether you’re a retiree, an investor, a worker, or a family member, Brazil has a route that fits your situation.
Retirement / Passive-Income Visa: This visa is designed for retirees and remote workers. You must show a stable monthly income (roughly $2,000 USD). This path is commonly used by expats who want long-term residence without working in Brazil.
Temporary Work Visa (VITEM V): This visa requires a job offer from a Brazilian employer and allows you to legally live and work in Brazil for up to two years.
Real Estate Investment Visa: This is a direct path to long-term residency through property ownership. The minimum investment threshold is approximately $200,000 USD.
Reduced minimum in the Northeast: The minimum investment threshold for this visa is approximately $145,000 USD. The visa is initially granted for four years. After this period, it can be converted into an indefinite stay, provided you maintain your investment and meet the presence requirements (at least 14 days in Brazil every two years).
Business Investment Visa: Foreigners investing in a Brazilian company are also eligible for residency. The minimum investment is roughly $105,000 USD. For innovation or tech projects, the minimum investment threshold is approximately $31,000 USD. You must present a business plan detailing job creation or economic impact. Brazil takes business investment seriously and rewards it with a clear residency path.
If you hold permanent residency in Brazil, you can apply for citizenship after approximately 4 years of legal residence. With its large and diverse economy and culture, Brazil offers everything from modern cities to tropical beaches.
Uruguay offers one of Latin America’s simplest residency paths: stable and safe, easy permanent residency with no official income minimum—just proof of support and real-time in-country
Uruguay is one of the most straightforward residency destinations in Latin America. The country is stable, safe, socially open, and highly developed. Its flexible residency requirements make Uruguay accessible to expats, retirees, and remote workers.
Temporary Residency: This option is valid for two years and may be renewed once, for a total of four years. Temporary residency is ideal for those testing the waters before committing to a long-term stay.
Permanent Residency: The permanent residency process is straightforward. You enter as a tourist, gather your documents, and apply directly at the Dirección Nacional de Migración. Uruguay requires proof of income, but there is no official minimum; it only requires evidence that you can support yourself. This visa is for those who intend to live in Uruguay for extended periods and requires demonstrating ties to Uruguay. A longer absence may induce cancellation of your permanent residency.
There are some trade-offs to residency here. The cost of living is higher than in most of the region, and taxes can be significant if you become a tax resident. You must spend real time in Uruguay while your residency is being processed, and after you receive permanent residency, you cannot stay outside the country for more than three years; otherwise, your residency will be cancelled.
Argentina remains one of the easiest and most flexible residency destinations in Latin America. The financial requirements are low, and the application process is straightforward.
Rentista Visa: This is the most popular option for expats. You qualify by proving roughly $1,400 USD/month in stable foreign income. This can come from rental properties, dividends, or investment returns. Argentina classifies rentistas as “non-competing” residents because they support themselves without entering the local labour market. The Rentista visa is valid for 1 year and is renewable annually.
Pensioner Visa: This is designed for retirees with a guaranteed monthly pension. Requirements are similar to those for the rentista visa, with proof of approximately $1,400/month in pension income. The Pensioner visa provides the same rights and renewals as the Rentista permit.
Other Temporary Residency Categories: Argentina offers residency for a wide range of situations, including workers, students, researchers, athletes, artists, religious workers, and family members of residents. MERCOSUR nationals can also benefit from simplified and faster procedures.
Permanent Residency: Permanent residency is possible after two years of residency in Argentina on a temporary visa. Permanent residents can live in Argentina indefinitely and can freely enter or exit the country as long as the residency remains valid.
However, Argentina also comes with some downsides. Although President Javier Milei is taming inflation quickly, it remains high. This can create peso volatility, making everyday finances difficult. If you become a tax resident, the tax burden is high and complex.
Costa Rica is one of the rising stars of Latin America, with its stable democracy, free market economy, peaceful society, and territorial tax system. Costa Rica’s private healthcare system is a major plus due to its high quality and affordable costs. In addition to these strong qualifications, Costa Rica is one of the easiest countries in Latin America to obtain residency, thanks to its straightforward Rentista and Pensionado programs.
The Pensionado Visa: This visa is for individuals earning at least $1,000 USD per month in pension income. It lasts two years and can be renewed as long as your pension continues. You cannot work for a Costa Rican employer, but you can own or start your own business.
The Rentista Visa: This visa is ideal for everyone except retirees. It requires either $2,500 USD per month in income or a $60,000 USD deposit in a Costa Rican bank. It lasts for two years, is renewable, and allows you to operate a business even if you cannot be an employee.
Both visas have clear income requirements, the process is predictable, and you only need to spend one day per year in the country to maintain your residency. After three years as a temporary resident, you can apply for permanent residency.
Mexico has flexible residency options: reasonable financial requirements, 4 years to permanent residency, and no strict presence rules—ideal for expats, digital nomads, and investors, with strong hubs like Mérida, Mexico City, and Puerto Vallarta
Mexico offers flexible residency options and is one of the most popular expat destinations in North America. The financial requirements are very reasonable, and after four years of temporary residency, you can transition to permanent residency. With no strict physical presence rules, Mexico is especially appealing to digital nomads and investors seeking maximum flexibility. Combine this with modern cities, strong expat hubs like Mérida, Mexico City, and Puerto Vallarta, and a high quality of life, and it’s easy to see why Mexico is one of the top choices. Here are the different visa options:
Temporary Resident Visa: This is the most common option for expats. It allows you to live in Mexico for up to four years. To qualify, you must show financial solvency—either a monthly income of roughly $2,500–$3,500 USD or savings of roughly $45,000–$60,000 USD. Temporary residents cannot work for a Mexican employer without a work permit, but digital nomads and remote workers can work for foreign companies without issue.
Temporary Resident Visa With Work Permit: A Mexican Temporary Resident Visa with Work Permit requires the employer to first obtain authorization from the National Migration Institute (INM). Once authorized, the applicant receives a Unique Processing Number (NUT) to schedule a consulate interview
Temporary Resident Investor Visa: The temporary resident investor visa allows you to stay in Mexico for up to 4 years based on qualifying investments. You cannot work for a Mexican employer, but you can manage your own investments. To qualify, you must meet one of the following criteria:
Invest approximately $200,000 USD in a Mexican company.
Owns real estate worth roughly $400,000 USD.
Invest in a Mexican business that directly employs at least three workers.
Permanent Resident Visa: The visa is for foreigners who want to live in Mexico for more than 4 years. In addition to temporary visa holders with four years in Mexico, retirees and individuals with close family ties to a Mexican citizen or permanent resident (such as a parent, child, or sibling) may apply for this visa, provided they meet the financial requirements.
Mexico’s residency system is flexible, modern, and designed for attracting foreign talent and capital. Whether you're retiring, running an online business, investing, or simply looking for an exotic place to live, Mexico offers visa options for you.
Panama is a top Plan-B residency hub: stable, modern, territorial tax system, and you don’t need to live there full-time. Options like Pensionado, Friendly Nations, and Investor visas make it fast, flexible, and expat-friendly
Panama has been my home for over five years, where I raise my family and build my business on my own terms. With its stability, modern infrastructure, and territorial tax system, Panama can help your dreams come true, just as it does for many expats each year.
Panama offers simple, flexible options for expats with diverse requirements. Even better, you don’t need to live in Panama full-time—periodic visits are enough to maintain your residency. This is why Panama has become one of the most attractive and flexible Plan-B destinations in the world. Here are your best options:
Pensionado Visa: Panama’s Pensionado program is famous worldwide for being simple, affordable, and retiree-friendly. The minimum income requirement is $1,000 USD per month from a pension, making it accessible to many retirees. The visa also comes with a wide range of discounts and benefits in the country. It’s an ideal option for retirees seeking a territorial tax system, warm weather, and an easy yet modern lifestyle.
Friendly Nations Visa: This is one of the fastest paths to permanent residency for citizens of more than 50 approved countries. If you buy a property worth $200,000 USD, make a $200,000 USD bank deposit, or have a job contract with a Panamanian company, this residency path can be open to you. It grants two-year provisional residency, after which you can apply for permanent residency status.
Qualified Investor Visa: This visa is for those who want immediate permanent residency. You can choose from the following investment options: $300,000 USD real estate investment, $500,000 USD investment in Panamanian securities, or $750,000 USD fixed-term bank deposit. Although the investment threshold is relatively high, the process is fast—often 30 days—and requires you to visit Panama only once every two years to maintain residency.
Panama is efficient, predictable, and incredibly welcoming to foreigners. Whether you are a retiree, investor, remote worker, or someone building a Plan-B, Panama offers one of the most straightforward residency systems anywhere.
Paraguay is Latin America’s easiest residency option: fast, affordable, territorial tax system, and no full-time stay required. Temporary residency takes ~3 months, then upgrades to permanent with simple financial proof
Paraguay is a true hidden gem—an affordable, peaceful country with modern amenities—that most expats overlook. With its open-door approach and territorial tax system, Paraguay actively welcomes foreigners who want to live, invest, and contribute to the country’s growth. Without question, Paraguay is the easiest residency option in Latin America and one of the last genuinely simple, fast, and affordable programs available. Here are the options:
Temporary Residency: This visa is one of the rarest of its kind. It has no cost beyond application fees because there is no investment requirement. It gives you the right to live, work, study, and do business in Paraguay, and you don’t need to live in the country full-time. The processing time is approximately three months, and the government will issue your Paraguayan ID (cédula) once your application is approved. This visa is valid for two years.
Permanent Residency: After your two-year temporary residency, you can upgrade to permanent residency. This step is simple and requires only updated documents and proof of basic financial means. With permanent residency, you will be granted indefinite legal status (no expiration date), 10-year ID renewal (simple and inexpensive), and stronger ties for banking, investments, and asset protection. This long-term stability is extremely valuable at a time when many countries are tightening their immigration rules.
If you want to see Paraguay firsthand, meet trusted professionals, and complete your residency process the right way, Expat Money will meet you on the ground, walk you through every step, and help you secure your residency while this opportunity still exists.
Choosing a country for long-term residency as part of your Plan-B requires two key considerations: the visa process requirements and timeline, and whether the country aligns with your lifestyle and personal preferences.
Financial requirements, including minimum income, savings, or investment thresholds, always matter. Buying a property, making a deposit, or investing in a business are distinctive categories.
Fast processing times are also a factor to consider in your decision. Keep in mind that your ultimate goal is to obtain permanent residency, and the time required to transition to permanent status is as important as the application process.
Beyond these points, the tax system you’ll fall under is crucial because it directly affects your income. The best approach is to choose a country with a territorial tax system—or at least a tax environment with lower rates.
Once you narrow the options, evaluate the countries based on lifestyle factors that matter to you. Climate, cost of living, culture, language, and safety all make a difference. Do your due diligence before making any decision. The “best” residency is the one that fits your goals, including tax efficiency, investment protection, mobility, or simply building a comfortable new life abroad.
In 2026, Latin America offers some of the world’s easiest residencies: clear rules, low requirements, and fast paths to permanent status. Choose based on taxes, mobility, and long-term goals, because these opportunities won’t get easier
As we move into 2026, Latin America offers some of the easiest residency options in the world. Countries such as Paraguay, Panama, Mexico, Costa Rica, Argentina, Uruguay, Brazil, and Colombia have straightforward rules, low financial requirements, and clear paths to permanent residency. These programs are much more open and affordable than those in North America or Europe.
Your choice of permanent residency should align with your tax plan, mobility needs, and long-term financial goals. Countries with territorial tax systems, flexible stay rules, and investor-friendly policies can make a big difference—especially as governments tighten control and raise taxes.
I’ve helped many expats find their ideal expat destination and watch them build lives aligned with their goals. Time is passing quickly, and neither world conditions nor residency requirements are getting any easier. There is no better time than today for you to find a country that better fits your long-term goals. Start your search by downloading our free report on Plan-B Residencies & Instant Citizenships.