Retire in Ireland: the Stamp 0 retirement visa income requirement and a life annuity
Written by Hans Goldstein, licensed insurance agent · CA 4273294Short answer: To retire in Ireland, Americans apply for Stamp 0 (persons of independent means), the closest thing to an Ireland retirement visa, which in 2026 asks for an individual income of €50,000 a year, about $4,875 a month at $1.17 per euro. Ireland publishes no couple figure; advisers commonly read it as €50,000 for each adult, €100,000 for a couple (about $9,750 a month), so get Ireland’s answer in writing. You also need access to a separate lump sum “equal to, for example, the price of a residential dwelling in the State” (Immigration Service Delivery, updated June 25, 2026). Ireland says finances must be pension income or readily accessible funds, so a life-only SPIA is a direct way to build the income part, and Ireland has no wealth tax.
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Income rules and taxes by country: Norway, Switzerland, Sweden, Italy, Spain, Malta and more, plus how a lifetime annuity fits.
The Ireland retirement visa requirement in 2026
Ireland has no retirement visa in the usual sense. Americans who want to retire in Ireland apply to the Department of Justice for a Stamp 0 permission as a person of independent means, using the TPER application form, before they arrive. US citizens do not need a visa to enter, but the approval letter must come first.
| Test | Official wording | About USD |
|---|---|---|
| Income | “An individual income of €50,000 per year” | $58,500 a year, $4,875 a month |
| Lump sum | Access to a sum for sudden major expenses, equal to, for example, the price of a home in Ireland | No fixed figure published |
| Form of finances | Investment sums are not normally measured, and finances must be in the form of pension income or readily accessible funds | |
| Verification | Spreadsheet in euros, monthly income and spending, certified by an Irish accountancy firm | |
| Health | Private medical insurance with full cover in private hospitals; no public services or benefits | |
| Processing | Four months on average |
FX assumption: €1 = $1.17, a planning rate; the ECB reference rate was $1.1225 on 2 October 2026, so these dollar figures include about 4% of headroom.
Why Ireland and a lifetime annuity fit
Most countries let a big balance stand in for income. Ireland is narrower: it says investment sums are not normally measured and that it wants pension income or readily accessible funds. Someone with $1.5 million in a brokerage account and modest Social Security can fall short of €50,000 of annual income on paper. A life-only SPIA turns part of that balance into a pension-like payment, which is the kind of income the Irish accountant can list and certify.
Two parts, two jobs:
- Income: Social Security, any pension and the SPIA together reach €50,000 a year per person.
- Lump sum: kept liquid and separate. The premium you pay for a SPIA is gone from the lump sum, so plan for both.
- Renewal uses the TPER renewal form, so the same proof is needed again. Level lifetime income makes each renewal look like the first.
Why I write about this. My mom is Norwegian, my dad is American, and they’re planning the move from the US to Norway. My mom is the sponsor (the host, or “reference person” in UDI’s words), so Norway’s income test falls on her income, not my dad’s. UDI told us in writing that money in an account does not count as income, and only lifelong income does. Their savings were not the problem; the paperwork wanted a monthly number in the host’s name. The rules in Ireland are different, but the problem is the same one many retirees hit: the income test, not the net worth. I’m writing this to help others in the same boat as my parents. Read how we worked through the Norway income requirement.
In the same boat? Let’s run your numbers
See roughly what a lifetime annuity would cost to close your income gap, then get my personal read by email. I can help while you still live in the US.
Estimates use the September 9, 2026 ImmediateAnnuities.com payout survey (life only) and a 15% cushion. Illustrative, not a quote.
Which annuity counts. A life-only SPIA, a joint and survivor SPIA, or an existing deferred annuity or MYGA converted to lifetime payments reads as pension-type income. A period-certain annuity, an income rider (GLWB) where an account value can still be cashed out, or an annuity still accumulating reads as savings, which Ireland says it does not normally measure.
Single or married: how much income you need to retire in Ireland
| Household (2026) | Per year | About USD a month | Whose income |
|---|---|---|---|
| Single person | €50,000 | $4,875 | Your own (“an individual income”) |
| Married couple | No figure published; per-person reading €100,000 | $9,750 | Commonly read as each spouse in his or her own name |
| Each dependent | No figure published | Ask the Department |
Ireland’s guidance says “an individual income of €50,000 per year” and says nothing about spouses. Advisers commonly read that per person. If each adult must show €50,000, two Social Security checks of $2,000 and $1,200 leave a gap of about $6,550 a month, before headroom.
When only one spouse has income. Under the per-person reading, the non-earning spouse needs €50,000 of income in his or her own name, so the fix is a lifetime annuity owned by and paid to that spouse, priced on that spouse’s own age and sex, bought while you are both still US residents. One contract per spouse, each sized to that spouse’s shortfall, keeps the accountant’s spreadsheet clean. If the Department instead accepts the spouse as a dependent on the household income, the premium drops sharply, so get Ireland’s answer in writing before you buy.
A US tax note (general information, confirm with a tax adviser): funding your spouse’s annuity is a gift. Gifts between two US-citizen spouses are unlimited. To a spouse who is not a US citizen, the 2026 annual exclusion is $194,000; above that you file Form 709, and generally no tax is due. In Ireland that matters: an $800,000 premium for a non-citizen wife is well over the exclusion.
Example: a 62-year-old American moving to Ireland
Payout at age 62 from the ImmediateAnnuities.com survey of September 9, 2026, life-only, per $100,000 per month: man $603 average ($660 best quote), woman $582 average ($637 best quote). Premium = monthly bar / payout per $100,000 x $100,000, rounded. Illustrative, not a quote.
| Age 62, no other income | Monthly bar | Premium, average payout | Premium, best quote |
|---|---|---|---|
| Single man | $4,875 | $808,000 | $739,000 |
| Single woman | $4,875 | $838,000 | $765,000 |
| Couple, per-person reading (one contract each) | $9,750 | $1,646,000 | $1,504,000 |
Social Security can start at 62 and is pension income Ireland can count: a single man with $2,000 a month of it needs $2,875 more, about $477,000 at the average rate. A joint and survivor annuity pays less per dollar than single life, so get a quote, and add 10 to 25% headroom for the exchange rate. That is the income part only. Add the lump sum and a year of private health cover. Ireland is a high bar, and the people it suits have real assets: the annuity simply converts some of them into the form Ireland measures.
How the application runs
- Send the TPER form and documents to the Stamp 0, Independent Means Section of the Department in Dublin: passport, birth and marriage certificates, police clearance, health declaration, six months of bank statements, the Irish accountant’s certified statement of yearly income and liabilities, and private medical insurance.
- Wait for the approval letter (about four months on average; incomplete files take longer).
- Travel with the letter. You receive a landing stamp of up to 90 days and must register within that time, by appointment, to receive an Irish Residence Permit card.
- Renew before expiry with the TPER renewal form, again with current proof of income.
How the annuity is taxed: Ireland and the US
The US side
As a US citizen you stay taxable on worldwide income wherever you live. A US single premium immediate annuity bought with after-tax savings is taxed under IRC 72: an exclusion ratio makes part of each payment a non-taxable return of your premium until the premium is recovered. If you bought it with IRA money, every payment is taxable. The foreign earned income exclusion does not cover annuities (IRC 911(b)(1)(B)(i)). Foreign tax on the payments can be credited on Form 1116, through the treaty’s relief article where there is one. Since January 1, 2026, a US citizen with a foreign residence address cannot opt out of federal withholding, even if payments go to a US account (IRC 3405(e)(13), Treas. Reg. 31.3405(e)-1). Withholding is a prepayment, not extra tax. An annuity from a US insurer is not reported on FBAR or Form 8938, and it is not a PFIC.
The treaty
Article 18(2) of the US-Ireland treaty says annuities, defined as a stated sum paid at stated times “during a specified number of years, or for life,” in return for adequate and full consideration, are taxable only in the country where the owner lives. So Ireland gets the first right to tax your SPIA. The saving clause (Article 1(4)) lets the US tax its citizens anyway, and Article 24(3)(c) then treats the income as arising in Ireland to the extent needed to avoid double tax, so the Irish tax becomes creditable on Form 1116.
US Social Security is different: Article 18(1)(b) makes it taxable only in Ireland, and that paragraph is excepted from the saving clause (Article 1(5)(a)), so the US does not tax it for an Irish resident.
The Irish side
- Capital element relief. Under section 788 of the Taxes Consolidation Act 1997, the capital content of each payment from a purchased life annuity is relieved from income tax, and only the balance is income. Revenue sets the capital element as a fixed proportion (purchase price over actuarial value). It applies to life annuities bought from a business that grants annuities on human life, not to annuities bought inside pension plans, so a SPIA bought with IRA money is a question for your Irish adviser.
- Remittance basis. Most Americans who move are not Irish domiciled. Revenue says foreign income is then taxed on the amount actually received in Ireland in the year, not the amount that arises. Money you bring in to live on is remitted, so plan on Irish tax on what you spend there. The treaty credit follows the same rule (Article 24(6)): relief applies only to the part remitted.
- Rates. Taxable income is charged at 20% and 40%, plus the universal social charge; your Irish accountant will run the figure.
Net result
For the annuity, you pay roughly the higher of the Irish and US tax on the taxable part, not both. With the capital element relieved in Ireland and the exclusion ratio in the US, a SPIA bought with after-tax savings is close to tax-neutral compared with drawing the same money down from savings. Get an Irish tax adviser’s written view on how Revenue will fix the capital element for a US contract.
Does Ireland have a wealth tax?
No. PwC states that Ireland does not levy a net wealth tax on individuals (reviewed August 2026), so a US annuity is outside any wealth tax. Capital acquisitions tax on gifts and inheritances is a separate matter for your heirs; a life-only SPIA ends at death and leaves nothing to tax.
Practical rules
- Buy the SPIA while you still have a US address.
- Keep a US bank account for the deposits and show transfers in the accountant’s spreadsheet. With a foreign residence address you cannot opt out of federal withholding (IRC 3405(e)(13)), so the spreadsheet should show the net deposit; withholding is a prepayment, not extra tax.
- Start payments 3 to 12 months before you file, so six months of statements show the income arriving.
- Insurer letter: the amount is payable for the lifetime of the annuitant, no cash value.
- A US SPIA is not reported on FBAR or Form 8938 and is not a PFIC.
The trade-offs, once
A SPIA is irrevocable, level unless you add a cost-of-living rider, paid in dollars against a euro bar, and backed by the issuing insurer’s claims-paying ability. Payouts are lower at younger ages. Size to the gap plus headroom, keep the lump sum liquid, and remember the Department decides each case.
Married? Make the income outlive either of you. In Ireland each spouse may need to meet the figure, so plan on lifetime income in each spouse’s own name. If a single-life annuity is on one spouse and that spouse dies first, the payments stop, and the surviving spouse may have to show income of their own at the next renewal. A joint and survivor annuity, which keeps paying until the second death, or a separate annuity on each spouse closes that gap. Joint and survivor pays less per dollar than single life, so ask for both quotes and compare.
Frequently asked questions
Free annuity gap analysis for Ireland. Tell me your ages, your Social Security or pension, and whether you are single or a couple. I will show how far your income is from the Ireland requirement and what a lifetime annuity would cost to fill the gap, in the sponsor’s or main applicant’s name where that matters.
Related reading
- Moving abroad on a fixed income: hub
- How European countries tax a US annuity
- France long-stay visitor visa
- Italy elective residence visa
- Greece financially independent person visa
- FBAR, FATCA and double taxation
Sources
- Immigration Service Delivery: I want to retire to Ireland (updated June 25, 2026)
- Immigration Service Delivery: Stamp 0 (TPER) renewal form
- US-Ireland income tax treaty (IRS text), Articles 1, 18 and 24
- Revenue: Tax and Duty Manual 05-01-21A, remittance basis of assessment
- Revenue: Notes for Guidance, TCA 1997 Part 30, section 788 purchased life annuities
- PwC Worldwide Tax Summaries: Ireland, other taxes (no net wealth tax)
- IRS Rev. Proc. 2025-32, section 4.42 (2026: $194,000 gifts to a non-citizen spouse)
- 26 U.S.C. 3405 (withholding on pensions and annuities)
- Treas. Reg. 31.3405(e)-1 (no withholding opt-out with a foreign residence address)
- IRS: Comparison of Form 8938 and FBAR requirements
- ImmediateAnnuities.com: immediate annuity rates by age (survey of September 9, 2026)
Goldstein & Co. LLC dba Goldstein Insurance Services · Hans Goldstein, licensed insurance agent, CA lic. #4273294 · NPN 20602398 · 213-414-2808 · hans@hansgoldstein.com
Education, not tax, legal or immigration advice. Rules, thresholds and exchange rates change; confirm with the consulate or immigration authority and a local tax adviser before you act, and get answers in writing. Hans Goldstein is a licensed insurance agent (CA 4273294) and can only offer annuities to residents of states where he is licensed. Annuity payments are guaranteed by the issuing insurer’s claims-paying ability, not by any government. Payout figures are illustrations from a published survey, not quotes. Immediate annuities are generally irrevocable.