What's the best way to add a drop shadow to my UIView

Try this:

UIBezierPath *shadowPath = [UIBezierPath bezierPathWithRect:view.bounds];
view.layer.masksToBounds = NO;
view.layer.shadowColor = [UIColor blackColor].CGColor;
view.layer.shadowOffset = CGSizeMake(0.0f, 5.0f);
view.layer.shadowOpacity = 0.5f;
view.layer.shadowPath = shadowPath.CGPath;

First of all: The UIBezierPath used as shadowPath is crucial. If you don't use it, you might not notice a difference at first, but the keen eye will observe a certain lag occurring during events like rotating the device and/or similar. It's an important performance tweak.

Regarding your issue specifically: The important line is view.layer.masksToBounds = NO. It disables the clipping of the view's layer's sublayers that extend further than the view's bounds.

For those wondering what the difference between masksToBounds (on the layer) and the view's own clipToBounds property is: There isn't really any. Toggling one will have an effect on the other. Just a different level of abstraction.

---

Swift 2.2:

override func layoutSubviews()
{
    super.layoutSubviews()

    let shadowPath = UIBezierPath(rect: bounds)
    layer.masksToBounds = false
    layer.shadowColor = UIColor.blackColor().CGColor
    layer.shadowOffset = CGSizeMake(0.0, 5.0)
    layer.shadowOpacity = 0.5
    layer.shadowPath = shadowPath.CGPath
}

---

Swift 3:

override func layoutSubviews()
{
    super.layoutSubviews()

    let shadowPath = UIBezierPath(rect: bounds)
    layer.masksToBounds = false
    layer.shadowColor = UIColor.black.cgColor
    layer.shadowOffset = CGSize(width: 0.0, height: 5.0)
    layer.shadowOpacity = 0.5
    layer.shadowPath = shadowPath.cgPath
}

Wasabii's answer in Swift 2.3:

let shadowPath = UIBezierPath(rect: view.bounds)
view.layer.masksToBounds = false
view.layer.shadowColor = UIColor.blackColor().CGColor
view.layer.shadowOffset = CGSize(width: 0, height: 0.5)
view.layer.shadowOpacity = 0.2
view.layer.shadowPath = shadowPath.CGPath

And in Swift 3/4/5:

let shadowPath = UIBezierPath(rect: view.bounds)
view.layer.masksToBounds = false
view.layer.shadowColor = UIColor.black.cgColor
view.layer.shadowOffset = CGSize(width: 0, height: 0.5)
view.layer.shadowOpacity = 0.2
view.layer.shadowPath = shadowPath.cgPath

Put this code in layoutSubviews() if you're using AutoLayout.

In SwiftUI, this is all much easier:

Color.yellow  // or whatever your view
    .shadow(radius: 3)
    .frame(width: 200, height: 100)

The trick is defining the masksToBounds property of your view's layer properly:

view.layer.masksToBounds = NO;

and it should work.

(Source)