Retirement is a time to enjoy life at a slower pace, free from offices, traffic and early school mornings. It is better to spend in countries with a mild climate, accessible healthcare and friendly people. Here’s a guide to where you can move for your retirement.
Rules for choosing a location
When selecting a country for retirement, consider:
- Climate: Do you prefer warm weather all year round or changing seasons?
- Property: Will you rent or buy? Check the conditions for foreigners, taxes and residency options.
- Healthcare: How accessible and high quality is healthcare? Are there English-speaking doctors and insurance options for foreigners?
- Cost of living: Compare prices for food, transportation and utilities – tourist areas are usually more expensive.
- Openness: What visas are available for retirees, how easy is it to obtain residency, and how comfortable is integration?
- Safety – Low costs don’t always mean safety – check crime levels.
Where to retire in Europe?
Europe leads in quality of life, safety and accessibility for retirees. It offers easy travel, well-developed urban infrastructure and reliable healthcare.
Portugal
One of the best countries for retirees, Portugal offers a mild climate, affordable costs, and developed healthcare. The average salary is around €1,000, with minimum monthly expenses of €690 per person (excluding rent). International senior insurance costs €900–1,000 per year.
Property prices: apartments in the north from €250,000, in the capital from €500,000. Rental: Studios in Cascais from €2,000/month, apartments in Lisbon from €4,500/month.
Visa options include the D7 visa, which requires renting a property and showing passive income from €870/month (+50% for spouse, +30% for a child). Citizenship is possible after 5 years. The golden visa is also available with investments of €500,000 in funds, with no residency requirements.
Discover: high taxes, mandatory income declaration for retirees, winter humidity, pickpockets in tourist areas and language barriers outside major cities.
Cyprus
An island with 330 sunny days a year, an English-speaking environment and developed medical care. Foreign residents with a residence permit receive a gesy card -Primary care is free, others covered by insurance or out of pocket. Minimum monthly expenses per person start from €880 (excluding rent and insurance). A couple with occasional meals and entertainment needs about €2,000/month.
Taxes are moderate: retirees pay 0–35% on income or 5% on foreign pensions above €3,420 + 2.65% for GESY contributions. The non-domestic state can optimize taxes.
Residency options include financially independent person permits (income of €2,000/month) or permanent residence through investment by purchasing properties from €300,000. Residency is indefinite, renewed every 5 years.
Disadvantages: Island location means additional travel costs; Cyprus is not in the Schengen zone, so traveling around Europe requires visas.
Greece
Residence is available with income from €2,000/month and rental or purchase of property. The 5-year renewable golden visa grants residency for the entire family with property purchases of €250,000. Options include small apartments near Athens or houses on beautiful Greek islands.
Greek residency allows travel to Schengen. Citizenship is possible after 7 years, subject to residency and a language test. Monthly expenses for a couple start from €1,600. Private clinics offer high-quality care, but public healthcare can become overloaded.
Pros: warm weather, delicious cuisine, friendly locals, respect for the ancient and rich culture.
Cons: Bureaucracy and weaker infrastructure in remote areas.
Other European options: Slovenia: moderate climate, good healthcare, but moving without an EU passport is difficult. Serbia: affordable housing, residence possible by purchasing the property, insurance costs around €20/month.
Other continents
If cultural differences, unfamiliar languages and new cuisines are not barriers, Asia and Latin America offer attractive retirement options.
Malaysia
A 5-year renewable residence visa is available with a deposit of $227,000 and proof of passive income of $9,000/month. The cost of living is almost half that of Lisbon. Medical care is of high quality, and English-speaking doctors are available. Prices for foreigners may be higher than for locals.
Thailand
Retirees can obtain a 1-year renewable visa with income of $1,722/month. No purchase of the property is required. Living costs in Pattaya are approximately 30% lower than in Lisbon. Many retirees prefer villas on the islands, away from the main tourist areas. Quiet and picturesque, but few activities besides the ocean and Thai massages.
Costa Rica
Known as the “American Switzerland”, Costa Rica is environmentally clean, with 98% of its energy coming from renewable sources. Residency requires proof of income of $1,000/month. Foreign income is tax free. Costa Rica is among the most expensive countries in Latin America (monthly expenses are approximately 24% higher than in Buenos Aires, but still cheaper than many European cities.
Astons’ Immigration investment experts They are well versed in global residency and citizenship by investment programs. Contact the company for a free consultation: its specialists will select the optimal program for your needs and provide a ready-made action plan to follow.
