Moving abroad for retirement is thrilling, but it requires tough choices. The trick is finding a place where life is rewarding and cost-effective and where the country appeals to you.
If you’re unsure where to retire abroad? We have the perfect guide for you.
Best places to retire worldwide
Based on our Global Retirement Index
1: Malta – Enchanting island with unique character
2: Spain – Top cultural hotspot
3: Costa Rica – Switzerland of Central America
4: Italy – The art of slow living
5: Greece – Best mix of culture and tradition
6: France – Enjoying the best of life
7: Cyprus (TRNC) – Affordable Mediterranean living
8: Cyprus (Republic) – Europe’s sunshine island
9: Turkey – Culture, climate, value for money
10: Malta – Enchanting island, unique character
11: Panama – Land of opportunities
12: Argentina – Something for everyone
13: Chile – Stargazing and wine
14: Germany – Stability, high standard of living
15: Mexico – Living well, simply and affordably
16: Dubai – Retirement in style and splendor
17: Malaysia – Top Asian retirement destination
18: Paraguay – Most affordable in Latin America
19: Colombia – Colorful and Captivating
20: Albania – Europe’s last unturned stone
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Read on to find out why these countries are the best countries to retire in the world and discover which countries are best for you.
1: Portugal
Seeking all the essential elements for a comfortable retirement without breaking the bank? Portugal might tick all your boxes!
Have you ever wondered why Portugal is becoming a popular choice for retirees? The answer is simple: this beautiful European nation offers an amazing quality of life at a reasonable cost.
Love the sun? Then Portugal could be your ideal place to retire. It’s blessed with a warm, sunny climate that promises over 3,000 hours of sunshine every year.
Add to that its high life expectancy, charming local culture, and competitive real estate prices, and it’s easy to see why Portugal has made its way onto our list.
But that’s not all. Portugal is also safe with a modern infrastructure, friendly locals, and a quality healthcare system. All these factors make Portugal an appealing and affordable place for retirement.
With all these traits in its favor, it assures you of a sunny, contented, and reasonably affordable lifestyle.
Highlights:
- D7 visa financial requirements – minimum €12,000 per year.
- A reliable health plan for a couple – from $846 a month.
- Residency for investors under the Golden Visa program
Read more about living in Portugal, healthcare, visa options, and the NHR – a special tax regime for foreign retirees- in our Living In Portugal guide. Our Retiring To Portugal guide will help you plan your move to Portugal as an expat retiree.
Our Living In Portugal After Brexit guide will help UK citizens navigate the post-Brexit rules and regulations when moving to Portugal.
2: Spain
When it comes to the richness of culture, sunshine, and warm weather, no other country quite matches Spain. Is it any surprise that it’s a favored destination among retirees seeking to make the most of their new life abroad?
Spain is an enticing retirement option with its warm climate, abundance of activities, and diverse landscapes.
But let’s not forget about money matters. To become a resident, you must demonstrate a higher income in Spain than in Portugal. And sadly, Spain doesn’t give any special tax benefits for retirees.
But don’t let this deter you- affordable options are still available, specifically in areas like the Spanish Costas, perfect for a leisurely retired life.
You can get a cozy 2-bedroom flat in Alicante, located in Costa Blanca, for around $180,000. If you prefer something closer to the Mediterranean Sea, a similar apartment in Manilva, Malaga, in Costa del Sol, boasts stunning ocean views for roughly $220,000. Imagine enjoying your morning coffee while taking in the ocean view from your balcony.
Of course, Spain has a lot more to offer than just gorgeous views. Spain has you covered if you’re looking for a place with high living standards. It has the second highest life expectancy in the world, next to Switzerland, and is known for its excellent and cost-effective healthcare. It’s also one of the safest countries in the world, making it a great option for a comfortable retirement.
Highlights:
- Non-lucrative visa income requirements – minimum €26,000 ($29,500) per year.
- A 2-bed apartment on the beachfront, in the heart of Águilas, Murcia, with sea views – €110,000 € ($125,000).
- One of the lowest prices for health coverage – from $786 a month for a couple.
Read more about retiring in Spain, Spanish healthcare, visa options, taxes, and more in our Living In Spain guide.
All the information on moving post-Brexit is in our Living In Spain After Brexit guide for UK citizens.
3: Costa Rica
Costa Rica has become a popular retirement choice, beating other American and European options.
Wondering what makes it special? Picture stunning views, peaceful beaches, amazing national parks, friendly locals, and a strong focus on wellness. It’s a one-of-a-kind mix that’s easy to adore!
Although it’s the most expensive South or Central American country, it’s noticeably cheaper than the European countries that surround it on our list.
You can find a lovely detached house in Jaco for around $120,000 or a secluded villa (with a pool!) for around $550,000.
Retirement visa income requirements are considerably lower than in Spain and Italy, and, better still, you don’t have to pay income tax!
If all this sounds too good to be true, it nearly is.
The only thing Costa Rica really falls down on is its national infrastructure.
There are plenty of unmade roads, but this isn’t a massive deal, and the amazing scenery certainly compensates for the extra time you might spend on the road!
Highlights:
- Pensionado Visa requires an income of just $1000 a month.
- There are no taxes on pension or investment income.
- Live green – more than 98% of its energy is renewable.
Read more about retiring to Costa Rica, the pros and cons, the cost of living, residency options, and more in our Living In Costa Rica guide.
4: Italy
Italy, known worldwide for its culture, earns its spot at number 4 mostly because of its amazing cultural appeal.
While Italy may not be the cheapest option, it excels in many other aspects, such as its superb climate, variety of beautiful locales, and extensive healthcare facilities, which contribute to having one of the highest lifespan scores on our list.
The cost of living in Italy can be a significant consideration due to its relatively high visa income requirements, which exceed those of Spain. Property costs vary greatly depending on the location.
For instance, a 2-bed apartment on the Adriatic Coast might only set you back $180,000, but a similar property on Lake Como could come with a $1.8 million price tag!
A potential way around these high property costs is taking part in Italy’s €1 property scheme. Keep in mind, though, that you would likely need to have funds set aside for refurbishments. But think of the fun – it could be your own little ‘Escape to the Chateau’ style project!
If you’re seeking more affordable options with stunning vistas, explore the southern regions of Italy.
Ultimately, Italy provides every essential element you might be seeking for your dream retirement, along with many delightful extras.
- Pensioners with a foreign-sourced income are taxed at a flat rate of 7% for the first ten years of residency if they move to Southern Italy.
- The elective residency visa (also known as the retirement visa) income requires a minimum of €31,000 ($35,000) a year for a single person.
- A reliable international health plan for a couple starts from $805 per month.
To learn more about retiring to Italy, your visa options and requirements, the cost of living, pros and cons, and more, read our Living In Italy guide.
5: Greece
Tourists have always loved Greece for its rich culture; now, more of us are choosing it as an ideal retirement destination.
It offers the same 7% flat tax rate for the first ten years of residency as Italy does, and property is considerably cheaper than in comparative European countries.
As with other Mediterranean countries, Greece has a reputation for great cuisine, a slow pace of living, and a climate that begs for outdoor living.
All this translates into a decent life expectancy (just ahead of Portugal) and flexibility in where (and how) you live while enjoying a Greek lifestyle.
One notable thing about Greece – more so than other tourist-heavy countries – is the clear difference between the high and low tourist seasons.
During winter, some islands can feel almost deserted and too quiet for most.
However, if a peaceful lifestyle is what you love most, this could be exactly what you’re looking for!
Highlights:
- A 4-bed house with Mediterranean sea views in Chania, Crete (a popular expert destination) can be found for around $283,000, enough to qualify you for Greek residency under the residence-by-investment program for non-EU citizens.
- Income requirements for a Financially Independent Person visa (the best option for retirement) – €2,000 a month for a single person.
- An international healthcare plan for a couple starts from $918 per month.
To learn more about living in Greece, residency options, the cost of living, taxation, and more, read our Living In Greece guide.
6: France
France ticks plenty of boxes as one of Europe’s best retirement destinations.
It’s well situated (and connected) within Europe, making it an ideal base for globe hoppers.
It’s safe, has great national infrastructure and healthcare services, and is often the benchmark for work-life balance.
After all, nothing says quality time, like a two-hour lunch break washed down with a few glasses of local wine.
On that subject, France has an incredible food and drink scene. This can come at a cost if you are not mindful of where in France you choose to live.
For example, property prices in Paris or the glitzy French Riviera need exceptionally deep pockets.
Don’t despair, though.
There are some amazing bargains if you research the regions well. You can find a 3-bed home in Normandy, Burgundy, or Lille for as little as $120,000.
Southern France is typically more expensive, but even in Provence, you can find an affordable property.
Highlights:
- If you take a company pension as a lump sum, you can qualify for a 7.5% flat tax with an uncapped 10% allowance, making France low-tax for retirees. Professional advice is a must!
- International healthcare for a couple starts from around $895 a month.
- Renovation properties can cost as little as $25,000.
You will find more information on living in France, property matters, the pros and cons, visa details, and more in our Living In France guide.
7: North Cyprus TRNC
Understandably, most of Cyprus’s benefits also apply to North Cyprus.
The biggest difference is that it falls under the Turkish administration, which impacts immigration rules.
A massive advantage of living in North Cyprus is no tax on retirement income.
As such, it makes for an attractive choice, especially if you are a citizen of one of those countries that don’t need a visa to visit South Cyprus (US, UK, Canada, and many others).
Doing so means you can enjoy all the benefits of South Cyprus while residing there with a much lower cost of living.
Life in North Cyprus is very affordable.
You can find a 3-bed house in great condition with a swimming pool close to Girne (Kyrenia) for around $170,000. A 2-bed apartment in a popular location starts from $75,000.
You can rent a 2-bed apartment in the center of Kyrenia for as little as $450 a month.
A health insurance policy will cost around $928 for a couple, a few hundred dollars cheaper than South Cyprus.
However, you will find that local private insurance is really cheap, while medical services are well-developed and the hospitals are modern and well equipped.
Highlights:
- No tax on retirement income.
- The same sunshine as in the Republic of Cyprus.
- Beautiful coastline and beaches, plus South Cyprus shopping and infrastructure available as Brits, USA citizens, Canadians, etc., can cross the border without a special visa.
To learn more about moving to North Cyprus, how much it costs, and the paperwork involved, visit our Living In North Cyprus guide. For further questions on retirement, read our Retiring To North Cyprus FAQ.
8: Cyprus Republic
Cyprus is a popular European holiday destination and stands out for permanent retirement.
The country has a robust infrastructure and life expectancy, and the cost of living is roughly the same as in Spain.
Considering it’s an island, the property isn’t too expensive. You can find a 2-bed apartment in Larnaca for around $120,000.
But if you buy a house for a minimum of $350,000 and can prove an annual income of $30,000, you’ll get permanent residency under the residency-by-investment program.
One of its biggest draws is the weather – at 3,500 hours, Cyprus gets the most annual sunshine in Europe. However, this means very hot summers, so ensure your new house has air conditioning!
Highlights:
- A flexible tax system for retirees allows you to choose how to pay taxes every year: you can opt either for a 5% flat rate or the tiered system. If your annual income exceeds €25,000, the flat rate option starts saving you money.
- Well-connected and easy to travel to and from.
You can find more information about retiring to Cyprus, its healthcare, taxes, residency requirements, and more in our Living In Cyprus guide.
9: Turkey
Speaking of Turkish jurisdictions, Turkey itself is next on our list.
It’s a great option for retirees because there’s no tax on pensions, and the cost of living is super low.
A property can cost as little as $50,000 for a 2-bedroom apartment in Antalya, although a nicer apartment in the same area costs around $140,000.
Buying $400,000 worth of property gets you a full Turkish passport, making it an attractive option for expats. You can find more details in our Buying A Property In Turkey guide.
The climate is great, the country is rich in natural beauty, and it is breathtaking in some regions.
Turkey has a distinct culture, a fascinating blend of West and East.
You won’t find many places like it, and this, along with its inexpensive lifestyle, is arguably its biggest draw.
Highlights:
- Very cheap citizenship for investment option – $400,000 worth of property gets you a Turkish passport.
- Good healthcare – one of the top destinations in the world for medical tourism. Local private healthcare is very affordable.
- Simplified residency process – everything is online now.
- There is no tax on pensions.
To learn more about living in Turkey, the cost of living, healthcare, where expats live, and more, read our Living In Turkey guide.
Plus, we have a great guide on the best places to live in Turkey, which you’ll also find useful.
10: Malta
Rounding out the top 10 is Malta, a tiny island between Italy and Africa.
Many expats say that from the start, you either fall in love with Malta or don’t get it at all.
Malta can be expensive, noisy, and dusty, but if you love what it offers, the drawbacks won’t get in the way.
Malta is sunny, rich in history and heritage, relaxed, and safe. Despite being the tenth-smallest country in the world, property prices are still affordable.
Premium locations with great sea views can be pricey, but there are bargains if you venture off the coast.
For example, you can find a 2-bed apartment between Bugibba and St Paul’s Bay, close to modern amenities, with no sea views but not far from the coast, for around €155,000 ($176,000).
Malta has a special retirement program. To qualify, you must purchase or rent a property of a certain value and meet a few other conditions. You can find more details on this in our Living In Malta guide.
Tip: Are you looking for a peaceful retreat? Go to Gozo, you won’t regret it.
Malta’s not for everyone; it’s a pretty small island. But if size doesn’t matter, Malta could be the ideal place to enjoy your golden years.
Highlights:
- It is an epic location, as proved by how many great TV dramas and films were filmed there (Game of Thrones, Troy, and Gladiator, among others).
- It is easy to qualify for the retirement program, as you only need to own or rent a property in Malta as your principal place of residence in the world.
- 15% flat tax under the retirement program on income remitted in Malta.
- Malta’s Golden Visa scheme is the fastest route to EU citizenship.
11: Panama
Panama isn’t a gigantic name on the global tourist scene, but its reputation among American retirees and other expats looking for an enticing retirement location with a warm tropical climate continues to grow.
The retirement visa income requirement is just $ 1,000 per month. However, it should be lifelong and, when granted, comes with a wide range of benefits.
These include duty exemption on imported cars and household goods and, more unusually, a 50% discount on cinema tickets and a 25% discount at restaurants.
Its visa benefits and location in Central America have led to a cosmopolitan and diverse community that’s easy to integrate into.
Property is comparatively more expensive than in Costa Rica, its neighbor.
A 2-bed apartment in Bocas del Toro in Panama can set you back around $313,000.
However, Panama’s main advantage over Costa Rica is the visa benefits mentioned above. Besides, Panama has probably the best infrastructure in the entire region.
Then, there are beaches straddled along the Pacific and Caribbean coastline, with gorgeous surrounding landscapes. Even if you live in Panama City itself (as many expats do), the best beaches are just a short drive away.
Highlights:
- Panama Retirement Visas (Visa Pensionado) – a minimum of $1,000 monthly to qualify.
- The visa comes with a huge list of discounts.
- No income tax on pensions.
To learn more about the opportunities available to expats, including the pros, cons, costs, and lifestyle, read our Living In Panama guide.
Check out our Retiring To Panama guide for further information.
12: Argentina
Argentina is Chile’s next-door neighbor, so it is fairly similar in terms of cultural appeal and weather.
However, as the second-largest country in South America (and the largest Spanish-speaking country in the world), there’s much greater diversity in where to live.
Argentina is a fascinating mix of Latin American and European cultures. Buenos Aires – the Paris of South America- has a strong European feel.
The country is huge and stunning, with 35 national parks. There’s something for everyone. Whatever you are looking for, you can almost certainly find it.
Much like its neighboring countries, you don’t have to pay income tax on pension income. Better yet, the cost of living is almost half that of Chile.
There are two visa options: the rentista visa for expats with passive income and the pensionado visa if you have a state lifelong pension.
Income requirements for the Pensionado visa – A minimum of 30,000 Argentine Pesos a month should come from the social security system in the country of origin.
For the rentista (the most suitable for retirees with various passive income sources), you need to demonstrate a minimum of $2,000 per month in passive income.
Argentina’s healthcare infrastructure puts it on par with more developed nations.
An international healthcare policy for a couple starts from around $817 a month, making it cheaper than in some European countries.
Highlights:
- You could buy a vineyard in Tunuyan for a cool $300,000!
- Argentinian cuisine is known for its religious reverence for steak.
- It is modern and urbanized, and for the more adventurous, rural areas have incredibly affordable properties.
Find out more in our Living In Argentina guide.
13: Chile
In most metrics, Chile is on par with its Central American neighbors.
Property prices are similar to those in Panama, although visa income requirements are higher.
You also don’t pay income tax on pensions, so you automatically have more money to play with than elsewhere.
Property in its capital, Santiago, is more expensive than elsewhere, but you can get some great value for your money.
Spending between $670,000 and $1.3 million could get you anything from a 2-bed apartment to a 5-bed villa with a pool.
However, if you’re up for a more interesting project, spending $43,000 could get you a riverside plot of land in Los Lagos – perfect for building your own home!
Being able to drive is a must, especially if you plan to explore. If you’ve ever driven in countries like New Zealand or Canada and been astounded by the tremendous mountain views, you’re going to love the driving experience in Chile.
Chile has excellent cultural appeal, and the weather isn’t to be sniffed at.
The country is such a long strip of land that you can choose your preferred climate. Settle down in the North for a dry desert climate. Opt for central areas for a Mediterranean feel. Go to the south for rainier maritime weather.
Chile is also famous for its beautiful starry skies with little light pollution and a clear view of the spectacular southern sky.
And let’s not forget the wine. Chilean wines are delicious and reasonably priced.
Highlights:
- Diverse landscape ranging from the Andes mountains to the driest place on Earth: the Atacama Desert.
- A fantastic choice for wine lovers – Chile is a hotspot for new-world wines.
- International healthcare plans start from around $1,200 for a couple.
You can get more information about expat life in Chile, including the cost of living, where to live, the pros and cons, visa and residency options, and much more in our Living In Chile guide.
14: Germany
Germans have a reputation for being efficient and well-managed.
Unsurprisingly, the same is true for Germany. If well-managed, safe, and scenic, combined with four distinct, well-defined seasons, sounds appealing, Germany might be perfect for you.
Like its neighboring European countries, Germany’s cost of living and property is on the higher end.
However, you must balance this against the top-level infrastructure and public services (you’d be lucky to find a train running late in Germany!).
Winters in Germany are…well…wintery, which equates to fewer sunshine hours than every country on the list so far.
However, winter walks are magical; you could always take up skiing and skating to make the most of it.
It has great natural diversity, ranging from the northern coastline to the wintery Alpine regions of the south, which are great for hiking and being outdoors in all seasons.
Germany is a great choice if you’re looking for a country that’s not in a hot climate, runs like clockwork, and has wholesome food and some splendid beer.
Highlights:
- Amazing natural diversity.
- Top-quality healthcare.
- The coastline isn’t considerable; there are better choices if this is a top priority.
For more information on Germany, its pros and cons, cost of living, and more, read our Living In Germany guide.
15: Mexico
Mexico is famed for its cultural appeal, simpler lifestyle, and fantastic weather.
It makes it an especially popular destination for American retirees who want close proximity to the United States but also a country with a fierce cultural heritage and a lower cost of living.
Simplifying your lifestyle is the best way to destress and live longer and happier.
Add affordable property, a lower cost of living, good quality healthcare, amazing outdoors, and a good dose of sunshine, and what you get is a perfect recipe for a happy retirement.
The cost of living is about a third of that in the United States. Your US or Canadian dollar, British pound, or Euro go a long way when converted to Pesos Mexicanos.
The choice of locations is so big it can be a problem to decide where in Mexico you want to live.
Of course, there are quite a few expat hotspots, but their popularity pushes the prices.
A 2-bed house with breathtaking ocean views in Ensenada, Baja California, can be found for around $300,000.
Be prepared to pay around $179,000 for a decent 2-bed apartment somewhere like Quintana Roo or a bit more to get a nice villa in a more rural area.
Highlights:
- Quality private health insurance starts from around $1,500 a month and gets you services often on par with the USA.
- The quality of Mexican food and culture pretty much speaks for itself.
- Temporary residence income requirements – $2,400-$2700 a month.
To find out more about living in Mexico, the costs, pros and cons, and other details, read our Living In Mexico guide.
16: Dubai
Dubai, yes, we know, it’s not a country! It’s one of the major cities in the United Arab Emirates (UAE). However, it is probably the world’s most prominent expat hotspot, and with the Dubai Retirement Program being well underway, promising the very best of international living, it has a well-deserved place on our list, country or not!
Dubai has a reputation for opulence, which is no more obvious than how expensive it can be. The cost of property is on par with some Western European countries, and the cost of living is higher.
The weather in Dubai is exactly what you might expect: sunny, dry(with humidity), and very, very hot.
Temperatures drop to a cool 12 degrees C in the winter and rise to the mid-40s in summer. Almost everywhere is air-conditioned, so don’t expect to spend too long lounging in direct sun in July.
The country is an expat melting pot; around 90% of its population are foreign-born residents. Consequently, life here is tailored for expats and their needs.
You will find anything you want in terms of facilities and healthcare, comprehensive and modern.
One massive benefit of Dubai’s soaring wealth is its infrastructure.
Everything you need is within easy reach.
The shopping and hospitality scenes are top-notch, with endless activities and entertainment options.
Highlights:
- The sunniest nation in our top 20.
- International healthcare for a couple starts at around $1,500 a month.
- No income tax in Dubai.
Read more about expat life in Dubai in our Living In Dubai guide.
17: Malaysia
Malaysia is the only Asian country in our top 20 and has plenty to offer as an interesting alternative destination.
Its low cost of living and location in Southeast Asia means it has a fast-growing expat population.
Many are drawn in by its retirement visa program, known as Malaysia My Second Home (MM2H).
You must be over 50 to qualify and show proof of $119,000 in liquid assets.
Then, depositing $34,883 into a Malaysian bank or providing a monthly income of $2,300 means you’ll receive a 10-year multiple entry visa.
Any money you bring into the country is tax-exempt, and after one year, you can withdraw up to $11,500 from your deposit for home or car purchases.
While the income requirements are certainly higher than in other countries on our list, obtaining a visa is arguably much simpler if you have the finances.
Combine this with its ideal location in Asia, decent cultural appeal, and amazing food, and you have an excellent choice for retirement.
Highlights:
- MM2H program is specifically designed to attract foreign investors over retirement age.
- It is close to Vietnam, Thailand, the Philippines, and more.
- Peninsular Malaysia and East Malaysia have surprising cultural and economic differences, giving you distinct regions to settle down.
18: Paraguay
Paraguay’s main draw from a retirement perspective is its cost of living.
Although countries like Turkey and Argentina have lower everyday costs, property in Paraguay is about a sixth of that in the latter. Importantly, visa income requirements are very low, too; proving a monthly income of $1,300 provides various import tariff exemptions.
Paraguay is landlocked, so you should look elsewhere if the sea is an important factor.
As with other South American countries, it only has two seasons (wet and dry) but boasts more sunshine hours than its neighbors.
It would make a great base of operations for retirees wanting to explore more of South America.
You can easily travel throughout the continent, exploring and enjoying different countries and regions.
So, while there may not be a coastline in Paraguay, you can take your pick of the continent’s finest.
Highlights:
- No tax on foreign-sourced income
- Cheapest country in our top 20.
- It’s a stable, both economically and politically.
Find out more about this undiscovered paradise in our Living In Paraguay guide.
19: Colombia
Colombia offers some incredible benefits to its retired residents:
Affordable cost of living: Colombia offers a relatively low cost of living compared to many Western countries, allowing retirees to stretch their savings further. On average, living in Colombia is 70% cheaper than in the USA.
Diverse geography and climate: Colombia boasts diverse landscapes and climates, from tropical coastlines to temperate mountain regions, offering retirees a range of lifestyle options.
Quality healthcare: Colombia has a high standard of healthcare, with modern facilities and well-trained medical professionals, making it an attractive destination for retirees seeking quality healthcare.
Highlights:
- Pensioner visa: Colombia offers a retirement visa (TP-7) for those with a stable pension or retirement income. You will need a pension of at least three times the minimum salary (approx $800 in 2023).
- An affordable Golden Visa: you can invest in a property or a Colombian business under the M Columbia Investor Visa. You will need to invest 350 Million Colombian Pesos, approximately $80,000 USD.
- Median real estate prices: $140,000 for apartments and $216,000 for houses
For more information, visit our Living In Colombia guide.
20: Albania
Albania made it into our top 20 this year, mainly thanks to the lifestyle that its picturesque coastal cities and towns offer to expats.
Albania’s popularity with tourists from the UK, Italy, Poland, the Czech Republic, Ukraine, Germany, Russia, and the Balkans has raised its profile as an expat destination.
Compared to Northern European and North American countries, Albania is cheap, offers a pleasant climate and lifestyle, decent healthcare, and the most brilliant location in the European continent that allows you to explore Europe easily and cheaply.
Highlights:
- Affordable retirement visa: you need to demonstrate an annual retirement income of 1200000 ALL (approx. $10500).
- Affordable real estate: Albania is one of the cheapest countries in Europe regarding housing. On average, a house in the city center of Tirana, the capital of Albania, can cost between €1,000 and €2,000 per square meter. Outside Tirana, prices are lower, with some houses selling for as little as €500 per square meter.
For more information, read our Living In Albania guide.
The 20 best countries to retire – summary
And there we have it, the top 20 nations for retirement abroad.
We’ve provided a lot of inspiration to help you find your ideal place to retire.
Visiting these countries yourself is the best way to experience them. However, feel free to contact us if you have any questions about the places listed here.
With our large network of expat readers, we can connect you to the right people for more details.
How we evaluate each country
The best foreign countries are the ones that give you the best compromise possible between living costs and everything that matters for a happy retirement.
The Expatra team annually evaluates the 40 most popular countries. Our main data source is the Expatra Global Retirement Survey, which asks retirees to rate their retirement destination’s infrastructure, climate, ease of settling down, value for money, safety, healthcare, and friendliness.
Other data sources include the Happy Planet Index, LivingCost.org, Global Property Guide, and World Population Review.
Healthcare costs are provided by our partners International Insurance.
Is health insurance really $895/Month? or Year? That’s a mighty steep price to pay for insurance if it’s a month.
A month, indeed. It’s an international insurance policy. Depending on your age and health, you can find local private insurance providers – this might save you some money.
One important factor for retirees (who will presumably die in their new country) is cost and quality of assisted living and more advanced elder care options. I appreciate all your info on residency requirements, cost of living, healthcare quality etc. and would love more info about retirement communities and facilities. Thanks.
I was a little surprised Ecuador and Belize were not on your list since they seem to be on every other list the last few years. Why? Also, what about Uruguay? I suspect Uruguay is too expensive for average retirees; my research shows it doesn’t appear to be any cheaper than USA.
Eucador is definitely missing, but I’m COMPLETELY shocked this list doesn’t have Thailand near the top! All these lists keep pushing Portugal as #1, yet Portugal has a moderately high COL, closer to high considering the insurance cost and the fact that they now tax foreign income. That alone would make it COMPLETELY unaffordable for avg retirement incomes. Thailand has renown crystal clear white sand beaches, great cuisine, lower insurance costs, lower housing costs, better Healthcare and the language barrier is easier to navigate. From my understanding the need to learn some Portuguese is a must in many areas, whereas most English retirees can get by easily, without learning more than basic greeting phrases(and this only for politeness), in thai. Most all the service people in thailand can speak English.
In all the research I’ve done and watched, Thailand is COMPLETELY #1 for COL, I would say ecuador is the next closest, but thailand has lower crime and better Healthcare.
Thanks for your comment, we appreciate all the opinions. Our list is based purely on the readers’ votes. So, please, vote for your preferred country in our the Expatra Global Retirement Survey: https://forms.gle/wzvrUGd1b68dNSmr5
Your opinions and recommendations matter a lot for people researching the best countries to retire.
You are not the first to mention the fact that retirement income is now taxed in Portugal. The low tax retirement was a huge draw for expat retirees and since it’s not available any longer, we expect this to be reflected in the votes.
Where Portugal still surpasses Thailand is the defined path to permanent residency and citizenship, public healthcare available to all legal residents (public healthcare in Portugal is better than in Thailand), foreigners can buy and own land in Portugal.
Thailand does sound like a great option for retirement. However, here are a few concerns from the comments on our survey: permanent residency is complicated – there’s an annual quota on how many people can be granted this. Land ownership is banned for foreigners, so you can buy a house but not the land it stands on. While cost of living and property on average looks very affordable, the expat areas are getting pricier and pricier.
For UK retirees another important issue is frozen pensions – if you retire to Thailand, your state pension will be frozen, while in Portugal you will still have your triple lock while it lasts. Plus, of course, in Thailand you cannot use S1 form to have free healthcare, while in Portugal you can.
Language wise while you are absolutely right saying that in Thailand most people in expat and tourist areas speak English, the majority of our survey participants living in Thailand insist that learning at least some spoken Thai is very useful.
Of course, there are many positive sides to Thailand. If you love tropical climate, emerald waters and lush jungles, Thailand is the right place to be! Just make sure that you bear high humidity well. Beautiful culture, amazing food, hospitable and friendly people – this is Thailand.
In depth research and talking to expats with experience is very important when you choose your country to retire. So, please, if you can, share your opinion and vote in our survey.
Thank you for posing this very informative, helpful article.
A great variety of places to retire leave one much to think about.
Panama is one of the MOST expensive countries in the world, the cost of living is too high and the health care services are impossible to pay. To be able to retire in Panama you most have a income of 5.000 USD at least.