Retirement offers a unique experience: the ability, in theory, to live anywhere in the world. While retiring overseas isn’t for everyone, many consider it embarking on a new adventure or chapter in their lives. Fortunately, some countries make things easy through easy visa requirements, low costs of living, citizenship opportunities, and diverse lifestyles that can match your passions.
Find out the best places to retire around the world. And if you’re interested in retiring overseas, you won’t have to worry about sending money to your loved ones. Western Union’s online platform and money transfer app are convenient and reliable, making it easy to transfer money no matter where you’re located.
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What makes a location ideal for retirement?
In retirement, you’ll likely have different needs and preferences to look forward to. The following factors are all worth considering when you’re spinning the globe:
- Warm weather: Many of the destinations suggested are balmy and temperate, which have always been a boon to retirees. Instead of considering Arizona or Florida, you can find similar climates overseas!
- Quality of life: Getting more for your dollar is vital during retirement, especially when you’re looking for a low cost of living. Quality of life includes crime rate levels, advanced infrastructure such as utilities and high-speed internet, cultural history and institutions, and the pace of life.
- Visa opportunities: Countries offer immigration permits to both entice foreigners and add to their economies, and those aimed at retirees are no different. They may require a minimum annual income to qualify, which can include a pension or retirement fund. The simpler the process, the more attractive a country might seem.
- Permanent residency and citizenship: After several years, you can have the option to apply for citizenship. You’ll need to live in a country for 5 or 10 years, and then take a test to demonstrate your understanding of the language, history, and your civic duties.
- Advanced healthcare: American retirees can benefit from public-funded healthcare systems in many of these countries, as well as buying private health insurance.
- Diverse lifestyles: Whether you love quiet sandy beaches, vibrant urban life, or bustling night markets, there’s plenty of options for where you want to live. The world capitals of these countries can play host to your love of food, art, or nightlife.
The best places to retire around the world
Not only are the following places attractive tourist destinations, but they also exemplify the best of retirement living from the aforementioned criteria. If you’ve visited these countries before and fallen in love, it may be worth considering them as places to settle down permanently.
Italy
The birthplace of la dolce vita is home to Tuscany, the Amalfi Coast, and Rome itself—the Eternal City. Italy also offers an elective residency visa (ERV) as the best and relatively inexpensive option for foreign retirees. After ten years of living in Italy, you can apply for citizenship.
France
No matter if you’re drawn to the rocky northern coast, Mediterranean climes in the south of France, or winemaking regions, you’ll fall in love with French gastronomic culture that was that designated by UNESCO in 2010 as an element of intangible world heritage. What’s more, real estate costs are one-third less than they are in the United States, and with the exception of Paris, France is more affordable in general.
Portugal
Vibrant cities like Lisbon and Porto—Portugal’s two largest cities, respectively—offer endless nightlife, culture, history, and culinary delights, while its warm weather features as much as 300 days of sun a year. Overall, according to the Global Peace Index, Portugal is the 6th safest country in the world. Its healthcare is among the world’s best. No surprise that 500,000 expats call Portugal home.
Cyprus
The Greeks believe that this small Mediterranean island is the birthplace of Aphrodite, the Goddess of Love, and its warm weather and slow pace of life contribute to this legendary reputation. You don’t need a large income to qualify for an immigration permit. Cyprus only requires a minimum of approximately $10,000 per year, which matches the earnings from many pensions.
Mexico
You don’t have to cross an ocean to still enjoy it. Mexico’s Pacific coastline and Caribbean shores play host to its beloved cuisine, surfing culture, beach resorts, and indigenous history. While Mexico is usually associated with desert-like climates, there are chilly highlands, mountain ranges, and dense and alluring rainforests. With over 9 million people, Mexico City squeezes past New York City as North America’s largest metropolis—fortunately, there are plenty of flights between the two destinations.
Panama
Surrounded by blue ocean waters and rugged jungle scenery, Panama is a land of contrasts. Its capital, Panama City, is an upscale and cosmopolitan metropolis whose palm trees seem to stretch as tall as its skyscrapers. Year-round warm weather, frequent flights to the United States, and some of the best healthcare in Latin America, make Panama a standout place to retire. Real estate is relatively inexpensive. You may just buy property located in the highlands and enjoy agricultural delights such as world-class coffee.
Ecuador
Ecuador is located right at the equator, between the Pacific Ocean and the edges of the Amazon rainforest. Therefore, it’s a compelling destination for those who want a slower-paced lifestyle in retirement and the warm, sunny environs that conjure. Ecuador also has a visa aimed specifically at retirees, which offers generous benefits such as low costs, equal rights to citizens, and the chance to start businesses or purchase real estate.
Malaysia
One of the most forward-looking nations in Asia, Malaysia combines scenic tropical beauty with a glimpse of the future—such as in Kuala Lumpur, home to the tallest twin skyscrapers in the world. High-speed transit, advanced internet, and clean streets add to the capital city’s quality of life. The Malaysia My Second Home retirement visa program is good for 10 years and allows foreigners to retire, live, and invest in the country by buying real estate—which can be significantly cheaper than neighboring countries like Singapore, or back in the United States.
No matter where you retire, you can always count on reliable ways to reach family and loved ones abroad. If they need help with bills or expenses before you visit, Western Union can help. You can use Western Union’s money transfer services to send money quickly and securely. You can go online, download the money transfer app, or visit an agent location to send money in person.
