Hoping to spend your golden years somewhere else? With coronavirus vaccines being rolled out across the globe, you'll soon be able to start making that dream move a reality, but figuring out where to go can be tough. Enter the International Living Annual Global Retirement Index. Dubbed “the most comprehensive and in-depth survey of its kind”, the index is based on feedback from US expats and ranks the leading nations for retirees according to 10 factors that include cost of living, climate, healthcare, entertainment and how easy it is to obtain residency. Click or scroll through the top 25 countries to retire to in 2021 and start planning that post-work move. All dollar values in US dollars.
Nicaragua ticks senior-friendly box after box, thanks to everything from its low cost of living and generous retiree benefits to the country's balmy tropical climate and breathtaking landscapes. The nation also scored strongly for its healthcare, which is a key concern for retirees. Be that as it may, the Central American nation has slipped down the rankings in recent years due to rising crime and political instability. As a consequence, International Living urges retirees to “proceed with caution”.
Staying in Latin America, Bolivia scores even higher than Nicaragua for its low cost of living. That said, a similar caveat applies to Bolivia with the country scoring very poorly in the governance and opportunity categories, which impacts safety and business opportunities. Be that as it may, International Living says Bolivia remains a viable retirement location and has much to offer the more intrepid older expat, such as decent amenities and great weather.
Like several other EU member states, Croatia scores on the low side in terms of securing a visa and residency, not to mention housing and benefits. But the pros of retiring to the scenic and super-photogenic European country, which is famed for its distinctive culture, cities steeped in history such as Dubrovnik, and beautiful beaches lapped by the crystal-clear waters of the Adriatic, more than outweigh the cons.
Honduras, specifically the paradise island of Roatán, is next in the ranking. It's easy to move to as expat retirees simply need to show that they have an income of at least $1,500 (£1.1k) a month to qualify for a Pensionado visa. Roatán, unlike the rest of Honduras, is primarily English-speaking and has almost everything a sun-seeking senior could ask for, including world-class beaches, lush nature reserves, charming restaurants and bars, and a golf course. It also scores highly for governance, which reflects not only the safety of living there, and the level of personal freedom, but also things such as its banking systems.
Belize boasts one of the world's best retiree programmes according to International Living, and securing permission to live there is simple and straightforward, which is music to the ears of foreign retirees who flock to the country for its natural beauty, boundless leisure options and more. Nevertheless, crime is a major problem, though the established expat locales are significantly safer than hotspots such as Belize City.
Hankering after la dolce vita in Italy? The Southern European country is heaven for culture vultures, foodies and sun-seekers alike, plus the cost of living is relatively low, yet the nation's governance rating has slumped this year, partly due to the government's handling of the coronavirus pandemic. Obtaining residency in Italy is pretty painless, but non-EU citizens must show they have an annual income of €31,000 ($37.6k/£27.7k) a year for an individual and at least €38,000 ($46.2k/£33.9k) annually for a couple, along with a valid medical insurance policy, to qualify for an elective residence visa.
The Land of Smiles has much to entice foreign retirees, who are drawn to the friendly country for its wonderful culture, cuisine, climate, beaches and healthcare, as well as its thriving expat community and cheap cost of living. Senior benefits aren't much to write home about though. To snag an over-50s retirement visa, you'll have to provide evidence of a minimum monthly income of 65,000 Thai baht ($2,160/£1.6k) or a deposit of 800,000 Thai baht ($26.6k/£19.6k) in a Thai bank account, or a combination of both, so long as the total comes to 800,000 Thai baht ($26.6k/£19.6k).
Senior benefits aren't great in Sri Lanka either but, like Thailand, the Asian island nation more than makes up for this with its welcoming people, fantastic weather and food, stunning beaches, plethora of cultural attractions and economical cost of living, which is the second-cheapest in the top 25. Permission to live in the country is easy to obtain for retirees over 55 but applicants need to show they have at least $15,000 (£11k) in a Sri Lankan bank account on top of an income of $1,500 (£1.1k) per month.
The beguiling island of Bali is a major retirement destination as well as a tourist magnet. And it's not hard to work out why with the enviable location offering culture by the bucketload, gorgeous beaches, delectable cuisine and top-notch senior benefits, all in a safe, low-crime environment. Obtaining residency isn't overly easy, however, with the list of requirements relatively long and Bali scores lower than other places in the top 25 in this respect.
In contrast, securing permission to live as a retiree in Peru is a lot easier. To obtain the Peruvian Rentista Visa, the only requirement is a monthly income of $1,000 (£735), and visa holders are exempt from paying certain local taxes. The benefits of living in the South American nation are numerous, with the standouts being the affordable cost of living, culture and climate.
A warm welcome awaits foreign retirees in Ireland, which is renowned for its friendly people, verdant countryside, captivating culture, exemplary healthcare, and more. No wonder the nation appears in so many best places to retire round-ups, including the latest Natixis Global Retirement Index, in which it comes fourth. There's just one big catch. Non-EU citizens have to provide evidence of an annual income of at least €50,000 ($61k/£45k) to qualify for residency.
As a retirement destination, Uruguay has a lot going in its favour, including a pleasant climate, interesting culture, nice beaches and good shopping, plus securing residency is cheap and easy. And while crime has been on the rise in recent years, it's a lot less of a problem in Uruguay than in other South American countries. That said, the cost of living isn't as affordable as in nations such as Ecuador, Colombia or Mexico.
Cambodia is especially welcoming for foreign retirees. According to International Living “perhaps no other country in Asia makes it easier for expats to come and retire with a minimum of bureaucracy, red tape, and financial requirements”. Once there, retirees can live very comfortably on very little and enjoy everything the nation has to offer, from its delicious food to its beaches, mountains and cultural treasures such as the world's largest religious monument: Buddhist temple Angkor Wat.
Sunny Spain is one of the most senior-friendly countries, and scores highly on climate, culture and entertainment, governance and cost of living, which is the second-lowest in Europe, and particularly impressively on healthcare with the second-highest score in the top 25 in this category. Residency isn't too difficult obtain for citizens of countries such as the US, Canada and Australia, but applicants must prove they have at least €25,000 ($30.5k/£24.5k) in a Spanish bank account.
Expat retirees can enjoy the high life on a shoestring in Vietnam, which comes top of the International Living index for cost of living and offers cultural activities, gourmet dining and even healthcare at budget prices. Still, the Vietnamese government doesn't offer a retirement visa and securing residency can be relatively complicated and costly.
Obtaining residency in English-speaking Malta is a relative walk in the park. Non-EU retirees simply have to apply on an annual basis and pay a small fee for the privilege. The Southern Mediterranean nation doesn't disappoint with retirees lauding its climate, culture, cuisine, beaches, landscapes, healthcare and cost of living, which is lower than many other countries in Europe.
A fantastically rich culture, exquisite food and wine, agreeable climate, pretty countryside, exemplary healthcare and all-round joie de vivre combine to make France an exceedingly attractive destination for expat retirees. To qualify for a carte de séjour (residency permit), non-EU citizens just need to prove financial self-sufficiency and show they have valid international medical insurance.
Malaysia is this year's top destination in Asia for expat retirees, beating the competition hands-down. International Living cites a number of factors that make the country so appealing to foreigners looking to retire there, including the ease of obtaining residency, low living costs, tropical climate, pristine beaches and jungle, and tasty cuisine.
Another country where expat retirees can live well on not very much money, Colombia is no longer the crime-ridden hotspot it once was and has so much going for it these days, hence its high scores across the 10 categories surveyed by International Living, particularly healthcare, ease of securing residency, development, climate and entertainment.
Conversely, crime in Mexico remains a serious problem, but is typically low in the areas expat retirees reside and doesn't put off the multitudes of seniors from the US, Canada and elsewhere from spending their golden years there. The country's low cost of living, culture, entertainment, climate and a whole host of other factors are hard to resist.
Panama has previously topped the International Living index for a number of years and remains an outstanding retirement destination. In addition to the Central American country's low cost of living, fabulous climate, beaches, amenities and healthcare, Panama provides seniors with unparalleled benefits and discounts such as 25% off utility bills and half-price movie and show tickets. Expats need only be in possession of a Pensionado visa, which is available to anyone with a monthly income of $1,000 (£735) or more, to reside there.
La pura vida is found in abundance in glorious Costa Rica and expat retirees really are spoilt in the country, which wows with jaw-dropping natural beauty, warm people, a year-long summer climate, plus a low cost of living – housing, healthcare, groceries and other essentials are surprisingly affordable. And though crime has been on the rise of late, the Central American nation is still the safest in the region by a long shot.
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