What are the best countries to retire?

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Retiring to another country after finishing your professional life is an option that more and more people around the world are considering. According to the American magazine Travel + Leisureforeigners consider health care, visa requirements, local culture, taxes, and cost of living when deciding whether to retire abroad.

The media website has published a list of the top 12 places to retire, here is a brief overview of the top 6:

Portugal has become a popular retirement destination in recent years due to its mild climate, reasonable cost of living and hospitality. Foreigners legally residing in Portugal can register with the National Health Service to access public hospitals and health centers, while others choose to have their medical care covered by private insurance. Health insurance, passport and proof of income are required to obtain a residence permit.

Spain is also on the list for its highly qualified healthcare system, which includes medical care for citizens and residents who pay Social Security. Most foreign retirees opt for a residency visa. The cost of living varies between major Spanish cities and it is generally cheaper to settle outside the cities.

The Dominican Republic is one of the cheapest Latin American countries to retire. In the country’s capital, Santo Domingo, rents are 80% lower than in New York and consumer prices are 49% lower. According to the publication, most retirees take out private health insurance and receive care in private facilities at reasonable prices. It should be noted that the country offers a visa for retirees or pensioners if they can prove that they have a monthly income of at least $1,500. Most retirees live in the country’s capital and Santiago, as well as in tourist spots such as Punta Cana, Puerto Plata and Boca Chica.

Costa Rica is one of the countries with the lowest cost of living in retirement; in the capital, San José, housing costs are 79% lower than in New York and consumer prices are 44% lower. To install, you must opt ​​for the program Pensioner, which requires a minimum monthly income of $1,000 which must be transferred to a Costa Rican bank to cover expenses, or the program Rentista for those not receiving a monthly pension which requires a minimum of $60,000 or a monthly income of $2,500 for at least two years. The national medical program is available for residents.

Also according to the publication, Panama has become a popular retirement destination largely due to its proximity to the United States, warm climate and welcoming atmosphere. The cost of living can be adjusted to fit most budgets. The government has introduced a retiree visa which requires a minimum monthly retirement income of $1,000 and offers discounts on services and tax exemption on imported household goods. Retirees can opt for private health care and reasonable co-payments for services.

Finally, another popular travel destination for retirees is Uruguay, which is characterized by a low crime rate. The cost of living is at least 19% lower than in the United States, rent is 66% cheaper, and affordable health care is available to everyone. Obtaining legal residency requires a monthly pension of approximately $1,500 and a criminal background check.


Catherine Mills Avatar