10 Best Countries to Retire Comfortably in 2024

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10 Best Countries to Retire Comfortably in 2024
10 Best Countries to Retire Comfortably in 2024
The best countries to retire in the world offer a combination of security, quality healthcare, low cost of living, and access to facilities for leisure. However, this article lists some of the easiest countries to retire from; these countries offer the best and cheapest options for retirement visas and an easy path to residency. For instance, a country like Vietnam is often regarded as a great retirement option. But, Unfortunately, a retirement visa is still not available in Vietnam. So, foreigners who want to retire in Vietnam will have to apply for a business or investor visa to reside in the country. So, the countries mentioned in this post offer the easiest and cheapest retirement visas, often leading to permanent residency or even citizenship. So, here are the 10 Easiest countries to retire for 2024.

10. Mauritius

Mauritius island

Mauritius attracts retirees from around the world. They come for natural beauty, remote areas, and a relaxed lifestyle. For many, retiring in this paradise would be a dream come true, plus there's a residency permit that makes retiring in Mauritius possible for many people. To be eligible, you must transfer at least $1500 per month to support yourself. The transfer must be from your personal bank account in your home country to your personal bank account in Mauritius. The visa is valid for ten years. You can renew indefinitely as long as you meet the financial criteria, and you must show that you regularly transfer money to Mauritius; furthermore, your family can also reside with you as this visa covers them.

9. Chile

Chile is a great country to retire in Latin America

Chile is easily one of the most corruption-free and stable countries in the Americas and one of the most friendly to foreigners looking to relocate or retire. The cost of living in Chile is relatively high relative to other Latin American countries; however, retirees from North America and Europe will enjoy significantly more purchasing power than at home. Furthermore, it offers one of the best living standards in Latin America, along with modern infrastructure and good public health care. Moreover, Chile provides a retirement visa program that gives a straightforward path to Chilean residency. Obtaining this visa is simple: you need to prove that you have a source of regular recurring income to support yourself and your family living in Chile.

8. Thailand

Retirement in Thailand

If you're looking to stretch your retirement budget as far as possible and are up for an exotic adventure, consider retirement in Thailand. This country has a low living cost and some of the world's most beautiful beaches. Its retirement visa is available for foreign nationals over 50 years of age and can be applied in Thailand or overseas at a royal Thai embassy or consulate. To qualify, you must show an adequate income from outside of Thailand or deposit 800 000 Thai bot, which is around $24 000, in a Thai bank. While sufficient income isn't formally defined, it's about $1500 a month unofficially. The retirement visa is for one year and can be easily renewed annually. Furthermore, you can process the paperwork and pay about eighty dollars, or you can seek help from an attorney who will charge three hundred to four hundred dollars.

7. Spain

Madrid - the capital of Spain

Across its almost 200 000 square miles, Spain has gorgeous beaches, breathtaking mountains, and plenty in between to enjoy during your golden years. To spend retirement in Spain as a non-EU citizen, you'll need to obtain a non-working (Non-lucrative) residence visa. This type of visa does not permit you to work in the country. You will need to prove that you have the means to support yourself and any dependents while you live in Spain without working. You can provide evidence of a certain minimum monthly income like pensions and investment statements. Typically you'll need to prove you'll have at least 2500 dollars and 500 dollars per dependent coming in each month. Furthermore, this type of visa can be renewed every two years until you get permanent residency which is available after five years in the country.

6. Malaysia

Malaysia is great world spot for retirees

Malaysia has a lot to offer retirees, from its sandy beaches to its extensive rainforests to its stunning capital city of Kuala Lumpur. The climate is tropically hot and humid with rainy and dry seasons. On top of all this, it also boasts relatively inexpensive living costs, so it's no wonder retirees are heading to Malaysia. Moreover, it has a retirement visa option that is one of the best in the world, known as Malaysia's second home visa. It grants retirees a 10-year multiple entry visa that is automatically renewed on its expiry at the end of the first ten years. Anyone can obtain this visa if they deposit $32 000 into a bank in Malaysia or prove they have a monthly income of $2 300.

5. Portugal

Retire in Portugal

Portugal is one of the most affordable European countries, and many people speak English, especially in the main cities and coasts. In addition, there are sunny beaches in Algarve, wine in Porto, and a historical metropolis in Lisbon. In recent years, the Portuguese government has eased residency requirements and taxes to make the country more appealing to tourists and ex-pats. Its retirement visa is a temporary residency visa for non-EU citizens who wish to live in Portugal. The process is straightforward: it has few requirements anyone can apply, and it's relatively cheap, making it an attractive option for most applicants. This visa is valid for one year and can be renewed twice for another two years. After a five-year stay in Portugal, applicants can apply for a permanent residency permit and Portuguese citizenship, provided they still meet the requirements.

4. Mexico

Mexico City is one of the most crowded cities in the world and great place to retire

Many retirees find Mexico to be an attractive retirement destination due to its weather, affordability, and proximity to the United States. So if you are from the US, you can reap the benefits of retiring abroad, but you won't have to worry about crossing a notion to get home. To retire in Mexico, you'll need to obtain a temporary resident visa at a Mexican consulate. To receive approval, you'll need to prove you can support yourself financially, which in concrete terms means showing you have a monthly income of at least $1 400. After four years, you can apply to have your visa converted into a permanent resident visa. Additionally, Mexico operates both public and private medical facilities. Some facilities work with US and Canadian health insurance providers so that you can keep your old medical insurance.

3. Greece

Greece is a great spot to retire

If you dream of retiring on a sunny island with delicious food and a thriving local culture, it may be time to look at Greece. The country offers hot summers and mild winters. You can live in a metropolis like Athens or a picturesque town in Santorini. US and Canadian residents can live in Greece for up to 90 days without needing any visa or permit, but if you want to stay more than 90 days, you'll need to apply for a residency permit. The basic requirements for a residence permit are proof of income of at least 2 000 euros a month or savings of at least 24 000 euros in a bank. Also, keep in mind that if you have citizenship in one of the European union's 27 member states, you have the right to live in Greece without getting a visa or residence permit.

2. Argentina

Argentina is an attractive and affordable country for retirement

Argentina is an attractive and affordable country for retirement. Apart from the low cost of living, it showcases several diverse cultures and has varied landscapes to explore: the Andes mountains, Glacial lakes, and the pampas, in addition to Buenos Aires. The process to obtain a retirement visa is pretty straightforward. One way is to prove your financial status as a retiree with a monthly income of at least 100 000 Argentine pesos, which equals around $1 100. A regular permanent and banked income that meets or exceeds this minimum threshold qualifies you for the "Pensionado" or "Rentista" residency visa. This visa is initially valid for a year and renewable for up to three years. After that, you can apply for permanent residency and, if you wish, eventual Argentinian citizenship.

1. Panama

Panama is one of the easiest countries to retire in the world

Panama's beautiful beaches and warm climate have made it a popular location for foreigners to retire in recent years. It is one of the easiest countries to retire in the world. Anyone 18 or older can apply for the Panama "Pensionado" as long as you have a proven lifetime income of $1 000 per month and if your monthly pension falls between $750 and $1000. You can still qualify by purchasing a local property worth at least $100 000. Qualifying applicants for this permanent residency visa also receive several tax exemptions on household goods plus substantial discounts on everything from utility bills to medical exams and transportation services.