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10 Best Places to Retire in 2024 (Visas, Residency, Healthcare, Taxes)

Learn a new language this year with Rosetta Stone. Use this link to get LIFETIME access to 25 languages for only $179 - that's more than 50% off the regular price! https://partners.rosettastone.com/travelingwithkristin What are the best places to retire in the world? International Living released its annual retirement index for 2024 with the top 10 best places to live abroad as a retiree. But nowhere is "perfect" so in this video I share with you the pros and cons to each destination. Plus, info about healthcare, taxes, cost of living, residency, visas, and more. Have questions? Comment below this video. 🌍 Are you thinking of retiring abroad? Get support for an overseas move by applying at https://www.travelingwithkristin.com/relocation My Favorite Travel Gear: ✈️ Merino Wool Clothing: https://bit.ly/unboundmerino_twk Online Money Transfer Account: https://bit.ly/travel_wise Travel Insurance: https://bit.ly/SafetyWingIns Amazon Travel Store: https://bit.ly/Amazon_TravelingWithKristin Digital Nomads For Dummies Book: https://amzn.to/3JLLx5c Stay in touch with my weekly travel newsletter: https://bit.ly/twktravel Watch next: 👀 1 The Top 10 Best Places to Retire in the World https://youtu.be/N7GJfd4JLvo?si=OcZsjZSsN7k9vduT 2 Cost of Living in Costa Rica https://youtu.be/e0OKdn3ghAI 3 Why Expats Leave Costa Rica https://youtu.be/cbGMngGx2xk 4 Moving from the USA to Europe https://youtu.be/aGSt2doYHIE 5 The Best Countries for Americans to Live Abroad https://youtu.be/69vnUYmcNTk 6 The Best Places to Live on $1,000 per Month https://youtu.be/HJ_YBTnxDAE 🎙 Subscribe to my weekly travel and living abroad podcast: https://bit.ly/BADNplaylist Chapters: 00:00 - Intro 00:49 10 - Colombia Pros & Cons 2:06 Colombia Retirement Visa & Taxes 2:54 9 - France Pros, Cons, & Healthcare 5:54 France Residence Permit & Taxes 6:22 Learn a Language with Rosetta Stone (Ad) 7:54 8 - Malaysia Pros, Cons, Costs, & Healthcare 9:36 Malaysia My 2nd Home Program 10:30 7 - Greece Pros, Cons & Healthcare 12:51 Greek Residency & Golden Visa 13:57 6 - Ecuador Pros, Cons, & Costs 16:16 Ecuador Retiree Visa & Taxes 16:56 5 - Spain Pros & Cons 20:08 Spain Non-Lucrative & Golden Visas 20:53 4 - Panama Pros & Cons 22:57 Panama Pensionado Visa & Healthcare 23:38 3 - Mexico Pros, Cons, & Healthcare 27:37 Mexico Permanent Residency & Taxes 28:48 2 - Living in Portugal Benefits 29:53 Portugal Challenges & Controversy 32:20 Portugal D7 Visa & Taxes 33:50 1 - Costa Rica Benefits & Healthcare 36:52 Costs & Crime in Costa Rica 38:30 Costa Rica Visa Options 39:06 Additional Countries (Underrated) Source - International Living's Annual Global Retirement Index: https://internationalliving.com/the-best-places-to-retire/ •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• 👱🏻‍♀️ About: Kristin Wilson is the author of Digital Nomads For Dummies, the host of Badass Digital Nomads Podcast, and known as Traveling with Kristin on YouTube. She's traveled to more than 60 countries and has been helping people move overseas since 2005. ❤️ Subscribe on YouTube: https://www.youtube.com/travelingwithkristin 📸 Follow on Instagram: http://bit.ly/TWKinstagram Disclaimer: This video was produced in partnership with @RosettaStone This video is for entertainment purposes only and should not be considered travel, tax, financial, investment, or any kind of professional advice. Video descriptions may contain affiliate or refer-a-friend links for products I use and recommend. Thanks for supporting the channel! •••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••• #bestplacestoretire #bestplacestolive #retirement #rosettastone #rosettastonepartner

Traveling with Kristin

4 weeks ago

If you are looking for the best places to retire in the world, then you're probably concerned with the country's climate cost of living, political stability, safety, security, community, and so much more. And you're probably also wondering where you can find all of these qualities all in one place. In this video, I'm sharing with you the 10 best places to retire in the world and why, according to International Living's Global Retirement Index. But I'm not going to sugarcoat things. I'll tell you
the pros as well as the cons, what you need to get residency there, how the healthcare is, and if your pensions and social security income will be taxed. We'll save the best places for last and at the end of this video, I'll tell you which countries should be on this list but aren't. In 10th place. We have Colombia nestled between the Caribbean Sea and the Pacific Ocean, a land of natural beauty with a long history of tradition and culture. What I love about Colombia other than its natural beau
ty is that you have so much diversity when it comes to choosing a place to live. Whether you want to check out Cartagena or the San Blas Islands or head to Cali or the cities of Bogotá or Medellín, you have a lot of options and wherever you go in Colombia, you can expect a really low cost of living at 60 to 80% less than the United States. Colombia also has a great healthcare system, ranked number 22 in the world, and it's known for having a very friendly and welcoming local population to foreig
ners and retirees. No place is perfect though, and there are some safety and security concerns in Colombia. There can also be very heavy rainfall at times of year, and it's known for having a lot of bureaucratic red tape, but really, which government doesn't have that. It can also be a challenge if you don't speak Spanish, you can retire in Colombia on Colombia's retirement or M Visa, and you can qualify for this visa with three times the monthly minimum wage, so that comes out to around $800 or
$900 per month. This visa is available for three years and it's also renewable and it's fast to get approved. So those are some of the benefits of retiring in Colombia. You will need a health certificate and a clean criminal record to be able to qualify for this visa, but the good news is that there is an exemption on foreign sourced pensions, although if you're not retiring there, but you are a tax resident in Colombia, you could be subject to income tax on their progressive scale from 0% to 3
9%. If you've ever envisioned yourself living the beautiful life on the French Riviera or in the French countryside, then consider number nine on the list. France. You know, before I ever traveled to France, I always assumed that it was very expensive, and while Paris does have some of the most expensive hotels in the world, I was shocked by how reasonable the cost of living is there and how affordable food, hotels, rentals, and your daily expenses can be. I remember going on a road trip with my
friend through the French wine country of Saint-Émilion and our Airbnb over there was less than $50 a night, and I can remember having a multi-course lunch at a chateau with wine included for somewhere around 12 to 20 euro per person. In general, you can expect your cost of daily goods in France to be about 10% to 25% lower than they are in the United States, and rent prices can be up to 50% lower than the US. When it comes to healthcare, residents can pay anywhere from 0 to 25% of the cost of
the care, and according to IL for a retired couple, it could cost you around $1,800 per year. Like Colombia, one of the main benefits of retiring in France is really the diversity of the places that you can choose from the big cities, Paris, Lyon, Toulouse to smaller villages or the beautiful French Riviera or the coastline. I think France is one of those countries that's really underrated when it comes to nature because people often think automatically of the cities, but you really have it all
from the mountains to the countryside to the beach. The food in France is incredible. I don't even think I need to say that, but if you haven't been to a French grocery store before, it will change your life. Amazing. As a bonus, if you live in France, you'll never run out of chocolate croissants. But in all seriousness, it really does have a very relaxed pace of life, even in the cities and Parisian suburbs and don't pay attention to the stereotypes about the French being cold and unapproachabl
e because it is an open society if you learn to speak French and if you really have an intention of integrating with the local culture there, it is possible to find community. It might just take a little bit longer than in some other countries on the downsides. Property in France, although it can be quite affordable, can also be hard to come by and it can be expensive, especially in the cities. If you live there year round, depending on where you are, the winters can be long, dark and gray, and
as I mentioned, it is almost a requirement to learn to speak French. If you want to live there and have any chance of integrating with your local community. To retire in France, you'll first need a long stay visitor card and that's good for up to one year. After that, you would need to switch over to a French residence permit. Foreign pensions are taxed in France, although there is a tax treaty between France and the US, so check if it's the same with your country so that you can avoid double ta
xation Wherever you plan to live or retire around the world. Learning the local language is a must. My life completely changed when I learned Spanish 20 years ago, but I just got back from a trip to Brazil and I was really frustrated with my inability to communicate while I was there. So in preparation for my upcoming trip to Portugal, I've been brushing up on my Portuguese by using Rosetta Stone. I really like how it uses the combination of images with the audio and reading, so if you are a vis
ual learner or an auditory learner or if you learn by doing, you're covered here, We did it. I really like that you can make a lot of progress in just 10 minutes per day and you can track your progress in the app. You can start learning a language with Rosetta Stone at any age, and if you click the link below this video, you can get 50% off a lifetime subscription to all languages, so you can learn as many as you want or you can come back to ones that you want to learn better. Or if you need a r
efresher on those, use the link below to get 50% off. Lifetime access right now and thanks to Rosetta Stone for partnering on this video. From Sandy beaches to modern cities, Malaysia has it all, and with the Malaysia my second home visa, you can stay in Malaysia from five to 15 years with the option of getting a residence permit. Malaysia is often thought of as a close second to living in Singapore, but for a much lower cost. Malaysia is an advanced country with a modern developed economy and a
stable currency, especially compared to some other countries in the region. It also has more affordable real estate than neighboring countries such as Thailand. It's very safe, it has great food, especially good street food and expats love it there so much that it was voted the number four best country in the world for expats in 2023, and it also ranks number 20 on the global peace index. Healthcare is also very high quality and very affordable. You can expect to pay around $50 for a doctor's a
ppointment there and anywhere from three to $7,000 for a knee replacement, for instance, on the downsize, although it does have a warm climate, it can also get very hot and humid and can have some problems with poor air quality and with the Malaysia, my second home program, you are required to invest in real estate. It's also not known as being the most open and progressive country when it comes to equality, and although the cost of living in Malaysia is low, you can buy lunch for just a few dol
lars. There are high taxes on alcohol, so your happy hour might cost you a little bit more. The retirement visa you'll want to look at is the Malaysia, my second home program. This was developed by the Malaysian government in an attempt to attract foreigners to live and retire there, and it was quite successful. They've just given it an overhaul for 2024, and they've created three different categories, silver, gold, and platinum. And depending on which category you apply for, that determines how
many years of residency you can get there. So it's anywhere from five to 15 years, but with the platinum tier, you can actually get permanent residency, and this is something that was really difficult to come by before. There are some perks that come with this visa. You can buy a house, you can import or buy a car, and you can also apply for a domestic helper there. If the idea of living a Mediterranean lifestyle surrounded by sun, blue seas and ancient history appeals to you, then look no furt
her than Greece. From the bustling streets of Athens to the tranquil shores of the Greek islands, Greece has become popular for digital nomads, retirees and foreign investors, not least because of its golden visa program, it's also the cheapest country in Western Europe. I've always been fascinated with Greece probably because of its ancient history, amazing climate and delicious food, fresh produce, fruits, nuts, cheeses. It's really the home of the Mediterranean diet. One of the highlights of
my travel life was definitely visiting Olympia, the site of the original Olympic games and being able to walk across the field that ancient athletes played on. I also picked olives from olive trees and sailed through the Greek islands. It's just an amazing place and friendly people, nice culture and affordable lifestyle, and it's also a great hub if you want to explore the rest of Europe and the world. You can get really cheap flights out of Athens, for example, round trip to Rome for only $63,
but you've also got direct flights to the Middle East, Africa, Asia, and beyond. There are some downsides of course, first and foremost, you have the language barrier. If you don't speak Greek, there's also some economic challenges in the country, some political instability, and also the infrastructure can be inconsistent, including the healthcare. Greece doesn't have the best healthcare system in the world. It's not the worst either. It ranks about 41, but you could get some inconsistent access
to care depending on if you're living in a very remote area or on a remote island, you might need to travel to a place with more modern facilities. There can be some petty crime in certain areas as well. Cities like Athens for me took a little bit of getting used to. You've got some graffiti, petty theft, so there are some things to watch out for, but nothing much different than in any country. To retire in Greece, you have really two main options for your residence permit. You could either go
with the Greek Residence Permit, which requires 2000 euro per month in income, or you can go with the Greek Golden Visa where you can invest in real estate from 250 to 500,000 euro. The golden visa option is nice if you think that you're going to be traveling around because there's no minimum stay requirement and that gives you permission to live in Greece for up to five years. Now, technically it is a path to permanent residence and citizenship, although Greece has one of the lowest naturalizat
ion rates around one or 2%, so it's not the best country if you want to get another passport. And then if you go with the residence permit option, then that is for one year, and that's also renewable. For taxes you can expect a 7% flat tax there. And then also Greece has international tax treaties with other countries, so you can avoid that dual taxation Nestled in the heart of South America, Ecuador offers retirees a diverse and enriching experience with its breathtaking landscapes, including t
he Amazon Rainforest, the Andes Mountains, and the beautiful coastal regions. If you're looking for a country with a lot of natural beauty complimented by its low cost of living, then Ecuador can make a prime choice for you to relax and enjoy a peaceful lifestyle. Ecuador's friendly people and welcoming locals make it easy for ex-pats to integrate into the community. Whether you're living in vibrant Quito or the tranquil streets of Cuenca, Ecuador is a solid choice for retirement because it has
so much diversity and natural beauty within the country and also a much lower cost of living compared to some neighboring popular countries like Costa Rica or Panama. Ecuador has a really central location between north and South America. It's close to the US. It has a dollarized economy and due to its position on the equator, you don't have to worry about hurricanes. Property in Ecuador is also quite affordable. You can rent an apartment or a house starting from a few hundred dollars per month,
or you can acquire a nice apartment or property in a place like Salinas for a hundred or $200,000. Ecuador has quite a modern healthcare system, although it does rank 82nd internationally, but the IESS government system there could run you around $95 per month, although you can also pay out of pocket for doctor's appointments or surgeries or get private health insurance. On the downsides there's definitely been an uptick in violence and crime in recent years, especially since the pandemic. Many
people say that the country is destabilized right now, and there's at the time of filming this video an actual internal armed conflict going on, which doesn't bode well for the country's reputation, but a lot of the locals and local expats will say that this type of violence is very isolated and that it's not affecting the country as a whole. If you're looking to retire in Ecuador, then check out the country's retirement or Jubilado visa that you can get starting from age 65 and up. It's less th
an $500 to apply and you can apply from within Ecuador or your home country as long as you can prove a monthly income of $800, and there are a few other requirements. Fortunately, foreign pensions from abroad are not taxed in Ecuador, but if you are a tax resident there, otherwise you could be subject to income taxes on their progressive scale from zero to 37%. Do you see yourself enjoying a Mediterranean lifestyle, maybe a glass of Kava or wine or Sangria at lunch and some siesta in the afterno
on? If so, Spain welcomes you with its straightforward visa process provided you can support yourself financially and not work while you're there. Spain was voted the number two country in the world for expats to live, and it's also the second most affordable country in Western Europe after Greece. Spain is one of those countries that really appeals to a lot of people, whether you're looking to retire there or not, it offers so much from the amazing food and Tapas to the history and culture, but
it's one of those countries that really has a lot of variation when it comes to where you want to live while staying within Spain from the beaches of Costa del Sol to the Pyrenees Mountains, to the Canary Islands, and of course the bigger cities like Madrid and Barcelona, generally, you can keep your cost of living pretty low around $2,000 or $2000 euro per month, but if you are living in the cities, then your cost of living will be significantly higher, especially when it comes to your rent an
d housing because Spain is such an attractive option. It attracts a lot of foreigners there. So with a lot of expats there, you can get access to a really strong community, but if you move there, then I highly recommend learning Spanish because that will just help you adapt that much better. And many people don't speak English outside of the more touristy areas. Spain is also known for being quite an open society when it comes to equality and equal rights, and it's also known for having really g
ood public transportation. So you can zip around the country or the continent of Europe pretty easily by bus or train. Spain also has one of the top rated healthcare systems in the world. You can get private insurance there for less than $150 per month and with a $0 deductible. Just remember that if you're going to Spain on the Non- Lucrative Retirement Visa, then you can't work or have any income producing activities while you're there. So if you need to make extra money, keep that in mind. Als
o, as I mentioned, housing can be quite expensive in the urban areas, and if you're looking to invest in a property, well then property taxes are also quite high there. Although Spain has a beautiful culture, there are some things that could take getting used to. First of all, the restaurants don't open until really late nine or 10:00 PM so if you're looking for those early bird dinner specials, Spain is probably not the place for that. Spain is also infamous for having quite a tough bureaucrati
c system there, and the local foreigners like to call it hashtag getting when things don't go their way. If you're looking to get a driver's license in Spain, that test will be in Spanish. Another reason to learn the language if you're looking to retire in Spain, then first check out the Non- Lucrative Visa, which is good for one year, renewable for up to five, and then you can get permanent residency and ultimately citizenship there. You can also go the Golden Visa Route, but that will set you
back at least half a million euro up to one or 2 million depending on the type of investment that you're making in the country. When it comes to taxes, your foreign pension could be partially or fully exempt from taxes there. It really depends, so make sure to check with a tax advisor, but Spain is notorious for its high income taxes from 19 to 47%, Frequently topping retirement destinations lists. Panama is known for its modern infrastructure, tropical climate, and the famous Panama Canal. The
country offers various retiree benefits like discounts on entertainment, medicine and more. Plus its Pensionado program is one of the most retiree friendly visas in the world. Panama, this is one of those golden countries for retirement. It's sunny, it's warm, it's a dollarized economy. It's close to North America and South America for that matter, and it's also in a good spot to be able to avoid those hurricanes and tropical storms. It's safe, it's beautiful. You've got the beaches, you've got
the mountains of Boquete, and it is a very friendly and welcoming culture. So that's why this country is always ranking high as a great place to live abroad or also to retire. Now, Panama City can be expensive depending on the type of housing you have, but you can pretty much expect to be able to live on social security income in most parts of the country. There's not too many downsides to living in Panama, which is probably why it ranks so highly on many of these lists. One thing that comes to
mind though is the weather. So although it's a warm climate, it can also be very sweltering hot and humid, especially in Panama City. So if you wanna escape the heat, then make sure to head to the mountains. Also, the language barrier, cultural adaptation, these are gonna be problems that you'll face wherever you go, so it's not something that's very specific to Panama, but it is a very slow and relaxed pace of life, which is good for some aspects of retirement, but can be frustrating in other w
ays with that slow government bureaucracy and also mañana time where mañana can mean anytime or it could mean never, or it could mean actually tomorrow In Panama, you can get the Pensionado Visa with a thousand dollars in monthly income, but if you're not sure that Panama is the right place for you, then it's one of the few countries that has a really generous tourist visa of 180 days. So you can go and stay in the country for six months and test it out first. It's a great place to go if your to
p priorities are living somewhere tax free and having good healthcare. Panama is known for its very modern healthcare system with many English speaking doctors, and also it doesn't tax foreign income or foreign pensions With its pleasant climate, affordability and proximity to the United States. Mexico is a top choice for retirees. It was also voted the number one country in the world for expats in 2023, and if you can prove your financial stability, you can easily obtain a temporary residency v
isa or get permanent residency. One of the things I love about Mexico besides the food is its amazing diversity, but also how much history it has. This is not a country like many island nations where it's all about the beach. Although Mexico has 7,000 miles of coastline, it also has more UNESCO world heritage sites than any other country in the Americas. So regardless of what you're looking for, it's likely you can find it in Mexico. Whether you want to go surfing in Baja California, live in the
cosmopolitan city or find a cooler mountain town with a strong expat community, such as a place like San Miguel de Allende. Mexico is also well located if you're coming from the US or Canada, but it's a country that embraces tourism, so it has generally good infrastructure and also a lot of direct flights from Asia, Europe and beyond. When it comes to healthcare, Mexico is a medical tourism mecca. People, especially from the US and Canada, flock there to get high quality, low cost treatment. It
's a country where you can expect to find quite a few English speaking doctors and it's really affordable to pay out of pocket or to get private health insurance. One time when I was in Playa del Carmen, I got really sick, but I was able to go to an urgent care, get antibiotics, and I think the doctor's appointment and everything cost me around $30 on the downsides. One of the things that I don't like about Mexico is that you can't drink the water. No matter how many times I've gone to Mexico,
somehow I feel like I always get sick from the water, but luckily, that's a really easy fix. You can just get one of those refillable bottles, put it in your kitchen. But on a more serious note, Mexico does have that narrative in the media, especially as being a dangerous country. Although anecdotally, I have never felt unsafe there or experienced any crime or known anyone who's been a victim of a crime there. It can be quite isolated in in certain areas of the country and even the US State Depa
rtment, which is historically very conservative when it comes to travel warnings. They only have active advisories right now in six of the 32 Mexican states. So as with anywhere you go in the world, use caution, but I wouldn't discount Mexico just on the basis of safety and security. Another thing that I've seen a lot of foreigners complaining about online are the noise levels in Mexico, depending on where you're living, if you're in a place with a high population, you know it's possible that yo
u could be kept up at night by barking dogs or woken up in the morning by roosters or maybe hearing cars drive by with speakers on the roofs. But that is just part of the culture, and that's something that's quite common throughout Latin America. And you can also find a smaller village or rural area to live in without as much noise. Infrastructure is also a plus for Mexico. You could also get fiber optic internet in a lot of places, although I have noticed that it can cut out sometimes and the e
lectricity can as well though it's getting less frequent in recent years, probably not an issue if you're going to retire there, probably more so if you're going to be working remotely, but overall gets a thumbs up from me. Now, if you're looking to retire in Mexico, then you'll wanna get the Mexican Resident Card. However, you'll first need to apply for the Temporary Stay Visa, which is renewable for up to four years. Now, in either case, you will need to apply for this from outside of Mexico a
t an embassy or consulate, and also you can't work on these visas and permits, so if you wanna work, you'll need to get a separate work permit. One of the biggest requirements is proof of financial solvency, and the exact numbers vary depending on where you're applying from, but it's typically around $300,000 in savings or investments and also showing $7,000 of income or pension in the last six months. Foreign pensions and social security benefits are not taxed in Mexico, but if you are a foreig
ner moving there and you become a tax resident, then you will need to file an annual tax return and you could owe taxes on your worldwide income Known for its stunning coastline, ancient history and affordable lifestyle, Portugal has become a favorite for retirees in recent years. The country's sunny beaches, historic towns and modern healthcare system often keep it among the top retirement and living abroad destinations in the world. Portugal is full of diverse places to live from the buzzing c
apital of Lisbon to the relaxed beaches of the silver coast or the Algarve. Portugal is also extremely safe, ranking high on the global peace index. It has good infrastructure, roads, public transportation, and makes a close hub to the rest of Europe. Portugal has the number 12 healthcare system in the world according to the World Health Organization and as a foreign resident there you get access to both the public and private healthcare. You can also pay for a private health insurance plan that
shouldn't cost more than around $150 per month, but Portugal was downgraded on this list compared to last year due to its increasing cost of living and also uncertainty over its tax visa and residency policies. So you might have remembered when Portugal discontinued the real estate option of its Golden Visa Program, which made a lot of people unhappy, but also probably needed to happen as it was likely responsible for a lot of the increase in housing prices. However, in 2023, Portugal's, NHR, N
on Habitual Resident Tax Benefit was discontinued, and this gave people a lot of tax credits and exemptions for up to 10 years on foreign earned income. So if you are already a resident there, you could be grandfathered into this system by the end of 2023, but if you're looking to retire in Portugal in 2024 and beyond, that is definitely something to keep in mind if you're thinking of moving to Portugal. Some of the other downsides to living in Portugal, other than the increasing housing costs,
which have largely been attributed to foreign investors and renters, that's a topic for another day though, is that uh, some people mention that they don't like seeing the abandoned buildings there. They don't like the graffiti and also the Portuguese bureaucracy can be quite frustrating to people. But one thing to keep in mind when looking at the cons of these countries is that regardless of where you move in the world, there will be pros and cons. There will be things that you like and don't l
ike, and it's really important to know that when you move to a country, that country is not going to change for you. It's probably not going to change while you're there. So it's important to assess both the pros and cons, but kind of find a balance to what you are happy to live with and what is a deal breaker for you. One thing for me personally, although people rave about the weather and the climate in Portugal, is that I found that the insulation isn't that good, at least in the places that I
've stayed. So if it was cold outside, it felt colder inside my apartment. If it was hot outside, it felt hotter inside. So make sure to get someplace that has climate control, if that's important to you. Or like my Portuguese friends say, if you're cold, just wear more clothing. Now since the real estate category of Portugal's Golden Visa was discontinued, then hands down, the most popular option to retire in Portugal is through the D-7 Visa. Now with this program, you'll need to have 760 euro
in monthly income as well as health insurance, a clean criminal record, and proof of accommodation. The good thing about this option is that you can apply for permanent residency after five years, and it's also a path to citizenship, but this is the type of permit for you if you're planning on actually living in Portugal, because you will need to be there for about six months per year to be able to maintain your residency status. As I mentioned, Portugal's NHR benefit was discontinued in 2023,
so it's unclear at the moment what the income tax will be on your foreign pension moving forward. Now, there was a new system called the Incentivized Tax Status Program that was proposed with a 20% flat tax rate, but details on that are still pending. Either way, the NHR program had to go according to Prime Minister Antonio Costa who said that the program no longer made sense, and it was inflating the housing market, which has reached unsustainable prices. I think we can all agree on that. Costa
Rica was international living's top pick for a place to retire this year, and for good reason. Nestled in Central America, Costa Rica offers retirees a peaceful life amidst lush rainforests, scenic mountains, and beautiful beaches. The country's excellent healthcare system, warm weather, reasonable cost of living, and retirement friendly policies make it an excellent choice for retiring abroad, especially if you're looking for a peaceful nature centric retirement. Costa Rica has a lot of pros w
hen you're looking for a retirement destination, it's stunningly beautiful with beaches that look like postcards. We've got the most incredible sunsets, especially on the Pacific coast, and it's also a very friendly, welcoming local population that is really embracing tourism as well as foreign residents from around the world. If you're looking for year round, spring-like weather, then consider Costa Rica's Central Valley, which has some of the best climates in the world in towns like Atenas. Bu
t then of course you also have the beaches and coastal areas. One of the biggest benefits of going to Costa Rica though is its proximity to the US and Canada. You've got direct flights to many international airports, and you have two international airports within the country, both San Jose and Liberia. Costa Rica also has a thriving medical tourism industry. So if you're looking for affordable, high quality healthcare, then Costa Rica is the place you can actually get access to the public health
care system if you're getting the Retiree or Pensionado Visa in Costa Rica, although private insurance is also quite affordable, and I've never paid more than 50 or $60 for a dental cleaning or a regular doctor's appointment. I've also paid out of pocket for hospital tests and lab work, you name it, because it was actually easier and cheaper for me to just pay for it than to even go through the process of recovering that money through my insurance. So you've got good healthcare, you've got a goo
d location, and it's also an ecotourism haven full of beautiful nature and wildlife and a relatively affordable cost of living. You might also experience less culture shock in Costa Rica. A lot of my Costa Rican friends have said that they think that Costa Rica has really adopted a lot of US culture, and you'll see a lot of US chains down there. English is widely spoken in many areas as well, and there's a lot of international residents. So it's a place that you can really feel like home without
having as much culture shock compared to if you move to Paraguay, Uruguay, or places where there aren't as many foreign retirees. A downside to living in Costa Rica is that it is one of the most expensive countries in Latin America. So although it's possible to keep your cost of living low, if you're living like a local, your cost of living can easily creep up to two, three, $5,000 depending on where you're living if you have a car and a few other factors. So depending on your lifestyle, it cou
ld get quite expensive there, and in some cases it could cost you the same or more than your home country. Crime and violence also a very big consideration there. Now, Costa Rica's known as being the Switzerland of Central America for its natural beauty, its peace. It doesn't have an army, but crime has been a problem there, and it's a big issue right now. It has been for many years, but it seems to be on the uptick. I recently read some articles that people are buying more security systems. Peo
ple are feeling less safe, including local business owners who are trying to find ways to protect themselves and feel like they can't necessarily rely on the police force or the government. So this is something to keep in mind. Also, a lot of the crime doesn't necessarily make it into the mainstream media. I talk about this in my video on why expats leave Costa Rica, so you definitely wanna watch that before moving to Costa Rica if you haven't seen that already. But in general, Costa Rica is a b
eautiful place. It offers a really nice lifestyle, and it is an optimal place to retire, especially if you are from North America. If you're looking to retire in Costa Rica, then you can check out the Pensionado, Rentista and Inversionista, and you can qualify for this with as little as a thousand dollars in monthly income. There's no minimum age requirement, and it's valid for two years. Also, a path to permanent residency and citizenship. After 10 years. Now, you will need to pay monthly into
the kaha or Social security and healthcare system. This can be 13 to 15% of your income. Now, there are a few countries that landed just outside the top 10 on this list, including Italy, Thailand, Malta, Uruguay, and Ireland. But there are also a lot of countries that I think should have made it on this list but didn't. I'm thinking of places like Argentina where you can qualify for their Pensionado Program with as little as $800 in monthly income. Or what about the Philippines where you can liv
e there forever? With the SRRV Visa, there's also Indonesia, Turkey Islands in the Caribbean, as well as plenty of countries in Eastern Europe. So if you wanna know more about other places you can retire, then check out these videos next.

Comments

@TravelingwithKristin

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@Rbhawk3rd

Awesome video. I moved to Mexico from Florida 3 years ago.Best move ever. I live in Queretaro. It's safer here than anywhere in the U.S. this is coming from a retired NYC police officer.

@khmerMinnsota

No matter where we live, there are always pros and cons as life is short to do the things you don't love doing. I've been hopping between Thailand, Cambodia, and Vietnam for ten years now since my early retirement from the States. Be mindful, be kind whenever possible, and be happy of what we have. We came to this world barehanded and we're going back with nothing. Sharing is caring. Peace from a genocide survivor under the Khner Rouge killing madness from 1975 to 1979✌️

@rafaeleduardorodriguez7677

I am from Colombia and if possible I will not retire here. This country is not made for old people, transportation infraestructure is bad, traffic is one of the worst in the world, and security has become a real problem in big cities. Infletion is the highest in the region. Crime has gotten out of hand

@martinwhetter6041

Great video, thanks. Over the years, I’ve been to most of the places that you mentioned in the video, so I’m grateful for that. I’m from Canada and now that I’m ‘retired’, I enjoy going to Mexico. No jet lag, it’s an easy flight, my dollar goes farther than in the US or Europre, it’s nice cultural change from where I live and I find the Mexican people to be very polite and I’ve never had a safety issue. I like the geographical variety in Mexico too. It is noisy at times, but I use ear plugs during the holidays. Thanks for sharing your experience.

@DavidWilliams-qr5yj

Kristen I so agree how you ended your video by showing that There are lots of great countries out there to retire in. I have been retired for ten years now. And one thing that I notice is. These countries rise and fall on the best place to retire list constantly. I'd like to propose an idea to you and your listeners. Instead of retiring to one country, Pick two or three countries that you would like to live in. Buy a primary residency in one of the countries, where you can store your stuff .Slow travel between countries. You will avoid being taxed.If you stay in one country, they will eventually TAX YOU. Most travel so this way you don't need a visa and avoid taxes 😊 you also avoid these SCAMS where you are required to deposit money, buy inflated property ,or have to show income. PROBLEMS SOLVED. You also have a permanent home to feel stable free of tax and visa problems, which change constantly. My plan is 90 days in Italy, 90 days in DaNang Vietnam 🇻🇳, and one day less than 6 months in my house in Chiang Mai Thailand 🇹🇭 Then one week in USA for family and friends. 90+90+179+6= 365 days 😊

@thierrysf

I have a friend who lived in Costa Rica for 20 years. He left the country recently because of the-out of-contol crime. One of his expat neighbors was murdered in his home. This crime wave can be explained by the drug trafficking that has taken over the country in the last 10 years. So Kristin is absolutely right when warning us about the safety issues in this otherwise very attractive retirement country. As far as I am concerned safety is the #1 dealbreaker for a retirement place. So Costa Rica is out of the picture for now and it is a shame because the country had so much to offer and the language barrier is a lot less than in most other countries.

@ReallyStrongGuy

Awesome! Kristin always has thorough and intelligent High Effort videos.

@donnapartow

Agree that Costa Rica is very expensive, especially compared to neighboring Colombia - which I vastly prefer

@thisandthatfloridausa6112

Good informative video, thank you. God bless you.❤️

@kommsofort6977

I really appreciate the information, and the points you make in each video. Pros and Cons, laying out the options for each place. Keep up the good work!

@Merseyrock

I liked how you took a 'mainstream' list of options but, rather than rehashing its proposed rankings, you took the trouble to 'react' to it, as proposed: Giving the pros and and cons for each option, based upon your personal experience and knowledge on the subject. That way, 'the list' makes more sense, and the info in it is more meaningful to one looking for retirement alternatives.

@stacie007

I am currently traveling along the French Riviera on a long stay visitor visa (non-renewable). My first time in France and I am blown away. It's the beauty and just the whole vibe. But I find it is quite expensive to eat out so I don't do it much. The grocery shopping is amazing and very reasonable. I agree with learning French making things much easier. I know very little, but I think it will be less of an issue while I'm in the Nice/Antibes area. Definitely under-rated for retirement.

@Stopit77

Thank you! This was very thorough and well done!

@2ndSprings

We're heading back to Ecuador in September. We'll begin splitting our time between holidays in the States and the rest of the time in the south of Ecuador. Thanks for always providing great content! Keep on keepin' on!

@ianpatrick23

This is such a fantastic rundown of the best retirement countries

@30AndAWakeUp

Great stuff, Kristin! Thanks for sharing. ❤

@jleffel6969

Nice to see you smiling again. All the stuff you've been posting lately, you've been looking all pensive.

@paulhenry5174

The time stamp was perfect. Thank you

@AdamGordon1977

Thanks for sharing Kristin. I definitely want to retire somewhere and I am still trying to decide where to go. I've been to 5 counties on this list.