Best Places for Retiring Abroad 2022
U.S. Money news just released their top ten places to retire overseas in 2022. Let’s have a look at their choices.
- Comporta, Portugal
Comporta takes the number one spot for 2022. Portugal continues to be a top-tier retirement destination due to its picturesque region, high health-care standards, residency options, tax regulations, and variety of lifestyle options. The rough environment, numerous rice terraces, grass-covered sand dunes, and long stretches of golden sand beaches distinguish Comporta. Comporta is also only 90 minutes south of Lisbon, has a laid-back vibe that can best be described as “hippie chic.” Comporta offers an excellent standard of living at a low cost of living. You can also transfer a pension to euros if you are thinking of retiring in Potugal.
2. Puerto Vallarta, Mexico
Mexico’s Puerto Vallarta takes second place. Puerto Vallarta, formerly a little fishing community on the Pacific coast set on a stunning bay, it is today one of Mexico’s most sophisticated and cosmopolitan beach resorts. The Mexican government ploughed significant money into Puerto Vallarta’s infrastructure, such as improving highways, roads, and public utilities, making Puerto Vallarta more accessible and appealing as a retirement destination. Plays, films, jazz, classical concerts, gourmet restaurant festivals and gallery openings are among the cultural events that are regularly staged. Health care is excellent and there are a large number of friendly expats in the area. In 1963, John Huston filmed “The Night of the Iguana” in the nearby community of Mismaloya, boosting the area’s reputation.
3. Cayo, Belize
Arriving in third place, Cayo is a land of mountains, Mayan ruins, rivers and waterfalls. This is Belize’s frontier known for its wide-open spaces, fresh air and sunshine. Located in Belize’s rain forest interior, Cayo is a place of far-reaching vistas where retirees can live self-sufficiently and in good company. Cayo is a top choice for the adventure seeking traveller and independent retirees looking for a back-to-basics lifestyle. San Ignacio is Cayo’s biggest town and home to a large and growing community of foreign retirees and expats. Most people speak English, and Belize residency is easy to establish.
- Northern Cyprus
Located in the Turkish Republic, Northern Cyprus is one of the best places in the world to live a low-cost beach lifestyle. For as low as $75,000, you can buy beachfront property and live a fashionable European lifestyle on the water for $1,000 per month, an almost unheard-of expense in this area of the world. Northern Cyprus features the island’s longest and most picturesque stretches of coastline due to its peninsular topography. It also has plenty of sunshine, mild weather all year, and a rich cultural and historical heritage.
- Paris
In the heart of old Paris is an open-air museum brimming with architectural marvels and historic relics. You can take a leisurely stroll through quiet squares and well-kept parks, or attend thrilling gallery openings, fashion weeks, and enjoy live theater and music performances. Paris is the best destination on the planet to find what many people consider to be a rich and fulfilling existence. The best part is that retiring in France may be less expensive than you think. When compared to other established cities, public transit, internet, phone, and electricity costs can be quite low. France also has a world-class health-care system that is less expensive than medical treatment in the United States. There are also inheritance and tax benefits for retirees in France.
6. County Clare, Ireland
Along the west coast of Ireland is one of the country’s best-kept secrets: County Clare. Clare is home to the rugged natural beauty that Ireland is famous for, including patchwork green fields and dramatic cliffs that overlook moody Atlantic waters. There are beaches with surfable waves, golf courses, country walks and abundant fishing. To qualify for residency in Ireland, you’ll need to show at least 50,000 euros of income per person per year. That puts full-time retirement in the Emerald Isle out of reach for many people, making this beautiful and welcoming island a top part-time retirement option.
- Città Sant’Angelo, Italy
Città Sant’Angelo is a medieval town set in the beautiful foothills of Abruzzo, one of Europe’s greenest regions. With majestic piazzas, palazzi, cathedrals, and monasteries going back to the 9th century, Città is full of historical charm. Città is part of the “Città Slow” movement, an international campaign to fight globalization and homogenization in small towns, and the local way of life harkens back to a simpler time. Pescara, the provincial capital of Abruzzo, is approximately 30 minutes away and offers a greater selection of products and services as well as a taste of city life. There are also tax and pension benefits for retirees moving to Italy.
8. Salinas, Ecuador
Salinas is set along a length of sandy Pacific shoreline with soaring high-rises, earning it a reputation as “Little Miami.” The cost of living in Salinas, on the other hand, is significantly lower than in Miami. For $100,000, you could acquire a beach house. The majority of seaside condos in Ecuador are built to accommodate large Ecuadorian families. You’ll have to look outside of the city and away from the beaches for homes and smaller apartments. Salinas is close to the equator and boasts year-round pleasant weather, despite the fact that the skies are gloomy for several months of the year. Ecuador offers simple and affordable residency alternatives, including a retiree-specific visa that can be obtained with as little as $425 in monthly retirement income.
9. Phuket, Thailand
Phuket takes the ninth spot. Southeast Asia offers some of the best chances in the world for lowering your retirement costs. Phuket has a long-standing reputation as an international retirement destination, with a community of about 100,000 expats who are friendly and helpful. Phuket’s breathtaking natural beauty, beautiful beaches, and picturesque mountain views draw retirees from all over the world. The environment is warm and tropical all year, making this a great place to visit if you prefer outdoor sports. Phuket is famed for its golf courses, in addition to boating and water sports. Thailand is also a medical tourism destination with outstanding health care facilities.
- Dominican Republic’s Las Terrenas
Last, but not least, Las Terrenas has all the trappings of a classic coastal resort, such as turquoise waters and white-sand beaches with swaying palms. This isn’t your average Caribbean beach town, either. Las Terrenas is home to a diverse international community of expats from France, Italy, Germany, and Switzerland. The cultural richness of the island town is mirrored in its gastronomic offerings, which include French boulangeries and an Italian gelateria, as well as local eateries serving Dominican specialties. The inexpensive cost of living in Las Terrenas sets it apart from other Caribbean island getaways. There are also straightforward and economical residency alternatives in the Dominican Republic.
Retirement Checklist for Moving Abroad
- visit your retirement destination before you move
- consider renting instead of buying a property overseas for the first few years
- set up a local bank account in the local curreny
- set up an offshore bank account in GBP / EUR / USD
- look at what you need to do to qualify for a retirement visa or marriage visa
- set up expat health insurance
- look to review your current savings & retirement plans
- speak to a financial adviser
- speak to an international moving company
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