Best Countries to Retire in Europe
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00:51 Key factors to determine what are the best countries to retire in Europe
-Low taxes on pensions and investments
-Easy to acquire a residence permit if you are not an EU citizen
-High quality of life (health care, infrastructure)
-Favorable climate (ideally avoiding extreme cold or hot weather)
-Safety
-Affordable cost of living and property market.
02:13 Portugal
Relatively easy for non-Eu citizens to acquire residency in Portugal if they receive a foreign pension. The financial requirements are lower than in Spain, Italy or Greece.
NHR - non-habitual residency program that can reduce your tax rate significantly for up to 10 years (program is changing)
One of the best climates in Europe year round
Expensive property market in Lisbon, affordable elsewhere
Direct flights to the US, UK, most countries in Europe and Brazil
04:10 Greece
New scheme - 7% tax on foreign pensions (for countries which have a bilateral tax agreement with Greece - US included)
Safe country, full EU member, part of the Schengen area and the eurozone.
Affordable real estate even in the capital Athens, prices per square meter are lower than in most other European capitals
Relatively easy to get a residence permit if you are a financially independent person (and not an EU citizen).
05:36 Italy
Italy is one of the most iconic tourism destinations in the world.
What people often don’t know is that you can move to Italy as a retiree, even if you are not an EU citizen.
The residence permit to live in Italy as a retiree is called Residenza elettiva or elective residency.
Financial requirements are higher than Portugal, but comparable to Spain to obtain this residence permit (only if you are a non-EU citizen).
Quality of life is high in Italy, especially in the Northern part of the country, which has one of the best transport infrastructures in the continent.
Italy is a great choice if you want to enjoy its idyllic landscapes, delicious cuisine and unparalleled cuisine.
Italy is, however, the most expensive country in this list. For that reason, if you are considering retiring in Italy prepare your pockets. Nevertheless a great country to spend any period of your life.
06:36 Spain
Spain is another popular option if you want to retire in Europe
Affordable cost of living, EU and Schengen area member.
Spain has some of the best health care systems in the world
There are residence permits available for non-EU citizens retirees. But the income requirements you need to show are higher than in some other countries in this list. Currently, you need to show an income of roughly 2500 USD per month to be able to apply for a residence permit as a retiree in Spain.
Property prices are appealing in Spain, if we compare it to other countries in Western Europe. While Madrid and Barcelona are quite expensive, most other cities and regions in the country are quite affordable, both for renters as buyers.
07:30 Montenegro
9% flat tax on all types of income (including pensions)
Buying property grants you the right to acquire residence (no minimum).
There is still a citizenship by investment program in Montenegro, but it is due to end soon.
You can also acquire a residence permit by opening a company (as a self-employed person or hiring staff).
08:52 Serbia
One of the most underrated countries in Europe
The capital Belgrade offers the best value for the money in Europe - affordable cost of living and real estate, with a good infrastructure and safety.
Private health care is extremely affordable and is of great quality
Easy to acquire residency through a real estate purchase (no minimum) or opening a company.
Privileged location in Central Europe.
Belgrade offers excellent connectivity to most cities in Europe, and even year round direct flights to the US.
10:00 Bulgaria
Bulgaria has the cheapest residence permit in the European Union for retirees. The financial requirements to retire in Bulgaria are much lower than in countries like Spain, Italy or Greece. It is cheaper than Portugal also.
Bulgaria is the cheapest European Union country when it comes to real estate. You can live in a big house in Bulgaria for a fraction of what it would cost in Spain, Italy or Portugal.
Bulgaria is definitely the best country to retire in Europe if you want to save money, as its cost of living is also the lowest in the European Union.
Despite its relatively small size, Bulgaria has some of the most diverse landscapes in Europe, with mountains, plains and beautiful beaches on the Black Sea.