The greatest destinations with citizenship for retirement in the globe combine security, decent healthcare, a reasonable cost of living, and recreational opportunities. Because of the significant disparities in the cost of living, your money is worth a lot more in certain nations than it is in others. Your money and savings can go further than you think.
A reduction in costs combined with an improvement in quality of life is a win-win situation. Some people take advantage of this chance to retire sooner than they would have been able to in their native nation.
Ranked countries to live in Europe in retirement:
Finland took first spot due to its moderate lifestyle, affordable housing, and stunning natural surroundings. Benefits for attending theaters, museums, sports halls, and theme parks are available to all retirees.
Spain is ranked second in the world for the number of people who survive to be 100 years old. There are discounts on public transportation for seniors in Spain, and on some days, travel is free. There are also “universities for the aged,” which provide short courses and seminars in literature, philosophy, economics, and foreign languages to the elderly.
Slovenia came in third place for street safety and has an average life expectancy of 81 years. According to the Environmental Performance Index, the country lies in the middle of Europe and is among the top five cleanest countries.
Investment residence or citizenship for retirement programs
Seven of the nations in the ranking provide investment-based residence or citizenship for retirement. These countries allow for a variety of investment choices, including real estate or bond purchases, as well as the creation of companies or jobs for the populace.
Countries such as Spain, Portugal, and Austria all have well-developed health-care systems that are among the finest in the world in terms of accessibility and outcomes. Moving to a new nation does not imply that you will lose access to world-class health care. When deciding where to retire, consider the quality and variety of healthcare providers available.
Many popular retirement destinations in other countries have a big, well-established retirement community. One of the benefits of these groups is that newcomers may meet individuals who share their interests and are eager to offer their experiences, as well as services and activities, that are appropriate for your lifestyle. It also guarantees that the infrastructure needed to meet the requirements of retirees is in place and sustainable in the long run.
The number of countries with retiree immigration schemes continues to rise. There are alternatives for every budget, interest, and way of life. The majority of them function in the same way. You must demonstrate that you can sustain yourself while in the nation. The amounts of income, sources of income, and required proofs differ per nation.
This article will focus on migrating to Spain and Portugal for retirees.
Spain: The non-lucrative visa for Spain demands a yearly income of about USD $30,000.
The Non-Lucrative Visa is for people who want to move to Spain and have the financial resources to live there without having to work. To get this permission, you must show that you have enough money to reside in Spain. This can be accomplished by presenting documentation demonstrating that one gets a set monthly amount on a permanent basis, such as from a pension fund, or bank records demonstrating one’s average bank balance over the course of a year, together with the client’s name and account number. In 2021, the Non-Lucrative Visa requires a minimum yearly income of 27.115.20€, plus an extra 6.778.80€ per family member, as well as bank statements from the previous six months.
A clean criminal record and a medical certificate are also required for the Non-Lucrative Visa. This visa allows people to legally reside in Spain but not to work there, and it must be renewed every year. To renew, you must stay in the country for at least 183 days. The Non-Lucrative Visa has a three-month and fifteen-day validity period. After obtaining this visa, applicants must apply for a non-profit residence permit, which is renewed every year.
Portugal: The Portugal D7 Passive Income Visa requires a yearly income of about $15,000 USD.
Portugal is known as the “European Florence” because of its pleasant temperature and welcoming attitude toward immigrants. The number of retirees has risen in recent years as the government has made provisions to make their life easier, such as eliminating the pension tax for ten years.
The Portugal D7 visa, often known as a retiree visa or a passive income visa, is popular among seniors, distant workers, and digital entrepreneurs. The D7 visa’s reach extends beyond passive income to cover persons of working age who are fully capable of supporting themselves in Portugal through financial investments, corporate interest and profits, or even their own investments (including real estate). Individuals applying for the D7 Visa must show that they have the bare minimum of personal resources required to sustain themselves in Portugal, but they are not obliged to make any type of prior investment in the nation.
If you have a consistent income through remote work contracts with firms outside of Portugal, you can apply. If you want to bring family members with you, you’ll need to set up an additional 50% of your required monthly income for an adult and 30% for each kid. To enhance your chances of getting accepted, we recommend that you provide proof of income that goes above the minimum requirements.
The D7 visa requires you to stay in Portugal for a minimum of 6 to 8 months, interpolated throughout the whole validity period of your residence permit (1 year initially and every 2 years after its renewal). A residence permit is given for a duration of two months. Investors purchase real estate, bonds, and venture capital fund shares, open bank accounts, form businesses, and invest in science and cultural heritage. The investor and his family can seek Portuguese citizenship after five years.
The program’s parameters will change on January 1, 2022: real estate purchases will be limited to the Azores, Madeira, and inland areas, and the minimum investment amount will increase.
Retiring abroad may be a thrilling experience, but it is not for everyone. However, it may be the most beneficial thing you can do with your senior years. Retirement abroad allows you to broaden your horizons while also increasing the value of your retirement assets. And if you like these things, this may be the perfect retirement for you.
Orience International can help you gain citizenship for retirement and residence in a foreign country via investment. You may contact our investment program specialists if you want to retire to one of the greatest nations in the world.