Discover the best expat retirement countries for 2025! Explore affordable destinations with great healthcare, low taxes, and vibrant cultures to enjoy your golden years.
January 31, 2025
By: Bobby Casey, Managing Director GWP
On average, people are retiring around 63.1 to 64.4 years of age. Even if you’re nowhere near your 60s, it’s good to think of what you’re going to do in your golden years.
Most people like the comforts of home, so they typically stay in one place. However, there’s no rule that says you have to do the same.
You can start a new chapter in your life by moving abroad, which can spark new adventures. Not to mention, you can enjoy more of your financial assets too.
So where are the best expat retirement countries to relocate to? We’ll show you a comprehensive list below.
Best Places To Retire In The World
Panama
This may come as a shock to many since it’s not usually on people’s radars, but Panama is probably the best country to retire to from the USA. It’s relatively close to the US, so if you’re originally from there, you won’t have to move halfway across the world.
Panama has a warm climate, making it a welcome change if you’re from a colder place. It also has a modern infrastructure and is very expat-friendly.
This nation has a low to moderate cost of living too. In most areas, $1,500 to $2,500 a month is sufficient for a comfortable life.
Here, foreign-sourced income isn’t taxed, so you won’t have anything deducted from your pension. Plus, it’s easy to qualify for the pensioner visa; you only need a pension of at least $1,000 a month (and $250 per month per dependent) to qualify. With this visa, you can qualify for permanent residency and benefit from discounts on things like healthcare, travel, and dining.
If you’re worried about healthcare, don’t be. There’s excellent private healthcare and it’s affordable, especially when compared to the US.
Mexico
Even closer to the US is Mexico, which is also one of the best places to retire in the world. On top of its close proximity to the US, Mexico offers various climates (from beaches and forests to semi-arid areas) and rich culture. You can also get dual citizenship in this country.
Mexico’s just across the border but has a low cost of living. Anywhere from $1,500 to $2,500 a month will cover comfortable living in popular expat areas.
Generally, foreign income is untaxed unless you become a tax resident. Also, there’s no inheritance tax and there are low property taxes if you want to own a home in Mexico.
As for healthcare, both public (IMSS) and private healthcare is affordable.
Costa Rica
Head south, and you’ll find Costa Rica, which offers a haven of peace and tropical weather. It’s perfect for those seeking eco-friendly living.
The cost of living is moderate here, and you’ll need $2,000 to $3,000 a month to have a comfortable life. The upside is that there’s no tax on foreign income and there are simple residency programs for retirees. For example, there’s the pensioner visa, which has similar requirements as the one in Panama.
There’s universal healthcare available in Costa Rica, which everyone pays into. If you need private healthcare, then rest easy knowing that it’s affordable.
Thailand
Go on an exciting adventure in Asia by retiring in Thailand. This nation makes our list thanks to not only its vibrant expat communities (full of digital nomads), but also its warm weather and diverse culture.
One of the best things about Thailand is that it has a very low cost of living. You can get a high standard of living just off of $1,500 a month! In addition, foreign income isn’t taxed if remitted within the country during the same year.
You’ll find excellent private hospitals in Thailand. Expect low-cost treatments too.
Malaysia
Another Asian country to consider is Malaysia, where you’ll find a tropical climate, cultural diversity, and modern amenities.
The cost of living is a little higher than in Thailand, but it’s still low to moderate. You can enjoy luxury living with just $1,500 to $2,500 a month. And like most (if not all) countries on this list, you’ll benefit from top-notch healthcare at a fraction of US costs.
You won’t be taxed on foreign-sourced income in Malaysia too. And if you’re looking for long-term visas and want to purchase property, try the Malaysia My Second Home (MM2H) program.
Portugal
Portugal’s perhaps the best country to retire in Europe. You’ll bask in the Mediterranean climate while feeling safe. Plus, there’s a lively culture in this nation that’ll give you plenty to do.
The cost of living is moderate in Portugal. While €1,500 to €2,500 a month will give you luxury in some countries, it’s just enough to have a comfortable lifestyle here. The upside is that there’s high-quality, affordable public and private healthcare systems in this nation.
One drawback is that pensions from abroad may be taxed at a flat rate of 10%. In addition, the non-habitual residence (NHR) regime once offered significant tax reductions for up to 10 years, but is now much harder to qualify for.
However, it’s relatively easy to move to Portugal. With the D7 visa, your pension only has to be 100% of the minimum wage, which is €10,440 per year (or €870 per month) as of January 1, 2025.
Greece
Those who love the Mediterranean climate can put Greece on the list too. This nation will have you sighing in bliss with its laid-back living, and you’ll never tire of its historic sites.
Its moderate cost of living means that for €1,500 to €2,500 a month, you’ll be fine. And you’ll have accessible, affordable healthcare, both public and private. You do have to pay a monthly fee for the former, but it’s a very small amount taken monthly.
If you meet the residency requirements, then you’ll have a 7% flat tax on foreign pension income for up to 15 years. You can move here through means of the Greece Financially Independent Person (FIP) visa program or the golden visa if you want to own property.
France
For milder weather in Europe, look northwest to France. You’ll still have Mediterranean beaches, but the diverse landscapes in this country mean that you’ll also get the countryside and even the Alps. You’ll have a blast in your golden years having exceptional food, wine, and cultural experiences.
The major caveat of living in France is that it has a moderate to high cost of living. Of course, larger cities like Paris or Nice are expensive, but rural areas (like the Dordogne or Brittany) are more affordable; you’ll likely need €2,000 to €3,500 a month to live there.
France does tax worldwide income, including pensions. However, many double-taxation treaties ensure you aren’t taxed twice. In addition, the régime d’impatriation fiscale (expatriate regime) offers reduced taxes.
This nation’s strongest point for retirees is that its universal healthcare system (Sécurité Sociale) is considered one of the best in the world. Expats can access it through the PUMA system or private health insurance.
Italy
Geographically speaking, Italy lies between Greece and Paris; it has a Mediterranean lifestyle, which means a slower pace of life. Residents can enjoy beautiful landscapes and a rich cultural heritage.
In general, Italy has a moderate cost of living. You’ll pay more if you want to live in cities like Rome or Milan, but in smaller towns or rural areas, you’ll need around €1,800 to €2,800 a month to live comfortably.
Souther Italy may be of interest to you, as there’s a 7% flat tax on pensions in specific regions. Otherwise, there’s a flat tax regime for expats of €100,000 per year on worldwide income.
Italy also has a universal healthcare system (Servizio Sanitario Nazionale), which is affordable and high-quality. You can opt for private healthcare if you wish though.
Malta
One more European nation to think about in regard to expat retirement is Malta. It also has a Mediterranean climate, and the culture is unique to the islands. The official languages are Maltese and English, so you won’t struggle with the language there.
In recent years, the cost of living has increased, meaning it’s moderate to high. To cover most of your needs, you’ll have to spend €2,000 to €3,000 a month.
The upside is that there’s a highly ranked healthcare system that’s public and free for citizens and residents (as well as EU, UK, and Australian nationals). You should also know that foreign pension income remitted to Malta is taxed at a flat rate of 15%.
Consider the Best Expat Retirement Countries for 2025
This is but a starting point for the best expat retirement countries. We’ve given you the basic highlights, but it’s up to you to research the full residency requirements and any double taxation agreements between your home country and the destination.
If you don’t do your due diligence, then you may be disappointed when you relocate. Don’t forget to factor in healthcare quality, cost of living, and overall lifestyle preferences before moving.
Get in touch with us today if you’re wondering about asset structuring while living overseas. Global Wealth Protection can help protect you from litigation and excessive taxes.
