15 Best Countries to Retire Easily in 2023

Many factors are taken into consideration when choosing a country for retirement like health care, climate, cost of living, infrastructure, and so forth. But generally, the most important and the first thing of consideration is the retirement visa policy of the desired country. A retirement visa is a resident's permit that allows one to spend his golden years abroad. To qualify for this type of visa, applicants are required to go through several procedures and requirements set by the country's government. Each year, we do an update of the top countries to retire in, so subsequently, this year, we've listed some of the best countries for retirees that are providing the easiest retirement visa options. Keep in mind, we have only mentioned the countries that have a straightforward retirement or pensioner's visa program, while countries that are just offering golden visa programs and other investment-oriented programs for residency will not be mentioned in this video. Furthermore, the ranking is set according to the right balance between cheap and quality to make sure all classes of people are satisfied. So with that, here are the 15 best countries to retire easily in 2023. 15. The UAE The United Arab Emirates and specifically its city of Dubai has plenty of exciting opportunities for affluent retirees who don't mind the warm climate and the high cost of living. As the whole idea of retiring here is about the glitz and glamour, opulent shops, amazing shows and music festivals, high-class restaurants, cinema complexes, theme parks, golf clubs, and many other entertainment opportunities. It has an up-and-running retirement visa which allows residents, their spouses, and dependents from around the world to retire in the Emirates if they fulfill the requirement of earning at least $5,500 per month. However, applicants cannot apply for this visa outside the country. One must first apply for an entry visa, enter Dubai, and then apply for this retirement visa. All things considered, it can be a great country for retirement as it's modern, offers tax incentives, has great amenities, and is well aware of its position on the global stage. 14. Malaysia Known for its vast and beautiful beaches, immaculate rainforests, and the surroundings of its multitude of tropical islands, Malaysia is still a worthy contender for retirees. It offers a reputable visa for retirement called Malaysia My Second Home Program. In the past, this was one of the most affordable programs for retirees in Southeast Asia, but nowadays it's a bit expensive and lots of due diligence is involved. Nonetheless, to qualify for this program, the main applicant needs to be at least 35 years of age and must have liquid assets worth a minimum of $118,000 with an offshore income or pension of at least $2,400 per month. This visa is valid for 10 years and can be renewed indefinitely as long as the retiree keeps meeting the criteria. But keep in mind, the main candidate needs to be in Malaysia for at least 90 days a year to not lose the visa. 13. Uruguay Situated between Brazil and Argentina, Uruguay is a highly desirable country for retirees wanting to spend their golden years in South America. Plus, it's the safest out of all the countries in South America and hosts a fascinating mix of Latin American and European cultures. Despite being small, it showcases diverse landscapes from white sandy beaches to lakes and the Pampas, in addition to its capital city of Montevideo. The country offers a straightforward retirement visa which is issued to retired foreigners who receive a minimum of at least $1,500 per month from pension or other income generated from abroad. 12. Albania Situated in southeastern Europe on the Balkan Peninsula, Albania is blessed with pristine Adriatic and Ionian coastlines with the imposing Albanian Alps in the north. Considering the cost of living, decent healthcare system, affordable housing, year-round good weather, and tax exemption on foreign income, Albania is an appealing retirement option along with its digital nomad visa. It offers a modernized retirement permit which allows retirees to residency based upon basic requirements including an income of at least $1,100, a notarized rental agreement, and private health insurance. This visa is issued for a period of 12 months initially. After the first renewal, the visa will have a validity of two years, and five years after the third renewal, the visa holder will be eligible to apply for Albanian citizenship. All things considered, Albania is home to beautiful cities and regions to relocate depending on preferences and budget. 11. The Philippines The Philippines offers lots of tranquil areas that are perfect for retirees who want to get away from the loud city lifestyle and enjoy the crystal clear beaches and beautiful tropic weather. There are currently more than 65,000 foreign retirees living in the Philippines as it offers a simple retirement visa known as the Special Resident Retirees Visa, which is open to people as young as 35. To qualify for this program, applicant needs to make a one-time deposit of $50,000 or prove to financially support himself and any joining family members. All in all, the Philippines is not an expensive destination, which makes it a top choice for retirees all around the world. 10. Italy Known for its mild climate, great food, and high quality of life, almost 50,000 foreign nationals make the decision to retire in Italy each year. And retiring in Italy is made not only possible but easier through the Italian Elective Residency Visa. Although the country does offer several other visa options, the most viable is the Elective Residency Visa as it specifically targets retirees. To qualify for this visa, the applicant must have a minimum annual income of $34,000 and if applying with a spouse, the annual income should be around $41,000. So in general, this amount is increased by 20% for every dependent that comes with the main applicant. But bear in mind, these funds cannot come from active work whilst being retired in Italy, but rather from savings, investments, or pensions from the native country. 9. Thailand With its beautiful beaches, delicious food, great prices, and tropical setting, Thailand is the most appealing country for retirement in Southeast Asia. Plus, it's world-renowned for its welcoming nature and the government actively strives to maintain this status by promoting tourism and instigating different types of permanent resident visas. As of today, its government is issuing two types of extendable retirement visas for four nationals – the one-year Thailand Retirement Visa, named OA, and the 10-year Retirement Visa, OX. To be eligible for the OA Retirement Visa, applicants must be at least 50 years of age and must generate a monthly income of approximately $1,900, while the OX Retirement Visa is only granted to affluent retirees hailing from North America, Europe, or Oceanian countries. With that being said, both of these visas are unique in their own way and offer almost identical perks. On the downside, the retiree can only bring their spouse or dependent child under the age of 16 with any of these visas. 8. Mexico Mexico offers a varied climate, from tropical heat along the coast to cool mountains inland, and a wide range of places to live from beach resorts and modern metropolises to quiet small towns. On the flip side, the media portrays it as unsafe, but that doesn't mean the whole country is unsafe. Sure, there are certain areas that are deemed risky, while most parts famous with expats and retirees are much safer. Additionally, retiring in Mexico nowadays is a prominent choice for many North Americans wanting to get away from high costs of living. Retired foreigners who want to reside permanently in Mexico can easily attain its permanent residence card, often referred to as the Mexico Retirement Visa. The criterias to obtain this card are quite simple and easy, like proving to have received a set monthly income of around $2,000. 7. Greece This is a country with stunning islands, pristine beaches, clear blue waters, green valleys, breathtaking landscapes, and everything a retiree could ever want. Moreover, its low cost of living makes it a worthy candidate to retire in Europe on an affordable monthly budget. Aside from its expensive Golden Visa program, it grants a specific visa for non-EU retirees named Greece Financially Independent Person Visa. This program enables foreign retirees a Greek residency without any sort of investment or fees. However, it's often touted as a semi-retirement visa because applicants are allowed to work remotely for an overseas employer under this visa program. While in terms of eligibility, anyone receiving income from external sources, be it rental, passive, or pensions, above $2,200 can typically serve as the basis for a Greek FIP visa application. This program also allows candidates to bring a spouse and dependent minor children to Greece without any subject to higher financial self-sufficiency requirements. 6. Ecuador Ecuador's foreign crowd has grown by 30% over the past five years, and the country attracts North Americans and Europeans retirees, coming to enjoy its perfect combination of climate, culture, and affordability. The pace of life in this country is slower than its counterparts, and there's plenty to do. Retirees can establish their base in one of its cities on its beautiful Pacific coast and explore the Andes, the rainforests, and its nearby islands. The country offers an easy opportunity to retire through its jubilato visa, which simply translates to retired visa. The conditions to apply for this are simple. One must have a monthly income of at least $800 and should have a clean criminal record. 5. Bulgaria Whether you want to enjoy beautiful mountainous landscapes or a thriving city hub, this Eastern European country has it all. It enjoys the lowest prices for goods and services across all EU member states. Although it's now experiencing a bit of inflation, it's still not as much expensive than its counterparts. To retire in Bulgaria, the visa a non-EU citizen needs to apply for is Pensioner D visa. It's valid for a period of 12 months and can be easily renewed after it expires. To qualify, applicants need to prove that he or she has sufficient funds to financially support themselves during their stay. Furthermore, holders of a Bulgarian retirement visa can bring their spouse along with their children under the age of 18 without any extra requirements. 4. Mauritius Mauritius attracts retirees from around the world. They come for its natural beauty, remote areas, and a relaxed lifestyle. For many, retiring in this paradise is a dream come true. Plus, it has a very lenient retirement residency permit offering a very long validity period of 10 years that makes retiring here very advantageous. Qualifying retirees must be at the age of 50 years or above and should be liable to transfer a minimum monthly amount of $1,500 or an annual transfer of at least $18,000 to a local bank account in Mauritius. In addition to all this, Mauritius is a low-tax jurisdiction, so retirees will not be taxed on wealth, inheritance, foreign income, or on any other belongings that they're transferring there. 3. Panama Panama has become a popular retirement retreat in recent years. It's all due to its low government taxes and price discounts for foreign investors and retirees. Last year, it was ranked as one of the easiest countries to retire in the world by many reputable outlets. Anyone 40 or older can apply for this pensionado visa as long as the applicant demonstrates an income or pension of only $1,000 per month and $250 for each dependent. To top all this, qualifying retirees for this permanent residency visa also receive several tax exemptions on household goods with substantial discounts on everything from utility bills to medical exams and transportation services. 2. Costa Rica Costa Rica has one of the highest living standards in all of Latin America. That, along with the beautiful beaches, affordable real estate, fantastic year-round weather, and rich culture are just some of the many reasons retirees choose Costa Rica as their number one retirement destination. Although bear in mind, it's not the cheapest country to retire in Central America, but anything between $2,000 and $4,000 a month can accommodate a comfortable life for most couples here. It also offers a pensionado visa, which is quite similar to Panama's retirement visa. To be eligible, applicants must receive a lifetime monthly pension of at least $1,000 individually. This can be through social security, annuities, retirement funds, military pensions, or other retirement benefits. And it gets even better. Foreign retirees living in Costa Rica pay no income tax on their foreign income, so most can enjoy their retirement income without being deducted. 1. Portugal The stunning view of the Atlantic Ocean, mild climate, a relatively low cost of living, perfect beaches, and excellent cuisines, Portugal has become the most popular destination for retirees in the world. This is all thanks to the proficiency of the Portuguese government that has eased residency requirements and taxes to make the country more appealing to retirees and expats. Unlike neighboring Spain that only offers its retirees a golden visa scheme, Portugal offers a passive income retirement visa called the D7 visa. This residency permit is the most lenient and effortless way to retire in Portugal. First of all, the income threshold is very low. One simply needs to have a steady income from pensions and savings that is above the minimum wage. Secondly, it's a renewable visa valid for two years, during which the applicant must be in the country for at least six consecutive months. Overall, Portugal is a fairly developed and safe country to retire easily in the world.