12 Best Islands for a Comfortable Retirement 2023

Nowadays, spending your golden years on an island has become an increasingly popular choice for many retirees. With serene environment, fewer crowds, less traffic and a slower pace of life, retirees can enjoy a more relaxed lifestyle and focus on things that truly matter to them, such as spending time with loved ones, pursuing outdoor activities, or simply taking in the natural beauty of the island. This can lead to a greater sense of fulfillment and contentment in retirement. There are a plethora of retiree-friendly islands in the world, each with their own set of attributes. But the islands mentioned in this video are some of the most sought-after and well-renowned for retirees, offering dedicated visa policies and a hunk of other comforts for retirement. Furthermore, all of the listed islands provide most modern-day services and facilities, with great connectivity as well as social and community activities. In addition, buying property in some of these islands is also very lucrative, as they offer great tax incentives for those looking to invest in the local real estate market. So with that, here are the 12 Ideal Islands for Retirement in 2023. 12. St. Lucia Located in the eastern Caribbean Sea amidst the Lesser Antilles island chain, St. Lucia offers a unique blend of lush rainforests, pristine beaches, and picturesque landscapes that make it a coveted destination for travelers and retirees alike. The lifestyle in St. Lucia is laid-back and relaxed, with a focus on enjoying the beauty culture. Moreover, it hosts a range of recreational activities, including golfing, sailing, and wellness retreats, providing ample opportunities for relaxation and rejuvenation. Plus, its warm climate allows for an active outdoor lifestyle, with average temperatures ranging from 25 degrees Celsius to 30 degrees Celsius throughout the year. While living costs can vary depending on lifestyle choices and location, housing, health care, and daily expenses can be more affordable than other Caribbean islands, making St. Lucia an attractive option for retirees looking for a place to stretch their retirement savings. On top of this, it provides a citizenship by investment program to those investing at least $100,000 in the island. This program provides an opportunity for retirees to establish long-term residency in St. Lucia and enjoy the benefits of living in a tropical island. 11. Fiji Located in the South Pacific Ocean, Fiji is an archipelago made up of 300-plus islands, out of which only two are the most inhabited and accommodating 90% of its entire population. Retiring in Fiji can be a dream come true for several reasons. Firstly, it boasts stunning natural beauty, with pristine beaches, crystal-clear turquoise waters, lush rainforests, and majestic mountains, providing a serene and tranquil environment for retirees to unwind and enjoy their retirement. Secondly, foreigners are allowed to buy real estate on any of its islands, and there is a vast range of property options to choose from. However, it's essential to conduct thorough research, seek professional advice, and consider all aspects before making any real estate purchase in Fiji. Furthermore, the island nation also offers the most lenient retirement visa in the entire Oceania region, lasting a period of five years. To qualify, retirees have to show proof of annual income or savings of around $15,000 US. 10. Canary Islands The Canary Islands, a Spanish archipelago made up of eight islands located off the coast of northwestern Africa, are becoming an increasingly popular retirement destination for individuals seeking a serene and enjoyable retirement. One of the most enticing reasons to retire in the Canary Islands is the excellent weather. The islands are known for their year-round mild climate, with average temperatures ranging from 18 to 30 degrees Celsius throughout the year. This consistent and pleasant climate of the Canary Islands allows retirees to lead an active and healthy lifestyle, which is essential for maintaining physical and mental well-being during retirement. Moreover, the healthcare system in the Canary Islands is of a high standard and is well-regarded internationally. Overall, all of these islands are unique in their own way. Tenerife, the largest and most populated island, is well known for its well-developed infrastructure and international connectivity. While Gran Canaria and Lanzarote are known for their stunning sand dunes, vibrant resorts and beautiful beaches. 9. Phuket, Thailand Located in southern Thailand in the Andaman Sea, Phuket is the largest island of the country. It's known for its stunning beaches, vibrant nightlife of Patong, exotic cuisines and busy night markets, making it a popular retirement destination for those seeking a tropical paradise with plenty of excitement. Plus, its affordable cost of living, reasonable healthcare facilities and easy connectivity along with friendly locals make it worthwhile. Retiring in Thailand is encouraged by the Thai government and the procedure to retire is also straightforward as the country offers several types of visas to retirees. For instance, its non-immigrant OA visa program, which is granted to applicants meeting specific financial requirements including demonstrating funds of approximately $25,000 in a bank account or monthly income of at least $2,000. Once granted, the retirement visa allows retirees to stay in the country for as long as the applicant continues to meet the requirements. 8. Grenada Another Caribbean island located in the Lesser Antilles, Grenada is an ideal retirement destination due to its stunning natural beauty, warm tropical climate, decent infrastructure, friendly local culture and relaxed lifestyle. One of the key advantages of retiring in Grenada is its affordable cost of living. While it may not be the cheapest retirement destination in the Caribbean, it's still relatively affordable compared to Bahamas and Bermuda. Housing options, including rentals and purchases, are available at various price points, making it feasible for retirees with different budget levels. And, despite being high on imports, utilities, groceries and transportation are all generally affordable, helping retirees stretch their retirement savings even further. Additionally, Grenada does not impose income tax on foreign source income, which can be a significant advantage for retirees seeking potential tax advantages. In addition to all that, its Citizenship by Investment program also offers potential benefits for retirees seeking a second passport. 7. Sardinia, Italy The second-largest island in the Mediterranean Sea, Sardinia boasts miles of pristine beaches and turquoise waters and golden sandy shores perfect for relaxing and enjoying water activities. The island is also characterized as a blue zone, which means life expectancy on this island is one of the highest in the world, and it's a proven fact that blue zones, like Sardinia, typically emphasize a healthy lifestyle, increasing longevity, health, and happiness. The landscape of Sardinia is diverse, with lush green mountains, rolling hills, and picturesque villages that provide ample opportunities for outdoor activities. Additionally, it's home to several enticing towns and cities for retirements, like its capital, Cagliari, a vibrant city with rich cultural heritage and well-developed infrastructure. Aside from the coastal parts, there are a range of areas further inland, offering purchasable land for those looking to set up a farmhouse. In conclusion, Sardinia offers a myriad of reasons for retirees to embrace a healthy lifestyle and bask in the island's beauty. 6. Mauritius An underrated island nation located in the Indian Ocean off the southeastern coast of Africa, Mauritius is a retirement paradise with its breathtaking natural beauty, relaxed lifestyle, modern amenities, vibrant culture, excellent healthcare system, and cost-effective living. It offers a 10-year residence permit to retirees aged 45 years or above. This permit requires applicants to provide evidence of monthly income of at least $1,500 to $2,000 or open a bank account in Mauritius with annual savings of around $18,000 to support themselves during their stay in the country. In addition, there are many favorable tax policies, including no capital gains tax, inheritance tax, or wealth tax, which can result in potential tax savings for retirees who invest in property on the island. 5. Bali, Indonesia Bali is an island province that forms part of the Indonesian archipelago right in the middle of Java and Lombok. It's a popular tourist destination gaining worldwide recognition as a top travel destination for its unique blend of natural beauty, cultural heritage, and warm hospitality. Another appealing aspect of retirement in Bali is the affordable cost of living. Retirees can enjoy a comfortable lifestyle without breaking the bank. As the cost of everything, accommodation, food, transportation, and healthcare is also relatively low, making daily expenses more manageable. In addition to affordability, healthcare systems in Bali are of a good standard, with well-developed facilities that cater to the needs of expatriates and retirees. Moreover, the visa required to retire in Bali is also quite simple. Applicants must provide proof of pension on income of roughly $1,500 per month or at least a lump-sum saving of $19,000 for a year. 4. Malta Known for its stunning landscapes, including beautiful beaches, rugged cliffs, and clear blue waters, Malta is a small island nation located right in the heart of the Mediterranean Sea. It's developed into a modern and prosperous country with a well-developed infrastructure offering modern transportation, utilities, and healthcare facilities. The country also has a stable political environment and is a member of the European Union. On top of this, it also exhibits favorable tax incentives for non-residents on foreign-sourced income, which can further ensure substantial tax savings for retirees who receive income from outside of Malta. Another significant advantage is Malta's rich history and culture. The island is steeped in history, with ancient temples, medieval cities, and unique architecture that showcases its cultural heritage. On the downside, the cost of living in the country is a bit high, and its retirement program requires to showcase an income of at least $38,000 per year or a hefty capital of at least $620,000. 3. Madeira, Portugal With a large international community, the island of Madeira is one of the most popular places to retire in all of Portugal. It's situated in its eastern part of the North Atlantic Ocean, off the coast of Morocco, and despite being 900 kilometers away from mainland, it hosts all the modern-day facilities that Portugal has to offer. The connections between different areas on the island are efficient. The ferry network and international flights to all major European cities are well-established and frequent. The climate in Madeira is another significant draw for retirees. The island enjoys a subtropical climate, with mild temperatures year-round. Summers are pleasantly warm without being too hot, and winters are mild with little to no snow. This moderate climate allows retirees to enjoy outdoor activities throughout the year. Buying retirement property on this island is also very lucrative, with a wide variety of options, including apartments, villas, and houses in various locations across the island, ranging from coastal areas to rural and mountainous regions. Besides, Madeira has an up-and-running tax regime that provides tax incentives on certain types of foreign-sourced income, such as pensions and investment income, for a period of 10 years, making it an attractive option for retirees seeking tax benefits. 2. Crete, Greece By far the biggest and most populous Greek island is Crete. Approximately 700,000 people live here permanently, with many more visiting and retiring each year. It's a great destination for those looking to retire close to both the sea and the mountains, with lots of places to choose from. But unfortunately, Greece does not have a retirement visa for foreigners. Nonetheless, there are other alternative ways one can retire in Greece, such as its residence permit, which is handed out to applicants who are a beneficiary of monthly passive income from a source outside of Greece. Aside from this permit, the country is running a Golden Visa program, which is only granted to those investing at least $500,000 in the country. Moreover, EU nationals can stay in Greece for as long as they want without the need for a visa or permit, and if they are hailing from the US or Canada, they can reside for up to 90 days. In a nutshell, Crete has built up to a solid retirement recommendation with easy access from most places in the world. 1. Mallorca, Spain The largest of the Balearic Islands, Mallorca is often touted as one of the best islands to retire in the world. It's got everything that a retiree desires, beautiful scenery, amazing nightlife, excellent shopping scene and sandy beaches. Plus, it benefits from the Mediterranean lifestyle, along with stable investment opportunities, interesting history and culture. Additionally, the island boasts an excellent healthcare system, including both public and private facilities. The crime rate is low, and the island's friendly community makes it easier for retirees to feel at home. Mallorca also has a vast range of leisure activities available, including sports such as golf and tennis, as well as cultural events. However, the cost of living can be a bit higher than mainland Spain, especially if one chooses to reside in its prime areas. But nevertheless, basic necessities aren't costly, and a retired couple could live very comfortably on $3,500 to $4,000 a month in its main city of Palma.