Many people prefer to settle in a country to retire other than their country of origin, in search of a better lifestyle, reasonable costs of living, favorable climate, and easy access to healthcare.
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Below is a list of the top 5 countries to retire in 2024, ending with the most preferred, taking into account the factors mentioned above: 1. Costa Rica
Costa Rica's natural beauty is no secret, with beaches, cloud forests and coffee plantations filling its relatively small area. The country has been very popular among expats over the past 40 years, so you can easily find established communities of peers or English speakers, although you should definitely learn Spanish if you're looking at countries to retire to and are considering choosing one for a permanent move to. . Costa Rica's popular Pura Vida lifestyle encourages people to relax and get outdoors, and it's easy to find a plane to fly to the US, Europe or the Middle East, with several airlines flying from the international airports in San Jose (SJO) and Guanacaste ( LIR). Cost of Living: Couples can live comfortably for $2,100 per month in Costa Rica. This includes all costs, including housing, transportation, medical care, utilities, food, and entertainment. Health care: Once you become a resident, you can either pay monthly for a comprehensive medical program, which usually costs between 7% and 11% of income, or take out a private insurance policy. You can also pay out of pocket, with the cost per visit being about $70 for a regular doctor's visit, and $90 for a specialist. Visa Requirements: There is no age requirement for a retiree visa, but you must have a monthly pension of $1,000. You must apply in person to the Costa Rica Immigration Office in San Jose, and full details can be found on the Costa Rica Embassy website. 2. Portugal
Whether you prefer rugged Atlantic beaches, or cobblestone towns, Portugal has something for everyone. The European country has a wonderful Mediterranean climate, with local seafood, olive oil and wine. Residents enjoy a comfortable environment, which includes all world-class amenities, such as high-speed Internet, airports, and reliable public transportation. Cities like Lisbon and Porto are cultural hotspots, with enough museums, concert halls and trendy cafes, and there are also plenty of other charming towns and natural wonders that can be reached with a quick train ride, during which you can see the vineyards of the Douro Valley, and the beaches. The rocky landscape of the Algarve, and the English-speaking expat community in Cascais. Cost of living: Portugal is one of the most affordable countries in Western Europe, where a couple can live comfortably for $2,500 to $3,000 per month outside major cities. Healthcare: Once you have your Portuguese ID number and residence permit, you can access the state medical system. Reimbursem*nt costs under this system are very low, usually no more than $10 per visit. You can also choose private insurance; A couple in their 60s can expect to pay €300 ($325) per month, which covers both people. Visa requirements: One of the most popular options for retirees is the Golden Visa, which was introduced in 2012 to attract foreign nationals. To qualify, you must be 18 years old, have a clean criminal history, and must invest approximately $540,000 in real estate in Portugal. But there is another option, which is to apply for a 120-day residence visa; You can then apply for permits for two years in a row, and then apply for permanent residency after five years. 3. Mexico
Mexico is a convenient choice for American retirees, and the country offers much more perks than its geographic proximity, where you can easily find high-speed internet, cell service, good highways, reliable electricity, and familiar shops and restaurants, along with local gems. And thanks to the huge expatriate community, which includes more than a million Americans, at the very least, for parts of the year, you don't have to master the Spanish language to get around easily. Despite all that is known about the United States' southern neighbor, Mexico still has stunning landscapes and a distinct culture that make it a fun place to live. Head out to learn all about local holidays and traditions, then visit one of the country's many beach towns to spend an afternoon along the white sand and turquoise waters, for just a fraction of the fun you can have by retiring to Mexico. Cost of Living: A furnished two-bedroom home in a mid-priced area (such as Puerto Vallarta or Mérida) costs about $600 per month, and utilities are rarely more than $30 each. In general, you can live on about $2,300 a month, including rent, utilities, food, entertainment, health care, and transportation. Health Care: Unemployed residents can enroll in the Mexican Institute for Social Peace (IMSS) health care system, which costs about $89 per month for someone in their 60s. But many people choose to pay out of pocket, with a typical clinic visit costing between $15 and $40. Visa Requirements: To qualify for a permanent resident visa, you must have a monthly pension of at least $2,200. 4. Panama
Panama often appears on these kinds of lists, and it's easy to see why. The country is located between North and South America, and is only a three-hour flight from Miami. It offers Pacific and Caribbean beaches, and coastal cities like Coronado have created expat communities. In most cases it was prosperous and welcoming. The Panama Pensenado (or Panama Pension) visa is one of the most attractive visas in the world, offering deep discounts on everything from airline tickets to theater performances. Expat communities in Panama are not quite as well-established as they are in Costa Rica, which is not necessarily a bad thing, as you can find thousands of expats who tend to live among the locals rather than in separate enclaves. Cost of Living: A retired couple can live very well in Panama City for less than $3,000 per month (including rent), while a single person can retire almost anywhere in Panama for $1,700 per month. Healthcare: There are many excellent hospitals and clinics across the country (such as Johns Hopkins International's Punta Pacifica Hospital), and all legal residents are entitled to a 20% discount on prescription drugs if they are of retirement age, which is 55 for women, 60 for men. Visa Requirements: You must be 18 years old, have a monthly pension of at least $1,000, and apply in person through a Panamanian lawyer. Full details can be found on the Panama Embassy website. 5. Spain
It's never too late to improve your quality of life, and that's pretty much guaranteed if you retire in Spain, which offers a wonderful climate, high mental and physical well-being among the citizens, the best olive oil, and a lifestyle that values good food, entertainment and siesta time. Cities along the Mediterranean coast provide more than 300 days of annual sunshine, ensuring you don't have to spend your retirement years shoveling snow or waiting out the cold indoors. Aside from the great food and weather, Spain also has a lot of cultural offerings, which cannot be ignored: the architecture in Barcelona, the shopping in Madrid, the museums in Valencia, and the flamenco shows in Andalusia. Add to that great healthcare, reliable infrastructure, and an abundance of English speakers, and the country makes for a very convenient retirement destination. Cost of Living: The cost of living in Spain is lower than most people expect. A couple can live very well on the coast for about $1,970 a month. This number is higher in Madrid and Barcelona, but decreases in smaller regional cities. Health Care: Expats are required to carry private health insurance for the first five years of residency, and there are dozens of alternatives to choose from, but you can expect prices around $135 per month for a healthy person in their early 60s, and this covers everything with no deductible or pay. Common, including laboratory and dental tests. Visa requirements: The residence visa is the most common option for retirees, and applicants are required to submit a certificate of an annual income of about 30,600 US dollars, among a set of other requirements, which can be found on the Ministry of Foreign Affairs website, but there is another option, which is to apply for a golden visa, Which requires a real estate investment of 500 thousand euros (about 540 thousand dollars). (The New Arab)
