TOP RETIREMENT DESTINATIONS ABROAD AND VISA TIPS

Continuing our two-part series on why you should retire abroad, here is a list of five destinations that check many of the boxes. There is also a suggestion to consider in terms of the visa route for residency.

HERE ARE THE BEST COUNTRIES FOR A COMFORTABLE RETIREMENT IN 2023

Harvey Law Group identifies Thailand, Malaysia, Greece, Portugal, and the Caribbean (specifically Antigua & Barbuda, Saint Lucia, Saint Kitts & Nevis, Dominica, and Grenada) as the top five countries for retirement.

Each of these destinations provides retirees with advantages such as great weather, a low cost of living, and excellent medical care. Furthermore, reitrees can consider various visa routes for residency, including the Thailand Elite Visa, the Malaysia My Second Home Program, the Greek Investment Residence Permit, the Portuguese Golden Visa, and citizenship by investment programs in the Caribbean.

WHY SHOULD I CONSIDER RETIRING TO THAILAND?

For starters is has wonderful weather year-round and a superb medical and dental system that costs from half to a fifth of that in the USA. According to livingcost.org the prices for rent and food are 65 to 70% less than in the United States for the equivalent. It is a long way from the USA, but there are a dozen countries with in a 3 or 4-hour flight to visit. And there are already thousands of expats of all nationalities living there, including over 40,000 Americans.

Route: Consider the Thailand Elite Visa starting at THB 600,000 for a 5 year residency with a privilege visa (USD 17,000 at time of writing). Everything in terms of immigration and a slew of other VIP perks such as opening a bank account, obtaining a Thai driver’s license, providing complimentary limousine transfers to and from the airport whenever you travel, and much more will be provided for you alongside this Visa. 

WHY SHOULD I CONSIDER RETIRING TO MALAYSIA?

Great weather, a cost of living 50% lower than the US, therefore funds can go twice as far, excellent medical and the added advantage of being largely English speaking. 

Route: The Malaysia My Second Home Program (MM2H) – grants a 5-year renewable muti-entry visa to successful investors (and qualifying family members) for a fixed deposit placement of MYR 1,000,000 (about USD 24,000) plus a little more with dependents. Note this is an investment – hence you can get retain your investment. 

WHY SHOULD I CONSIDER RETIRING TO GREECE?

Imagine a great lifestyle, wonderful history, scenic, good medical care, and a low cost of living. It’s also closer than the Asian options, whether your family is European or American, there are many different nationalities within Greece. You can also choose from a mainland lifestyle or one of the islands.  

Route: The Greek Investment Residence Permit (GIRP). It requires an investment of at least EUR 250,000 with the possibility to retain your investment plus interest.   

Once you have obtained this Residency Permit you can travel almost anywhere in Europe as Greece is a part of the Schengen area (26 Schengen countries visa free). 

WHY SHOULD I CONSIDER RETIRING TO PORTUGAL?

With a cost of living that is less than two-thirds that of the United States; beautiful weather; a beautiful country; and simple transportation throughout the country. Excellent medical, that can be largely free with government insurance and subsidies. Many expats already reside in Portugal and, with permanent residency, you can travel around Europe for up to half your time (90 days in every 180).

Route: The Portuguese Golden visa is an investment visa which starts at EUR 280,000 (Approximately USD 300,000) but as an investment, you get the principal and interest back if it performs and the Portuguese economy has been doing comparatively well.

WHY SHOULD I CONSIDER RETIRING TO THE CARIBBEAN?

Five Caribbean countries offer citizenship by investment programs: Saint Lucia, Saint Kitts & Nevis, Dominica, Antigua & Barbuda and Grenada. People seeking a second passport and citizenship are the main target of these programs. However, retirees can take advantage of them.  

Route: For Antigua & Barbuda, the financial commitment is USD 100,000 in a government donation or a USD 200,000 investment in real estate. The real estate route is an investment, therefore retention plus interest is possible. Both the donation and real estate options are available throughout most of the Caribbean citizenship by investment programs.

Once granted citizenship, you can live in any of Caricom’s 20 member countries. This gives you several excellent choices, with great weather, and a low cost of living. If you renounce your US citizenship, you need pay no taxes, because Antigua & Barbuda has zero personal taxation. As well as getting back to the States is also only a 4-hour flight. 

Harvey law corporation has 3 decades of experience in immigration law and offices in over 20 countries, including in Grenada.

If you would like more information, just go to https://harveylawcorporation.com/antigua-and-barbuda-citizenship/ .

If you wish to discuss your needs or plans with our legal staff, please contact us on [email protected]