Within a decade the percentage of Americans who live outside the US
More and more American retirees are choosing to settle in another country. At last count, there were 701,000 on the Social Security rolls who were drawing their pension from the US and living abroad, 20% more in a decade.
Furthermore, in today's polarized political climate, even more are discussing the likely to move to another country if the candidate they support does not win the election.
In a recent poll, a record 34% of Americans said they would leave the US if they could, with young be more likely to want to do so.
Forbes has published a list of the best places for an American retiree to live.
It is the first post-pandemic list in 2020 and the first Forbes list of its kind to take into account climate change and the potential for natural hazards abroad. This, it has been pointed out, is a major reason why the Philippines, on every Forbes expat retirement list since 2011, is missing.
The Pacific island is No. 1 — that is, the worst — among 193 countries in the latest Global Risk Report compiled under the auspices of the United Nations.
Other parameters considered by the list's authors are cost life expectancy, the degree of ease of obtaining a residence permit in a country, taxation, the quality and cost of health care, crime, political instability and social isolation, especially in countries where English is not a widely spoken language.
< p>In alphabetical order, Forbes lists 24 countries as ideal for a retired US citizen to live. 12 are in Europe and include Cyprus and Greece.
Cyprus
Sunny island nation in the Mediterranean where English is widely spoken.
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Locations: Limassol, Paphos, Pyrgos, Larnaca.
Cost of Living: Much lower than US average.
Healthcare: Good and retirees can have access to the public healthcare system.
Obtaining right of residence: Relatively easy.
At the eastern end of the Mediterranean, Cyprus (the southern 60% of the island not under Turkish occupation, as Forbes clarifies) offers a sunny environment with great beaches, a Greek culture and a solid reputation for expat retirement.
There is a low cost of living, a low crime rate and political stability.
English is widely spoken. Health care is good and permanent residents can access the public health care system, although private health insurance is available.
The country is prone to floods and fires. A tax treaty between Cyprus and the US prevents double taxation.
Retirees usually start by applying for a Category F residence permit, which requires showing about $15,500 in annual pensionable income for a couple.
Purchasing real estate costing at least $330,000 can speed up the process.
Possible places to settle include the coastal cities of Limassol, Paphos, Pyrgos and Larnaca.
Greece
Sunny classic Mediterranean wonderland.
Locations: Athens, Trikala, Nafplio, Mykonos.
Cost of Living: Much cheaper than US average.
Health care: Good and affordable.
Obtaining right of residence: Easy.
Coming out to the Mediterranean Sea Peninsula, sunny Greece with its 6,000 islands presents an attractive environment.
The cost of living for most places is significantly lower than the US average. Healthcare is considered good and affordable, but private health insurance is required. Knowing a little Greek is helpful.
Taxes are high, but there is a long-standing tax treaty with the US against double taxation. Most ex-retirees start by applying for a renewable Self-Employed Person visa, requiring a minimum annual income of $26,000. Professional help is recommended for this.
The serious crime rate is low, but vulnerability to climate change and the risk of natural hazards is significant.
Flights to the US are long and require a layover or change somewhere. Popular areas include the capital Athens, Trikala in the north, Nafplio in the south and the island of Mykonos.
Ireland
Green European island paradise with English speakers and convenient flights to USA.
Locations: Dingle, Tralee, Waterford, Bray.
Cost of living: About US average.
Health care: Good, with private insurance.
< p>Getting residency: Doable, but expensive.
With its scenic beauty, the Republic of Ireland has a lot to offer US retirees. English is widely spoken, the political situation is stable and the serious crime rate is low.
There are direct flights back to the US from many airports.
The cost of living is about that of the US, although the countryside is much cheaper than Dublin.
Flooding can be a problem.
Healthcare is good and affordable with private insurance that expat retirees are required to get.
Taxes are high, but a tax treaty with the US avoids many issues double taxation.
Those who have an Irish citizen as a parent or grandparent can obtain citizenship (and thus the right to indefinite residence) with several documents, but otherwise obtaining the D or O long-stay visa for retirement generally requires a substantial annual income of $110,000 for a couple.
Inviting locations include the coastal villages of Dingle and Tralee in the southwest, the coastal city of Waterford in the southeast and the Dublin suburb of Bray.
Italy
Mediterranean culture, climate and food
Locations: Le Marche, Pescara, Palermo, Puglia.
Cost of Living: Lower than US average.
Health Care: Excellent, with access to public system.
Obtaining right of residence: Relatively easy, but expensive.
In addition to the culture and food, Italy offers a lower cost of living than the US, especially outside of major cities. In addition, there is this rare perk for expat retirees: fast access to the government health care system.
The political situation is stable and the serious crime rate is lower than in the United States.
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Natural hazards include earthquakes, floods and volcanoes.
Italian government policy encourages US retirees by issuing an Optional Residence Visa, which requires about $41,000 in annual retirement income.
Italy does not tax government employee pensions, and a tax treaty between the US and Italy helps avoid double taxation.
Speaking Italian is definitely helpful. There are many direct to the US.
Popular areas for US retirees include Le Marche and Pescara in the Abruzzo region along the Adriatic coast and Palermo in Sicily, as well as the region of Puglia. southeast.
Latvia
Baltic country with medieval towns and pastoral landscapes
Locations: Riga, Jūurmala, Sigulda, Daugavpils.
Cost of living: Lower than US average.
Healthcare: Adequate, but private insurance required.
Obtaining residency: Relatively easy.
One of three small former Soviet states in the Baltics, Latvia quickly joined NATO and it became a developed country, with beautiful countryside and a culture that reflects both Russian and local heritage.
The cost of living is significantly lower than the US average. Health care is adequate, but private insurance is needed.
The politics are stable, although crime can be a problem in places. While the winters are cold, the natural hazard is considered extremely low.
English is somewhat spoken.
Latvia offers a renewable five-year retirement visa upon demonstration of approximately $20,000 in annual retirement income for a couple. A tax treaty between the US and Latvia helps protect against double taxation, as does a foreign tax credit on US returns.
Return flights to the US require a change somewhere in Europe.< /p>
Accommodation options include the capital Riga, the seaside resort of Jūrmala and the inland towns of Sigulda and Daugavpils.
Austria
Switzerland on the cheap, but knowledge of German is required.
Locations: Vienna, Innsbruck, Salzburg, and Linz.
Cost of Living: About the same as the US average.
Health Care: Excellent.
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Obtaining right of residence: Possible but somewhat expensive and you need to speak German.
With mountain scenery from “The Melody of Happiness” and a rich culture, Austria offers a welcoming environment for retirees.
The cost of living is about the same as the US average. The serious crime rate is low and there is political stability.
Health care is excellent and it is possible to eventually enroll in the national health system.
The risk of natural hazards is considered low.
A long-standing tax treaty between Austria and the US prevents double taxation taxation.
Retirees apply for a “non-remunerated residence permit” document that requires showing about $40,000 a year in retirement income for a couple, as well as knowledge of the German language. There is a limit to these permits, so local professional help is recommended.
Possible retirement spots include the capital Vienna, Innsbruck, Salzburg and Leeds.
France< /b>
Essential European experience with fine food and wine.
Locations: Paris, Bordeaux, Lyon, Carcassonne.
Cost of living: Outside Paris, less than in the US.
Health care: Excellent and cheap.
Obtaining a right of residence: Difficult but possible.
In addition to food, France offers pensioners high-quality health care at low prices, paid for by private insurance or out of their own money.
The cost of living varies widely, but becomes much cheaper away from Paris, which can always be visited using the extensive rail network.
Knowledge of some French is essential.
Serious crime rates are generally lower than in the United States. The political situation is currently in flux, but the system is generally stable.
With such a long coastline and rivers, flooding can be a problem.
Taxes are high, but there is a tax treaty with the US against double taxation and France does not tax US pensions.
Obtaining a renewable long-stay visitor visa is difficult but possible.
An annual retirement income of at least $17,600 for a couple must be shown. Professional advice is recommended.
Climate change issues are not as acute as other places. Most return flights to the US are direct. In addition to Paris, popular retirement spots for American expats include Bordeaux in southwestern France, Lyon near the Alps, and Carcassonne, an ancient fortress city in southeastern France.
Malta
Mediterranean island country with wonderful beaches.
Locations: Valletta, St. Paul's Bay, Qawra, Gozo.
Cost of living: Lower than US average.
Health care: Excellent and affordable.
Getting residency: Relatively easy, but expensive.
Next to the southern tip of Italy in the Mediterranean, Malta is a country of five islands with great beaches, a temperate climate and low crime.
English is an official language.
The risk of natural hazard is considered low. The government is firm and encourages expat retirees with several visa options, including a five-year renewable retirement visa that requires an application fee of $2,700 and a minimum annual retirement income of about $26,000 per couple.
The cost of living is less than the US average and health care is excellent and affordable.
A tax treaty with the US prevents double taxation.
Portugal
Good climate, low cost of living and European culture.
Locations: Algarve region, Lisbon, Cascais, Porto.
Cost of living: Much lower than US average.
Health care: Good and affordable.
Obtaining right of residence: Relatively easy.
At the western edge of Europe, with a warm but pleasant climate, Portugal has a low cost of living for US retirees and good, affordable health care.
English is quite widely spoken. The crime rate is low and politics is stable.
Flooding can be a problem.
The country encourages retirees who can show an annual income of around $14,000 for a couple or an investment of $550,000 which may be in real estate.
The usual route is by seeking a renewable D7 resident visa.
A tax treaty between the US and Portugal avoids double taxation.
There is some direct air travel to the US.
Many retirees choose the Algarve region on the Atlantic near Lisbon.
Spain
Sunny, exciting European culture.
Locations: Costa del Sol, Bilbao, Orange Blossom Coast, Alicante
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Cost of living: Much lower than US average.
Health care: Excellent and cheap.
Getting residency: Relatively easy.
< p>Sunny Spain is much cheaper than the US, especially a few miles away from beautiful beaches and big cities.
Healthcare is considered excellent.
The crime rate is low and there political stability.
Natural hazards include forest fires and floods.
The renewable Non-Lucrative Residence Visa is relatively easy for a US retiree to obtain by showing an annual income of about $39,000 for a couple.
Spain does not tax the pensions of retired expatriate government employees and a tax treaty between the US and Spain eliminates many double taxation issues.
Knowledge of some Spanish is essential.
Albania< /p>
Mediterranean climate country with great beaches and scenery.
Locations: Tirana, Saranda, Durres, Avlona
Cost of living: Much lower than US average .
Healthcare: Adequate.
Obtaining right of residence: Relatively easy.
Albania offers a Mediterranean climate, amazing scenery, beaches and mountains.
The cost of living is half the US average.
The government is stable and serious crime is low.
Healthcare is just adequate, but improving.
Private health insurance is essential.
English is spoken, but not everywhere.
No tax treaty with the US that prohibits double taxation, but Albania does not tax foreigners' pension income.
A D Long Stay visa that leads to a retirement visa requires showing about $13,000 in annual income from retirement.
Flights to the US are long and require a stopover or change somewhere.
Flooding from storms can be a problem. Popular locations for retirees include Tirana and the seaside towns of Ag. Saranda, Durres and Avlona.
Source: ot.gr
