Selling property in the Philippines: Taxes for Americans
What taxes do you need to pay when selling property in Philippines? Have a look at our guide to learn all about types, deadlines, and special considerations.
10 best countries for Americans to retire abroad: 2025 guide
Retiring abroad appeals to many Americans who want to stretch their retirement dollars while enjoying new experiences and living a healthier lifestyle.
You can receive your Social Security benefits outside the US, and lower costs of living in many countries mean that you can afford more small (and not so small) luxuries than you would back home.
So, what are the best places for Americans to retire in the world? You'll learn everything you need to know in this guide, along with what to expect from the healthcare system, the permanent residency visa process, the cost of living, and more.
Can a US citizen retire in another country?
Yes, US citizens can retire in another country. Many retirees do it successfully and enjoy the low cost of living, excellent healthcare, rich history, and natural beauty in other countries in their golden years.
That said, you need to plan your international retirement carefully. You can't just pack your bags and move. While many countries around the world welcome American retirees, each country has different rules that you need to follow if you want to stay there long-term.
Most retirement visas require proof of monthly income, health insurance, and a clean background check.
Before moving, you also need to research healthcare options, banking services, tax requirements, and other important factors that'll play a big role in your everyday life.
Benefits of retiring abroad
International living has so many benefits for retirees, from experiencing a new culture to enjoying a more relaxed lifestyle. Plus, when your retirement savings don't stretch far enough in the US, moving abroad can help you find more affordable housing and quality healthcare.
Here are some of the main benefits of retiring abroad for Americans:
-
Lower cost of living: You may find that you're able to afford housekeeping help, dine out regularly, and travel more - luxuries that might be out of reach at home
-
Better healthcare access: Many countries offer quality medical care at a fraction of US prices. You'll probably need private health insurance, but it'll likely cost you way less
-
Warm climate year-round: Popular retirement destinations like Costa Rica or Thailand offer sunny weather without cold winters
-
Adventure and new experiences: Learning a new language and culture keeps your mind active and engaged
-
Healthy and laid-back lifestyle: Many countries emphasize social connections, leisure, and staying active throughout the day over the work-focused American lifestyle
Moving abroad isn't right for everyone, but many US retirees find welcoming communities and better lifestyles in other countries around the world. Especially if you move to one of the best countries for Americans to retire, which you'll find below!
Retiring property abroad? Send money the hassle-free way with Wise
Now that we covered some of the basics, the only question left is: how to send money to pay for your property overseas?
Wise offers you a quick, secure and transparent way of sending money abroad. You get the mid-market exchange rate for your payments and see how much it’s charged for the transfer before sending the money from your bank.
With the Wise Account you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 8+ different currencies.
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
Top 10 best countries for Americans to retire abroad
Here are some of the best places for US citizens to retire abroad. These countries aren't ranked in any particular order because everyone has different priorities, but they all typically rank highly for factors like affordable living, healthcare systems, and rich culture.
1. Thailand
Top destinations: Phuket, Bangkok, Chiang Mai
Visa options: Retirement visa available for Americans 50 and older with proof of pension or at least 65,000 THB per month in regular income (~1,900 USD).¹
Cost of living: 1,200 USD (for 2 people without rent)²
Benefits: Affordable healthcare, low cost of living, warm climate
Thailand offers a tropical climate year-round with beautiful beaches and mountain landscapes. It's ranked highly by the Annual Global Retirement Index, and many American retirees choose Thailand for its significantly lower cost of living compared to the US.
Excellent healthcare is another major draw, and popular spots like Phuket or Chiang Mai have established expat communities where you can quickly make new connections.
| 💡 Learn more about retiring in Thailand here. |
|---|
2. Panama
Top Destinations: Boca Chica, Boquete, Panama City
Visa Options: Pensionado Program
Cost of Living: 1,600 USD (for 2 people without rent)⁴
Benefits: Uses USD as a main currency, quality healthcare, beautiful nature
Panama is one of the most retiree-friendly countries in the world. The Pensionado Visa specifically targets Americans, and you won't have to struggle with currency conversions because USD is one of the official currencies.
The country has high-quality medical care, and Panama's location makes it easy to visit your friends and family in the US.
The Pensionado Program requires a minimum monthly income of 1,000 USD from government programs like Social Security or private pensions, plus an additional 250 USD monthly per dependent (such as your spouse).³
3. Greece
Top Destinations: Corfu, Rhodes, Athens
Visa Options: Financially Independent Person (FIP) Visa (at least 3,500 EUR/month income + 20% for spouse)⁵ or Greece Golden Visa
Cost of Living: 1,600 USD (for 2 people without rent)⁷
Main benefits: Mediterranean lifestyle, excellent healthcare, gateway to Europe
Greece is one of the most affordable countries in Europe, full of rich history and healthy cuisine, so it's no wonder that many foreign retirees settle here.
Most Greek islands and coastal areas enjoy mild winters and sun-filled summers, which is perfect if you like to spend time outside. Athens has all the big-city amenities you may need, and islands like Corfu are peaceful places with strong expat communities.
If you're thinking about buying property abroad, the Greece Golden Visa can qualify you for residency with a minimum real estate investment of 250,000 USD.⁶
4. Costa Rica
Top Destinations: Tamarindo, Escazú, Montezuma
Visa Options: Pensionado, Rentista, and Invesionista Visas, starting as low as a guaranteed monthly income of 1,000 USD.⁸
Cost of Living: 2,000 USD (for 2 people without rent)⁹
Benefits: Stable democracy, excellent healthcare, natural beauty
Costa Rica is one of the wealthiest countries in Central America, and its public healthcare system serves both locals and expats.
You'll find a stress-free lifestyle and stunning beaches and rainforests, but you can also expect slightly higher living costs than in many other South American countries.
5. Malaysia
Top Destinations: Penang Island, Kuala Lumpur, Kota Kinabalu
Visa Options: Malaysia My Second Home (MMSH) Program - A long-term visa program with different financial requirement tiers¹⁰
Cost of Living: 1,000 USD (for 2 people without rent)¹¹
Benefits: Modern infrastructure, English is widely spoken, affordable luxury
Malaysia has modern infrastructure with an excellent transportation system and healthcare, with many medical facilities catering specifically to international patients. You'll enjoy a relatively low cost of living and amazing food options here.
That said, the Malaysia My Second Home (MMSH) Program isn't the most straightforward retirement visa on this list. You'll typically need to place at least 150,000 USD in a Malaysian fixed deposit account and purchase property in the country, but there are different options available.¹⁰
6. Portugal
Top Destinations: Lisbon, Cascais, Madeiro
Visa Options: Portugal D7 Visa (Passive Income Visa) and Portugal Golden Visa¹² ¹³
Cost of Living: 1,500 USD (for 2 people without rent)¹⁴
Benefits: European lifestyle, safety, welcoming local community
Portugal is one of the best countries for Americans to retire to because it's more affordable than neighboring countries and has a relatively straightforward visa process.
The country has low violent crime rates, beautiful beaches, and historic cities. Plus, its healthcare system is one of the best in Europe and is easily accessible to foreign residents.
For visa options, the Portugal D7 Visa requires:
- proof of regular income (at least 870 EUR monthly per person)
- a place to live in Portugal
- compliance with minimum stay requirements¹²
Alternatively, the Portugal Golden Visa requires a minimum investment of 250,000 EUR, and there is no real estate option.¹³
7. Colombia
Top Destinations: Medellin, Cartagena, Santa Marta
Visa Options: Pensionado Visa
Cost of Living: 1,100 USD (for 2 people without rent)¹⁷
Main benefits: Spring-like climate, low cost of living, new best place to retire
Colombia used to be associated with crime and drug cartels, but it has since transformed into a safe, welcoming retirement destination for Americans who are looking for warm weather and affordable living. The country has world-class healthcare and English-speaking doctors in major cities.
It's also a short trip back to the US, with direct flights to many cities from both Medellin and Bogotá.
The Pensionado Visa requires a monthly retirement income of 3 times the minimum salary in Colombia.¹⁵ In 2025, the minimum monthly wage is 323 USD, so you'd need approximately 969 USD.¹⁶
8. France
Top Destinations: Paris, Provence, Brittany
Visa Options: Retirees can apply for the VLS-TS Long-Stay Visa by proving financial stability, then later apply for permanent residency
Cost of Living: 2,000 USD (for 2 people without rent)¹⁸
Main benefits: Famous cuisine, art and culture, good healthcare system
If you want to enjoy a more sophisticated European lifestyle during your retirement, then France is a good option for you. Paris is a popular destination with American retirees who are interested in art and culture, but you can also settle in a smaller city or a rural region.
There is a drawback, though - France doesn't have a dedicated retirement visa, which means that figuring out how to live there long-term can be more complicated than with other retirement destinations on this list. The cost of living in France is also relatively high.
| 💡 Learn more about retiring in France here. |
|---|
9. Ecuador
Top Destinations: Cuenca, Quito, Salinas
Visa Options: Jubilado Visa
Cost of Living: 1,000 USD (for 2 people without rent)²¹
Main benefits: USD economy, diverse climates, low-cost healthcare
Like Colombia, Ecuador is another new retirement destination that has been getting more popular with Americans.
The USD is the official currency, which means that you don't have to worry about exchange rates. There are also many living options, from small beach towns to highland cities like Cuenca, where spring-like weather lasts year-round.
The Jubilado Visa requires monthly retirement income of at least 1,410 USD (which is 3 times Ecuador's 2025 minimum monthly wage of 470 USD) and a clean criminal record.¹⁹ ²⁰
10. Italy
Top Destinations: Tuscany, Rome, Sicily
Visa Options: Italian Elective Residency Visa
Cost of Living: 2,000 USD (for 2 people without rent)²³
Main benefits: Italian cuisine, art and culture
Italy is one of the most popular European destinations, and retiring here means that you'll get to enjoy its legendary cuisine and relaxed pace of life every day.
The cost of living in Italy is reasonably priced (although it's not as low as in Asia and South America), and the healthcare system is reliable.
One important negative is that securing a long-term visa in Italy is more complicated than in many other destinations (especially outside of Europe). The Italian Elective Residency Visa requires proof of financial stability (starting at 38,000 EUR for a married couple), housing arrangements, proof of health insurance, and other important requirements.²²
| 💡 Learn more about retiring in Italy here. |
|---|
Things to consider before retiring (or moving) abroad
Moving to another country is an adjustment, so take time to research and consider these important factors:
-
Tax obligations: Even when living abroad, US citizens must file annual tax returns. You can sometimes avoid double taxation with tax treaties, but this varies from country to country
-
Healthcare coverage: You'll typically need to use private healthcare abroad, but some retirement destinations have accessible public healthcare systems. For example, Costa Rica has the universal CAJA system
-
Distance from family: If you retire in Thailand or Malaysia, it'll be harder to see your family and friends because they're much further away from the US than Costa Rica or Panama
-
Language barrier: Many countries on this list have English-speaking communities or even use English as one of their official languages, but you may also consider learning the local language
-
Banking and finances: Research how you'll access your money and what banking fees apply for international transactions. These can often eat into your budget
-
Visa requirements: Generally speaking, European countries like Italy and France are harder to get long-term residency in than destinations like Costa Rica or Thailand
It's also important to remember that as a retiree, you're a guest in another country. Take the time to learn local customs and be patient with cultural differences - once you embrace them, they can become some of the best parts of living abroad.
Retiring abroad as an American FAQs
What is the easiest country for an American to retire in?
Countries like Thailand, Costa Rica, Panama, and even some European destinations like Portugal are generally easy for Americans to retire to. Many countries around the world welcome US retirees because they bring stable income without taking local jobs.
European countries generally have tougher requirements, but Portugal stands out with its D7 Visa. Asian and Latin American countries typically have simpler paperwork and lower income thresholds.
What is the cheapest and safest country to retire in?
Southeast Asian countries like Thailand and Malaysia often have the lowest cost of living, followed closely by Latin American countries like Ecuador and Colombia. Panama and Costa Rica are also affordable and generally safe, but they might require higher budgets for you to actually enjoy living there.
European countries like France and Italy have better safety and infrastructure but at higher prices.
Do I pay US taxes if I retire abroad?
Yes, US citizens must file tax returns and report worldwide income to the IRS, no matter where they live. However, you may be able to reduce what you owe by working with a tax professional.
Retiring abroad can give you a better lifestyle for less money, but it's important to choose your destination carefully.
European countries typically have familiar infrastructure but come with higher costs and more complicated residency processes. Portugal and Greece are some of the more attainable options in the EU.
Latin American and Asian countries like Thailand, Panama, and Costa Rica are well-established retirement destinations with lower costs and easier visa requirements.
Regardless of where you decide to retire, Wise can help you save on international transfer fees and exchange rate markups.
Sources
- US Embassy and Consulate in Thailand - Thai Visas for Americans
- Numbeo - Cost of Living in Thailand
- Embassy of Panama - Retire in Panama
- Numbeo - Cost of Living in Panama
- Global Citizen Solutions - FIP Visa Greece
- Henley & Partners - Greece Golden Visa
- Numbeo - Cost of Living in Greece
- Residencies IO - Costa Rica
- Numbeo - Cost of Living in Costa Rica
- Global Residence Index - Malaysia My Second Home (MMSH) Program Guide
- Numbeo - Cost of Living in Malaysia
- Global Citizen Solutions - Portugal Retirement Visa
- Henley & Partners - Portugal Golden Visa
- Numbeo - Cost of Living in Portugal
- Ministerio de Relaciones Exteriores de Colombia - Special Temporary Pensioner’s Visa
- Reuters - Colombia minimum wage to increase 9.54% to $323 per month in 2025
- Numbeo - Cost of Living in Colombia
- Numbeo - Cost of Living in France
- Bright!Tax - Retire in Ecuador
- Paul Hastings - Ecuador
- Numbeo - Cost of Living in Ecuador
- The Italian Lawyer - Italian Elective Residence Visa
- Numbeo - Cost of Living in Italy
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Money without borders
Find out more
Selling property in France: Taxes for Americans
What taxes do you need to pay when selling property in France? Have a look at our guide to learn all about types, deadlines, and special considerations.
Selling property in Greece: Taxes for Americans
What taxes do you need to pay when selling property in Greece? Have a look at our guide to learn all about types, deadlines, and special considerations.
Selling property in Portugal: Taxes for Americans
What taxes do you need to pay when selling property in Portugal? Have a look at our guide to learn all about types, deadlines, and special considerations.
Selling property in Italy: Taxes for Americans
What taxes do you need to pay when selling property in Italy? Have a look at our guide to learn all about types, deadlines, and special considerations.
What are some of the easiest countries to immigrate to?
Looking to move abroad? Check this guide on the easiest countries to migrate to.
