Some people have a strong opinion about where they would like to spend their retirement. Perhaps their decision has been driven by a family member’s move overseas and they now want to join them. Alternatively, we hear from a great many people who have chosen their retirement destination based on having spent a fantastic holiday in the country they’ve ultimately opted for.
However, we’re also well aware that for some people, making a final choice about where to move to live abroad in retirement is very difficult. They weigh up all the pros and cons, visit various nations, connect to expats via forums to get the inside knowledge on what certain countries are like, and still they cannot quite decide where to opt for!
If you fall into this group of people, or you’re only just beginning your research into where to retire abroad, we have decided to compile our current list of top 5 destinations for retirement abroad. Note, countries’ policies and economies, tax regimes and standards of living can change therefore we reserve the right to alter and update this list in the future! But for now, read on to discover Shelter Offshore’s current top picks and the reasons why we’re in favour of each nation as a potential place to retire.
1) France
The reasons for picking France far outweigh the main reason for not choosing the nation – which is of course the language, which we’ll come back to in a minute! For Britons, France has to be a top considered country for retirement abroad – because it is within touching distance of Britain and yet it is so much more appealing on almost every single level!
Think of the climate – in France they actually have long, hot summers EVERY year!
Think of the cuisine – in France every café and restaurant you visit serves quality food every day and you can eat out for a fraction of the price you can in the UK!
Think of the quality of life – the French have a much healthier attitude to life, and enjoying the finer things in life is second nature to a French person.
These are all benefits you can tap into if you move across the Channel in retirement. What’s more, the French property market has remained far more realistically priced and stable than our own, and you can still buy the dream in France – i.e., you can buy that rurally located barn with outline planning permission that you’ve always longed for, and turn it into your perfect pad in the sun.
Relocation is easy because France is in the EU, as a retiree you can have access to the healthcare system locally – although most people have top up insurance to cover the gap that exists when you access treatment. Travel between the UK and France is easy and affordable, meaning that you can keep in touch with the family and friends you leave behind – and the highest rate of tax in France is 40% compared to 50% in the UK.
However, you do have the issue of French being the mother tongue and that is a definite negative issue for some Britons looking to retire abroad. All we can say on this subject is that it’s easy to access lessons online, through the local library or nearest college to you, French is one of the easier languages to learn, once you immerse yourself in French culture you will pick up and improve upon what you already know, and if you really want to go and live in one of the best countries on this planet, learning a new language to do so is hardly that great a hardship is it?
2) Turkey
If you would like a more affordable cost of living, or perhaps an even more attractive climate then Turkey’s emergence as an attractive place to holiday, live, buy property and retire will be music to your ears. The nation has gone out of its way to achieve strategic alignment with Europe on many fundamental levels, and as a result it is far easier to integrate into life in Turkey nowadays.
The most popular retirement destinations tend to be along the southern and south western coastlines where the weather is at its best for at least 10 months of the year, and where international tourism has meant that Brits are very welcome, English is widely spoken and general standards of infrastructure are high.
Property prices in Turkey remain realistic and within reach, the fact that the nation is not in the eurozone means that affordability remains a positive factor in Turkey’s favour, relocation is relatively easy and getting easier all the time, and you’re only a short hop from the UK still with average flight times in the region of 4 hours.
Turkey is a nation’s whose popularity star is rising – therefore whilst you may find elements of the country rough around the edges, (such as the immigration and importation rules and regulations), you can also watch as month by month ‘things’ improve for would-be expats who want to make this culturally rich country their new home abroad.
3) Belize
Belize is a popular choice with retiring Americans – but despite the fact it’s a former British colony and English is widely spoken, Belize is still not as popular a choice with expat Brits. The number one thing that puts people off about the country is its relative inaccessibility. Flight times are long, routes are indirect and costs are high – but hey, if you’re moving permanently you only have to manage the flight once right?
Belize has so much in its favour that we’re convinced greater promotion of the nation will eventually result in more Britons exploring it as a possibility for a new home-from-home abroad. For a start there is the Belize retired persons’ incentive programme which allows qualifying individuals to move to the country and live there 100% tax-free! What’s not to love about that?
The climate is favourable – although during the tropical storm season when hurricanes occasionally hit, the weather is less in Belize’s favour! The rest of the time you’re in for heady days with humidity, and a climate that never gets cold. The landscape is vibrant and verdant, the fauna is as abundant as the flora, the people are as colourful as the environment and the cost of living can be exceptionally cheap.
You can buy well priced real estate in Belize – and you can enjoy tropical beaches and a very laid back lifestyle. You can access relative sophistication quite easily by heading North to America or just by heading in to Belize City. Perhaps you have to have a bit of an adventurous spirit to make Belize home as it is not quite the same as the UK! But if you’re willing to pioneer and explore pastures very new, Belize has an awful lot in its favour for retirees!
4) New Zealand
The number one issue with New Zealand – and probably the number one reason why it isn’t higher up our list – is immigration. But the good news is, it just got easier! A new investment class visa has been released which has no upper age limit, making it perfect for retirees. However, you have to be prepared and able to invest 10 million NZ dollars for 3 years – which does make this a visa class for the super wealthy.
If you fall into that category, or you fancy ‘retiring’ early and moving your business to New Zealand or you have family already living there who will sponsor you, then you have a chance at residency.
If you can gain a visa you will also gain a fantastic quality of life in stunning surroundings where everything feels sufficiently the same so that integration is smooth – but where actually, everything is different enough to make the move so worthwhile!
Healthcare standards are high, infrastructure is good and improving, economically and politically the country is strong and in a good position globally – and of course, English is the first language and Britons are 100% welcome!
5) Cyprus (North or South)
Our final choice is Cyprus – and we’re talking about the South and the North of the island. In the south you have the benefits of a low tax rate on pension income (as low as 5%), excellent healthcare, a high standard of living, good infrastructure, English is widely spoken and very widely understood, you have strong and established expat communities and even British shops such as Debenhams!
In the north you have cheap property, a cheap cost of living, an untouched feel to the island and arguably the more attractive natural landscape. There is a small British retiree community well established in Northern Cyprus already, you will be able to get by if you don’t speak Turkish, and if you can afford to pay for it, the private healthcare available is excellent.
Downsides are – in the south the cost of living is very high and in the north you’re living in a part of the world where there are embargos in place which can make elements of life frustrating at times. Of course, both sides of the island benefit from a fabulous climate, stunning natural landscape, a laid back way of life and friendly and welcoming people. Cyprus is only a four and a half hour flight time to the UK too, and there are cheap flights available.
In Conclusion
Hopefully the above list of our current top five favourite places to retire abroad will give you some ideas and some new places to explore and research. Of course, any list is purely subjective on some levels, and relative to the person compiling it! So, if you don’t find your current favourite nation listed, don’t let that put you off your relocation abroad!
