9 of the Best Places for Expats to Retire in Europe

According to the Social Security Administration, in 2024, nearly 68 million Americans received a Social Security benefit each and every month, totaling roughly $1.5 trillion in benefits paid during the year. While that might seem like a ton of money, when it’s broken down by individual, it can seem like the cash doesn’t go very far here in the States—especially considering the average American 65 and older spends $4,818 per month. That’s why, nowadays, many Americans set their sights abroad when it comes time to retire. While Central and South America, and even parts of Asia, have long been considered for life after 65, retiring in Europe has often seemed out of the question. But it doesn’t have to be.

According to the recently released 2024 Overseas Retirement Index by Live and Invest Overseas, European destinations like France, Spain, Portugal, and Greece are some of the very best places to retire in the world. Meanwhile, the 2023 Mercer CFA Institute Global Pension Index reports that the Netherlands has the world’s best retirement system, and AARP suggests that Ireland and Italy are top destinations for retirees. The point is, Europe may be known for its lavish lifestyle but the continent translates undeniably well to the enjoyment and needs of life after 65.

With that in mind, we encourage you to explore the nine best places to retire in Europe. If you find yourself seriously considering a move abroad, do yourself a favor and hire an immigration lawyer. They will be able to answer any and all specific questions related to retiring as an expatriate. Read on for the best European cities to consider for retirement.

The Hague, The Netherlands

While the cost of living is slightly higher in the Netherlands than in the U.S., it’s considered to be one of the best destinations for retirees. The Hague, the third largest city in the Netherlands—and one that’s well known for its expat population—boasts a population of half a million.

Nestled along the coast, The Hague offers easy access to the beach and downtown, providing entertainment for all retirement preferences. Whether you enjoy strolling gardens and parks, taking in the local art scene, or sitting down for a delicious meal, The Hague has it all—including Europol, the International Court of Justice, and the International Criminal Court (for all the law buffs out there).

• Residency Eligibility: To retire in the Netherlands, you must live or work in the country for five years before applying for a permanent residency permit.

• Healthcare: The Netherlands boasts universal healthcare, however, by law, expat retirees must also purchase private insurance, which can run from $100 to $120 per month.

• Taxes: Retirement income is subject to taxation in the Netherlands. According to HSBC, income tax rates range from 9.28% to 49%, depending on your taxable income band.

• Real Estate Restrictions: Expats can purchase property in the Netherlands without restrictions. Just keep in mind that many banks don’t offer mortgages for folks over 70, which can hamper the buying process.

Valencia, Spain

Looking to fill your days with joyful music, delectable cuisine, and endless culture? Consider retiring in Spain. Specifically, Valencia is renowned for its coastal allure, stunning architecture, and delectable cuisine. The selling factors? The cost of living is shockingly modest despite the proximity to stunning Mediterranean beaches, and the country’s healthcare is top-tier.

• Residency Eligibility: To obtain a retirement residency visa in Spain, expats have to demonstrate that they can fully support themselves; proof of health insurance and an annual income of €28,800 or higher is required.

• Healthcare: Expats are required to hold private insurance upon retiring to Spain. After living in the country for a year, expats can apply to The Sistema Nacional de Salud, Spain’s public healthcare system, and pay into the Convenio Especial insurance scheme.

• Taxes: Retirement income is subject to taxation in Spain. According to HSBC, Spain’s income tax rates range from 9.5% to 23.5%, depending on your taxable income band.

• Real Estate Restrictions: Expats can purchase property in Spain, they’ll just need to apply for a Foreigner Identification Number to do so.

Braga, Portugal

Portugal has a reputation for being a fantastic retirement destination. Over the past few years, however, expat experts have wavered on that suggestion, citing that the bureaucracy of it all is a bit slow. Nevertheless, if you’re willing to be patient, many retirement indexes continue to claim that Portugal is a lovely place to retire thanks to its healthcare system and lack of real estate restrictions.

Instead of heading to Lisbon or Algarve—two of the country’s most popular (and most expensive) cities—consider beelining to Braga, often referred to as the “Portuguese Rome.” The northern city is a haven for religion, gorgeous architecture, beautiful recreational areas, and more.

• Residency Eligibility: To obtain a retirement residency visa in Portugal, expats have to spend at least 183 days per year in Portugal, hold valid private insurance, and earn a passive income of at least €820 per month, among other requirements.

• Healthcare: Legal permanent expat residents are eligible for Portugal’s National Health Service.

• Taxes: Retirement income is subject to taxation in Portugal. According to Bright!Tax, D7 Visa holders can expect to pay 10% on foreign-sourced income, including pensions.

• Real Estate Restrictions: Expats can purchase property in Portugal.

Crete, Greece

If you’re hoping to feel like you’re on vacation every day of your retirement, Crete, Greece—the largest of the Greek islands—is waiting to be discovered. Brimming with Mediterranean cuisine, seaside recreational activities, awe-inspiring archaeological finds, and seemingly never-ending sunshine, Crete is a dream destination for retirees in search of a temperate Mediterranean climate with characteristics of a Blue Zone (a place where people tend to live longer, healthier lives).

• Residency Eligibility: To obtain a retirement residency visa in Greece, expats have to hold a valid private health insurance plan and earn a monthly passive income of at least €2,000.

• Healthcare: Private insurance is required to obtain a Visa. Once a legal resident, however, expats are eligible to join the public health care system.

• Taxes: Retirement income is taxable in Greece, However, in an effort to draw more retirees to the country, Greece offers a flat 7% on all foreign-source income, including pensions.

• Real Estate Restrictions: Expats can purchase property in Greece. If you purchase more than €250,000 worth of real estate, you can become eligible for the Greece Golden Visa, which enables permanent residency.

Bordeaux, France

France might seem like one of the most luxurious European vacation destinations, but your money can go quite far in the country—especially since retirees are eligible for the national health insurance system.

Rather than retiring in Paris—a rather obvious choice—consider the port city of Bordeaux. Renowned for its architecture and art scene, Bordeaux is a beautiful retirement destination for expats who crave culture. Other highlights of the area? A stellar public transit system, a mouth-watering gastronomy scene, and an impressive wine selection that will never get old. (Fun Fact: Bordeaux is one of the world’s largest wine producers, with over 7,000 wineries nearby!)

• Residency Eligibility: To retire in France, expats have to apply for a Long Stay Visa (like the VS-TLS resident permit equivalence), which requires proof of income equal to France’s minimum wage (around €1,770 per month) and proof of valid health insurance.

• Healthcare: After becoming an established resident for three months, expats are eligible to sign up for France’s national health insurance system, L’Assurance Maladie.

• Taxes: Retirement income is subject to taxation in France. According to HSBC, France’s income tax rates range from 0% to 45%, depending on your taxable income band.

• Real Estate Restrictions: Expats can purchase property in France without restrictions.

Kenmare, Ireland

Ireland is the place to go if idyllic rolling green hills are part of your retirement fantasy. The country has a city for every recreational preference but if small-town living is more your vibe, make sure to explore Kenmare. Dotting with vibrant green pastures and a coastline that overlooks the Atlantic, Kenmare is a sight to behold.

It’s also a fantastic place to retire if hiking, golfing, and birding are high priorities on your list. Plus, since it’s located on The Ring of Kerry, Kenmare offers convenient access to one of the country’s most beloved natural sightseeing routes.

• Residency Eligibility: To retire in Ireland, you have to provide financial records indicating that you make at least €50,000 per year and have an emergency savings fund. Like many European countries, Ireland merely wants to ensure retirees can support themselves there.

• Healthcare: Retirees are eligible to opt into Ireland’s public health system, or they can purchase their own private insurance.

• Taxes: Retirement income is subject to taxation in Ireland. The standard tax rate in Ireland is 20%, but it’s subjective. Learn more, here.

• Real Estate Restrictions: Expats can purchase property in Ireland without restrictions.

Sofia, Bulgaria

According to a recent survey from Moneypenny, Sofia, Bulgaria is the premier retirement destination in Europe. Thanks to its low cost of living, high access to healthcare, and many recreational activities, Sofia promises residents a life filled with entertainment, surrounded by beautiful architecture and natural landscapes.

• Residency Eligibility: To retire in Bulgaria, expats must prove that their retirement income is greater than the country’s minimum wage, and they must hold a valid Bulgarian Retirement D visa, followed by a temporary residence permit.

• Healthcare: With a Retirement D visa, expats can gain access to Bulgaria’s public healthcare system.

• Taxes: Retirement income is subject to taxation in Bulgaria. The country’s personal income tax rate is a flat 10%.

• Real Estate Restrictions: Expats can purchase property in Bulgaria, but they often can’t buy land.

Prague, Czech Republic

Home to over 200,000 expatriates, Prague is one of the most popular retirement destinations in Europe. The city draws retirees with its seemingly untouched history, expansive food scene, gorgeous architecture, breathtaking skyline, world-class museums, and more. Plus, the Czech Republic has been dubbed one of the safest countries in the world.

• Residency Eligibility: The Czech Republic doesn’t have a detailed immigration process for expat retirees. Hopeful expats simply must apply for a long-term stay visa.

• Healthcare: Permanent retirees and established residents are eligible to opt into the public healthcare system.

• Taxes: Retirement income is subject to taxation in the Czech Republic. The country’s personal income tax rate is a flat 15%, unless it exceeds 36 times the average monthly salary.

• Real Estate Restrictions: Expats can purchase property in the Czech Republic.

Tuscany, Italy

We can’t be the only ones hoping to live out their Under the Tuscan Sun fantasy. And, as it turns out, we’re not. According to AARP, Italy is one of the best places to retire in Europe.

As much as we adore exploring the Amalfi Coast and tuning our historical knowledge in Rome, there’s something so charming about the beautiful countryside of Tuscany. It’s also a downright delicious place to visit, let alone retire. The region is world-renowned for both its wine and cuisine, making it the ultimate European destination for foodies and winos alike.

• Residency Eligibility: To retire in Italy, expats must apply for an Elective Residence Visa, which requires proof of residence in the country, proof of a minimum annual income of €31,000, and proof of privately held health insurance.

• Healthcare: Expat retirees aren’t eligible for Italy’s public healthcare. Private health insurance is required.

• Taxes: Retirement income is subject to taxation in Italy, however, the rate is quite low, at just 7% flat on foreign pensions.

• Real Estate Restrictions: Expats can purchase property in Italy without restrictions.

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