6 Countries That Welcome American Retirees

If you’re planning to retire outside the United States, these are the 6 countries that welcome American retirees.

With the costs of retirement becoming higher and higher at home, tons of Americans are thinking about moving to developing countries to stretch their dollar to the fullest. But not every beautiful, tropical paradise is made for retired US citizens. Aside from the possibility of higher costs for staying as a foreign national, some countries do not provide long-term or permanent stay visas.

Fortunately, we have found the perfect countries that welcome American retirees with open doors and open arms. The countries we’ve listed on this article have created retiree-friendly policies – from special visas to budget-friendly costs of living to the friendliest of locals.

We’ve taken suggestions from International Living, Huffington Post, and Forbes for the items on this list and they are not ranked in any particular order.

Read on to find out which country you should plan your retirement to – and don’t forget to check out our other article on the 11 Easiest Countries for Americans to Move to and Work.

6. Panama

If you have a pension of over $1000 a month, are  willing to visit the country at least once every two years (that is, if you don’t want to live here full time), and are looking forward to special discounts on utilities, airfare, entertainment and what have you’s, Panama’s Pensionado visa may just be the perfect thing for you. It also helps that Panama is closer to home than most others on this list so the adjustment would be likely easier than a move elsewhere.

5. Ecuador

Ecuador is fast becoming the favorite of expats and expat retirees from around the world; it would not have been voted the best country to retire in the 2015 International Living Annual Global Retirement Index otherways. Like Panama, Ecuador has an irresistible Pensionado visa. Compared to Panama, however, the monthly pension requirement for Ecuador’s Pensionado is only $800 a month so if you earn a little less, can speak Spanish well enough, and are okay with enviable tropical weather day plus the ow cost of living, Ecuador is for you.

4. Colombia

The Colombia of today is a far cry from its chaotic past. Today, as one of those countries that welcome American retirees openly, Colombia offers potential expats reliable internet, great infrastructure, and one of the most beautiful places to stretch your monthly pension. The requirement for their Pensionado visa is mostly a pension amount that is thrice more than their monthly minimum wage. In US$, it should be roughly under $1200. Though there are no special benefits or discounts for American retirees, Colombia makes up for it with its world-class healthcare – declared by the World Health Organization (WHO) as being better than that in the US or Canada – and definitely cheaper too! And of course, the beautiful country and perfect weather are reasons enough to spend your sunny retirement days here.

3. Portugal

Portugal is the only European country on our list of 6 countries welcoming American retirees. With its first-world infrastructure, mild weather, beautiful architecture, and abundance of fresh seafood, Portugal is just hard to resist. While Portugal does not exactly have a special visa for pensioners, the residency permit for expats applies to retirees just as easily. In fact, foreign retirees can now accept their pension from their home country in Portugal devoid of any income tax. Check out Algarve for its large expat community!

2. Malaysia

Malaysia is one of the fastest-growing retirement destinations today. If you can deal with the tropical heat and the torrential rains that are common in Southeast Asia, Malaysia may be the paradise for you. Malaysia’s special ‘Malaysia My Second Home’ or MM2H visa, foreigners are given a special residency visa that needs to be renewed only after ten months. One of the foremost requirements to avail fo the MM2H visa is for the applicant to earn the same amount as the minimum monthly income in Malaysia (currently 10,000 Malaysian Ringgits). And one of the best benefits of the MM2H? Holders of this visa can try to apply for a bank loan to buy a house. With the tropical weather, the beaches, first-world infrastructure, and endless golfing opportunities, what’s not to love about Malaysia?

1. Thailand

Thailand is not just popular as a vacation destination. As one of the countries that welcome American retirees, it is fast becoming a favored retirement hub for many Americans as well. The Thai Retirement Visa is available for foreigners over 50 years old, have a monthly income/pension of about $2,100, a Thai bank account, and have been granted Non-Immigrant Visa prior to applying for the retirement visa. Thailand can get really hot, rains can be battering, but the beaches and the ocean are as warm as its people. The food is hard to beat, the scenery is straight out of a painting, and living here is mighty cheap, and it is one of the 6 countries that welcome American retirees.

Retirement is a special, special time in anyone’s life and you’ve probably spent your entire life preparing for this moment. Pick your paradise wisely!