Last Updated on March 25, 2024 by Maryam Siddiqui
It doesn’t take a lot of motivation to start searching for top countries to retire abroad for British expats who don’t want to live in the UK anymore! This is when you get to enjoy the rest of your life without worrying about work-related responsibilities. So your options for moving abroad must be the best of the best!
With this opportunity, you welcome a new lifestyle you haven’t experienced before. And the numbers speak for themselves. According to the BBC News, about 5.5 million Brits live abroad, including pensioners and retirees enjoying their stay. British retirees are increasingly seeking alternative destinations. Especially ones that offer a comfortable and fulfilling lifestyle and a favorable environment for their golden years.
As the year 2024 unfolds, many countries beckon with promises of scenic landscapes, affordable living, and vibrant cultures. In this guide, we unveil the top 10 countries that stand out as the most enticing destinations for British retirees. Tag along as we explore the different options to retire abroad for the British.
Why do the British retire abroad?
For the British, deciding to retire abroad is often an individual choice prompted by unique motivations. However, while that is true, let’s take a look at some common reasons that contribute to many Britons retiring abroad.
The very first reason has to be the weather. Let’s face it: the UK is known for having unpredictable weather. Many retirees often choose to retire abroad, especially in countries with warmer climates and sunnier weather this reason. Escaping the gloomy weather often contributes to a better quality of life.
Another common reason for retiring abroad is the cost of living. It is common for retirees to relocate to countries with a lower cost of living, all in a bid to enjoy a more comfortable lifestyle.
Something else worth mentioning is that access to quality healthcare is a critical consideration for retirees. Some countries offer excellent healthcare services at a fraction of the cost compared to the UK, making healthcare a compelling factor in the decision to retire abroad.
Although not mentioned enough, the desire for a slower pace of life is also a common motivation for the British to move abroad. Many retirees seek tranquil environments where they can enjoy a more relaxed lifestyle. So, can they live in Portugal with their UK state pension?
- Read Also: How To Move From The UK To Portugal
The Best Countries To Retire Abroad For British
Portugal
For the last couple of years, Portugal has been a hot topic among tourists and retirees. This small country in southwestern Europe has topped this list for a few reasons. One of the main draws for retirees from all over the world to Portugal is the weather.
Portugal boasts a Mediterranean climate, which means mild, wet winters and hot, dry summers. The southern regions, such as the Algarve, are particularly famous for their pleasant weather. You might not know this, but some parts of the country experience up to 300 days of sunshine per year.
Other than the climate, the beauty of Portugal is undoubtedly one of the significant reasons why retirees choose to retire in this charming country. The landscapes, historic sites, and overall aesthetic appeal contribute to Portugal’s allure for expatriates.
Besides beauty and the climate, Brits love Portugal because of the Golden visa program. Although this program has experienced several changes over the years, it has been one of the top draws for retirees seeking residency.
- Read Also: What The British Need To Know About Portugal
Spain
Other than Portugal, Spain is another popular destination for British expats to retire abroad. Data from Epdata indicates that over 300,000 Brits live in Spain as of 2022. It is worth mentioning that Spain is also the top holiday destination for families in the UK. It doesn’t come as a surprise that it is also a top destination for the retirement phase of their lives.
So why is Spain so popular among the Brits? Spain’s Mediterranean climate is a major draw for Brits seeking sunnier and milder weather. The country enjoys hot, dry summers and mild winters, starkly contrasting the often gloomy and damp weather in the United Kingdom.
Spain is also renowned for its high quality of life. The emphasis on leisurely living, a strong sense of community, and a laid-back atmosphere appeal to retirees looking to enjoy a more relaxed pace of life during their retirement.
Lastly, Spain is beautiful and has an expansive coastline with several pristine beaches. Coastal regions like the Costa del Sol and Costa Blanca are particularly popular among Brits. Thanks to their picturesque settings and a wide range of beachside activities.
If you want to move to Spain, explore more info on Viv Europe’s website, and feel free to contact our immigration consultants.
Costa Rica
So far, a beautiful landscape and nice sandy beaches appear to be a staple for British retirees considering relocating abroad. Something unique that Costa Rica has to offer is incentives when it comes to taxation.
Unlike other nations, retirees do not pay income tax when it comes to foreign pensions. Coupled with the fact that the cost of living is lower than in the UK, Costa Rica remains a good option for retiring on a budget.
This country is also known for its forward-thinking environmental policy that has played a big role in maintaining its stunning rainforest and coastline. Although English is not the official language, it is widely spoken among the locals, making it easier for retirees to integrate into the community.
- Must the British continue to pay UK tax when in Portugal? Check out more about the Portugal Tax System: Easy breakdown for expats.
France
For the Brits who don’t mind a touch of elegance and sophistication, France remains a top choice for retirement. Living in the romantic city of Paris is a dream come true for many. Think about dining in one of the most beautiful restaurants in Paris or enjoying afternoon strolls through the Louvre.
One thing that Brits love is good scenery and landscape. France boasts diverse and picturesque landscapes, from Bordeaux’s vineyards to Provence’s lavender fields.
The variety of environments allows retirees to choose a setting that suits their preferences, whether it’s the tranquillity of the countryside or the vibrancy of coastal towns.
One unique thing about France is its geographical proximity to the United Kingdom. Short travel distances and well-established transport links, including the Eurostar and ferry services, facilitate regular visits to and from the UK.
The emphasis on a high quality of life in France, characterized by a slower pace, a focus on leisure, and a strong sense of community, appeals to retirees seeking a more relaxed retirement lifestyle.
Australia
How about retiring to an English-speaking country located on the other side of the world? Despite the distance between the UK and Australia, this country had to make the list of the top countries to retire abroad for British.
One thing that Australia promises all expats is a good quality of life that also includes a great work-life balance. The country’s emphasis on work-life balance, outdoor activities, and a generally laid-back lifestyle makes it an attractive destination for retirees looking to enjoy their golden years.
Speaking of outdoor activities, Australia is known for its stunning landscapes, including iconic landmarks like the Great Barrier Reef, Uluru, and the Sydney Opera House.
There are plenty of outdoor activities you can engage in, for instance, hiking, water sports, and wildlife exploration, perfect for an active and nature-oriented lifestyle. Also, Australia is known for its political stability, low crime rates, and overall safety. For retirees, a sense of security is an important consideration when choosing a destination for their retirement years.
New Zealand
New Zealand has gained popularity as a retirement destination for UK nationals for various reasons. The country’s unique combination of natural beauty, quality of life, and welcoming atmosphere makes it an attractive choice for those seeking a new chapter in their retirement.
The diverse and picturesque scenery gives retirees a breathtaking backdrop to their daily lives. Like Australia, New Zealand is an English-speaking country. This language compatibility simplifies communication for UK retirees, eliminating language barriers and making the transition to a new country smoother.
For those looking to retire away from the hustle and bustle of urban life, New Zealand provides a peaceful and less crowded alternative. Small towns and rural areas offer tranquillity and a slower pace of life. Do not worry about integrating into the local community, New Zealanders, or “Kiwis,” are known for their friendly and welcoming nature.
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Thailand
Another great destination that made this list is Thailand. Formerly a renowned backpacking destination, this country has done a lot over the years to earn its place on the world’s map of the greatest retirement destinations.
Thailand offers a blend of beautiful landscapes and luxurious living experiences for anyone who fancies sophistication. Essentially, living in Thailand combines vibrant culture, blissful greenery, and a low cost of living.
The advantage of living in a country with a relatively lower cost of living is your pension will stretch further than it would in the UK.
Therefore, you will be able to live a better life, not to mention afford other luxuries that you would otherwise not have. The friendly locals, delicious cuisine, and numerous cultural attractions make Thailand an exciting choice for adventurous retirees.
- You might want to look into private health insurance as an expat in Portugal. Learn more: Health Insurance in Portugal: Top options for you.
Panama
Like its neighbor Costa Rica, Panama is another good alternative for the Brits who want to retire in South America. The country’s appeal as a retirement haven is attributed to several factors catering to retirees’ preferences and needs.
First and foremost, the Pensionado Program. Panama offers a special visa program called the “Pensionado” program, which provides various benefits to retirees.
Qualifying individuals, including foreigners, can enjoy discounts on various expenses, such as healthcare, entertainment, and transportation. Panama also has enticing tax incentives for retirees that most countries often don’t have.
Foreign-earned income is not taxed in Panama, and there are no capital gains taxes on real estate transactions. This can result in significant savings for retirees, especially those with pensions or investment income.
When it comes to the weather, Panama’s tropical climate is appealing to many retirees seeking a warm and sunny environment. The country experiences distinct dry and wet seasons, providing various climates depending on the region. Coastal areas, such as those along the Pacific or Caribbean, offer beachside living with a tropical climate.
Canada
If you prefer a more temperate climate and distance from home isn’t a concern, Canada might be an excellent option for your retirement. The country boasts renowned natural attractions such as Niagara Falls, Moraine Lake, and Ellesmere Island, providing a distinct and captivating change of scenery compared to the UK.
Known for their exceptional friendliness, Canadians speak English and French nationwide. Upon obtaining permanent residency, you become eligible for government-sponsored healthcare, which becomes available after a three-month waiting period.
Whether it’s the cosmopolitan vibe of Toronto or the breathtaking landscapes of British Columbia, retirees can find diverse experiences in the Great White North.
Italy
Italy’s timeless charm, delicious cuisine, and diverse landscapes make it an attractive destination for retirees. From the rolling hills of Tuscany to the coastal beauty of the Amalfi Coast, Italy offers a slower pace of life and a warm welcome to expats.
Italy should be among your top retirement destinations this year if a great culture, fantastic cuisine, and excellent weather are anything to go by. When it comes down to the cost of living, Italy is cheaper than the UK. However, the larger cities like Milan, Rome, and Bologna are fairly expensive.
How can a British retire in Portugal or Spain?
Retiring in Portugal or Spain as a British citizen involves a few key steps, primarily related to residency and legal requirements. While both countries have different processes, they are relatively similar.
To retire in Portugal, you need to establish your residency. This can be done through various residency programs, such as the D7 Visa, which is suitable for retirees with sufficient passive income.
Spain offers several residency options, such as the Non-Lucrative Visa or the Golden Visa. The Non-Lucrative Visa is suitable for retirees without the need to work in Spain, while the Golden Visa involves making a qualifying investment in the country.
For both countries, you must submit your application to the embassy or consulate in your home country. The process can take several months, so starting well before your planned retirement date is advisable.
- Read Also: Complete Guide To Retire In Portugal In 2024.
Documents needed
The specific documents required for retiring in Portugal and Spain can vary based on the type of residency visa or permit you are applying for. However, here is a general list of documents that are required when applying for retirement in both countries:
- Proof of stable and regular passive income (pensions, investments, or rental income);
- Bank statements;
- Proof of health insurance;
- Criminal record certificates;
- Valid Passport.
Do you need help retiring in Portugal or Spain?
There you have it, our top 10 countries to retire abroad for British. If you have gotten this far, we hope that this post has helped you get closer to deciding where to retire.
That said, Portugal and Spain remain to be the most attractive destination for most expats from the UK. Retiring in Portugal or Spain shouldn’t be just an aspiration; proper planning and the right steps can indeed become a tangible reality.
To initiate the Retirement Visa process and receive assistance from relocation specialists, Schedule a Call with Viv Europe! Let us handle the intricacies of your Visa application. This includes accommodation, legal matters, and everything else, allowing you to unwind and trust the process.
And if you wish to learn from others’ experiences, join our Facebook Group – All About Portugal For Expats. Ask questions and read stories of British expats who have already made the move. See you soon!
