Is this the best countries for a dream retirement?
- Paul Aage Hegvik
- Jan 17
- 4 min read
Updated: Feb 27
Retirement is a time to unwind, explore new places, and embrace a slower pace of life.
For many, the idea of retiring abroad offers the perfect opportunity to enjoy stunning landscapes, affordable living, and diverse cultures. Among the top destinations, Mauritius stands out as a haven for retirees seeking a blend of natural beauty, safety, and a welcoming community. But it’s not the only place where dream retirements come true. From the tropical allure of Costa Rica to the cultural richness of Portugal, there are numerous countries offering exceptional benefits for retirees. Whether you’re drawn to serene beaches, vibrant cities, or charming villages, the world is full of destinations ready to provide the perfect backdrop for your golden years.
What you need to retire on Mauritius
Mauritius, renowned for its pristine beaches, lush landscapes, and vibrant culture, is extending an invitation to retirees worldwide to embrace a tranquil and fulfilling lifestyle on the island. In a recent Instagram video presented by influencer Aija Mayrock, President Dharambeer Gokhool encouraged individuals aged 50 and above to consider retiring in Mauritius, highlighting the island as an ideal destination for a relaxed and affordable retirement.
Residency requirements and application process
To facilitate this initiative, Mauritius has established a straightforward residency program for retirees. Applicants must meet one of the following financial criteria:
Annual transfer: A minimum annual transfer of USD 18,000 (or its equivalent in freely convertible foreign currency) into a local bank account in Mauritius.
Monthly income: A guaranteed minimum monthly income of USD 1,500.
The application process is entirely online through the National Electronic Licensing System, streamlining the procedure for prospective retirees. This system allows applicants to submit necessary documents and track their application status remotely, eliminating the need to travel to Mauritius for the initial application.
Additional benefits and considerations
The residency permit granted under this program is valid for ten years and is renewable. After three years, retirees may be eligible to apply for permanent residency, provided they meet specific criteria, including the transfer of at least USD 54,000 during the preceding three years.
Furthermore, the program extends benefits to close family members of the primary applicant. Spouses, parents, and unmarried, unemployed children can apply for authorization to reside in Mauritius, fostering a family-friendly environment.
Other retirement destinations
While Mauritius offers an attractive retirement option, other countries also present compelling opportunities for retirees. For instance, Costa Rica is renowned for its "Pura Vida" lifestyle, offering a low cost of living, excellent healthcare, and a welcoming expat community. Similarly, Panama provides retirees with a Pensionado Program, granting significant discounts on various services and products, making it a popular choice among retirees seeking affordability and quality of life.
In Europe, countries like Portugal and Spain offer favorable residency programs for retirees, including tax incentives and a high quality of life. Portugal's Non-Habitual Resident (NHR) tax regime, for example, offers substantial tax benefits to foreign retirees. Spain's Golden Visa program allows retirees to obtain residency through property investment, attracting many seeking a Mediterranean lifestyle.
Retirement is a significant milestone, and choosing the right destination can greatly influence one's quality of life during this phase. Various organizations and publications have evaluated countries based on factors such as healthcare, cost of living, safety, and overall quality of life to determine the best places to retire.
Top countries to retire
Costa Rica
International Living's 2024 Annual Global Retirement Index: Costa Rica leads the list, offering an affordable cost of living, diverse microclimates, and a high quality of life. The country is also home to a Blue Zone, known for its healthy, long-living population.
Portugal
U.S. News & World Report: Portugal is recognized for its affordable living, rich culture, and favorable tax policies for retirees.
Mexico
Kiplinger: Mexico offers a low cost of living, proximity to the U.S., and a variety of climates and lifestyles, making it a popular choice for retirees.
Panama
International Living's 2025 Rankings: Panama is highlighted for its Pensionado Program, which offers significant discounts to retirees, and its use of the U.S. dollar, simplifying financial matters.
Spain
Forbes: Spain is noted for its rich culture, excellent healthcare system, and the Golden Visa program, which allows retirees to obtain residency through property investment.
Malaysia
Travel + Leisure: Malaysia is recognized for its affordable cost of living, modern amenities, and diverse culture, making it an attractive destination for retirees.
Thailand
Travel + Leisure: Thailand offers a low cost of living, beautiful beaches, and a rich cultural experience, appealing to many retirees.
Ecuador
Kiplinger: Ecuador is known for its affordable living, diverse climates, and vibrant culture, making it a top choice for retirees.
France
Kiplinger: France offers a high quality of life, excellent healthcare, and a rich cultural heritage, appealing to many retirees.
Colombia
Kiplinger: Colombia is recognized for its affordable cost of living, diverse climates, and vibrant culture, making it an attractive destination for retirees.
Considerations when choosing
When selecting a country for retirement, it's essential to consider:
Healthcare Quality: Access to quality medical care is crucial.
Cost of Living: Ensure the destination aligns with your financial plans.
Safety: Research crime rates and general safety.
Cultural Fit: Consider language, customs, and lifestyle.
Residency Requirements: Understand visa and residency regulations.
Each of these countries offers unique advantages, and the best choice depends on individual preferences and circumstances. It's advisable to visit potential destinations, consult with financial advisors, and consider trial living arrangements before making a final decision.
