When we decide what year we want to retire but do not want to do so in the United States, we should always choose our new location with as much information as possible. True, there are many countries in the world where we can spend our retirement, but not all of them are as appealing.
If we are considering going to Europe to spend our retirement years, or at least some of them, we must keep in mind that with a US passport, we cannot always stay in another country indefinitely.
The more information we can gather on the subject, the better our life will be in retirement. This is essential for being able to spend as much time as we want in our golden years in areas of Europe or any other continent.
6 European countries to spend retirement in
The truth is that when we talk about retirement in Europe, we are talking about a very broad topic, because Europe is made up of many different countries, each with its own set of laws governing permits for foreigners to live on their streets. And for that reason, we need to know what some of these countries have to offer.
So, here are the six most appealing European countries in which to easily spend your retirement:
Retirement in Cyprus
One of Cyprus’s major advantages is that purchasing any property of any value automatically grants residency. As a result, we wouldn’t need much more documentation to live there without problems.
Nonetheless, it is important to note that Northern Cyprus is not a member of the European Union. It is true that there are discussions about it, and it is possible that this will happen in the near future, but it is not currently part of that area.
When it comes to Southern Cyprus, the “Category F” visa can also be used to apply for residency. This is obtained by opening an account and making a minimum deposit of $9,000. After that, we must decide whether to buy or rent a house. In the second scenario, the opposite is required for at least a year.
Retirement in Portugal
In theory, Portugal is the place in Europe where we can retire quickly and affordably. To obtain a visa, we only need to prove an income of about $1,200 per month.
Thus, having a passive income and obtaining a D7 visa allows you to retire in Portugal. Although it is only valid for two years, it can be renewed indefinitely.
However, it is not only necessary to meet these requirements; you must also demonstrate that you intend to stay for at least 16 months of the first 24 months of residence. However, after spending the first five years, you can apply for permanent residence.
Retirement in Greece
Although it is appealing to spend retirement in Greece, the requirements may be slightly higher than in the other countries on the list. To begin, we must prove a monthly income of at least 3,500 euros. This means we must prove that we earn approximately $3,700 per month.
This allows us to obtain a visa for a financially independent person (FIP), but it is only valid for two years. Although it is renewable, we can extend its duration. After five years of living with this permit, we can apply for permanent residence, which will result in citizenship after seven years.
Retirement in Ireland
If we talk about retirement outside of the United States, Ireland can be very appealing because it does not require learning a new language. This makes Ireland one of the most popular retirement destinations for American citizens. In this regard, Irish ancestry played a significant role in the decision.
True, we can obtain Irish citizenship by providing proof of our ancestry, but this is not the only option. Although applying for residency in Ireland is not difficult, it is not inexpensive, so we must consider this when choosing Ireland as a destination.
We must demonstrate an annual income of approximately $52,000 for each family member applying for citizenship. In addition, we must have enough money to cover any unexpected expenses. And we must prove all of this with documentation. The minimum amount in this regard is typically related to the possibility of purchasing a home, which is approximately $350,000.
Retirement in Spain
Spain is one of Europe’s most popular retirement destinations for people from all over the world. In the United States alone, there were 41,000 resident Americans in 2024. Overall, it is a very easy country to meet income requirements in.
It is possible to apply for a non-lucrative visa (NLV) and spend a significant amount of time in Spain without incident. This visa, also known as a passive income visa, requires only that you prove your monthly income. A monthly income of 2,400 euros (approximately $2,550) is sufficient.
It is true that this type of visa does not allow us to work, but if we plan to retire, we will not need to work, so we will not have any issues in this regard.
Retirement in Montenegro
Retirement in Montenegro is not the most well-known option for Americans visiting the United States, but it is unquestionably a good way to spend one’s golden years.
Simply purchasing a property will be sufficient to obtain a one-year temporary residence visa. This visa is renewable provided that you continue to own the property.
Even so, keep in mind that you should not leave the country for more than one month per year. Otherwise, you will lose your visa and will be unable to apply for it for a while. However, after five years in this situation, you can apply for permanent residence.
