The Best Places To Retire Abroad In 2020

^When Richard Detrich and his wife, Nikki Steele, started contemplating where to retire, they went about it methodically. The couple had already agreed to move abroad. Next, they each drew up a list of the 15 most important factors to them and then compared notes. Turned out their lists were pretty similar. The Ventura, California, residents both wanted to live in a place with warm weather and a lower cost of living that was convenient for their adult children to visit. The new home also had to be in a country that had a stable government and economy and whose residents were welcoming to newcomers. After poring over lots of data, the pair settled on Boquete, Panama, a mountain town near the narrow country’s western border with Costa Rica. Fifteen years later, they still live in that same town they selected all those years ago. “It’s worked out,” says Detrich, now 77.

More Americans like Detrich and Steele have been retiring abroad in recent years. The U.S. Social Security Administration, for instance, now sends 700,000 checks a month to foreign addresses, up about 40% over the past decade, with the most checks going to Canada. To compile our recommended roster of hot spots to retire, we considered a variety of factors, some of which were the same as Detrich and Steele.  Among them: cost of living; quality and cost of local healthcare; overall safety; political stability; taxes (which in many places can be a burden); local hospitality; weather, food, culture; and how easy it is to get by speaking only English.  We also took into account how hard it is to get permission to stay. Generally, a would-be expat retiree has to complete a ton of paperwork and show steady retirement income (of varying amounts) from sources such as Social Security, pensions and retirement accounts. Canada has made it nearly impossible for retirees without relatives there to gain permanent residency, but it remains on our list because it is still popular with retirees who can spend six months a year there.

Below are our picks of favorite spots to consider retiring. We highlighted 25 countries and up to three specific locales in each, for a total of 65 places. One of them is Boquete, Panama, the town that Detrich and Steele chose. You can find more details on Detrich, retiring abroad and this list here. Forbes’ 25 favorite domestic retirement locations are here.

ARUBA

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Island with sunny, stunning Caribbean beaches outside of the hurricane zone

LOCATIONS: Oranjestad, Palm Beach, Eagle Beach

LIVING COSTS: Moderate to high

HEALTHCARE: Excellent

GAINING RIGHT TO STAY:  Moderately easy but somewhat pricey

A constituent part of the Netherlands, the island of Aruba with its stunning, sunny beaches, wide range of outdoor activities and relaxed culture, sits in the Caribbean just off the coast of Venezuela, outside of normal hurricane paths. Cost of living is not less than the U.S. and local income taxes are high, but a U.S. tax treaty with the Netherlands bars double taxation. Healthcare is rated as excellent, although private insurance is needed. Crime is not a big problem. English is widely spoken. Gaining legal residency is moderately easy, but generally requires the purchase of a residence and proof of annual retirement income of more than $40,000. Miami is a quick three-hour flight. Retirement locations include the capital Oranjestad, Palm Beach and Eagle Beach.

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AUSTRALIA

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Down Under continent of friendly English-speaking folks with lots to do

LOCATIONS: Adelaide, Brisbane, Sunshine Coast

LIVING COSTS: Moderate

HEALTHCARE: Excellent

GAINING RIGHT TO STAY:  Difficult but doable, if pricey

The world’s only single-country continent, Australia has friendly people who speak English, stable politics, low crime and a warm, often dry, climate featuring lots of beaches. Cost of living is moderate. Healthcare is reasonably priced, but private insurance is a must. Would-be expat retirees have to meet stiff financial requirements, including a net worth of at least $600,000 for a couple. Australia doesn’t tax foreign income of expats, and a tax treaty with the U.S. bars double taxation. Trips back to the States are direct, but very long; it takes 14 1/2 hours from Melbourne to Los Angeles. Top retirement locations include Adelaide on the south coast; and Brisbane and the Sunshine Coast on the east coast.

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BELIZE

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English-speaking Central American country full of flora, beaches and coral reefs, convenient to the U.S.

LOCATIONS: Ambergris Caye, Corozal

LIVING COSTS: Reasonable

HEALTHCARE:  Basic

GAINING RIGHT TO STAY:  Very easy

The sole Central American country with English as the official language, Belize offers retirees a warm, outdoor-oriented environment, including fishing and barrier reef diving. Cost of living is quite reasonable. Crime is not a problem outside Belize City. Quality healthcare can be an issue; retirees often return to the U.S.—a two-hour plane ride to Houston—for major medical needs. The politically stable country lures retirees with a Qualified Retired Persons program that offers permanent residency upon showing just $24,000 in annual income. Popular venues for retirees include Ambergris Caye, an island 35 miles northeast of Belize City, and Corozal, a mainland city on the Atlantic Ocean near Mexico.

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CANADA

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Northern neighbor with beauty, convenience, lots of English speakers—but impediments to obtaining retirement residency

LOCATIONS: Guelph, Niagara-on-the-Lake, Moncton

LIVING COSTS: Moderate to high

HEALTHCARE:  Excellent

GAINING RIGHT TO STAY:  Very, very difficult

Hugging the U.S.’ northern border, Canada has beauty galore and friendly people. Cost of living, though, is higher than the U.S. average. Healthcare is excellent. But the government-run single-payer insurance system is closed to non-permanent residents, so private insurance or trips back to the U.S. to use Medicare are needed. In the absence of a family connection, it is very, very difficult for U.S. retirees to gain permanent residency in Canada. But Yankees generally can spend six months a year in Canada on a tourist visa. Immigration lawyers suggest simply splitting retirement between the two countries. Inviting locations include Guelph, Niagara-on-the-Lake and Moncton.

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COLOMBIA

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South American country with varying climates, quick plane rides to U.S.

LOCATIONS: Medellín, Pereira, Cartagena

LIVING COSTS: Very reasonable

HEALTHCARE:  Excellent

GAINING RIGHT TO STAY:  Easy

Colombia has successfully shed its drug cartel history to become a popular expat retirement haven. The politically stable country has terrific weather and scenery, coupled with a low cost of living and affordable quality healthcare. Knowledge of Spanish is very helpful. Crime, though, is still a problem. Pensions and Social Security payments are not subject to Colombian tax, but there is no tax treaty against double taxation with the U.S. Retirement visas are relatively easy to get as long as one can show $24,000 in sustainable annual income. Flights back to the U.S. are short and often nonstop. Inviting locations include the mountain valley cities of Medellín and Pereira and the coastal city of Cartagena.

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COSTA RICA

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Central American country with lush tropics and beaches on two oceans

LOCATIONS: San José, Atenas, Central Valley, Santa Cruz

LIVING COSTS: Very reasonable

HEALTHCARE:  Good

GAINING RIGHT TO STAY:  Easy

Costa Rica remains very popular for U.S. retirees, featuring broad beaches on two oceans, lush scenery in between and a tropical climate. Living costs are quite reasonable, crime rate is low, and the politics are stable. Healthcare in the larger cities is good and cheap. Knowledge of Spanish is helpful but not essential. The country encourages expat retirees who have minimal pension or Social Security income. The U.S. and Costa Rica do not have a tax treaty avoiding double taxation, but Costa Rica does not tax foreign income of retirees. Miami and Houston are three hours away by nonstop plane. Inviting venues include the capital San José, the mountain-flanked Central Valley plateau with spring-like weather year round, and the Pacific Ocean city of Santa Cruz.

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CROATIA

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Mediterranean climate and gorgeous scenery anchoring a European culture

LOCATIONS: Dubrovnik, Istria peninsula, Pula

LIVING COSTS: Very low

HEALTHCARE:  Adequate and affordable

GAINING RIGHT TO STAY:  Relatively easy

Across the Adriatic Sea from Italy, Croatia has put a 1990s civil war behind it. The country has gorgeous scenery, an inviting Mediterranean climate for much of the area, and good food and wine. The cost of living is low, as is the crime rate. Healthcare is adequate and affordable. Some English is spoken. Retirement visas are relatively easy to get. Expat retirees get tax breaks, although there is no U.S.-Croatia tax treaty against double taxation. Plane trips back to the U.S. require a change somewhere in Europe. Retirement venues include the medieval port city of Dubrovnik and the Istria peninsula.

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CYPRUS

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Sunny Mediterranean island nation where English is widely spoken

LOCATIONS: Limassol, Paphos, Pyrgos Village

LIVING COSTS: Low

HEALTHCARE: Good and affordable

GAINING RIGHT TO STAY: Relatively easy

Nestled in the eastern end of the Mediterranean, Cyprus (the southern 60% of the island not controlled by Turkey) offers a sunny environment with terrific beaches, a Greek culture and a growing reputation for expat retirement. There is a low cost of living and a low crime rate. English is widely spoken. Healthcare is good, and permanent residents can qualify for the public healthcare system, although private health insurance is available. A tax treaty between Cyprus and the U.S. prevents double taxation. Retirees start by applying for a Category F residency permit, which requires a showing of $15,600 in annual retirement income for two. Buying a residence costing at least $333,000 can speed up the process. Trips back to the States from Larnaca International Airport require a change in Europe. Possible places to settle include the coastal cities of Limassol, Paphos and Pyrgos Village.

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DOMINICAN REPUBLIC

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Sunny Caribbean nation offering beaches and a lot of golf

LOCATIONS: Las Terrenas, Samaná, Santo Domingo

LIVING COSTS: Very low

HEALTHCARE: Good and affordable

GAINING RIGHT TO STAY: Easy

The Dominican Republic has tropical Caribbean weather, lots of golf courses and beaches, and a very low cost of living. Politics have become stable. Healthcare is considered good and affordable. Serious and property crime can be a problem in certain areas. Knowledge of Spanish is very useful. The country welcomes retirees upon a showing of minimal sustainable income. Pension and Social Security income is tax-exempt, but there is no tax treaty with the U.S. against double taxation. Plane trips to the U.S. are quick: two and a half hours to Florida. Good spots include the northern beach cities of Las Terrenas and Samaná, and the capital, Santo Domingo.

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FRANCE

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Classic European experience with great food and wine

LOCATIONS: Bordeaux, Lyon, Carcassonne

LIVING COSTS: Moderate (outside of Paris) to high (in Paris)

HEALTHCARE: Excellent and cheap

GAINING RIGHT TO STAY: Difficult but doable

Besides the food, France offers retirees high-quality healthcare at low prices, paid through private insurance or out of pocket. Cost of living varies widely but gets a lot cheaper away from Paris. Knowledge of some French is essential. Taxes are high, but there is a tax treaty with the U.S. against double taxation, and France does not tax U.S. pension and Social Security income. Getting a long-term visitor’s visa allowing year-round stay is difficult but doable. Flights back to the U.S. are nonstop. Besides Paris, popular retirement spots for U.S. expats include Bordeaux, in southwestern France; Lyon, near the Alps; and Carcassonne, an ancient fortress town in southeastern France.

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INDONESIA

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Warm, exotic Southeast Asia country of 17,000 islands

LOCATIONS: Bali island, Jakarta

LIVING COSTS: Very low

HEALTHCARE: Adequate and cheap

GAINING RIGHT TO STAY: Much easier than in the past

A sprawling tropical county across 17,000 islands, Indonesia has been drawing retirees for years. The country offers a low cost of living, a distinctive cuisine and a low crime rate. English is widely spoken. Healthcare, with private insurance, is adequate and affordable. A tax treaty with the U.S. blocks double taxation. Indonesia has eased residency requirements. A retirement visa requires showing of annual income of $36,000 for two, and commitment to hire a maid or driver. Journeys back to the U.S. require a change of planes and often take more than 24 hours. Much of the retirement action centers around cities on the island of Bali, and the capital, Jakarta.

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IRELAND

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Green European paradise with English speakers

LOCATIONS: Dingle, Waterford, Tralee

LIVING COSTS: Moderate (countryside) to high (Dublin)

HEALTHCARE: Good, with private insurance

GAINING RIGHT TO STAY: Difficult and expensive, but doable

With its natural beauty, the Republic of Ireland offers much to U.S. retirees. English is widely spoken, and politics are stable. Flights back to the U.S. from several airports are quick and cheap. Cost of living is not low, although the countryside is a lot cheaper than tony Dublin. Healthcare is good and affordable with private insurance that expat retirees are required to get. Those with an Irish citizen for a parent or grandparent can get citizenship (and thus the right to residency), but otherwise gaining residency for retirement generally requires a substantial annual income of $110,000 for a couple. A tax treaty with the U.S. avoids many double taxation issues. Inviting locations include the coastal villages of Dingle and Tralee in the southwest and the coastal city of Waterford in the southeast.

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ITALY

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Mediterranean culture, climate and food

LOCATIONS: Le Marche, Pescara

LIVING COSTS: Low (countryside) to high (Rome, Milan)

HEALTHCARE: Excellent, with access to public system

GAINING RIGHT TO STAY: Relatively easy, but expensive

Italy offers U.S. retirees who are residents a rare perk: participation in its state-run healthcare system. Government policy encourages U.S. retirees by issuing an elective residency visa, but only after a murky requirement of “substantial and steady economic resources.”  Cost of living is lower than in the U.S. if away from the big cities. A tax treaty between the U.S. and Italy helps avoid double taxation. Speaking Italian is definitely helpful. There are plenty of nonstop flights back to the U.S. Popular areas for American retirees include Le Marche and Pescara in the Abruzzo region along the Adriatic Coast.

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MALAYSIA

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Affordable Asian culture

LOCATIONS: George Town, Kuala Lumpur, Ipoh

LIVING COSTS: Low

HEALTHCARE: Adequate, with private insurance

GAINING RIGHT TO STAY: Easy

Malaysia draws U.S. retirees to its steamy climate for its low cost of living, outdoor vistas and exotic mix of cultures. English is widely spoken. Crime can be a problem. The government makes it easy for U.S. retirees with a My Second Home program that includes long-term visas. It’s even feasible to buy real estate. There’s no tax treaty against double taxation with the U.S., but Malaysia doesn’t tax foreign-source income. Plane trips back to the U.S. can take upwards of 19 hours. Healthcare is adequate, at least in bigger cities, but private health insurance is a must. Expat retirees are found in George Town, on the Strait of Malacca; Kuala Lumpur, the capital; and Ipoh, a foodie center.

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MALTA

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Mediterranean island nation with nice beaches

LOCATIONS: Valletta, St. Paul’s Bay, Qawra

LIVING COSTS: Reasonable

HEALTHCARE: Excellent and affordable

GAINING RIGHT TO STAY: Moderately easy

Just off Italy in the Mediterranean, Malta is a three-island nation with glorious beaches, a temperate climate and low crime. English is an official language. The government is stable and encourages expat retirees, with one-year easily renewable visas. Cost of living is reasonable, and healthcare is excellent and very affordable. A tax treaty with the U.S. prevents double taxation. Return air travel to the U.S. requires a change of planes in Europe. Retirees are found in the capital, Valletta; and St. Paul’s Bay and Qawra on the main island.

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MEXICO

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Warm climate and U.S. proximity

LOCATIONS: San Miguel de Allende, Puerto Vallarta, Tlaxcala

LIVING COSTS: Low

HEALTHCARE: Adequate and affordable, plus Medicare option

GAINING RIGHT TO STAY: Relatively easy

With its long U.S. border, Mexico offers retirees the ability to take advantage of the U.S. Medicare system, although Mexican healthcare is adequate and inexpensive, especially medications. Cost of living is low. Other pluses include a warm climate and friendly folks. A tax treaty between the U.S. and Mexico prevents double taxation. English is spoken, but not widely. Official permission to retire in Mexico is relatively easy to come by. Serious crime and property theft can be a problem, especially in some of the border towns. Return travel to the U.S. is quick and cheap. Popular places include San Miguel de Allende, Puerto Vallarta and Tlaxcala.

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PANAMA

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Florida on the cheap

LOCATIONS: Boquete, Panama City

LIVING COSTS: Low

HEALTHCARE: High quality and affordable

GAINING RIGHT TO STAY: Very easy

Sporting a sunny, warm climate, Panama is like Florida on the cheap, with affordable, high-quality healthcare to boot. Crime rates are low. The country encourages U.S. retirees. Although there is no tax treaty with the U.S., Panama does not tax the foreign source income of retirees. English is somewhat spoken. Plane trips back to the U.S. are quick. Expat retirees are found in Boquete, a town in the highlands with a somewhat cooler climate, and Panama City, the capital.

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THE PHILIPPINES

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Warm, English-speaking Pacific Ocean nation of 7,400 islands

LOCATIONS: Tagaytay, Subic Bay

LIVING COSTS: Low

HEALTHCARE: Adequate and affordable

GAINING RIGHT TO STAY: Relatively easy

A tropical country spread over 7,400 islands, the Philippines offers a low cost of living and English as an official language. Healthcare is adequate and affordable. Crime can be a problem. Permission to stay for retirees in the form of a special resident retiree’s visa is relatively easy to come by. Foreign source income is untaxed, and a tax treaty between the U.S. and the Philippines prevents double taxation. A return trip to the U.S. is a long haul: 15 hours or more. Retiree centers include Tagaytay, a suburb of Manila, and Subic Bay, site of an old U.S. Navy base.

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PORTUGAL

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Good climate, low cost of living and European culture

LOCATIONS: Algarve region, Lisbon

LIVING COSTS: Relatively low

HEALTHCARE: Good and affordable

GAINING RIGHT TO STAY: Relatively easy

At the western edge of Europe, with a warm but pleasing climate, Portugal has a relatively low cost of living for retirees and good, affordable healthcare. English is spoken widely enough. Crime rate is low. The country encourages retirees who can show yearly income of $15,000 or a $600,000 investment, which can be in property. A tax treaty between the U.S. and Portugal avoids double taxation. There is some nonstop plane service to the U.S. Many retirees are drawn to the Algarve area on the Atlantic near Lisbon, the capital, or Lisbon itself.

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SCOTLAND

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Friendly, quiet English-speaking culture in a very scenic place

LOCATIONS: Glasgow, Inverness

LIVING COSTS: About equal to the U.S.

HEALTHCARE: Excellent, with private insurance

GAINING RIGHT TO STAY: Difficult, but doable

Still part of the U.K., Scotland offers retirees a friendly, English-speaking culture with lots of history, a reasonable cost of living (especially outside of big cities) and low crime. Healthcare with private insurance is excellent. Would-be expats need to show they are “retired persons of independent means,” which seems to mean a minimum showing of $32,000 in annual income. Family connections are helpful. Taxes are high, but a tax treaty between the U.K. and the U.S. prevents double taxation. There are nonstop flights back to the U.S. Possible locations include Glasgow, the largest city, and Inverness in the Scottish Highlands.

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SLOVENIA

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Scenic, four-season country in Central Europe

LOCATIONS: Ljubljana, Bled

LIVING COSTS: Reasonable

HEALTHCARE: Adequate and cheap

GAINING RIGHT TO STAY: Moderately easy

Part of the former Yugoslavia, Slovenia offers a wide variety of stunning coastal and mountain scenery. Cost of living is reasonable. Politics are stable and crime rate is low. Healthcare with private insurance is adequate and cheap. Renewable one-year temporary resident permits are available upon showing of adequate income. A tax treaty between the U.S. and Slovenia avoids double taxation. Trips back to the U.S. are long and require a plane change in Europe. Retirement venues include the capital Ljubljana and the lake resort town of Bled.

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SPAIN

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Sunny, exciting European culture

LOCATIONS: Costa del Sol, Bilbao, Orange Blossom Coast

LIVING COSTS: Very reasonable

HEALTHCARE: Excellent

GAINING RIGHT TO STAY: Relatively easy

Sunny Spain is cheaper than much of Europe, particularly a few miles away from the gorgeous coasts and big cities. Healthcare is considered excellent. Crime rate is low. Visas for U.S. retirees are relatively easy to get upon a showing of adequate annual income, roughly $36,000 for a couple. A tax treaty between the U.S. and Spain eliminates many double taxation issues. Knowledge of some Spanish is a must. There are nonstop flights back to the U.S. Inviting venues include the Costa del Sol along the Mediterranean, Bilbao and the Orange Blossom Coast near Barcelona.

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THAILAND

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Tropical Asian environment

LOCATIONS: Chiang Mai, Bangkok, Phuket

LIVING COSTS: Very low

HEALTHCARE: Excellent and cheap

GAINING RIGHT TO STAY: Easy

Thailand is a retiree bug light thanks to an exotic Asian culture, low cost of living and healthcare so excellent and cheap it draws patients from abroad. English is widely spoken. Crime rate is low. The primary retirement visa is easy to obtain upon a showing of $22,000 in yearly income. A tax treaty between the U.S. and Thailand prevents double taxation and exempts from Thai taxation Social Security and pension payments from the U.S. Plane travel back to the U.S. can take 24 hours or longer. The northern town of Chiang Mai draws retirees, as does the crowded capital of Bangkok and the island of Phuket.

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URUGUAY

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South American democracy with great beaches

LOCATIONS: Punta del Este, Montevideo

LIVING COSTS: Reasonable

HEALTHCARE: Good and affordable

GAINING RIGHT TO STAY: Easy

Squeezed between Argentina and Brazil in the Southern Hemisphere, Uruguay with its nice beaches permits foreign retirees to use the national healthcare system, although private healthcare and insurance is quite affordable, too. Cost of living is lower than in much of the U.S. Knowledge of some Spanish is helpful. Crime can be an issue. Long a stable democracy, Uruguay offers retirement visas with a minimal annual income showing of about $18,000. Most foreign income is not taxed, which hedges the lack of a tax treaty against double taxation with the U.S. The climate has four seasons. Closer to the South Pole than to Chicago, Uruguay is a long way from the U.S. Plane trip to Miami is 9½ hours. The Atlantic Ocean coastal town of Punta del Este is popular with retirees, as is the capital, Montevideo. 

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VIRGIN ISLANDS (U.S.)

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Sunny English-speaking Caribbean venue under the Stars and Stripes

LOCATIONS: Charlotte Amalie, Christiansted

LIVING COSTS: Moderate to high

HEALTHCARE: U.S. Medicare is available

GAINING RIGHT TO STAY: Automatic if U.S. citizen or permanent resident

Not technically a foreign country but different enough (including driving on the left) to make our list, the U.S. Virgin Islands has a Caribbean culture, including year-round tropical climate and great beaches. As an American territory (purchased from Denmark in 1917), U.S. Medicare is available, although many retirees go back to the mainland for major surgeries. English is the main language. Cost of living can be higher than in the mainland U.S. Crime rate is low. Right to residency is automatic for U.S. citizens and permanent residents. Plane trips to the mainland are short. Inviting locales include the capital Charlotte Amalie, and Christiansted, on the island of St. Croix.

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