Retirement is a time to relax, explore new horizons, and savor life’s joys. If you’re considering retiring abroad, the world is full of enticing options. In this article, we’ll delve into the five best cities to retire in outside of the United States that offer an ideal blend of affordable living, diverse lifestyles, captivating attractions, and mouthwatering cuisine. So, pack your bags, embrace a new chapter of your life, and discover these remarkable retirement destinations.
Lisbon, Portugal
With its reasonable cost of living, Lisbon is an affordable European gem for retirees and one of the best cities to retire in. You can expect to pay around $1,521 to $2,020 for a comfortable lifestyle in the city. A meal at a casual inexpensive restaurant is about $12 and a three-course lunch or dinner for two is about $50, according to Numbeo. It boasts sunny weather, picturesque views, and a rich history that permeates its narrow streets.
The city is famous for its captivating architecture, including the UNESCO-listed Belém Tower and Jerónimos Monastery. It is also renowned for its traditional Fado music, which means fate and often has melancholy lyrics and tunes. Bacalhau à Brás is the country’s national dish and is a delicious salted codfish dish mixed with eggs, potatoes, onions, and olives. Explore the city by starting at the charming districts of Alfama and Bairro Alto, then board a sunset cruise along the Tagus River, and lastly take a day trip to the fairytale-like town of Sintra, which is a 30-minute drive away from the center of the city.
The Retirement Process
As an American, you will need to apply for a Portuguese residency visa. The category you will need to apply for is the Type 1 Resident Visa. Typically, you will need proof of income or passive income sources, a criminal record check, a valid passport, proof of health insurance, and to pay the visa fee of $120. Lastly, contact the Portuguese embassy or consulate in the United States once you have all the required documents to schedule an appointment and submit your visa application. For more information, check out the official Portugal embassy website.
Medellin, Colombia
Medellín offers a remarkably low cost of living, making it an attractive retirement option and one of the best cities to retire in. You can expect to pay around $744 to $820 for a comfortable lifestyle in the city. A meal at a casual inexpensive restaurant is about $4 and a three-course lunch or dinner for two is about $24, according to Numbeo. Nicknamed the “City of Eternal Spring” for its pleasant climate, Medellín proudly has a lively lifestyle and is known for its remarkable transformation from a troubled past to a vibrant and innovative city.
The Medellín Metrocable, a cable car system offering breathtaking city views, is an iconic symbol of progress. The country’s national dish is Bandeja Paisa, a hearty platter consisting of beans, rice, ground beef, plantains, chorizo, avocado, and a fried egg. Explore the city by starting at the colorful neighborhoods of Comuna 13 then take a cable car ride to Parque Arví for hiking and nature trails, and lastly visit the inspiring Museo de Antioquia, home to renowned artist Fernando Botero’s works.
The Retirement Process
You will need to obtain a Colombian retirement visa, known as the TP-7 visa, which allows you to reside in Colombia as a retiree. Required documents for the visa application typically include a valid passport, proof of retirement income (such as pension statements or 401(k) distributions), criminal record check, and proof of health insurance coverage. Consult the nearest Colombian consulate or embassy to obtain the most accurate and up-to-date information regarding visa requirements. For more information, check out the official Colombia embassy website.
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Chiang Mai, Thailand
Chiang Mai provides an affordable cost of living, attracting retirees seeking a high quality of life at a reasonable price and it’s one of the best cities to retire in. You can expect to pay around $725 to $847 for a comfortable lifestyle in the city. A meal at a casual inexpensive restaurant is about $1.50 and a three-course lunch or dinner for two is about $15, according to Numbeo. Known for its tranquil and serene atmosphere, Chiang Mai offers a relaxed lifestyle surrounded by lush mountains and ancient temples.
The city has a thriving expat community and provides a perfect blend of tradition and modernity. Furthermore, Chiang Mai is renowned for its annual Yi Peng Lantern Festival, where thousands of lanterns light up the sky. It is also famous for its traditional Thai massage and bustling night markets. Pad Thai is the country’s national dish and is a delicious stir-fried noodle dish with a perfect balance of sweet, sour, and spicy flavors. To explore the city visit the awe-inspiring Wat Phra That Doi Suthep temple, then unwind in a meditation retreat at a Buddhist monastery, and lastly explore the vibrant Nimmanhaemin Road with its trendy cafes and boutique shops.
The Retirement Process
The most common option for retirees is the Non-Immigrant O visa, also known as the Retirement Visa. You must be at least 50 years old, have a valid passport with at least a year remaining before expiration, and provide proof of funds. The next step would be obtain a one-year visa extension and provide a Departure Card TM.6, Thai Bank Book (original), a
letter from your Thai Bank, three 4×5 cm passport photos, along with the previous requirements. It is crucial to obtain a re-entry permit along with the visa extension as they have different purposes and are both required. It is required to report to the Immigration Police every 90 days. If you cannot obtain an extension while inside of Thailand, you will have to apply again for the same visa from a Thai Embassy or Consulate. To show the proof of funds there are two options: Maintain a minimum balance of 800,000 Thai Baht (THB) (approximately $25,000) in a Thai bank account for at least three months prior to the visa application or show a monthly income of at least 65,000 THB (approximately $2,000) through a combination of pensions, investments, or other sources. For more information, check out the official Thailand embassy website.
Malaga, Spain
Málaga offers a reasonable cost of living compared to other Spanish cities and it’s one of the best cities to retire in. You can expect to pay around $1,406 to $1,563 for a comfortable lifestyle in the city. A meal at a casual inexpensive restaurant is about $10 and a three-course lunch or dinner for two is about $54, according to Numbeo. Situated on the stunning Costa del Sol, Málaga offers a relaxed Mediterranean lifestyle. With its warm climate, beautiful beaches, and rich cultural heritage, the city is a haven for art enthusiasts and beach lovers alike.
Málaga is the birthplace of the legendary artist Pablo Picasso. Furthermore, the city hosts several museums and galleries, including the Picasso Museum and the Carmen Thyssen Museum. The country’s national dish is Paella, a delectable rice dish cooked with a variety of seafood, vegetables, and saffron-infused flavors. Explore the city by taking a stroll along the charming streets of the historic center before relaxing on the sunny beaches of La Malagueta, and lastly exploring the majestic Alcazaba fortress overlooking the city.
The Retirement Process
As an American, you’ll need to apply for a non-lucrative visa to live in Spain. This visa is suitable for retired individuals with sufficient income or savings to support themselves. The requirements include a valid passport, proof of medical insurance with full coverage in Spain, proof of funds typically up to $30k shown in bank statements, an FBI police report to show a clean record, a medical certificate signed by a licensed physician, two passport photos, and a completed application form. For more information, check out the official Spain embassy website.
Cuenca, Ecuador
Cuenca provides an incredibly affordable cost of living, making it an attractive destination for retirees on a limited budget and one of the best citires to retire in. You can expect to pay around $865 to $927 for a comfortable lifestyle in the city. A meal at a casual inexpensive restaurant is about $3.50 and a three-course lunch or dinner for two is about $35, according to Numbeo. Known as the “Athens of Ecuador,” Cuenca is a charming colonial city nestled in the Andean highlands. In addition, it offers a tranquil and peaceful lifestyle, with its mild tropical climate, cobblestone streets, and breathtaking mountain views.
Cuenca is famous for its well-preserved colonial architecture, highlighted by the iconic blue-domed Catedral de la Inmaculada Concepción. Also, the city is recognized for its thriving historical artisanal culture. Cuy is the country’s national dish and it’s a traditional Ecuadorian dish featuring roasted guinea pig served with potatoes and peanut sauce. Explore the city by visiting the picturesque Parque Calderón, then pass by the fascinating Pumapungo Archaeological Park, and lastly immerse yourself in the vibrant arts scene at the Museo de Arte Moderno.
The Retirement Process
There are a few visa options available for retirees, however, the most common visa for retirees is the Pensioner Visa (also known as the 9-I Visa). Alternatively, you can also apply for an Investor Visa or a Professional Visa if you meet the respective requirements. For the Pensioner Visa, you would need to provide the following documents: Proof of monthly income of at least $800, plus an additional $100 for each dependent, proof of pension or retirement funds, undergo a background check from your local authorities, a medical certificate from a licensed physician, stating that you are in good health, pay application fee of $50, and lastly ensure your passport is valid for at least six months beyond your intended stay. For more information, check out the official Ecuador embassy website.
Conclusion
Retirement is an opportunity to embrace new adventures and immerse yourself in different cultures. The cities mentioned—Lisbon, Medellín, Chiang Mai, Málaga, and Cuenca—offer a combination of affordable living, captivating attractions, tantalizing cuisine, and engaging activities. Moreover, each of the 5 best cities to retire in presents retirees with unique experiences and a chance to create lasting memories in their golden years. So, choose your dream retirement destination and embark on a new chapter filled with excitement, relaxation, and exploration.