Countries where to move to for retirement
Also read :Foreign pensioners in the South of Italy: 7% taxation
By now, pensioners looking for information to find a solution to the need of living in a more relaxed way are more and more. It has been a long time now that our country doesn’t managed to guarantee a cost of living sufficient to make ends meet, for some parts of the population. The trend of those who set up a plan to leave our country is growing and the reason is always the same.
Emigration beyond the age of 60 is an alarming phenomenon for any State, as it amounts to a concerning denunciation of incompetence and inaction. Some European countries are taking advantage of this situation, attracting pensioners through tax exemptions and protective measures.
We will properly begin with the one who, through a very aggressive tax policy, managed to attract the pensioners from all over Europe.
Moving to Portugal
This country has a favoured geographical position since it overlooks the ocean. Since years, they decided to apply a tax policy for foreign seniors, according to which they grant a tax exemption for 10 years. The only need is to get the certificate of Non Habitual Resident and to stay in the country 183 days a year.
What mainly interests pensioners is the tax exemption applied on the retirement pension also. These are bilateral agreements between Italy and Portugal, according to which the pension is paid to the Italian pensioners, in full, without any of the deductions that usually weigh on. The amount received can thus increase up to 30%.
To this important option, we should add that in Portugal, life is cheaper while offering better social conditions regarding the services, including health care, and a better standard of living in general.
Moving to the Canary Islands
Thousands of Italians, not only pensioners, have moved to this tax haven and natural paradise. The climate is perfect all year round; it’s like a warm spring. This small country is part of Spain, with all the positive sides resulting from the membership of the European Union and furthermore the spoken language is very understandable for us Italians. The cost of living is low because of the decision to set the VAT at 7%. The presence of many Italians guarantees a valid support for anyone wishing to settle on the island.
Moving to Switzerland
It is a choice for pensioners who receive at least a 3.000 Euros pension, since the Swiss State wants to ensure, before granting a residence permit for pensioners, that they won’t be a weight for the state’s coffers. Therefore, you must also subscribe to medical insurance. The country is very beautiful because it is located in the centre of Europe, with a noticeable level of cleanliness and organisation.
Moving to Bulgaria
In this country, those who have a low pension, even 600 or 700 Euros per month, can manage very well. The cost of living is indeed much lower than in Italy and all in all, you are in the middle of Europe. An important decision, since it is quite different from Italy but you will live there as if your retirement pension was more than 2,000 Euros per month.
Moving to Thailand
A country that has a lot to offer in terms of quality of life, with a cost to live there that is quite low. That country has grown a lot in a few years and because of that, it is not as worthwhile as it has been in the past. The minimum pension is probably not enough anymore, but if you receive more than 1 400 Euros, you can have a quite good life. Thailand has a policy in favour of the over 50s through which it is possible to get a 12 months residence permit, renewable as many times as desired. The important thing is to have deposited at least 20,000 Euros at the bank.
Moving to Greece for retirement
Greece also, is considered an affordable country for Italian pensioners. The climate is quite similar to southern Italy and the cost of living is lower. It’s like spending extended holidays, with the advantage of being close enough to your own country. In some islands, tax breaks for seniors are granted. A pension of 1,000 euros is enough live well. You get a warm welcome everywhere and regarding the language, you can use English. In this period, this nation is just recovering from financial problems, which are also tormenting Italy. Thus, there is a kind of fraternity between Italians and Greeks.
Other countries could do the job for retired Italians, from the moment they feel the desire to go far, where the cost of living is acceptable. One of these is Ecuador, a paradise especially for the climate and the beautiful and quiet beaches. If you do not want to go very far, you have to do the math because maybe South of France can be a place to live permanently. It is not for nothing that it is considered as an extension of Italy, it is because of the presence of very many retired Italians.
