The Top 10 Countries for Retiring Abroad, According to the 2026 Global Retirement Index

Skip to main contentFrom sunny European climes to South American surf hubs, these are the best countries for globe-trotting retirees.Getty ImagesThere is a point in life when everyone inevitably starts dreaming of retirement. For me, these thoughts came unexpectedly when I was just about to enter my 30s. Retirement seemed like a very far-away concern, but also one that required a bit of thought considering the difficulties that millennials and Gen Z are now facing—namely, the rising cost of living, a dire housing market, and a retirement age that is only getting higher.There are quite a few aspects to consider when deciding where to retire. For me, quality of life, mild weather, and a good healthcare system are high priorities, as well as having a pre-existing network of friends and family. For others, dual citizenship options, tax optimization, and cost of living may be of more importance.This is where the 2026 Global Retirement Report and Index comes in, a new report compiled by Global Citizen Solutions. The annual index compares 46 residency programs across Europe, the Americas, Asia-Pacific, the Middle East and Africa. Importantly, every country on the list has a residency route aimed at retirees or financially independent people, such as Portugal's D7 Visa and Spain's Non-Lucrative Visa.To determine the order of the ranking, researchers assessed each program across five weighted categories: quality of life, mobility and citizenship, tax optimization, procedure, and costs and investment. This covers everything from safety and environmental quality to income requirements, processing times, tax rates, and the route to permanent residency or citizenship. Quality of life and mobility and citizenship were given the greatest weight.Interestingly, there is no runaway winner. Fewer than four points separate the entire top 10, with six European countries making the cut, alongside three in the Americas and one in Africa. The report itself recommends looking at the leading countries as a group of strong options rather than treating their positions as a definitive order. At the end of the day, everyone has different needs and a choice as important as a big international move depends on individual priorities. These are the 10 countries that came out on top.Paros, Greece Getty Images10. GreeceAbundant sunshine, beautiful islands, and some of the best food in Europe already make this Mediterranean nation an enticing retirement prospect, but Greece's residency program also stands out for long-term mobility. Greece received the highest mobility and citizenship score in the entire index, with its Financially Independent Person Visa providing a route to naturalization after seven years. According to the report, applicants need to demonstrate an income of €3,500 (about £2,987) per month, while qualifying retirees may also benefit from Greece's 7% flat tax on foreign-source income for up to 15 years.Venice, Italy Getty Images9. ItalyAs an Italian, the south of Italy would be my first retirement choice, but you don't have to be born in Italy or have family there to feel at home. If spending retirement eating pasta in a hilltop village sounds like your idea of heaven, there is good news. Italy placed ninth overall and second in the index for mobility and citizenship. According to the report, its Elective Residency Visa is aimed at people able to support themselves without working in Italy and requires passive income of around €31,000 (about £26,461) per year. Italy also offers a particularly attractive tax incentive for some retirees: those who settle in qualifying smaller municipalities in southern Italy can benefit from a seven per cent flat tax on foreign income for up to 10 years.Grandvalira ski resort, Andorra Getty Images8. AndorraPerhaps a more unexpected entry in the top 10 is this tiny country wedged between France and Spain in the Pyrenees. Andorra stands out for its quality of life, ranking third in that category. Personal income tax is capped at 10%, while there is no wealth or inheritance tax. There is, however, a considerable catch: following changes introduced in February 2026, passive residents must make a qualifying investment of €1 million (around £853,445), giving Andorra the highest cost of entry of all 46 programs analyzed. Its naturalisation process is also considerably longer, at 20 years.Riga, Latvia Getty Images7. LatviaLatvia may be a less obvious retirement destination than Mediterranean favorites such as Spain and Italy, but its relatively accessible residency route helped it reach seventh place. It has the fastest process among the top 10, at around 2 months, while the standard application fee is just €160 (about £136). Applicants must be aged 65 or over, receive pension income of €1,231 (£1,050) per month—the threshold as of April 2026—and hold a passport from a visa-free country, which includes the US and UK. Successful applicants also gain the ability to travel throughout the Schengen Area, which is a big plus if you are planning to spend your retirement traveling around Europe.Ciudad del Este, Paraguay tifonimages6. ParaguayParaguay is one of three South American countries in the top 10, scoring particularly well for affordability and taxation. According to the report, applicants can qualify with an income of $1,200 (around £890) per month, while the country's territorial tax system means foreign-source income is generally not taxed. There is also no wealth or inheritance tax. According to the report, the biggest compromise is quality of life, where Paraguay received the lowest score of any country in the top 10, although its relatively low cost of entry helped push it to sixth place overall.Algarve, Portugal Francesco Riccardo Iacomino5. PortugalPortugal has long been a favorite among people dreaming of moving abroad, thanks to its warm climate, gorgeous coastline and laid-back lifestyle. Unsurprisingly, it performed particularly well for quality of life and mobility. Its D7 Visa is also relatively accessible, with a minimum income requirement of €920 (£785) per month, the lowest among the European countries in the top 10. There are downsides, however: the report estimates that the process can take between 18 and 24 months, while changes introduced in 2026 extended the standard path to Portuguese citizenship to 10 years for most applicants.Arenal Volcano, Costa Rica Getty4. Costa RicaWith tropical beaches, lush rainforests, and a famously laid-back approach to life, Costa Rica hardly needs much help selling itself as a retirement destination. Its Pensionado Visa makes the prospect even more appealing, requiring a lifetime pension of at least $1,000 (around £740) per month – the lowest financial threshold in the top 10. Foreign pensions generally fall outside the local tax net under Costa Rica's territorial system, and there is no wealth or inheritance tax. The main drawback is time: residency applications typically take between 12 and 18 months to process. It is also quite a long way from the UK, something worth considering if you are planning to travel back regularly to see family and friends.Seville, Spain Getty Images3. SpainEvery time I visit Spain I think about moving there, so it isn't difficult to see why it remains one of the world's most appealing places to retire. The country ranked fifth for quality of life and scored particularly highly for mobility and citizenship, helping it secure third place overall. According to the report, Spain's Non-Lucrative Visa requires applicants to demonstrate €2,400 (£2,048) per month in passive income and doesn't allow holders to work locally. The main drawback is tax: Spain came last of all 46 countries in the index's Tax Optimisation category, partly because residents are generally taxed on worldwide income.Chamarel Waterfall, Mauritius Getty2. MauritiusWhite-sand beaches and year-round tropical weather are certainly compelling reasons to consider Mauritius, but its tax system helped propel the Indian Ocean island into second place. It had the highest Tax Optimization score among the top 10 countries, with favorable treatment of foreign-source income and no wealth or inheritance tax. According to the report, retirees must demonstrate $2,000 (around £1,490) per month in income, or transfer $24,000 (around £18,135) annually. The program also allows applicants to include partners, dependent children up to the age of 24, and parents, making it a turn-key option for those planning to relocate with family.Rocha's hills, Uruguay Getty Images1. UruguayTaking the top spot for 2026 is Uruguay. Rather than dominating one particular category, the South American country came out on top thanks to its strong performance across the board – it was one of only two countries in the top 10 to score at least 75 in every category. Applicants can apply directly for permanent residency without first going through a temporary residency stage. While the report cites a stable monthly income of $1,700 (around £1,265), Uruguay does not actually publish a fixed minimum income for general permanent residency, instead requiring applicants to demonstrate sufficient means to support themselves. Uruguay also offers one of the shortest routes to naturalisation in the index: three years for married applicants and five for single applicants.This article was originally published on Condé Nast Traveller UK.