When we decide what year we want to retire but we don’t want to do it in the United States, we should always choose our new destination with as much information as possible. It is true that there are many countries in the world where we can spend our retirement, but it is also true that not all of them are equally attractive.
If we are thinking of going to Europe to spend our retirement years or, at least, some of those golden years, we have to bear in mind that with a United States passport it is not always possible to stay in another country indefinitely.
The more information we can gather on the subject, the better life we will have during retirement. This is key to 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 area, since Europe has many different countries with their own laws about permits for foreigners to live on their streets. And for that very reason we need to know exactly what some of these countries can offer us.
So, these are the 6 most attractive European countries in which to easily spend your retirement:
Retirement in Cyprus
One of the great advantages of Cyprus is that it is only necessary to buy a property of any value to obtain residency automatically. Therefore, we would not need much more documentation than that to be able to live there without problems.
Even so, we must bear in mind something important, and that is that Northern Cyprus is not part of the European Union. It is true that there are talks about it and that it is possible that in the near future this will be the case, but for the moment it is not part of that area.
If we talk about Southern Cyprus, we find that it is also possible to apply for residency through the “Category F” visa. This is obtained by opening an account and depositing a minimum of $9,000. After that, we have to either buy a house or rent a house. In the second case, the opposite is necessary for at least one year.
Retirement in Portugal
In theory, the place in Europe where we can most quickly and affordably spend our retirement is Portugal. We only need to prove an income of approximately 1,200 dollars a month to obtain a visa.
Thus, it is possible to spend retirement in Portugal thanks to having a passive income and obtaining a D7 visa. Although it is true that it is only valid for 2 years, it is also true that we can renew it indefinitely.
But it is not only necessary to meet these requirements, as it is also mandatory to prove that you will be staying for at least 16 months of the first 24 months of residence. Although in the case of spending the first 5 years it is possible to apply for permanent residence.
Retirement in Greece
Although it is true that it is attractive to spend retirement in Greece, the requirements may be a little higher than in the other countries on this list. To begin with, we will need to prove a monthly income of at least 3,500 euros per month. This means that we have to prove that we get around 3,700 dollars every month.
Thanks to this, we can obtain the visa for a financially independent person (FIP), but this is only valid for two years. Although it is renewable, so we can extend the duration. After five years of living with this permit, we can apply for permanent residence, which will become citizenship after 7 years of residence.
Retirement in Ireland
If we talk about retirement outside the United States, the truth is that Ireland can be very attractive because it does not require learning a new language. This makes Ireland one of the favorite retirement destinations for United States citizens. In this sense, Irish ancestry also has a lot to do with this decision.
It is true that with proof of that ancestry we can obtain Irish citizenship, but it is not the only way. Although it is not difficult to apply for residency in Ireland, it is not cheap to do so, so we must take this into account when choosing Ireland as a destination.
As a minimum, we must demonstrate an annual income of around $52,000 for each family member applying for citizenship. On top of that, we also have to have enough money for any unforeseen events. And we have to prove all of this with documentation. The minimum amount in this respect is usually related to the possibility of buying a house, which is around $350,000.
Retirement in Spain
Spain is one of the most popular countries in Europe for citizens from all over the world to spend their retirement. In the United States alone, there were 41,000 resident Americans in 2024. All in all, it is a very easy country to meet the income requirements in.
It is possible to apply for a non-lucrative visa (NLV) and spend a long period of time in Spain without any problems. This visa is also known as a passive income visa and you only need to prove your monthly income. Having 2,400 euros per month (around 2,550 dollars) is enough.
It is true that it is not possible to work with this type of visa, but if we are thinking of spending our retirement we will not need to work, so we will have no problems in this respect.
Retirement in Montenegro
Of all the options, retirement in Montenegro is not the best known when an American goes to the United States, but it is certainly a very good option for spending one’s golden years.
Simply buying a property will be enough to obtain a one-year temporary residence visa. This visa is renewable on the condition that you continue to be the owner of the property.
Even so, it is important to bear in mind that you should not be out of the country for more than one month a year. Otherwise, you will lose the visa and will not be able to apply for it for a while. However, after 5 years in this situation, it is possible to apply for permanent residence.