Quote:
Originally Posted by newnoobieee
some people say Greece is the best place to retire. Many places also good for retire. But all comes down to money, how much do you have to be able to retire? No money no retirement, work your ass off till die.
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yup Greece
portugal is the top place now.
only need passive income of at least 9120 euros a year to qualify for retirement visa (the min amount will be adjusted by inflation or min wage level every year). Their min wage is like 760 euros a month only. So things shoudnt be expensive there. Is especially attractive if you like beaches and surfing.
Beaches, as most of portugal's border is facing the sea. Surfing, as waves are pretty strong there.
Income tax rate for overseas income is a flat rate of 7%. Take is as GST...
I understand 1 of the top concerns of choosing where to retire... is the food there. Greek food sounds terrible to me.
Taxes are also another top concern. Imagine high taxes on your passive income and you are not allowed to work there (its a retirement visa, not work visa).
Spain is a very good place. good food, good culture, good weather too. But income to qualify is higher (27k euros a year for passive income) and has high taxes. Your passive income can be taxed by a min of 21%, depending on your passport and any tax treaties signed with Spain. After 5 years, you can qualify to apply for a Spanish PR.
Of course the advantage of an EU retirement visa is that you can get free access to Schengen zone countries. Got a Spanish retirement visa but dont like living in Spain? move over to Portugal anytime then (limited stay may apply per country). Or Italy, Germany, etc.
Switzerland as well, for up to 90 days per half year. Do note that Switzerland is the most expensive country in the world. A Mcdonalds meal can cost you 30 euros there.
Note that these passive income requirements, can be easily met assuming you have at least a 3 room HDB wholly rented out (before taxes, utilities and maintenance costs).