5 Best Places That You Can Move to And Start Life as An Expat

After slogging your whole life, are you looking for a place where you can retire to and live life at a leisurely pace? If yes then you must weigh your options carefully before making the move to another country. Tax structure, policies for expats and many other things must be taken into account to check whether the place you are thinking of moving to is suitable or not. Most countries are opening up their borders and relaxing stringent laws so that they can attract more expats.

Here are the top five expat places in 2021.

1. Italy

Since January 2019, the government of Italy has introduced a 7% flat tax for non-citizens who get their pension from outside Italy. Such persons can move to the thinly populated areas of Abruzzo, Molise, Apalia, Campania and many others.

Under this Italy expat retirement scheme, all incomes made in foreign lands are taxed only at 7% including income from properties, interests and dividends, pensions and any other sources. But this does not cover any new incomes made in Italy after moving there. This flat tax offer along with the other natural and historic charms that Italy has on offer is the reason why it is one of the best expat places in 2021.

To learn more about this check this article about Italy as expat retirement’s base.

2. Portugal

It has been named the second safest country in Europe and the natural wonders added to the rich cultural heritage of the country make it a haven for expats who want to retire and live life at a slower pace. The low crime rates just add to the overall charm of the nation. It is no wonder that Portugal is one of the most favoured expat places in 2021. From beautiful beaches to an exciting night life, Portugal has many delights on offer.

3. Vietnam

In Southeast Asia, Vietnam is one of the fastest growing economies. It is a modern country with a relatively low cost of living for expats. It is conveniently located so it leaves scope for a lot of travel to explore the surrounding areas. The cost of living is low so you can live a very comfortable life by spending a lot less money. But the country has not compromised on facilities like healthcare and other necessities so you won’t be left lacking for anything.

4. Panama

A low tax burden, a largely English-speaking population, well connected through airways and waterways are just some of the advantages of moving to Panama after retiring. Tax for income earned outside Panama is almost negligible so if you are getting pension from another country while living in Panama the amount of tax you will be paying is almost nil. Panama City is quite lively and has a host of activities for its residents so you will never be bored if you decide to retire there and have a lot of free time on your hands. This is why Panama is one of the most preferred expat places in 2021.

5. Costa Rica

Low cost of living, affordable but high-quality healthcare, cheap real estate, tropical climate, white sand beaches - sounds like heaven, right? That is exactly what Costa Rica feels like to most expats who have moved there after retiring from their hectic jobs and fast-paced city lives. Add a progressive government and nominal tax rates to all this and you will stop wondering why Costa Rica is a favourite with expats.

To Conclude

Everyone wants to slow down the pace of their life once they have retired. But moving to a different country takes careful consideration and a lot of factors contribute to the decision about where to move. Natural beauty, cultural heritage, healthcare facilities, connectivity to other areas, cost of living, tax laws, crime rates are some of the factors that must be considered before you pick the place where you can move to after retiring.