According to Get Golden Visa’s American Exodus Re-Visit in 2024, many Americans are drawn abroad by lower living costs and a more reliable, pension-based lifestyle as a part of their retirement planning. With this in mind, we have compiled the top 10 European countries for Americans considering retirement overseas.

Factors American Retirees Consider Before Moving to Europe

For an American retiree, deciding where to relocate in Europe involves considering several key factors. These include:

  • English-Speaking Density: Eurobarometer states that nearly half of the EU population speaks English. However, this density is mostly located in urban areas. Therefore, the US retirees must consider both the country and the city they wish to live in.

  • Affordable Cost of Living: What American retirees are mostly complaining about is that covering their basic living costs is getting harder each day. As most of them depend on their passive income (pension, rental income, or savings), they look for affordable countries to spend their retirement years.

  • High Quality Healthcare: The dissatisfaction with the US healthcare system leads retirees to find a better place where they can experience higher quality healthcare. With this picture in their mind, they go to the European countries, which stand out with affordable public and private healthcare.

  • Economic Stability: The fluctuations in the US economy have strengthened the idea of moving out of the US. With the higher financial insecurity levels, retirees now prefer to move to Europe for a more stable economy.

Top 10 Places to Retire in Europe as an American

1. Portugal

As one of the safest countries in Europe, Portugal is becoming a hot spot for American retirees. Mainly, the country offers low costs with a high quality of living. While a family of four can cover their basic life expenses with €3,621.2 in the US, they can spend only 2,416.3€ in Portugal.


The weather is mostly 300+ days, allowing retirees to enjoy the laid-back lifestyle of Portuguese culture. Plus, there are many outdoor activities retirees can join. These are hiking, golfing, sailing, and cycling.


The healthcare system is also another factor that makes Portugal an attractive spot. It provides both public and private healthcare systems at affordable costs with high-quality. However, to benefit from public healthcare, you must get a residency in the country. You can get it through a D7 visa by proving a minimum income of €820 per month. If you successfully grant your D7 visa, you will receive a 1-year visa duration.


If you aim to stay longer than that, it is best practice to choose the Portugal Golden Visa route. By making a fund investment starting from €500,000, you can get a 5-year residency in Portugal. After 5 years, you might be eligible to apply for permanent residency and even citizenship by complying with the legal requirements.

2. Spain

With its rich cultural heritage, Spain is home to over 41,000 American citizens. The reasons behind this statistic are quite simple: low cost of living accompanied by high quality of life. Here, you can cover your basic life expenses for around €2,552.30 for a family of four. Rental prices are also quite affordable; you can expect to pay around €1,437.29 per month for a three-bedroom apartment in a city center.


Moreover, healthcare is quite affordable, with both public and private systems. However, you must register for the Social Security system or get private health insurance. To register for the Social Security System, you can get a residency through a Non-Lucrative Visa in Spain with a monthly income of €2,400. This visa will allow you to stay in Spain for one year and include your family members.

3. Ireland

Ireland is also one of the favourite places American retirees wish to retire. As its official language is English, many retirees will easily adapt to life here. What makes here unique is its connection to nature. You can visit the botanical gardens, join boat trips, and take short nature walks around places like the Cliffs of Moher, Killarney National Park trails, and Glendalough Valley.


The country can be expensive compared to other European countries, but it has lower costs compared to the USA. At this point, it is best to move to Ireland’s smaller towns rather than urban cities.


Plus, you can benefit from both public and private healthcare systems here by getting a residency or private health insurance. To get a residency, you can apply for an Irish Retirement Visa by showing €50,000 per year.

4. Greece

Living in Greece can provide the US retirees with relaxation, culture, history, and beautiful landscapes. For stunning views and a slow-paced lifestyle, you can opt for Santorini, Mykonos, Crete, and Rhodes. Here, you can explore the beauty of gentle swims and sunbathing. For city life, you can go to Athens, Thessaloniki, and Rhodes. You can taste the coffee culture, take gentle walks around the streets, and even take a spa.

There is also historical richness that makes life here unique. You can visit archaeological sites and museums. These include the Acropolis in Athens, Delphi, Olympia, and the Knossos Palace.


To grant residency in Greece, you can initially go for the Greece Retirement Visa (FIP) by showing an income of €2,500 per month. This visa allows you to stay in Greece for a year and includes your family members. On the other hand, you can go for Greece Golden Visa. By buying a property starting from €250,000, you can get residency for 5 years with a chance to include your family members.

5. Cyprus

Cyprus is located in the Eastern Mediterranean Sea, a beautiful island with turquoise waters. It is divided into the Republic of Cyprus in the south and the Turkish Republic of Northern Cyprus in the north. Therefore, you can witness Greek and Turkish influences and ancient ruins.


Living costs are one of the lowest compared to many Mediterranean countries. While retiring in here, you can expect to pay €3,092.7 for a family of four. Healthcare is also affordable, and many healthcare professionals know how to speak English.


Although there is no specific retirement visa for Cyprus, you can go for the Cyprus Golden Visa by investing a real estate or other available options starting from €300,000.

6. Italy

Italy is a perfect place to experience the sweetness of doing nothing in your retirement years. As a retiree, you can walk down the ancient streets and visit the museums. Thanks to its cuisine, you can maintain a healthier lifestyle. Additionally, you can benefit from the Mediterranean climate that will warm you.


You can reside in Italy by getting a residence permit. Initially, you can think of getting an Italian Elective Residence Visa through a minimum income of €31,000 per year. If you want to add additional family members, the minimum income amount will increase by 20% per dependent.


Another strategic option is going for the Italian Golden Visa. Through a qualifying investment amount starting from €250,000. You can get a residence permit for two years, which is extendable three times.

7. Malta

Among the best English-speaking countries to live in, Malta stands out with its idyllic island life. You can travel around the three main islands: Malta, Gozo, and Comino. You can visit dramatic cliffs and visit famous harbours like Grand Harbour. Plus, you can enjoy swimming in the clear blue waters of Malta while spending your golden years.


To live here, you can consider applying for the Malta Permanent Residence Programme (MRPR) by making a qualifying investment of at least €600,000.

8. Hungary

Located in Central Europe, Hungary offers US retirees a low cost of living, excellent healthcare services, and a vibrant culture. Here, you can visit the famous Danube River and Lake Balaton, which is one of the largest lakes in Europe. Thanks to its rich history, you can also take a look at the Buda Castle, Parliament Building, and Matthias Church, as well as enjoy the thermal baths.


To get residency here, retirees can go for the Hungarian Golden Visa through a qualifying investment starting from €250,000. Once granted, it will give you a 10-year residency, with a chance to renew and family inclusion.

9. Finland

In Finland, retirees can expect to see nothing but the beauty of nature. Especially if you are a nature lover, you will likely fall in love with its vast forest, lakes, and magical Northern Lights. However, there is also a space for city life. You can go to Helsinki for its modernist architecture and charming towns.


If you wish to retire here, you can apply for a residence permit by showing a sufficient amount of income and other grounds.

10. Latvia

Although often disregarded, Latvia stands out with its harmonic atmosphere and culture as a hidden treasure in Europe. Here, you can enjoy the dense forests, lakes, rivers, and the beautiful Baltic coastline. If you favor city life over nature, you can also look for Riga, which is famous for its Art Nouveau architecture and medieval Old Town.


Despite the lack of a retirement visa, you can go for the Latvia Golden Visa with a minimum investment amount of €50,000. You can include your family members, but keep in mind that there will be additional fees. Once you complete your application successfully, you can benefit from a 5-year residence permit with an opportunity to extend it.


Closing Remarks

From the sunny weather of Portugal to Latvia’s cold climate, top retirement destinations have the same common features: affordable basic life expenses, high quality of life, and excellent healthcare systems with both public and private.


Meanwhile, finding the best retirement spot to reside can change depending on your life expectancy and ease of obtaining a residence permit. That’s where Get Golden Visa comes in. Our expert team can identify your priorities and offer you the most suitable residency-by-investment or citizenship-by-investment programs across Europe. To reach us, please send an email to info@getgoldenvisa.com.