Expats: The ‘best’ country to retire in – how to pick the right destination for YOU

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An estimated 5.5 million British expats currently live overseas, with vast swathes of the nation choosing retirement as the perfect time to try life elsewhere. But how they decide where to move can depend on a number of different reasons.

Earlier this year, experts from Global Citizen Solutions unveiled their Global Passport Index for 2021.

The purpose of the Index is to show the perks and opportunities of different countries around the world. Among its many uses, the experts behind the ranking believe this could be crucial in helping people to measure prospective international homes.

Patricia Casaburi, managing director at Global Citizen Solutions spoke to Express.co.uk to share how expats can decide where is right for them and which nations she thinks could hold the best prospects, based on the Index.

Of course, naming the ‘best’ country for retirees depends largely on what you prioritise.

She explained: “Our passport index has been built from the ground up with three different metrics in mind, each pulling from hundreds if not thousands of data sources to allow for a far deeper understanding of the different needs of different people.”

Of these, she says retirees should consider the quality of life a nation can offer to them, as well as any potential investment opportunities that could be on offer.

Quality of living, says the expert, focuses on “aspects that enhance the attractiveness of countries as a primary place of residence for retirees, while taking into account the cost of living”.

This can also include elements such as the weather, things to do, and even local communities of other expats.

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Based on the Global Passport Index’s data, nations that come out on top for their quality of life offering include Sweden, Finland, Denmark, Canada and Germany.

However, Ms Casaburi points out that you may want to consider financial freedom and opportunities – particularly in retirement.

She said: “If you want to stretch your pension for a certain number of years, then our investment index will provide information on the level of personal taxation a country would offer.”

According to the Global Passport Index, nations offering the best opportunities for potential investors are Singapore, Hong Kong, Macao, the US, and the United Arab Emirates.

Mobility is also a prominent factor in picking a future home – especially for those who want to visit home regularly or spend their retirement years exploring the wider world.

Good accessibility to the UK is a leading factor in the regions Britons choose to relocate.

This is perhaps why of the 1.24 million Brits in Europe, British in Europe estimate that around 200 – 250,000 are retired.

Spain ranks as the second-best country for enhanced mobility, according to the Passport Index.

Finland, Germany, Singapore and the United Arab Emirates also make the top five best places for travel opportunities.

With Britons solely in mind, though, Ms Casaburi suggests one European nation in particularly may provide the best retirement opportunities.

She said: “Depending on your walk of life, a retirement in Portugal, with their non-residential habitual scheme, could give you tax benefits, whilst good mobility in the world and great quality of life with low cost of living.”

Ultimately, Ms Casaburi said the key to deciding where to move “depends on what one prioritises for their retirement”.

She added: “There is no one-size-fits-all glove when planning your future.”

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