/Portugal: top retirement location for American citizens

Portugal: top retirement location for American citizens

Forbes magazine has listed Portugal as one of the best places for American citizens to look for a retirement destination. The list has been highlighted by Portugal Resident in late April and is not presented as a ranking, but as an alphabetic list where countries included got a good evaluation in the following points:

– Cost of living vs the US

– Gaining residency

– Medical quality cost vs the US

– Climate

The prestige magazine considered the Portuguese cost of living lower than the American one and that it is easy to get residency as a foreigner. Medical quality was deemed as “good and cheaper” than in the US and the climate, of course, was considered to be warm – probably like it would be in Southern California.

Avoiding double taxation

Portugal was highlighted as having the special advantage of a treaty with the United States to avoid double taxation to expats. That has been a proactive policy of the Portuguese authorities to attract foreign investment.

According to Portugal Resident, Forbes also highlighted the fact that there are “no significant language barriers” for American expats in Portugal, as there is a considerable percentage of people able to speak English. The low crime rate is also a strong point for choosing Portugal as a place for retirement.

Forbes also included “specific suggestions” of places to retire in each country. Unsurprisingly, Lisbon and the Algarve were picked up for Portugal. The southern region has an advantage regarding the capital: unlike the Humberto Delgado/LIS airport, the Airport of Faro/FAO is not deemed to be on full capacity for the upcoming years.

Other countries included

Spain, France, Italy, Croatia and Malta are the other European Union members included in this list, each of them with its unique characteristics. The list also includes several countries throughout Central and South America, one in Asia (Malaysia) and both Australia and New Zealand.