6 Countries That Make Retiring Abroad (Relatively) Easy

If you have money to invest, Greece may be the retirement spot for you. Since 2013, this European country has offered its Greece Golden Visa, granting five-year permanent residency to anyone investing approximately $271,562 or more in local real estate. After five years you can then renew your residency (as long as you’re still invested in local property), and you can apply for citizenship after seven.

To make things more enticing, Greece’s Ministry of Finance proposed a 7% flat tax in 2020 for any foreign nationals willing to transfer their tax residence (meaning the place where you’re legally required to pay taxes) here. This means that any pensions, rental income, and other transferable investments will stay at a 7% tax rate for up to 15 years. With tax brackets in the US typically ranging from 10 to 37%, it’s a steal.

Requirements: There's no requirement to invest in local real estate to take advantage of the tax rate, nor are you expected to permanently reside in Greece. Still, the overall goal is to bring in foreign dollars, so government officials hope you’ll spend accordingly. Anyone interested in utilizing Greece’s flat tax can take advantage, no matter their age. To qualify for a tax transfer, however, you can’t have paid taxes in Greece over any of the last five years. Also, the country or nation where you’re transferring your tax residence from must already have a tax agreement with Greece; the US income tax treaty with Greece qualifies, and means you won't be paying income taxes twice.