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Retiring abroad has long been a popular choice amongst British expats. Indeed, for many Brits, a slower pace of life in sunnier climates abroad may be seen as a well-earned reward after a long career in the rainy UK.
The latest data from the ONS suggests that there are around 250,000 British citizens aged 65 and over living in the EU alone - with the number of pensioners living elsewhere around the world likely to bring this figure up considerably.
With so many British expats setting their sights on other countries to retire abroad, then, it makes sense to question where exactly might offer the most for British pensioners.
Here, MoneyTransfers.com has ranked 10 of the most popular countries to retire to based on cost of living, quality of life, healthcare, safety, and ease of immigration. We’ve also included a little information on the general weather in each location, in case that sways your decision!
Our intention with this ranking is to help British expats who may be considering settling down for retirement abroad to find a genuinely helpful ranking of some of the most popular countries to retire to.
We’ve considered a number of key concerns for expats in this ranking - including the safety of each country, health care infrastructure, cost of living, and climate - to provide the ultimate list for British expats to choose from.Jonathan Merry, CEO of MoneyTransfers.com
Scroll down to the bottom of the page to see our full methodology for this ranking, which scores the overall cost of living, quality of living, healthcare infrastructure, and peace ranking of each country.
10 Best Countries for Brits to Retire Abroad: Ranked
1. Portugal
With its mild climate, affordable cost of living, and vibrant culture, Portugal has become a popular retirement destination for British expats. It ranks as the overall number one country to retire for in our index, scoring highest across all four ranking factors.
With attractive tax incentives for retirees, pensioners moving here can enjoy beautiful beaches, historic cities, and delicious cuisine for an extremely low cost compared to neighbouring countries - a huge draw for British pensioners who may be budgeting their funds.
British citizens can enter Portugal visa-free for up to 90 days in any 180-day period. To stay longer, they can apply for residency through the EU Settlement Scheme or the Golden Visa program, which requires an investment in Portuguese property or business.
2. Spain
Spain is a famously beloved destination for British retirees seeking a warm and sunny climate, beautiful scenery, and a relaxed way of life that’s not too far from home (and family).
Retirees can choose from the stunning coastlines of the Costa del Sol to the vibrant cities of Madrid and Barcelona to settle down in and enjoy a slower pace of life. Spain ranks second due to its low cost of living, excellent healthcare, and good scores for safety and overall quality of life.
British citizens can enter Spain visa-free for up to 90 days in any 180-day period. To stay longer, they can apply for residency through the EU Settlement Scheme or a non-lucrative visa program, which requires proof of sufficient income and healthcare coverage.
3. Australia
Ranking in third place, Australia is a popular retirement destination for British expats seeking a high standard of living, modern healthcare system, and beautiful scenery. Major benefits include speaking the same language, a high-quality infrastructure, plenty of recreational activities, and a wide variety of metropolitan cities, beachside towns, and everything in between.
While Australia scores extremely high for quality of life and health care in particular, the country does rank 13th overall for having the highest cost of living in the world - a factor that may not suit all retirees.
British citizens need a visa to enter Australia, which can be obtained through various programs. However, Australia is a notoriously difficult country to obtain a permanent visa for - this guide to retiring in Australia has some useful tips.
4. Canada
Canada is another top-ranking destination for British expats to retire. The shared language, safety, and high quality of living is no doubt a big draw for expats looking for new pastures without the extra stress that may come with navigating a different language in a new country.
The caveat to retiring in Canada, however, is that it can be very difficult to gain a visa that will allow you to do this, especially if you do not have any family currently living in Canada. The best way is to gain sponsorship from a family member who is already living in the country.
5. Malaysia
Malaysia ranks as the fifth best country for British expats to retire in. As a diverse and welcoming country located in Southeast Asia, Malaysia offers a warm climate, beautiful landscapes, and modern cities scoring well across the board for all ranking factors. Retirees can choose from the thriving capital of Kuala Lumpur all the way to remote sandy beaches, depending on what suits your lifestyle most.
British citizens can enter Malaysia visa-free for up to 90 days. To stay longer, they need a visa or a residency permit, which can be obtained through various programs, including the Malaysia My Second Home (MM2H) program.
6. France
France is renowned for its art, architecture, cuisine, and wine, making it a haven for culture and food lovers. What’s more, UK pensioners may appreciate being just a short flight or ferry from family and home comforts back in Britain.
Expats moving to France should be prepared for a bureaucratic and sometimes challenging visa process, but the rewards of living in this beautiful country are many. Post-Brexit, British citizens no longer have a guaranteed right to residency in France. The first step is to apply for a long-stay visitor visa in France, followed by a Carte de Séjour.
7. Costa Rica
For those seeking adventure and nature, Costa Rica offers stunning landscapes, eco-tourism, and a laid-back lifestyle. With its stable democracy and peaceful reputation, Costa Rica is a safe and welcoming country for expats. The country has a low cost of living and warm, tropical climate.
British citizens can enter Costa Rica visa-free for up to 90 days. To stay longer, they need a temporary residence permit, which can be obtained through various visa programs, including the Pensionado program for retirees.
8. Thailand
Thailand is known for its stunning beaches, delicious cuisine, and welcoming culture. With its affordable cost of living and modern healthcare system, Thailand has become a popular retirement destination for expats. However, it’s worth noting that Thailand scores lowest out of this list for safety.
British citizens can enter Thailand visa-free for up to 30 days. To stay longer, they need a visa or a visa exemption stamp, which can be obtained through various programs, including the Thailand Retirement visa.
9. Panama
Panama is a beautiful country with a warm climate, low cost of living, and modern infrastructure. Retirees can enjoy the beautiful beaches of the Pacific and Caribbean coasts, as well as the vibrant cities of Panama City and Boquete. UK retirees might want to note that Panama does have the lowest healthcare score out of the 10 countries reviewed here.
British citizens can enter Panama visa-free for up to 180 days. UK citizens can also apply on a fast track to become permanent residents, or apply for the Pensionado visa which is available to anyone with a lifetime pension (over 18).
10. Mexico
Mexico's warm climate, rich culture, and affordable cost of living make it an attractive destination for retirees. From the stunning beaches of the Yucatan Peninsula to the vibrant cities of Mexico City and Guadalajara, Mexico has something for everyone.
Although Mexico scores lowest in this ranking (mostly due to its lower safety and quality of life scores), it’s important to note that the country is overall still considered a great place to retire to. It has a plenty of options for sending money to Mexico as well.
British citizens can enter Mexico visa-free for up to 180 days. To stay longer, they need a temporary or permanent residency visa, which can be obtained through various programs, including the Temporary Resident Visa for retirees.
Methodology
The ranking factors and their sources for this chart are as follows:
Cost of Living Score & Quality of Life Score: Sourced from Numbeo.com (all figures and rankings are for 2023, bar Costa Rica’s quality of life score which was only available from mid-2022).
Healthcare Ranking: Sourced from CEOWorld’s Global Health Care Ranking
Safety Score: Sourced from Visual Humanity’s Global Peace Index
Ease of immigration and weather information was sourced from various reports and articles on each factor, and do not contribute to the official ranking of these countries.
We gave the four ranking factors (cost of living, quality of life, healthcare ranking, and safety) an equal weighting to create the overall score for each country, with a lower cost of living score contributing to a higher overall rank.
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