Ali Hussain
Fri, August 7, 2026 at 8:35 PM UTC
Fact checked by Vikki Velasquez
Key Takeaways
Europe offers a wide range of retirement options, from affordable Mediterranean countries to Nordic nations known for extensive public services
Visa pathways, healthcare access and tax agreements are often the biggest factors Americans must consider before moving abroad
Countries with high English proficiency and established expat communities may make it easier to adjust to life abroad
Retiring abroad is becoming more common for Americans. While many already live overseas, some look to Europe for lifestyle advantages, including walkable cities, reliable and affordable healthcare, ease of travel within countries, and rich cultural history. Choosing the right location depends on practical considerations, such as language, visa pathways, healthcare, tax treaties and quality of life
Southern Europe tends to suit those looking for warmer climates and a better cost profile, while northern Europe works for those seeking better infrastructure and public services, which often come at a higher price. Here are Investopedia’s top 12 European countries to consider for retiring abroad
Austria
Austria offers a refined Central European setting with high living standards and a well-preserved cultural heritage. Vienna and Salzburg consistently rank high on “best cities to live” lists, including Investopedia’s. Strong public transportation, safety and culture make these cities desirable
While German is Austria’s official language, English is widely spoken, with Austria ranking highly in English proficiency. The country ranks highest on our list of international retirement locations for English proficiency, as well as for the expat community as a percentage of the total population
The best way to become a resident is through independent income or investment. And while healthcare is strong and there are public and private options, the one drawback is cost. Austria is a moderately expensive country and not the most affordable option in Europe
Belgium
Belgium’s location provides easy access to France, Germany and the Netherlands, with its rail system making travel straightforward. English is widely spoken, particularly in the larger cities, like Brussels and Antwerp
Retirees will need to apply for a long-stay resident permit, which would include showing financial means and health insurance. The healthcare system is also strong in Belgium, supported by mandatory healthcare coverage. Tax rates are high in Belgium, especially when compared to central and southern Europe
Denmark
Denmark is always highly ranked in lists of the world’s happiest countries, generally attributed to its strong social safety nets and public services. It also ranks highly in Europe for English proficiency, making it easier to adapt
To achieve residency, you’d have to show that you are financially self-sufficient or have family connections. While the cost of living and taxes are high, you benefit from universal healthcare and other strong social services. Denmark’s capital, Copenhagen, is known for its excellent infrastructure, including walkability and cycling
Finland
Finland ranks highly for safety and security and is also among the happiest places in the world, thanks to its strong social support systems, public services, and high quality of life
Healthcare is available to all through the subsidized public healthcare system. If you’re worried about taxes, the country has a tax treaty with the U.S. that prevents double taxation on retirement income. While these benefits help in retirement, the one drawback is Finland’s climate. Winters are long with few hours of daylight, which can greatly impact mood and outdoor activities
Germany
Germany is the largest economy in Europe. It offers strong infrastructure (the highest on our list), public services, and solid healthcare. Americans can usually live in the country through residence permits related to financial independence or family reunification
Germany ranks highly for English proficiency, especially in larger cities like Berlin and Hamburg. The country has a tax treaty with the U.S. to avoid double taxation. Winters in Germany can also be difficult, with shorter daylight hours and grey weather, particularly in the north
Greece
One of Greece’s main draws is its Mediterranean lifestyle, which includes access to the sea and warm weather. Greece is also an affordable option for retirees. In fact, the average cost of living in Greece is about half that of the U.S. In our list of international retirement locations, Greece scores extremely high on the rent index and local purchasing power
There are a few options for residency, including property-based investment visas and financial independence permits. Greece also has a special tax setup that allows some foreign retirees to pay a flat tax on retirement income. English is also widely spoken in many of the tourist areas and larger cities, making it easier to adjust
Greece offers the Financially Independent Person (FIP) visa, which requires a specific monthly income from a passive source
Ireland
As an English-speaking nation, Ireland is an easier transition for Americans than many other countries on this list. Additionally, the countries have had strong historical cultural ties, and citizenship is available to many with Irish ancestry
Residency in Ireland is based on a stamp program, with each stamp defining the conditions of your stay, such as your right to work, study, or live in the country. The country offers public and private health insurance, like most European countries, so foreigners have options
One of the main drawbacks for Ireland is housing costs, though mainly in Dublin, which is one of the more expensive cities in the category in Europe. However, on our list of international places to retire, Ireland ranks the highest on the Global Peace Index, which means it is one of the safest and most secure locations. It also has the second-highest expat community as a percentage of total population on our list
Italy
Italy has a lot to offer. From the sea to beautiful landscapes, cities such as Rome and Florence are rich with history and great cuisine. Regions like Tuscany, Sicily, and Puglia are popular with foreigners
The country has an elective residence visa for individuals who can show passive income and healthcare through the nation’s national health system. Living costs vary widely depending on the region. The north tends to be more expensive, while the south is more affordable
Norway
Norway consistently ranks highly for quality of life, healthcare, and financial stability. The country is known for its excellent healthcare, which is publicly funded, and strong infrastructure
Residency requirements are tougher than in southern Europe, with the need to demonstrate significant financial remost expensive countries in Europe. On our list of international retirement locations, it scores the lowest on the grocery index
Portugal
Portugal is one of the most popular places for tourism amongst Americans, as well as one of the most considered places for retirement. The D7 visa allows people with passive income to apply for residency, and the financial threshold is below that of many other European countries
The country has tax agreements with the U.S. to prevent double taxation, healthcare is accessible, and the country is relatively affordable, not to mention its wonderful weather and coasts on the Atlantic Ocean. English is widely spoken in tourist areas and the major cities. The country is also very affordable, ranking highly on our list for local purchasing power
Spain
Spain is known for its beautiful weather, stunning cities, excellent food culture, and strong healthcare, all of which make it an attractive option for retirees. The country offers a non-lucrative visa, which allows for residency for those with a solid financial profile
The cost of living is significantly lower than that of the U.S., and its healthcare system is consistently ranked as one of the best in the world
Sweden
Sweden has great healthcare access, environmental quality, and public infrastructure. English is widely spoken throughout the country. Resident requirements usually include proof of financial stability and health insurance
Taxes and the cost of living are high when compared to southern Europe, but the country’s strong public services, cleanliness and safety make it a popular choice. As with all the Nordic countries, the climate is a drawback. While summers are pleasant, winters are long and dark
Best International Places to Retire Methodology
To create the list of winners above for our Best International Places to Retire, Investopedia’s researchers conducted competitive analysis and general research across the internet to identify 40 countries to conduct comprehensive research. We then broke down those countries into three regions: Europe, Asia Pacific, and the Americas
Each country was evaluated based on many important overarching factors, including affordability, visas and benefits, and health care. Each of these categories had individual criteria, which we gathered data on. We gathered information from individual country government websites as well as intergovernmental organizations such as the World Health Organization (WHO), World Bank, and United Nations (UN)
After scoring each country against these criteria, we combined the results into an overall score out of 100. The Investopedia editorial staff then reviewed the top 40 countries to determine which were the best according to each region’s best overall scores
Overall, the research process lasted from Jan. 30 to Feb. 9, 2026. We analyzed 38 total and 31 weighted criteria. During this process, we collected 1,520 unique data points
Data Collection and Scoring
We scored every place on a 0 to 100 point scale so that all the data could be compared easily and fairly. Any criterion with only two possible outcomes was scored as either 0 or 100. Criteria that fell along a range were scored by setting the lowest value to 0 and the highest to 100. If a criterion had several possible outcomes, we assigned each one a specific value between 0 and 100. Any data point that was not disclosed received a score of 0
Best International Places to Retire Evaluation Categories
Affordability
Affordability carries the most weight of any category in our best international places to retire rankings at 35% because it’s important that retirees have a clear picture of their cost of living in the country that they choose to retire to. While researching each country, we gathered data from places such as the Organization for Economic Co-operation and Development (OECD) as well as cost of living studies on Numbeo
We looked at metrics such as the property tax rate, mortgage as a percentage of each country’s income, local purchasing power index, rent index, grocery index, and restaurant index. Each of these criteria helps paint a picture of how much each country costs and how far incomes go by measuring everyday expenses like groceries and dining out, as well as higher costs such as mortgage payments and housing affordability
Visas and Benefits
Even though affordability is top-of-mind for retirees, being able to relocate to the country of their choice is also important. At 20% of the overall score, visas and retirement benefits reflect how straightforward it is for a retiree to stay in a country long term. We looked at official government websites to assess retirement and golden visas, as well as dual citizenship availability, visa-free duration, and whether or not each country offers specific benefits
Healthcare
Another major factor in choosing the best place to retire abroad is a country’s health care system. We evaluated access to health care and weighted it at 16% of the overall score. To find a reliable way of measuring health care between countries, we used the WHO’s International Health Regulations core capacity scores as well as the density of doctors, nurses, and dentists in each country. We also evaluated OECD life expectancy data for another measure of each country’s overall population health.
Accessibility
Besides costs, visas, and health, we measured accessibility, which was 13% of the overall score, to determine how connected each country is to the U.S., as well as how restricted each country is. We analyzed FlightConnections data to find the number of airports with direct flights to the U.S. in each country. We also evaluated the World Bank’s Logistics Performance Index to determine how strong the overall infrastructure is.
Additionally, we incorporated data from the UN on the total expat population and the percentage of expats of the total population. We also scored EF’s English Proficiency Index to reflect the levels of how well each country reads, speaks, listens to, and writes English
Quality of Life
Another factor that retirees choose countries to live in is based on how much they feel supported with safety and being comfortable. To assess this, we weighted quality of life 11% of the overall score. We incorporated metrics such as the Global Peace Index and U.S. Department of State Travel Advisory levels to help measure safety and security in each country
We also evaluated natural disaster data from Our World In Data, which captures economic and mortality trends related to environmental disasters. Additionally, we measured the number of culturally significant historical sites from the UNESCO World Heritage List
Governance
The stability of the political climate, as well as how well the government operates in each country, is also important in some retirement decisions, as it can help in creating a better quality of life. We weighted governance at 5% of the overall score and used the World Bank’s Worldwide Governance Indicators, which measure voice and accountability, political stability, regulatory quality, and control of corruption, to measure this
The Bottom Line
Retirement in Europe can look very different depending on where you choose, with differences in climate, cuisine, English proficiency, costs, and more. Countries like Portugal, Spain, and Greece offer warmer climates and a relatively lower cost of living, while northern European countries, such as Sweden, Denmark, and Norway, come with more safety and better infrastructure. As a result, they’re more costly and also have more demanding climates, especially in winter
The choice depends on the type of lifestyle you’re looking for. Some may prioritize climate while others prioritize healthcare and infrastructure. All the countries on our list, except for Austria, offer dual citizenship. For people willing to navigate the challenges that come with moving and living abroad, Europe can provide a new adventure for their non-working years
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