If you are looking to retire somewhere with a low cost of living and a safe environment, these 12 countries offer that magic combination. Each of them can ensure you will live a life like a king or queen. Take a tour and see if any of them catches your fancy!
1. Malaysia
Average Monthly Rent: $396.59
Cost of Living Index: 39.38
The Cost of Living Index of New York City is 100. If a nation has an index of 60, it means that consumer goods there cost 40% less than in N.Y.C.
Global Peace Index: 16/163
This index ranks 163 nations according to peacefulness. The smaller the index, the safer the country is.
Malaysia, with its tourism motto “Truly Asia,” is regarded as one of the gems of Southeast Asia. It boasts exotic beaches, one-of-a-kind architecture and some of the best geological features in the world for exploration. English is known as the "unofficial first language" in this country, so you don't even have to learn another language here if you don't want to. Besides, foreigners can get a 10-year social visit pass through the Malaysia My Second Home program.
2. Portugal
Average Monthly Rent: $817.64
Cost of Living Index: 50.39
Global Peace Index: 3/163
Portugal is ranked the 3rd on the Global Peace Index, making it one of the safest countries in the world. Plus, its sandy beaches and warm climate along with its famous port wine will offer you a refreshing life in your golden years. Moreover, a couple can live comfortably here on a mere $1,500 per month. To retire in Portugal, you need to apply to a local consular officer for a Type 1 permit by providing proof of financial ability and pass a criminal background check.
3. Czech Republic
Average Monthly Rent: $627.77
Cost of Living Index: 45.12
Global Peace Index: 11/163
The Czech Republic is known as the castle capital of the world. It has more than 2,000 castles across the country, including Prague Castle, the largest medieval castle in Europe. There are also 20 romantic UNESCO sites for you to explore here. While permanent residency is normally reserved for former Czech citizens or for humanitarian reasons, you can still apply for long-term visas.
4. Chile
Average Monthly Rent: $585.25
Cost of Living Index: 59,25
Global Peace Index: 27/163
More and more retirees from around the world are calling Chile home due to its high standard of living and low cost of living, breathtaking scenery and welcoming locals. For about $1,000 a month, you’ll be able to cover housing and basic expenses anywhere in the country. Spend a little more, and you can travel the land to your heart’s content. To retire to Chile, you'll need a regular tourist visa and then change it to a retirement visa.
5. Sri Lanka
Average Monthly Rent: $300.95
Cost of Living Index: 30.24
Global Peace Index: 72/163
If you are on a tight budget and wish to live the luxurious lifestyle like a king, then Sri Lanka is an ideal choice. A cost of living less than one third of that in New York makes Sri Lanka one of the cheapest countries in which to retire. What’s more, it has a moderately warm climate throughout the year, a variety of gastronomical delights, and world-class medical facilities in addition to stunning seaside scenery. For people aged 55 and above, the country offers a two-year renewable visa called the "My Dream House" visa which requires a $15,000 deposit and a monthly income of at least $1,500.
