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FULL PENSION (Part 1)
FAVORABLE MALTA
Malta – one of the smallest and most densely populated countries in the world – occupies an area of just over 300 square kilometers with a population of 400 thousand people. For many residents of this Southern European island, English is their native language, and it's only a three-hour flight from London, so it's not surprising that the British have taken a liking to this place – over five thousand UK citizens live on the island.
Here, British pensioners feel at home (British shops are everywhere) and even better. In Malta, unlike the UK, it is very sunny, and the average annual temperature is +18 degrees. An additional advantage is the 'Malta Pension Plan', under which the income tax for EU citizens who have obtained residence in Malta is only 15%, compared to 30-40% in the US and Europe.
In the local dialect, 'malta' means 'honey', and pensioners indeed flock here like bees. This is not accidental: the healthcare system is excellently organized (according to WHO estimates, Malta ranks fifth in the world in this indicator), and all citizens of the country receive free medical care. Moreover, under the agreement on mutual support in healthcare between Malta and the UK, Britons can expect the same conditions.
The rich history and beautiful architecture of this picturesque island are also accessible to all. According to the website Numbeo.com, renting a three-room apartment in the capital of Malta, Valletta, costs 700 euros, and a three-course dinner for two at a mid-range restaurant costs only 50 euros.
BEACH PORTUGAL
Portugal attracts tourists with many charming fishing villages, medieval towns, beaches and golf courses. Foreigners have settled here for a long time, so many speak English.
The capital of Portugal, Lisbon, is one of the oldest cities in the world, famous for its wonderful Mediterranean climate. But pensioners coming to Portugal mostly settle on the Atlantic coast in the Algarve with its azure waters, sunny weather all year round, and average air temperatures from +12 degrees in January to +24 in July.
Whichever part of the country pensioners choose, they are guaranteed a preferential tax regime. Under the system for non-resident citizens, income received abroad may be tax-free for up to ten years.
Outside the most luxurious resort towns of Portugal, such as Quinta do Lago or Vilamoura, housing prices are set at reasonable levels. Prices for one-bedroom apartments in the popular resort of Albufeira, according to the real estate website Rightmove.com, start at 60 thousand euros.
In the WHO world ranking, Portugal's healthcare system ranks 12th.
TROPICAL THAILAND
Low cost of living, no taxes on pension income earned abroad, tropical climate, and a culture of respect for the elderly – what more could a pensioner want from life in a state called the 'Land of Smiles'?
Living there, according to International Living magazine, is indeed very inexpensive. In the magazine's comparative cost of living index, Thailand ranked second for cheapness – for example, a luxurious two-bedroom apartment with great views can be rented for less than 40,000 baht ($1,200) per month, and a dish of traditional Thai rice noodles costs just one dollar.
A one-year retirement visa is issued to those who receive a monthly pension of 65,000 baht ($2,000) or place a deposit of 800,000 baht ($24,000) in a Thai bank.
Budgets must include costs for local health insurance. Although the British Foreign and Commonwealth Office rates many private clinics as meeting Western standards, the International Living group notes that local hospitals vary in quality of medical care.
CULTURAL BELIZE
Belize is the only Latin American country whose official language is English, so more and more pensioners are coming here, charmed by swaying palm trees and white sandy beaches.
The country's population is only 350 thousand people, but the number of eco-tourists attracted by tropical forests, traces of the Maya civilization, and the largest barrier reef in the Western Hemisphere is constantly growing.
For pensioners, there is an additional advantage in the form of a special retirement program that offers a number of tax benefits, including exemption from import duties on certain household items such as a car or yacht, as well as from taxes on income, including investment income, earned outside Belize. The program applies to people over 45 years of age with a monthly income of at least two thousand dollars.
Real estate prices are lower than in the US, but not as low as in other Central American countries. It is rumored that Hollywood actor Leonardo DiCaprio recently bought an islet west of the largest island of the Belizean archipelago, Ambergris Caye, for $1.75 million. But still, buying property in Belize is relatively easy – the contract is in English, and local laws are based on the British system, which protects buyers' interests.
There are inexpensive private clinics in Belize that offer quality medical care, but for complex procedures many foreigners prefer to travel to the US – insurance often covers the cost of the flight.