It’s never too late to obtain a second citizenship.
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Dobrina Zhekova is a freelance writer with over a decade of editorial experience in Europe and the U.S. She covers luxury travel, art, architecture, and design. Her writing has appeared on InStyle.com, Vogue.com, Elle.com, and more.
Published on February 27, 2024
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Retiring abroad is a popular choice among seniors seeking new cultural experiences and a better lifestyle at a lower cost. However, relocating to a different country also presents challenges, such as establishing legal residence or citizenship, which can take years and is usually subject to many requirements. That said, as living and working abroad has gained popularity in recent years, certain countries have made it easier for senior expats to settle in.
Financial website Insider Monkey recently published a list of the easiest countries to immigrate as a retiree based on factors like income and age requirements, minimum period spent in the country, and time to citizenship.The winner is Argentina, where seniors can apply for citizenship only after two years of residency.
“Argentina’s Pensionado visa offers one of the easiest routes for retirees to gain citizenship in this country. This renewable one-year residency permit requires proof of an outside source of income amounting to five times the Argentinean minimum wage, which is about $500,” the website notes. Additionally, there are no minimum age requirements; however, citizenship applicants must spend at least 180 days out of the year in the country.
Second on the list is Bulgaria. The small East European country north of Greece and Turkey, which has been an EU member state since 2007, offers an abundance of natural sights and experiences and is home to several winter resorts and beach towns along its Black Sea coastline. It takes about five to six years to receive citizenship in Bulgaria, and you would need to spend 30 months, or two and a half years, in the country in the span of five years.
“Catering to more than 60,000 expats, Bulgaria is one of the countries that provides easy citizenship for retirement as well. The program requires individuals to demonstrate the ability to support themselves with a monthly income of $500,” Insider Monkey points out.
And the third spot goes to Colombia, which was also recently highlighted as the most affordable country to retire in 2024. Here, the minimum monthly income requirement is $700, and you would need to live here at least six months out of the year for five years to be eligible for citizenship. Another important factor is that seniors above 65 are exempt from the country’s language and civics exam, which is usually required.
Portugal and the Philipines are fourth and fifth, respectively. For Portugal, Insider Monkey notes that residents must “demonstrate sufficient recurring income or savings, and adds that “proof of accommodation in the country and health insurance are also additional requirements.”
You can see the full list at insidermonkey.com.
