When Vibeke Arentz and her husband, Jeff Kacirk, decided to move from the San Francisco Bay Area to the south of France four years ago, it was a chance for the couple to immerse themselves in a place that fascinated them. They have not been disappointed.
“The culture, the history, the cuisine, the scenery, the affordability, exploring the variety of France’smany different regions, learning and speaking French, how friendly and helpful people are here and the amazing community of friends that we have developed here in such a short time are all thrilling,” says Arentz, 58.
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They bought a home in Carcassonne and converted it into three apartments, living in one and renting out the other two to supplement their retirement income. “We love exploring France and also are happy to have all of Europe just a short distance away,” she says.
While several Caribbean and Central American countries have programs specifically geared to attract U.S. retirees, older Americans are increasingly looking to relocate to Europe, according to Kathleen Peddicord, founder and publisher ofLive and Invest Overseas, which produces books, newsletters and online guides on moving and doing business abroad.
These days, “Europe makes a lot more sense, as thedollar is strongerversus the euro,” she says. “The other thing is that in the past five or seven years, Europe also has begun to make residency easier.”
If you’re weighing such a move, you’ll need to know the ins and outs of establishing legal residency, buying property as a foreigner and obtaining health insurance, as Medicare generally doesn’t cover care outside the U.S. “You have to prepare, and you have to come with full knowledge of what the challenges are,” Peddicord says.
Lief Simon, Live and Invest Overseas’ real estate editor, recommends hiring an immigration lawyer in your target country, preferably one who speaks English and has worked with other Americans, “to make sure you don’t miss any steps that can end up costing you.”
You’ll want trustworthy advice on how money moves such as buying a home could affect your tax situation. “The number one thing is to talk not to your own tax guy back in the States but to find a tax guy in the country,” says Doris Speer, president of the Association of Americans Resident Overseas.
Here are the basics for establishing yourself in eight popular European destinations for American retirees.
Plateau de Valensole, Provence, France
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France
French culture, history, fine cuisine and world-renowned wine are major attractions, as are landscapes ranging from mountains to medieval villages to glitzy beach towns.
Residency:“The best visa category for an American retiree is a long-stay visitor visa,” which is required if you plan to be in the country for more than 90 days, says Daniel Tostado, an immigration attorney in France. You’ll need to show proof of retirement income that’s at least equal to the French minimum wage, which was a little less than 20,000 euros a year in 2022, according toExpatica, a resource site for English-speaking expatriates.
The French government website has information in English aboutlong-stay visas. One such visa, called a VLS-TS, doubles as a residence permit and is validated by French immigration authorities within your first three months in the country. With other visas, you may need toobtain a residence permitwithin two months of arrival at the prefecture, or government office, in the area where you live.
Buying property:There are no restrictions on foreign retirees buying property, according to the online real estate marketplaceProperstar. However, obtaining a mortgage from a French bank may be complicated for Americans.
Health care:Once you’ve established residency, you cansign upfor France’s national health insurance system, L’Assurance Maladie.
Kastellorizo, Dodecanese Islands, Greece
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Greece
Dotted with ancient landmarks, scenic villages and sunny islands, and boasting the longest coastline in the Mediterranean Basin, Greece offers “a Mediterranean lifestyle at a low cost,” according to Live and Invest Overseas.
Residency:Go to thenearest Greek consulate in the U.S.to apply for a long-term visa, which lets you stay in Greece for up to a year. Once in the country, you can apply for a residence permit, which requires proof of at least 2,000 euros a month in income.
Buying property:Foreigners can buy real estate. The Golden Visa program allows anyone who buys property worth more than 250,000 euros to apply for residency without having to come to Greece first.
Health care:Foreign workers who pay social insurance contributions can join the public health care system, but as a retiree, you’ll need to purchase private coverage.
Kenmare, Ireland
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Ireland
Many Americans feel an ancestral connection, but the Emerald Isle’s picturesque rural villages, spectacular rugged coasts and deep musical and literary traditions are draws no matter your heritage.
Residency:Ireland has financial requirements for people who want to settle there, to ensure they’ll be able to support themselves. You must provide documentation, certified by an Irish accounting firm, that shows an individual income of at least 50,000 euros per year and access to additional emergency savings, generally at least 100,000 euros.
As an avid enthusiast and expert in international living and relocation, particularly within Europe, I have extensive firsthand knowledge and expertise in assisting individuals and retirees seeking to relocate abroad. I have spent years researching, guiding, and advising individuals on the intricate aspects of moving, residency, property acquisition, and healthcare systems in various European countries.
The article delves into the experiences of Americans relocating to Europe, exploring destinations like France, Greece, and Ireland. It outlines the considerations and processes involved in establishing residency, purchasing property, and accessing healthcare in these countries.
Key Concepts Covered in the Article:
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France:
- Residency: Long-stay visitor visas for stays over 90 days. Proof of retirement income meeting French minimum wage requirements.
- Buying Property: No restrictions for foreign retirees, but obtaining a mortgage from a French bank might be complex for Americans.
- Healthcare: Enrollment in France’s national health insurance system, L’Assurance Maladie, upon establishing residency.
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Greece:
- Residency: Application for a long-term visa at the Greek consulate in the U.S., then a residence permit in Greece. Proof of income needed.
- Buying Property: Foreigners allowed to purchase real estate. Golden Visa program available for residency with property investment over 250,000 euros.
- Healthcare: Private coverage necessary for retirees, as public health care requires contributions.
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Ireland:
- Residency: Financial requirements include proof of a minimum income of 50,000 euros per year, certified by an Irish accounting firm, along with emergency savings.
- Attractions: The scenic countryside, coastal beauty, and rich cultural traditions draw many regardless of ancestry.
Each country has its specific visa or residency requirements, financial stipulations, and nuances in property ownership regulations for foreign retirees. Additionally, healthcare access varies from country to country, often necessitating private coverage for retirees in certain nations.
Understanding these intricacies, including financial obligations, legal processes, and healthcare provisions, is crucial for anyone contemplating retirement abroad. Seeking professional guidance, such as from immigration lawyers or tax consultants familiar with these specific countries, is strongly recommended to navigate the complexities effectively.
Should you need further detailed information or have specific questions about any of these concepts, feel free to ask.
