UK Expats | Top 5 Countries To Retire In

After a lifetime of working in the UK, many Brits are choosing to spend their golden years abroad, with an estimated 1 million UK pensioners now living outside of the UK.

Are you planning on retiring overseas? Somewhere with a warmer climate, exciting culture or even just a relaxing lifestyle? There are so many destinations around the world to choose from, each with their own draws and potential obstacles such as visa requirements and tax obligations.

Our guide will explore the top 5 retirement destinations for British citizens, based on criteria including living standards, lifestyle benefits, healthcare and ease of obtaining visas or residency.

01 Portugal

Portugal has long been favoured as a top destination for UK retirees. With low crime rates, friendly locals, and sunny weather, it's no surprise that this country is so often named as the best choice for expats.

From stunning coastlines, vibrant cities and charming countryside villages, there is so much to explore in Portugal, and Brits who decide to make a home here can enjoy some of the best living standards in Europe.

Integrating into life in Portugal can be easy since there are already many established communities of British expatriates. The government also offers EU-funded Portuguese lessons to help ease the language barrier.

Portugal is one of the easiest places for British people to retire abroad. Residency can be obtained under the ‘Golden Visa’ with investments starting from €250,000 (investment avenues vary so seek advice from a professional). Another option is the D7 visa, which requires a monthly passive income of at least €820 (which may come from pension payments).

02 Spain

Spain is possibly the most popular choice for Brits retiring abroad, with an estimated 750,000 UK expats already living in the Spanish sunshine.

The warm weather, and relaxed way of life is exactly what so many seek in retirement, whilst the rich and vibrant culture and diverse cities offer much to discover for UK expats.

Spain has a much lower cost of living compared to the UK, so your retirement funds will go further here, and with its proximity to the UK and affordable flight options, you’ll be able to visit loved ones back home regularly.

Whilst you may face a language barrier, English is widely spoken in many parts of Spain, especially the hotspots popular with British retirees.

Similarly to Portugal, Spain is a relatively easy option for Brits when it comes to visa requirements. As of 2024, Spain offers a ‘Golden Visa’ option for non-EU nationals who can make a minimum investment of €500,000 in either real estate, business or bank deposits. Another option is the ‘Non-lucrative Visa’ which is ideal for individuals receiving a passive income such as pension payments. This Visa requires a monthly income of €2,400 or €29,000 annually.

Spain can be a favourable environment for those wishing to remain tax efficient. Speak to a financial adviser to discuss your options when it comes to moving your pension or investing in Spain.

03 France

Just a short trip across the channel, France is a favoured destination for Brits seeking a relaxing and fulfilling retirement. It’s estimated that approximately 50,000 British retirees are now calling this country home.

Known for its high living standards, France has a culture of enjoying the fullness of life. With world renowned food and wine, a rich cultural heritage and stunning scenery to explore, you’ll never be stuck for things to see and do here.

France has one of the best healthcare systems in the world, and a great lifestyle for pensioners, although you may struggle to integrate if you don’t speak French.

If you are planning on investing in property in your retirement, France has one of the most stable property markets in Europe, and now is a great time to take advantage of lower property prices and reduced interest rates.

France offers a retirement visa which is valid for 10 years (this is renewable), and the process is fairly straightforward. Applicants must demonstrate a minimum monthly income of €1,766.92 before tax.

One important aspect to consider if you’re thinking of a move to France is how much you may be taxed. French tax obligations for residents can add up, with social charges being taken as well as income tax. Consult with a financial adviser to ensure your move is as tax efficient as possible.

04 Canada

Praised for having one of the best standards of living in the world, Canada is a dream destination for many British expats. The second largest country in the world boasts incredible landscapes and stunning natural wonders, making this a great choice for nature lovers and those who are wanting to enjoy some adventure in retirement.

The country is safe, clean and has a well-developed infrastructure and an efficient healthcare system. Canada shares cultural similarities with the UK and is known to have friendly and welcoming locals. English is the first language for most Canadians (apart from those living in French-speaking Quebec), so integrating into a new life here could be a breeze.

Unfortunately, Canada does not currently offer a retirement visa for UK nationals, so moving there long- term could be difficult, unless you have relatives living there who could sponsor you.

However, the Canadian Startup Visa could be an option for skilled individuals who can set up a business in the country. If you are still working and meet the eligibility criteria, this is an avenue to gaining permanent residency in Canada.

05 Australia

It may be all the way on the other side of the world, but Australia is already a home away from home for many UK nationals. It’s no surprise that over 200,000 British retirees are estimated to be living in Australia- with its beautiful beaches, warm weather and friendly locals. There is so much to explore in this vast country, from mountains to jungles, bustling cities to laid back beach towns.

If you choose to retire here, you can be sure of a high quality of life. Australia is known for its safety, relaxed lifestyle, great healthcare and great food. In fact, in 2024 it made the top 10 list for the World Happiness Report.

Similarly to Canada, this commonwealth country is English speaking and shares many similarities with the UK, as well as having established communities of British Expats.

Be aware that all of this does come at a price- the cost of living here is much higher than in the UK, so make sure to research and budget accordingly.

Whilst Australia closed its Retirement Visa programme to new applicants in 2023, there may be other avenues such as the Business Visa or Parent Visa if you wish to gain residency in Australia. Speak to an adviser to discover your options.

Advice For British Expats Retiring Abroad

Wherever you decide to spend your retirement, it’s important to be sure that your money is protected, and your move is as tax – efficient as possible.

The Wealth Genesis has assisted British clients all over the world as they start a new life abroad. Book a free discovery call today using the diary below to find out how we can help secure your international retirement.