Retiring abroad - 5 of the best countries with tax advantages

Retiring abroad - 5 of the best countries with tax advantages

Retiring abroad can be an exciting and rewarding experience, but it's important to consider the tax implications of your move. Depending on the country you choose, you may be eligible for a favorable tax rate on your pension income. Here are five countries that offer favorable tax rates for pensioners:

Portugal: The Non-Habitual Resident (NHR) program in Portugal offers a tax rate of 10% on foreign pension income for a period of 10 years. This can be a great option for retirees looking to enjoy a lower cost of living and a relaxed, Mediterranean lifestyle. In addition to the favorable tax rate, Portugal also offers a range of other benefits for NHRs, including exemptions on foreign-sourced dividends, interests, and royalties.

Tunisia: Tunisia allows for a reduction of 80% on taxable pension income. This can be a great option for retirees looking to enjoy a warm, sunny climate and a lower cost of living. In addition to the favorable tax rate, Tunisia also offers a range of other benefits for foreign retirees, including a friendly and welcoming local culture and a rich history and cultural heritage.

Cyprus: Cyprus has a tax rate of 5% on foreign pension income. This can be a great option for retirees looking to enjoy a warm, sunny climate, a rich history and cultural heritage, and a lower cost of living. In addition to the favorable tax rate, Cyprus also offers a range of other benefits for foreign retirees, including a friendly and welcoming local culture and a range of outdoor activities and recreational opportunities.

Greece: Greece offers a tax rate of 10% on foreign pension income for a period of 10 years. This can be a great option for retirees looking to enjoy a warm, sunny climate, a rich history and cultural heritage, and a lower cost of living. In addition to the favorable tax rate, Greece also offers a range of other benefits for foreign retirees, including a rich history and cultural heritage, a range of outdoor activities and recreational opportunities, and a lower cost of living compared to other European countries.

Romania: Romania offers a tax rate of 10% on foreign pension income. This can be a great option for retirees looking to enjoy a lower cost of living and a rich history and cultural heritage. In addition to the favorable tax rate, Romania also offers a range of other benefits for foreign retirees, including a friendly and welcoming local culture, a range of outdoor activities and recreational opportunities, and a rich history and cultural heritage.

It's important to note that these tax rates and benefits may vary depending on the specific terms and conditions of each country's tax laws, and it's always advisable to seek professional tax advice before making any decisions about retiring abroad. However, these five countries can be great options for retirees looking to enjoy a lower tax rate on their pension income while experiencing new cultures and ways of life.

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