How can retirees move to foreign countries?

As people approach retirement age, many begin to systematically consider the possibility of moving to other countries. They are interested in the prospect of improving their quality of life, accessing more effective medical care, reducing stress levels, and enjoying a comfortable climate. Against this backdrop, one of the key questions they ask themselves emerges: "Are there real chances to realize these plans, for example, through the sale of property?" In reality, such a move is possible, but financial circumstances often play a crucial role in making decisions about significant life changes.

Most retirees from Russia tend to choose countries where migration conditions are realistic and financially accessible. Some of them even consider starting their own small business abroad. However, it is important to remember that the right to obtain a residence permit through property acquisition or investments does not imply the possibility of employment or running a business. For that, it is necessary to obtain a business visa, which requires significantly more financial investment and additional effort.

Popular countries for pensioners to emigrate to

In this article, we will explore the most attractive countries for the emigration of Russian retirees, starting with Bulgaria.

1. Bulgaria

Basic information

Bulgaria has been maintaining its appeal for Russians looking to invest in residential real estate and emigrate for retirement for many years. For affluent retirees, the country offers the prospect of obtaining a residence permit. To do this, one must provide a bank statement with payment records for the previous three months and have at least 1,000 euros in their account (which corresponds to 12 minimum local pensions). Additionally, the retiree must secure housing in the country, whether owned or rented. Furthermore, health insurance with coverage of at least 60,000 leva (about 30,000 euros) is required.

How to obtain a residence permit

In addition, a residence permit can be obtained by making a capital contribution of 1 million lei (500,000 euros) to the country's economic system or by purchasing real estate worth 300,000 euros. All incoming funds are subject to verification for legality, and retirees must provide the necessary financial documents to confirm the legality of their income.

At first, a pensioner receives a category D visa, and then, after obtaining permission from the Bulgarian migration authorities, they can apply for a plastic identification card. The residence permit is issued for a period of one year with the possibility of extension, which helps pensioners plan their future life in this country.

Advantages of emigrating to Bulgaria

Thus, emigration, especially to countries like Bulgaria, opens up many new opportunities for Russian retirees. Moving to more comfortable conditions is becoming increasingly relevant, especially against the backdrop of economic realities and the standard of living in Russia. Moreover, various programs offered by countries for foreigners not only allow for an improved overall quality of life but also help preserve savings. However, it is very important to carefully study all aspects of this transition in order to adequately understand the financial costs and legal conditions of a new life.

Opportunities with residence permits in EU countries

Having a residence permit in European Union countries offers foreign citizens a wide range of opportunities. The main advantages include comfortable living conditions, affordable living and property purchase costs, as well as ease of movement between states.

Holders of residence permits can stay in the country for more than 180 days a year, as well as enter and exit without restrictions. They can leave the country and return without visa limitations, which is especially convenient for trips to countries like Croatia, Romania, and Cyprus. Importantly, these individuals have the opportunity to invite relatives and friends from other countries. After five years of legal residence in Bulgaria with a residence permit, one can apply for permanent residency.

Real estate in Bulgaria

Let's move on to the real estate market. In Bulgaria, the prices for comfortable apartments start at€35,000For that amount, you can buy a small furnished one-bedroom apartment by the coast. If your plans include purchasing a more spacious two-bedroom apartment, you should expect amounts starting from€60,000.

On average, monthly living expenses in Bulgaria amount to about€500.

Montenegro and its advantages

Now let's turn our attention to Montenegro. Since 2015, when the temporary residence program was launched, this country has been offering this status to anyone who aims to purchase real estate, regardless of its cost or the duration of ownership.

To apply for a temporary residence permit, you need to prepare a specific set of documents, including:

• medical insurance
• a bank statement confirming the balance€3650on the account

The processing of the application takes about 30 days and does not require mandatory presence in Montenegro. Such temporary permits are issued for one year, with the possibility of extension.

Advantages of a temporary residence permit in Montenegro

The advantages of a temporary residence permit in Montenegro include:

• the ability to reside without restrictions for the duration of the document's validity
• access to loans
• simplified process of obtaining Schengen visas

In addition, Montenegro is famous for its mild climate, quality products, and active Russian-speaking community. A cozy two-bedroom apartment in Budva can be purchased for€50,000...and modern apartments in a new elite complex located in the center of the resort and just a few minutes from the sea will cost around...€165,000The average monthly expenses in Montenegro are about€800.

Turkey as an attractive country for investment

Turkey is also an attractive destination for foreign investors. Here, anyone who buys real estate can obtain a temporary residence permit, without any restrictions on the cost or duration of property ownership. This destination is especially popular among retirees, not just Russians.

After purchasing real estate in Turkey, you should contact the Ministry of Defense to obtain a residence permit and receive the tapu – the title deed. To get a temporary residence permit, you must stay in Turkey for at least245 daysfor a year. To change the temporary status to permanent, it is necessary to live in Turkey foreight years oldIn this case, you can be absent for no more than the last five years.365 days.

Conclusion

As of today, all three countries under consideration represent attractive options for living and investing. Each of them offers a variety of advantages and opportunities for new residents to integrate into their culture and economy, making them desirable places to live.

Type of temporary residence permit

This type of temporary residence permit (TRP) does not provide the opportunity for employment or access to free medical care in the country. The validity period of such a TRP is one year, with the possibility of extension.

Advantages of a temporary residence permit

As for the positive aspects of a residence permit, it allows you to live freely in the country for the entire duration of its validity. Additionally, there are opportunities to apply for a Schengen visa while being in Turkey. The climate here is mild, and the cost of living, including rent, remains at an affordable level.

Real estate in Turkey

When it comes to real estate in Turkey, with a budget starting from70,000 eurosIt is easy to find a well-furnished apartment by the sea with two bedrooms and a beautiful view.

Housing in Thailand

In the kingdom of Thailand, with a budget starting from 15,000 baht (approximately 30,000 rubles) per month, you can secure quite comfortable housing. This could be a small house on the coast or a spacious apartment in a condominium, equipped with everything necessary for living. If you are considering purchasing property, the cost of an apartment or a small house starts from three million rubles.

It is worth noting that foreigners cannot freely purchase land where buildings are located. They have the option to lease the land for a period of up to 30 years, with the possibility of extending it for two additional terms, which ultimately allows them to control the land for up to 90 years.

Monthly expenses in Thailand

As for the level of monthly expenses, they can average around €700.

Buying real estate in Cyprus

Now let's turn our attention to Cyprus. This country offers its residents a residence permit, commonly referred to as a "pink slip," to anyone who decides to purchase real estate on its territory, regardless of the cost or duration of ownership. In the process of obtaining this right, certain documents need to be prepared, including:

• A bank statement showing a balance of at least €15,000.
• Health insurance

The applicant is required to be in Cyprus during the verification of their documents, and to renew their residence permit, they must be registered in the country for at least six months of the year.

Permanent residence in Cyprus

To obtain permanent residency in Cyprus, you need to purchase real estate, whether it's one property or several, such as an apartment and a business, with a total value of at least €300,000. You also need to deposit €30,000 in a Cypriot bank.

A permanent residence permit is granted without the need for renewal, but you must visit the country at least once every two years.

Important:This type of residence permit does not grant the right to work or access to free healthcare.

Comparison of temporary and permanent residence permits

The validity of a residence permit is one year with the possibility of extension, while permanent residency is granted indefinitely. The advantages of a temporary residence permit include the freedom to live in Cyprus for the entire duration of the document without restrictions, as well as the ability to apply for visas directly within the country.

The cost of housing in Cyprus

Now let's consider the process of acquiring property in Cyprus. You can find a decent apartment starting from €40,000. However, if you're looking for more spacious and modern apartments, prices start at €125,000. On average, the cost of living in Cyprus is around €1,000 per month.

Residence permit in Italy

As for Italy, this country offers a residence permit known as residenza elettiva, which is intended for wealthy retirees. To obtain it, you need to provide proof of having a certain amount of money in a bank account.

For a couple, the minimum income that should be reported to the authorities is around €50,000 per year. This can also include income from rental properties, pension payments, and other sources.

Thus, Italy offers the opportunity to live in the country for the entire duration of this residence permit, making it attractive for financially stable individuals seeking a life in this wonderful region.

Buying real estate in Italy

Purchasing property in Italy does not automatically grant residency (permesso di soggiorno), but owning property can positively influence the decision of local authorities. A temporary visa can be issued for a period of one year with the possibility of further extension. It is important to remember that absence from the country should not exceed six months, otherwise there is a risk of losing the residency permit.

Advantages of a residence permit

A residence permit in Italy offers a number of significant advantages:

• The right to life in Italy for the entire duration of the visa without restrictions.
• Free movement across the countries of the European Union.
• The possibility of visa-free travel within the Schengen Area.
• The right to obtain various visas, including US and UK visas, in Italy.
• Access to free medical care.

The real estate market in Italy

In the Italian real estate market, you can find a small apartment with an area of about 50 square meters for approximately€50,000If you are looking for higher quality housing in developed areas, the budget should start from€120,000On average, the cost of living in the country is about€1000per month.

The situation in Greece

The situation in Greece has its own peculiarities. Despite the absence of a special pension program, there is a long-term residence permit available for those who purchase real estate worth at least€250,000Additionally, tenants have the option to rent housing, with the rental period being no less than 10 years, and the rental amount must not exceed certain limits.€250,000.

A participant in this program must have a minimum balance in their account.€24,000, adding20%for the spouse and15%For each child. To submit the necessary documents, a certificate of no criminal record will need to be provided. It is important to note that obtaining a residence permit in Greece does not grant the right to work.

The validity period and benefits of a residence permit in Greece

The validity of the residence permit in Greece is two years, with the possibility of extending it for another three years. Its benefits are similar: free stay in the country, the ability to move freely within the EU and the Schengen area, the right to obtain visas, and access to free medical care.

The real estate market in Greece

As for real estate in Greece, the price of an apartment in resort towns with an area of 50 square meters is approximately€65,000For the same amount, you can find a small house in the suburbs. However, modern residential complexes and high-quality villas start from€180,000The expected average monthly expenses in Greece are approaching€800.

Advantages of moving to Spain

Spain, in turn, continues to be one of the most attractive destinations for relocation. The country is famous for its warm climate and friendly attitude towards foreigners. The Spanish government offers residence permits for retirees who can ensure a decent standard of living within the country.

To obtain a residence permit, you need to have an amount equivalent to your annual income in your bank account.€10,000which is approximately€833In terms of "net" income per month. Thus, Spain offers numerous opportunities for comfortable living, and the interest of Russians in this country remains high.

Conclusion

In concluding this article, I would like to emphasize that the possibility of moving to another country for retirement is not only an interesting idea but also a quite feasible one for many Russians. While budget remains the primary factor, it is important to consider many other aspects as well.

Each country discussed in our review has its own unique advantages, such as:

• Favorable living conditions
• Climatic features
• Affordable housing prices

Retirees have the opportunity to significantly improve their quality of life by choosing a cozy corner in Bulgaria, Montenegro, or Turkey. A pleasant climate, stable economy, and friendly atmosphere create excellent conditions for comfortable living.

Low living expenses, the possibility of obtaining a residence permit, and the simplicity of processing the necessary documents make relocation an attractive option for many.

Important points for moving

In addition to country recommendations, it's important to remember that preparing for a move requires careful planning. It is necessary to:

• Gather all the necessary documents.
• Think about health insurance.
• Provide comfortable housing

Setting clear goals and realistic expectations will help in this process.

In summarizing the possibility of moving for retirement, I want to emphasize that this is a long-awaited step into a new life that can open up many horizons for you.Don't be afraid to try new things and make important life decisions.for they are the ones who shape our future.