The 4 Best Retirement Visas In Europe
Make Your Nest Egg Last (And Live Better Doing It)
Retiring in the US costs too much.
Social Security does not cover as much as it used to. Healthcare gets more expensive every year. Property taxes do not stop just because you stopped working. And after decades of saving, you are looking at your budget thinking:
Is this really it?
A lot of retirees are realizing they have other options.
European countries actually want American retirees. They have visa programs designed specifically for people with steady pension or Social Security income. You don’t need to be rich. Just show them you have got money coming in each month and you won’t end up broke and relying on their local systems.
This article covers the 4 of the best retirement visas in Europe.
What each one requires, how the taxes work, and what you need to know before you decide.
Let’s start with why Europe makes sense for retirement.
Why Europe For Retirement?
Before we get into specific visas, let’s talk about why Europe in the first place.
Healthcare
European healthcare costs less. In Portugal (one of the more popular destinations amongst expats), private health insurance is about $460 to $1,150 per year for comprehensive coverage.
In the US, Medicare Part B alone costs $185 per month. Add a Medigap supplement plan (average $90-200/month, depending on coverage), and you are paying $3,300 to $4,620 per year just for basic coverage.
Most retirees in the US spend significantly more once you factor in prescriptions and uncovered services.
In Europe, you get comparable or better care for a fraction of the cost.
Cost of Living
Your retirement income can go further in Europe, but it depends on where you are coming from and where you are going.
Moving from San Francisco to Lisbon? Your cost will be lower. Moving from rural Tennessee to central Paris? You cost will be higher.
Generally speaking, smaller cities and towns offer lower costs than major US metro areas.
Rent, groceries, and utilities also tend to be cheaper and dining out is more affordable.
BUT, Europe is not “universally cheap” like many articles and YouTube videos promise. Major capitals like London, Paris, and Zurich are expensive. And other popular expat hubs (e.g. Lisbon) are getting pricier as more people move there.
When you see a clickbait headline promising “expat heaven” I suggest you click away. Those videos are designed to trigger positive emotions and drive engagement, not inform you. You are wasting your time and not getting the true picture of a place.
The advantage is: You have options. You can choose a lower-cost area in Europe and stretch your retirement income further than you could in a comparable US location. And you can always hop on a plane and do a weekend trip to Paris.
Tax Treatment
Here’s where it gets complicated. Really complicated.
Most Americans assume moving abroad means paying more in taxes. Sometimes it does. Sometimes it doesn’t. It depends entirely on your specific income situation and the way your income is treated abroad.
Here some important facts:
In the US, if your combined income exceeds certain thresholds ($25,000 single, $32,000 married), up to 85% of your Social Security becomes taxable at regular income tax rates.
The 2025 tax law added a temporary $6,000 deduction for those 65+, which helps many retirees avoid federal tax entirely.
When you move to Europe, each country treats your Social Security differently:
Spain exempts US Social Security from Spanish taxation under the tax treaty (though it counts toward calculating your rate on other income).
Greece offers a 7% flat tax on all foreign income for 15 years.