Retirement is a time of life where all the work people have completed comes to fruition. Most people live on pension plans that require careful attention to detail and proper budgeting to ensure they last throughout retirement. However, a small number of retirees have the means to retire and live in luxury. For these people, the world is their oyster, and they can go wherever their hearts desire. Here is a breakdown of ten of the world’s most lavish retirement destinations.
1) MONACO – France borders the Principality of Monaco on three sides, and the Mediterranean borders the small country on one side. The Principality of Monaco has an area of approximately 2.02km (0.78 mi) and more than 19,000 inhabitants per square kilometer, which makes it the second-smallest independent, and most densely populated, sovereign state.
Getting around Monaco is easy as there is plenty of public transportation and the country is small on foot as well. Monaco offers world-class entertainment with the Formula 1 Grand Prix, the Monaco Yacht Show, and the Casino de Monte Cristo. Real estate in this small locale is coveted by many because of its proximity and easy access to the rest of Europe.
Moreover, Monaco is known for its relaxed tax laws and its secure banks. Folks looking to retire here are sure to enjoy the finer things life has to offer.
2) DUBAI – Dubbed as one of the world’s cleanest cities, Dubai is a hot destination for travelers from all corners of the globe. In 2016, Dubai was the fourth most visited city in the world. The skyline boasts impressive buildings, including the Burj Khalifa, which is the tallest manmade structure in the world. Additionally, the city offers more than 70 shopping centers, several water parks, camel rides, the world’s largest choreographed fountain system set to music, and other tourist attractions for visitors.
Dubai does not offer permanent residency, citizenship, or retirement visas to non-native persons. However, this doesn’t mean one cannot retire there as long as permits are consistently renewed every 2-3 years. There are two types of investment visas that retirees can obtain if they wish to stay in Dubai: the business investment visa and the real estate investment visa. Additionally, if a retired adult has a child working in the UAE with a Labor Card and valid residency permit, then he or she can qualify for the dependency visa and move to Dubai with that visa. For the dependency visa, sponsors (adult children) typically need to make at least $65,000 USD per year.
3) SINGAPORE – Like Dubai, retiring in Singapore requires a residency visa through an investment, in most cases. A permanent residency visa can be obtained through a work permit after a year of working and living in Singapore and must be renewed every five years.
However, this country is valued for its rich climate, first- world amenities, favorable exchange rate, and the fact that English is an official language of the nation. Retiring in Singapore will require a higher cost of living and given that it’s one of the world’s largest financial and cultural centers; this is no surprise. However, living here is about enjoying the cosmopolitan lifestyle rather than trying to make savings stretch.
4) PORTUGAL – The coastal region of Algarve in Portugal is repeatedly named one of the world’s top retirement destinations by numerous publications, and it’s no wonder why. It really is a piece of quintessential Europe. In this region, all desirable qualities in a retirement destination can be found from cobblestone village streets to open-air markets to miles of sandy beaches.
Moreover, the coastal region of Algarve offers more days of sunshine than almost anywhere else in Europe and is a top vacation spot for both the winter and summer seasons. It boasts over 100 miles of Atlantic shores filled with rock formations, lagoons, and sandy beaches. The region is also home to 42 golf courses in less than 100 miles and is viewed as a top golf location in Europe.
There is no shortage of luxury in Algarve with well- structured international healthcare, an undervalued property market, no taxes on retirement income, healthy living and eating, and English widely spoken in the region.
5) PROVENCE, FRANCE – The Provence region of France offers old-world charm for the romantic at heart. This region is known for its slow pace and beautiful landscapes. Let’s not forget that it is relatively close to Italy, as little as one hour away in some parts of the region.
It is an area that seduces its visitors and breeds inspiration through its fields of lavender, Mediterranean beaches, mountain ranges, stone-paved villages, various festivals, and of course: the incredible food. Provence is all the best parts of France wrapped into one location. The cost of living in Provence is on the higher end, so you definitely need to have a cushioned nest egg to settle here permanently.
6) TUSCANY, ITALY – This region of Italy is the most sought after by foreigners, and it’s also one of the most expensive as well. Whatever you want, you can find it in Tuscany. The climate is mild with cool winters. Tuscany offers seaside, valleys, and mountains to its visitors. People flock to the mountains in the winter for skiing. Strolling along in old-world villages, enjoying fresh wine, authentic Italian cuisine, and tourist attractions are just some of the amenities offered by this countryside rich in chic culture.
7) CURACAO – Curacao is a small island nestled just 35 miles north of Venezuela. It is safely located south of the hurricane belt and offers all the luxurious amenities expected of the Caribbean. The capital, Willemstad, is a bustling town full of life and open markets.
It is a Dutch sovereign state, and their official languages are Dutch, English, and Papiamentu. Also, Curacao offers tax incentives for retirees.
One famous perk of the island is The Blue Edge, a famous scuba site for tourists. It is located off of the north coast of the island and it has an underwater cliff with a 200ft drop. In addition, the island offers other outdoor fun and sports such as hiking, biking, and sailing. For those who are hoping to retire and live that slow pace lifestyle in paradise, this is where they want to be.
8) COSTA RICA – It’s no surprise the name of this country literally means “rich (beautiful) coast.” Costa Rica has it all: a warm climate year-round, the Pacific Ocean to the west, the Caribbean Sea to the east, rainforests, mountains, modern cities, and quiet villages. Costa Rica is especially known for its surf. People from all around the world travel to Costa Rica to go surfing.
A retiree can expect to live a relaxed life with a world of entertainment options at his or her fingertips. A person, with the financial means to do so, can find a home with any view that he or she desires.
Moreover, Costa Rica has gained popularity because of its upkeep with the demands of the middle class. It offers theaters, galleries, and fine dining with basically any cuisine. They also offer excellent healthcare, high-speed internet in virtually all areas, reliable electrical service, great cell phone reception, and clean drinking water from the tap. Costa Rica stays a step above its neighbors to the south by staying on top of first-world expectations.
9) TURKS AND CAICOS – Here is another grand Caribbean escape for those who want to live in the lap of luxury when they retire. Turks and Caicos is a British overseas territory well known for its white sandy beaches. In fact, Grace Bay Beach is consistently named one of the top beaches in the world. It is a top destination for water sports and is home to one of the largest coral reef systems in the world.
Turks and Caicos is coined a tax haven as there are no income, capital gain, inheritance or estate taxes implemented. Cost of living is on the higher end as most goods are imported. There is no denying though, if you want the slow pace lifestyle with long stretches of beautiful white-sand beaches and the island breeze, Turks and Caicos is a top contender.
10) THE WORLD RESIDENCES AT SEA – The World is the largest private residential ship, and it is 644 feet long. There are 165 individual homes on board this ship, and it travels to different parts of the world every few days. This is, by far, one of the most unique retirement options. It is like being on a permanent luxury cruise where all the passengers take a part in the itinerary planning each year.
Prices for being on board The World are not listed on the website, but it is clearly designed to be an experience of grandeur. There are six dining rooms on board the ship, and a recognized fine wine collection. Each year, a series of intellectuals come to the ship to speak on hot academic topics, which is especially stimulating for the residents.
For the adventurer retiree, a life on board The World, is the pinnacle of new experiences combined with relaxation.
WE ARE READY WHEN YOU ARE.
Call Benchmark International today if you are interested in an exit or growth strategy or if you are interested in acquiring.
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkCorporate.com
Europe: Carl Settle at +44 (0)161 359 4400 / Settle@BenchmarkCorporate.com
Africa: Anthony McCardle at +2721 300 2055 / McCardle@BenchmarkCorporate.com
ABOUT BENCHMARK INTERNATIONAL
Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximizing solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $5B across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.