Getty ImagesSave this storySave this storyThere is a point in life when everyone inevitably starts dreaming of retirement. For me, these thoughts came unexpectedly when I was just about to enter my 30s. Retirement seemed like a very far-away concern, but also one that required a bit of thought considering the difficulties that millennials and Gen Z are now facing—namely, the rising cost of living, a dire housing market, and a retirement age that is only getting higher.
There are quite a few aspects to consider when deciding where to retire. For me, quality of life, mild weather, and a good healthcare system are high priorities, as well as having a pre-existing network of friends and family. For others, dual citizenship options, tax optimization, and cost of living may be of more importance.
This is where the 2026 Global Retirement Report and Index comes in, a new report compiled by Global Citizen Solutions. The annual index compares 46 residency programs across Europe, the Americas, Asia-Pacific, the Middle East and Africa. Importantly, every country on the list has a residency route aimed at retirees or financially independent people, such as Portugal's D7 Visa and Spain's Non-Lucrative Visa.
To determine the order of the ranking, researchers assessed each program across five weighted categories: quality of life, mobility and citizenship, tax optimization, procedure, and costs and investment. This covers everything from safety and environmental quality to income requirements, processing times, tax rates, and the route to permanent residency or citizenship. Quality of life and mobility and citizenship were given the greatest weight.
Interestingly, there is no runaway winner. Fewer than four points separate the entire top 10, with six European countries making the cut, alongside three in the Americas and one in Africa. The report itself recommends looking at the leading countries as a group of strong options rather than treating their positions as a definitive order. At the end of the day, everyone has different needs and a choice as important as a big international move depends on individual priorities. These are the 10 countries that came out on top.
Abundant sunshine, beautiful islands, and some of the best food in Europe already make this Mediterranean nation an enticing retirement prospect, but Greece's residency program also stands out for long-term mobility. Greece received the highest mobility and citizenship score in the entire index, with its Financially Independent Person Visa providing a route to naturalization after seven years. According to the report, applicants need to demonstrate an income of €3,500 (about £2,987) per month, while qualifying retirees may also benefit from Greece's 7% flat tax on foreign-source income for up to 15 years.
As an Italian, the south of Italy would be my first retirement choice, but you don't have to be born in Italy or have family there to feel at home. If spending retirement eating pasta in a hilltop village sounds like your idea of heaven, there is good news. Italy placed ninth overall and second in the index for mobility and citizenship. According to the report, its Elective Residency Visa is aimed at people able to support themselves without working in Italy and requires passive income of around €31,000 (about £26,461) per year. Italy also offers a particularly attractive tax incentive for some retirees: those who settle in qualifying smaller municipalities in southern Italy can benefit from a seven per cent flat tax on foreign income for up to 10 years.
Perhaps a more unexpected entry in the top 10 is this tiny country wedged between France and Spain in the Pyrenees. Andorra stands out for its quality of life, ranking third in that category. Personal income tax is capped at 10%, while there is no wealth or inheritance tax. There is, however, a considerable catch: following changes introduced in February 2026, passive residents must make a qualifying investment of €1 million (around £853,445), giving Andorra the highest cost of entry of all 46 programs analyzed. Its naturalisation process is also considerably longer, at 20 years.
