The best countries to retire abroad ranked

The world’s best countries for Britons retiring abroad have been named, with two nations taking joint top spot – and one is closer to home than you might think.

The Republic of Ireland could be worth relocating to if you want favourable tax treatment and are keen to avoid the stress of organising a visa, new research suggests.

Meanwhile Cyprus, with its tax breaks, balmy weather and a cheap cost of living, is also top of the tree when it comes to offering retirees the best standard of life.

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The research from Hoxton Wealth also shows Malta and Portugal offer a host of perks that could be valued in later life.

Some unexpected countries are worth exploring if you want to retire overseas, with Uruguay, Panama and Malaysia all offering a wealth of benefits in your golden years.

“For many British professionals and families, the idea of living abroad has long been tied to lifestyle,” says Chris Ball, chief executive officer of Hoxton Wealth, an international wealth management firm.

“Better weather, a slower pace, or simply the opportunity to experience something different.

“In 2026, that decision is becoming more considered. Changes in tax treatment, evolving visa frameworks, and a more uncertain economic backdrop mean that relocating is no longer just about where you would like to live. It is about how that decision fits with your wider financial position, both now and over time.”

We look at what happens to your pension if you move or retire abroad in another piece.

Where are the best overseas destinations to retire to?

Hoxton Wealth’s UK Retirement Destinations Attractiveness Report 2026, published with the help of a team of international students from the University of Warwick, considered a range of criteria including visa access, cost of living, taxation, climate and lifestyle and safety when deciding which countries offer the best retirement prospects.

Each criteria was ranked out of 10 and added up to come up with a total score out of 100. Cyprus scored a total of 86, meaning it came joint top of the list.

The Mediterranean destination scored highly due to its favourable tax system, with no inheritance or wealth taxes in place, as well as its climate and outdoor lifestyle. The widespread use of the English language was another reason why it scored highly overall.

Despite a suspected drone attack at RAF Akrotiri on the island in early March 2026, the Foreign, Commonwealth and Development Office isn’t advising against travel to Cyprus (as of 27 April) either.

Tied for the top spot with Cyprus was the Republic of Ireland. Under the Common Travel Area (CTA), UK citizens have the right to live, work and retire in Ireland without the need for a visa, while there’s no formal application process for residency, unlike a host of other EU countries post-Brexit.

Retirees relocating to Ireland also face no wealth tax.

Malta and Portugal featured high on Hoxton’s list, scoring well for their balmy climates, access to healthcare and low crime levels. Short flights and regularity of flights for both destinations also saw them rank highly.

Panama’s territorial tax system, where foreign-sourced income is not taxed locally, meant it scored 10 out of 10 in the taxation category in Hoxton’s research.

Uruguay also scored highly in the research due to its safety and political stability while private healthcare, which is widely used by expats, is considered reasonably priced.

For those after a cheaper cost of living and easy pathway to residency, Malaysia is another option. The Malaysia My Second Home (MM2H) programme offers retirees long-term renewable residency based on meeting certain financial criteria, minimum income and asset threshold requirements.

Spain is still a viable option for retirees, according to Hoxton’s research, with a high quality public healthcare system and community-focused culture offering retirees plenty of opportunities for social interaction.

Credit: Hoxton Wealth