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Living Abroad as a Retiree: Your Dream of a Carefree Retirement
The dream of retiring under palm trees or in the mountains of Europe is enticing for many Germans. But what should you consider if you want to spend your retirement abroad? Ensure you gather comprehensive information on the key aspects and plan your move carefully. Need assistance with planning? Get in touch with us here.
The topic short and concise
The dream of retiring under palm trees or in the mountains of Europe is enticing for many Germans. But what should you consider if you want to spend your retirement abroad? Ensure you gather comprehensive information on the key aspects and plan your move carefully. Need assistance with planning? Get in touch with us here.
The dream of retiring under palm trees or in the mountains of Europe is enticing for many Germans. But what should you consider if you want to spend your retirement abroad? Ensure you gather comprehensive information on the key aspects and plan your move carefully. Need assistance with planning? Get in touch with us here.
The dream of retiring under palm trees or in the mountains of Europe is enticing for many Germans. But what should you consider if you want to spend your retirement abroad? Ensure you gather comprehensive information on the key aspects and plan your move carefully. Need assistance with planning? Get in touch with us here.
Learn everything important for your retirement abroad: popular countries, financial aspects, health insurance, and legal frameworks. Start your new life now!
The dream of retirement abroad is becoming a reality for more and more people. The idea of spending one's twilight years in a location with a pleasant climate, lower living costs, or close to family and friends is enticing. However, before you pack your bags, there are a few things to consider. At GoMovin, we assist you in making your move abroad smooth and stress-free. With our expertise in Expat Services and international relocation, we ensure that you feel at home in your new surroundings right from the start. Our all-in-one solution includes not only the actual move but also personal consultation, legal support, property services, and integration into the new culture.
Overview of the Rising Popularity of Retiring Abroad
More and more German pensioners are choosing to spend their retirement abroad. According to recent studies, over 237,000 German citizens receiving statutory pensions lived abroad permanently last year. This trend reflects the desire for a fulfilling and worry-free retirement. The increasing number of emigrants shows that many people want to recognise and take advantage of the benefits of living abroad. We help you take this step safely and successfully.
Why Are German Pensioners Moving Abroad?
There are many reasons why German pensioners opt for a life abroad. One important factor is the more pleasant climate that particularly attracts people to southern countries like Spain or Italy. The lower living costs in countries like Bulgaria or Thailand also play a role. Furthermore, many pensioners seek proximity to family and friends who already live abroad. Not to be forgotten are the social contacts and the opportunity to experience new cultures. At GoMovin, we understand these motives and offer tailor-made solutions to meet your individual needs.
Attractive Factors:
The decision to live abroad often depends on various factors:
Warmer climate: Especially for people with health problems, a milder climate can significantly improve quality of life.
Lower living costs: In many countries, the costs of rent, food, and leisure activities are significantly lower than in Germany.
Social contacts and existing connections: Proximity to family, friends or other expatriates can ease integration.
We take all these aspects into account when planning your move and support you in choosing the country that best suits you.
Important Aspects Before Moving: A Checklist
Before you take the step abroad, you should consider some important aspects. These include clarifying financial situations, ensuring health insurance coverage, complying with tax obligations, and applying for necessary visas and residence permits. Organising the move and improving language skills are also important preparatory steps. At GoMovin, we provide you with a comprehensive checklist and support you in all necessary steps so that you can enjoy your retirement abroad with peace of mind.
Top-Destinations: How to Find Your Ideal Retirement Paradise
Choosing the right country is crucial for enjoying a successful retirement abroad. There are a variety of attractive destinations, each with its own unique benefits. At GoMovin, we help you find the country that suits you best by taking into account your individual needs and desires. We analyse factors such as climate, cost of living, cultural offerings, and the availability of healthcare. This way, you can be assured of spending your retirement in a place where you'll feel completely at ease.
European Countries: Favourites and Their Advantages
European countries are particularly popular among German retirees. According to a study, Austria, Switzerland, Spain, and France are the top destinations. These countries stand out due to their geographical proximity, cultural similarities, and high quality of life. Bulgaria and other Eastern European countries are also gaining popularity because they offer lower living costs. We at GoMovin support you in selecting the right European country for you and assist you with all steps of the relocation process.
Top Destinations:
The most popular European countries for German retirees each offer unique benefits:
Austria and Switzerland: Geographical proximity, cultural similarities, and high quality of life make integration easier.
Spain and France: Mild climate, attractive coastal regions, and a rich culture attract many retirees.
Bulgaria and other Eastern European countries: Low living costs allow for a comfortable retirement on a small budget.
We are happy to advise you on the pros and cons of each country and assist you in making a decision.
Non-EU Countries: Options and Specifics
Besides European countries, there are also attractive options outside the EU. Thailand and South Africa are popular destinations but come with specific requirements for visas and residence permits. In Thailand, for instance, there are special retirement visas for those over 50 with a monthly net income of at least 1,700 EUR. South Africa offers temporary and permanent residence permits but requires a monthly income proof of around 1,900 EUR. We at GoMovin support you in applying for the necessary documents and inform you about the specific regulations of each country.
Examples:
Some popular non-EU countries for German retirees:
Thailand: Offers special retirement visas and low living costs, but requires regular check-ins.
South Africa: Allows temporary and permanent residence permits, but requires income proof.
We help you weigh the pros and cons of each option and make the best choice for your retirement.
Comparison of Countries Regarding Cost of Living, Climate, and Quality of Life
Cost of living, climate, and quality of life are important factors when choosing the right country for your retirement. In Bulgaria, for example, the cost of living is significantly lower than in Germany, while the climate in Spain is milder and sunnier. The quality of life in Switzerland is very high but also comes with higher costs. At GoMovin, we create a detailed comparison of different countries, taking into account your individual preferences and budget. This way, you find the country that best meets your needs.
Financial Security: Pensions, Taxes, and Health Insurance in Focus
The financial aspects are a central component of planning your retirement abroad. It's important to inform yourself early about pension payments, tax obligations, and health insurance coverage. We at GoMovin assist you in optimally managing your financial situation and making all necessary arrangements. This way, you can enjoy your retirement abroad without worries.
Pension Payments Abroad: What You Need to Know
The payment of your pension abroad is generally possible without problems, as long as you consider a few key points. Within the EU/EFTA (Iceland, Liechtenstein, Norway, Switzerland), your pension is usually paid without restrictions. Also, with countries with which Germany has a social security agreement (e.g. USA, Brazil, Japan), there are usually no issues. However, in countries without an agreement, there may be restrictions. We at GoMovin provide you with comprehensive information about the regulations of individual countries and assist you in communication with the German Pension Insurance (DRV).
Full Pension Payment:
In most cases, you can expect the full payment of your pension if you consider the following points:
Within the EU/EFTA: Generally no issues with the full payment of the pension.
Social Security Agreements: Agreements with many countries govern the pension payments.
Countries without an Agreement: There may be restrictions here, so prior consultation is important.
We help you gather all necessary information and make optimal arrangements.
Important Notes:
There are some important notes to consider when making pension payments abroad:
Bank fees and exchange rate losses: These can occur when payments are made in foreign currencies.
Annual Certificate of Life: The DRV requires annual proof that you are still alive.
Inform German Pension Insurance: Notify the DRV of your move abroad in good time.
We assist you in completing all formalities and ensure that you receive your pension on time.
Tax Obligations Abroad
You must also fulfil your tax obligations abroad. With a permanent move (more than six months), you are only subject to limited tax liability in Germany. This can lead to the loss of tax allowances unless you earn over 90% of your income from Germany. It's important to consider the double taxation agreements between Germany and your new country of residence. The Neubrandenburg tax office (RiA) is the central contact point for retirees abroad with exclusively German pension income. We at GoMovin advise you on all tax-related questions and assist you in communication with the tax authorities.
Limited Tax Liability in Germany:
With a permanent move abroad, you are only subject to limited tax liability in Germany:
Permanent Move: More than six months abroad.
Loss of Tax Allowances: Possible, unless over 90% of income is from Germany.
Double Taxation Agreements: These govern the taxation of pensions abroad.
We help you optimize your tax situation and take all necessary steps.
Health Insurance Coverage Abroad
Health insurance coverage is an important aspect to consider for your retirement abroad. Within the EU/EEA and Switzerland, you may be able to continue your German health insurance (TK) under certain conditions. This is generally possible if you receive only a German pension and do not acquire your own benefit entitlements in the new country of residence. The DVKA offers detailed information for retirees who are insured in Germany but live in Europe. Outside the EU, your German health insurance usually ends. In this case, you need to take out local or private health insurance. We at GoMovin provide comprehensive advice on all questions regarding health insurance coverage and help you choose the right insurance.
Within the EU/EEA and Switzerland:
Under certain conditions, you can continue your German health insurance:
Continuation of German Health Insurance: Possible under certain conditions (S1 form).
DVKA: Provides detailed information for retirees in Europe.
Supplementary Private Health Insurance: Recommended to close any potential gaps in coverage.
We help you find the optimal health insurance coverage for your retirement abroad.
Outside the EU:
Outside the EU, you generally need to take out local or private health insurance:
German Health Insurance Ends: Usually with permanent relocation.
Local or Private Health Insurance: Necessary to remain covered.
Deferred Entry: Can secure later reentry into statutory health insurance.
We advise you on the various options and help you choose the right insurance.
Plan ahead: Secure formalities and residence permits
The legal framework and formalities are an important part of preparing for your retirement abroad. It is essential to find out early about registration requirements, residence permits, and other legal regulations. We at GoMovin assist you in taking all necessary steps and obtaining the required documents. This way, you can enjoy your retirement abroad legally and stress-free.
Registration requirements and residence permits
Within the EU, you enjoy freedom of movement as an EU citizen. This means that you can move freely and settle in any EU country. However, after three months, you must register with the local authorities and provide proof of your health insurance and sufficient income. After five years, you are entitled to a permanent right of residence. Outside the EU, you generally need a visa and a residence permit. The specific requirements vary from country to country. We at GoMovin provide you with comprehensive information on the regulations of each country and support you in applying for the necessary documents. Further information on residence rights for retirees can be found on the European Union's website.
Within the EU:
As an EU citizen, you enjoy freedom of movement within the EU:
Freedom of movement: You can reside and settle in any EU country freely.
Registration: Required with local authorities after three months.
Permanent right of residence: Entitlement after five years.
We help you take all necessary steps and obtain the required documents.
Outside the EU:
Outside the EU, you generally need a visa and a residence permit:
Visa and residence permit: Generally required.
Specific requirements: Vary depending on the country (e.g., Thailand, South Africa).
We provide you with comprehensive information on the regulations of each country and support you in applying for the necessary documents.
Retaining residence in Germany?
The question of whether you should retain your residence in Germany depends on various factors. If you wish to remain taxable in Germany or continue receiving social benefits, it might be sensible to retain your residence. However, this can also have implications for your tax obligations abroad. We at GoMovin offer individual advice and help you make the best decision for your personal situation.
Important documents and deadlines
There are a variety of important documents and deadlines to consider when preparing for your retirement abroad. These include your passport, birth certificate, pension statements, health insurance documents, and tax forms. Applying for visas and residence permits is often also bound by deadlines. We at GoMovin create a personalised checklist for you and assist you in obtaining all necessary documents and meeting all deadlines. Further information on retiring abroad can also be found on the ARAG's website.
Successful Integration: How to Settle Quickly Abroad
Successful integration is crucial for a fulfilling retirement abroad. It's important to engage with the culture, language, and customs of your new country of residence early on. At GoMovin, we support you in settling quickly and easily into your new home. We offer comprehensive information, intercultural training, and assistance in finding social contacts.
Checklist before moving:
Good preparation is key for a successful start to retirement abroad. Here is a checklist of the most important points you should address before moving:
Financial planning: Clarify your financial situation and plan your budget.
Pension and tax matters: Inform yourself about pension payments and your tax obligations abroad.
Health insurance: Take out suitable health insurance coverage.
Visas and residence permits: Apply for the necessary documents.
Organising the move: Plan the move and hire a reliable moving company.
Language skills: Improve your language skills to communicate more effectively.
We support you in completing all the points on this checklist and ensure you are well prepared.
Integration on site:
Even after moving, it's important to actively work on integration onsite. Participate in social activities and clubs, attend language courses and seek support from organisations such as Accueil des Villes Francaises (AVF). This way, you will make contacts quickly and feel at home in your new environment. At GoMovin, we assist you in finding suitable offers and events in your area.
Dealing with cultural differences
Every country has its own cultural characteristics and customs. It's important to be aware of these differences and to adjust accordingly. Be open and tolerant towards other cultures and learn from the locals. At GoMovin, we offer intercultural training to prepare you for the cultural differences and help you avoid misunderstandings. You can find more information on the subject of living abroad for retirees on the Techniker Krankenkasse website.
Overcoming Challenges: Solutions for a Carefree Life Abroad
Living abroad can also come with its challenges. Language barriers, cultural adjustment difficulties, health issues, loneliness, and bureaucratic hurdles can make everyday life difficult. It is important to be aware of these challenges and develop strategies to deal with them. At GoMovin, we assist you in overcoming difficulties and living a carefree life abroad.
Language Barriers and Cultural Adjustment
Language barriers can hinder communication and integration. Therefore, it is important to learn the language of your new country of residence or at least acquire basic knowledge. Cultural adjustment can also require time and patience. Be open to new experiences and learn from the locals. At GoMovin, we offer language courses and intercultural training to help you overcome language barriers and adapt culturally.
Healthcare and Emergencies
The healthcare system abroad may differ from that in Germany. It is important to inform yourself early about medical care in your new country of residence and take out suitable health insurance. You should also be prepared for emergencies and know how to get help in urgent situations. At GoMovin, we inform you about healthcare in your new country of residence and assist you in choosing the right health insurance. We also provide tips on how to prepare for emergencies.
Loneliness and Social Isolation
Loneliness and social isolation can be a particular issue for people moving abroad alone. Therefore, it is important to actively make social contacts and engage in clubs or organisations. Connecting with other expatriates may also be helpful. At GoMovin, we support you in finding social contacts and connecting with other expatriates in your area.
Bureaucratic Hurdles
There are bureaucratic hurdles to overcome even abroad. Applying for visas, residence permits, or other documents can be time-consuming and complicated. It is advisable to seek information promptly about the necessary formalities and, if necessary, get professional assistance. At GoMovin, we help you with all formalities and assist you in overcoming bureaucratic hurdles. Further information on pensions abroad and what to consider can be found on the 1822direkt website.
Tips for Overcoming Difficulties
Here are some tips that can help you overcome difficulties abroad:
Be open to new things: Get to know the culture and language of your new country of residence.
Make social contacts: Join clubs or organisations and seek contact with other expatriates.
Seek professional support: If you face difficulties, don’t hesitate to seek professional help.
Stay positive: Focus on the positives of your life abroad and don’t get discouraged.
At GoMovin, we are here to guide you and support you in overcoming all challenges.
Additional Security: Optimising Private Pensions and Insurance
Aside from the state pension and health insurance, it's important to also consider private provision and insurance. This way, you can further secure your financial situation in old age and protect yourself from unforeseen events. At GoMovin, we provide comprehensive advice on all questions concerning private provisions and insurance and help you find the right products for your needs.
Riester Pension:
If you have a Riester pension, you should be aware that you will need to repay the allowances if you move outside the EU/EFTA. Within the EU/EFTA, you can usually continue the Riester pension without any issues. At GoMovin, we provide comprehensive information on the regulations of the Riester pension and help you find the best solution for your situation.
Private Life and Pension Insurance:
Private life and pension insurance is generally paid out worldwide. However, it is important to inform your insurer about your move abroad. At GoMovin, we support you in communicating with your insurer and ensure that your insurance remains valid abroad.
Private Long-term Care Supplementary Insurance:
A private long-term care supplementary insurance is recommended, as the benefits of statutory long-term care insurance are often insufficient abroad. At GoMovin, we provide comprehensive advice on all questions regarding long-term care supplementary insurance and help you find the right insurance for your needs.
ETFs for Flexible Long-term Savings
ETFs (Exchange Traded Funds) offer a flexible way to save long-term and build your wealth. They are cost-effective, transparent, and offer broad diversification. At GoMovin, we provide comprehensive advice on all questions concerning investments and help you find the right ETFs for your needs.
Your dream of retirement abroad: GoMovin makes it possible!
A fulfilling retirement life abroad is not an unattainable dream. With the right planning and preparation, you can enjoy your retirement in a place of your choice. We at GoMovin are here as a competent partner to support you every step of the way – from the initial consultation to the successful move. Our expertise in international relocation and expat services guarantees you a smooth transition into your new life.
Summary of the Key Aspects
The key aspects for a successful life abroad as a retiree are:
Choosing the right country: Consider the climate, cost of living, cultural offerings, and the availability of healthcare.
Clarifying the financial situation: Find out about pension payments, tax obligations, and health insurance coverage.
Compliance with legal regulations: Pay attention to registration obligations, residence permits, and other legal requirements.
Successful integration: Engage with the culture, language, and customs of your new country of residence.
We at GoMovin support you in all these aspects and ensure that you can enjoy your retirement abroad without any worries.
The Benefits and Challenges of Retiring Abroad
Retiring abroad offers many benefits, such as a more pleasant climate, lower cost of living, and the opportunity to experience new cultures. However, there are also challenges, such as language barriers, cultural adaptation difficulties, and health issues. It's important to be aware of these challenges and develop strategies to overcome them. We at GoMovin are here to provide advice and support you in overcoming all difficulties.
Personal Decision and Individual Planning
The decision to live abroad is a very personal one and should be well-considered. It's important to take enough time for planning and preparation, and to carefully consider all aspects. We at GoMovin offer you individual advice and assist you in creating a tailored plan for your retirement abroad.
Outlook on Future Developments
The trend of retiring abroad is expected to continue in the future. More and more people are recognizing the advantages of living abroad and making use of the opportunities available to them. We at GoMovin are well-prepared for this development and will continue to offer you competent support with your move abroad.
Are you ready to realise your dream of a life abroad as a retiree? We at GoMovin are happy to help you take this step. Our comprehensive services include planning, organising and executing your move, as well as support with all formalities and administrative procedures. Contact us today to learn more about our services and to plan your individual move. We look forward to accompanying you on your journey to a new and exciting chapter of your life. Contact us now!
Further useful links
Die VPV published a study on the increasing number of German pensioners living abroad.
Der Spiegel reports on popular countries for German retirees who spend their retirement abroad.
Die Europäische Union provides information on the residency rights of pensioners within the EU.
ARAG offers information and guidance on the topic of pensions abroad.
Die Techniker Krankenkasse (TK) provides information about living abroad for pensioners and health insurance.
1822direkt gives an overview of what to consider when receiving pensions abroad.
FAQ
Which countries are particularly popular for German retirees who want to live abroad?
According to studies, European countries such as Austria, Switzerland, Spain, and France are particularly popular. Bulgaria and other Eastern European countries are also gaining attractiveness due to lower living costs.
How does moving abroad affect my pension payments?
Within the EU/EFTA, your pension is usually paid without restrictions. With countries with which Germany has a social security agreement, there are generally no problems either. In countries without such an agreement, there may be restrictions. It is advisable to seek information from the German Pension Insurance (DRV) in advance.
Do I have to pay tax on my pension abroad?
If you permanently move abroad, you are only subject to limited tax liability in Germany. Pay attention to the double taxation agreements between Germany and your new country of residence. The Neubrandenburg Tax Office (RiA) is the central point of contact for retirees abroad with exclusively German pension income.
How am I insured for healthcare abroad?
Within the EU/EEA and Switzerland, you can, under certain conditions, continue your German health insurance (TK). Outside the EU, you usually require a local or private health insurance.
Do I need a residence permit to live abroad?
Within the EU, as an EU citizen, you enjoy freedom of movement. However, after three months you must register with local authorities. Outside the EU, you typically need a visa and a residence permit.
What do I need to consider when taking my Riester pension abroad?
If you have a Riester pension, you should note that you might have to repay the allowances if you move outside the EU/EFTA. Within the EU/EFTA, you can usually continue the Riester pension without any problems.
How can GoMovin assist me with my move abroad?
GoMovin offers an all-in-one solution for international relocations with personal advice, legal support, property service, and cultural integration. We simplify the moving process and make international relocation stress-free, efficient, and tailored to you.
What documents do I need for my move abroad?
You will need your passport, birth certificate, pension statements, health insurance documents, and tax records. Applying for visas and residence permits is also important.
