5 Best Countries Where Your Money Will Be Safest If Your Presidential Candidate Didn’t Win
Written by
Kerra Bolton
Edited by
Zuri Anderson
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Canada and Europe are often touted as the places many Americans say they would relocate to and protect their money if their presidential candidate didn’t win this year’s election.
However, both places are increasing their residency requirements, especially after the global pandemic normalized digital nomads. Even “easy” places like Portugal are tightening up their residency and immigration environments.
Here are the five best countries to relocate to and keep your money safe if your presidential candidate didn’t win.
Panama
Jackie Lange, owner of Panama Relocation Tours, said, “Panama rolls out the red carpet for retirees.”
“All government fees are waived to get a visa,” Lange continued. “A single person only needs to show $1,000 a month in lifetime income to qualify. A couple only needs to show $1,250 to qualify for a ‘pensionado’ visa.”
Lange also said foreigners get a permanent visa. Expats qualify for discounts like 25% off airfare to anywhere in the world, 20% off at restaurants, 20% off medications, 50% off at movie theaters, and 25% off utilities like electricity and water.
“But if you do not have a pension, you will need to get a Friendly Nations Visa, which requires $200,000 invested in real estate or $200,000 invested in a three-year CD,” Lange said.
Mexico
Ellen Flowers, the co-founder and editor of The Perennial Style, said Mexico is consistently one of the top choices for affordable living. Flowers has traveled to over 40 countries.
“With a low cost of housing, food and utilities, it’s easy to live comfortably on a budget,” Flowers said. “Cities like Mérida, Puerto Vallarta, and Oaxaca offer vibrant expat communities, affordable healthcare and beautiful surroundings, making it an excellent option for both digital nomads and retirees. Plus, the proximity to the U.S. makes it particularly attractive for Americans.”
Retirees can also live affordably and comfortably in Mexico, even on a fixed income, especially if they create a plan and stick to it.
“It is important for someone to assess their current lifestyle and compare it to Mexico’s cost of living,” said Mariana Lange, founder of Mexico Relocation Guide. “Thankfully, Mexico’s cost of living is 30% to 50% less than the USA or Canada, and other parts of the world.”
Nevertheless, the financial requirements for residency have increased dramatically in the past five years. For example, in 2019, a U.S. resident needed to show a steady monthly income of $1,500. Now, the financial eligibility for Americans to have temporary residency is $4,350 per month for at least six months or more.
Indonesia
Bali is also touted as an affordable destination, especially for digital nomads.
“Rent can be incredibly cheap, and you can live well on a modest budget,” Flowers said. “The island is known for its stunning landscapes, warm weather and a huge community of remote workers.
“While certain touristy areas can be pricey, if you live like a local, Bali offers exceptional value for money — especially when it comes to food and daily expenses.”
Costa Rica
Joe Cronin, president at International Citizens Insurance, said Costa Rica has earned a special place in the hearts of expats thanks to its “exquisite” scenery, hospitable people and focus on sustainability.
“The cost of living in the country is quite reasonable, especially in areas that are farther from the capital city of San Jose,” Cronin said.
“They have also introduced relatively easy processes for visa applications for digital nomads, which makes it easier for foreigners and remote workers to stay in the country longer.”
Nonetheless, like any relocation, taking out expatriate insurance is essential to cover oneself so that one can benefit from the great medical care option in Costa Rica, which entails both private and state-owned services, Cronin said.
Vietnam
Cronin also recommended Vietnam as a favorite choice for expatriates due to its low cost of living and rich culture.
“The Vietnamese cities such as Hanoi or Ho Chi Minh City boasts of affordability, vibrant lifestyles, and welcoming community,” Cronin said. “Various forms of visa options like long-term stay permits have also been introduced in Vietnam, which will no doubt help foreigners integrate themselves in the country more easily.”
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