The Minimum Income You Need To Relocate to These 5 Expat-Friendly Countries This Year
The thought of packing up and moving to another country is tempting for many, but not all countries are the same in terms of welcoming expats. Some countries have very stringent requirements about who can move there, while others just require that you are able to support yourself and, if applicable, your family.
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Powered by Money.com - Yahoo may earn commission from the links above.In some cases, you’ll need to show that you have enough money or income to do so without working, as many countries have strict requirements about hiring expats over citizens.
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So how much does it cost to relocate to another country? Here’s what you need to know about relocating to these five countries.
Moving to Spain interviewed Americans who are living in Spain, and many of them reported Spain to be welcoming to U.S. expats.
To live in Spain without working, you’ll need a non-lucrative visa. A spouse, children and other related household members can also apply on the same visa application.
To apply, you need to show that you have enough money or income to reside for at least the first year. You will need to show that you have 400% of Spain’s Public Multiple Effects Income Indicator, or IPREM, for a single person, and an additional 100% for each additional person on the application.
In 2025, the IPREM is about $32,000 for a single person. An additional $8,000 per year would be required for a spouse and for each dependent.
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According to Forbes, Portugal has seen an influx of American expats, increasing 239% from 2017 to 2022. The country is safe and inexpensive, and the locals are friendly, Forbes reported.
One popular way to live in Portugal as an expat is on a D7 visa. This visa allows those with stable non-work income, such as pensions or investments in real estate, intellectual property or trusts, to live in Portugal.
To qualify, you must be able to show that you make at least Portugal’s minimum wage of 870 euros in passive income per month, according to Global Citizens Solutions. That comes out to nearly $1,000 in U.S. dollars. You must also provide Portuguese bank statements with a minimum balance equal to one year’s minimum wage, per Global Citizens Solutions.
According to International Living, Costa Rica is a top destination for expats, as it provides a nice climate, a welcoming culture and an affordable cost of living.
As Forbes reported, there are multiple avenues you can take to get a visa in Costa Rica — all of which have different income or financial requirements. Retirees can get a Pensionado residency visa if they can show at least $1,000 per month in retirement income, such as a pension or an annuity.
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