Looking to spend the next chapter of your life sipping cocktails in the sun and sand? According to USA Today, Anguilla is on the “A-list for money-smart retirees.” Here is a complete guide to nine of the best islands for retirees – financial perks included.
- Anguilla: Slightly bigger than the size of Manhattan, Anguilla boasts world-class beaches, over 100 restaurants, swanky resorts, funky dive bars and a melting pot of expats from all over the world. The island offers no taxation on capital gains and no income tax for individuals or companies.
- S. Virgin Islands: The trio that makes up the U.S. Virgin Islands — St. Thomas, St. John and St. Croix — is easy to get to from the U.S. mainland. Passports are not needed, and no work visa is necessary for those looking to take on a second career.
- Puerto Rico: The island of Puerto Rico impresses with cobblestone streets in the old city, dance classes in open-air markets and bars that lay claim to inventing the pina colada. Retirees are exempted from paying taxes on dividends, interest and capital gains.
- Nevis: Across the channel from St. Kitts, Nevis is an island with a small-town vibe and enticements including no tax on inheritances, foreign income or capital gains. Higher net-worth retirees can get a second passport with a real estate buy.
- Antigua: With more than 300 sublime beaches and a festive nightlife scene, Antigua attracts a diverse crowd from around the world. There aren’t any targeted incentives for retirees, but those who want long-term residency status can submit a bank letter or pension statement for approval.
- Curaçao: Thirty-five miles north of Venezuela, this Dutch island is a sophisticated and casual hybrid with storied streets and picturesque bridges. To live in Curaçao, Americans need to apply for a residency permit and submit proof of their financial earnings.
- The Bahamas: Close in proximity to Florida, the Bahamas has plenty of cricket clubs and lively pubs where chatty bartenders pour icy cold mugs of Newcastle Brown Ale. Here, retirees can find one-bedroom apartments priced lower than in American seaside cities.
- Cayman Islands: A pioneer in Caribbean medical tourism, the Cayman Islands — Grand Cayman, Cayman Brac and Little Cayman — offers a friendly tax system, high standard of living and a tight-knit expat community.
- Dominican Republic: In the Dominican Republic, retirees with a monthly income of $1,500.00 from pensions like Social Security are given residency status. Personal items and cars are imported tax-free. Conveniently, the island has seven international airports and five modern highways.