How to retire in Italy
Italy does not have a retirement visa program, so your best bet is to apply for an elective residence visa. We must note that Italy has changed its laws for more tax flexibility since 2019.
You will need to provide proof of your annual income from a pension, 401 (k) or other liquid assets. The minimum is currently around $35,000 for one person and between $40,000 and $70,000 for two people. You will also need to show proof of a rental agreement and medical insurance. Once you are a resident of Italy, you are eligible for the National Health Care System, which is ranked second in the world by the World Health Organization. Costs vary by region, but a person can easily pay less than $400 per year.
Adventure seekers already know that Peru offers the incredible Machu Picchu, beautiful beaches and fascinating ancient culture. For retirees, a couple can live very comfortably on $1,500 a month.
In the popular expat destinations such as Arequipa and Cusco, a one-bedroom apartment rents for around $200 a month, and a better three-course meal for two costs between $10 and $12. Public health care is also quite affordable, but expats prefer to have health insurance and use private health clinics. The main health problem for newcomers is altitude sickness in the high altitudes of Peru.