The Global Citizen Solutions, a London-based organization specializing in global citizenship, visa and relocation services in Europe and the Caribbean, released the ranking by comparing 46 retirement and passive-income residence programs based on quality of life, travel freedom, pathways to citizenship, application procedures and costs.
It also assesses factors including safety, environmental quality, income requirements, processing times, tax rates, and routes to permanent residency or citizenship.
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An aerial view shows the city of Montevideo, Uruguay, Feb. 9, 2024. Photo by Reuters |
Uruguay is widely regarded as one of the most politically and economically stable destitions in the world.
Applicants can seek permanent residency directly without first obtaining temporary residency. Although the report lists a stable monthly income of $1,700, Uruguay does not set a fixed minimum income for general permanent residency, requiring instead that applicants show they have sufficient financial means to support themselves, the report said.
The country also has one of the shortest naturalization pathways in the ranking, at three years for married applicants and five years for single applicants.
Foreigners also gain access to quality public and private medical services, often through affordable local healthcare plans.
Mauritius ranked second on the list, followed by Spain and Costa Rica.
Portugal rounded out the top five.
Europe remained the most represented region, with six countries in the top 10, which has no Asian representatives.