Where Are the Best Places to Retire in the Caribbean? Which is the Best Caribbean Island to Retire On?
Are you approaching retirement and considering making a move to sunnier shores? Wondering where are the best places to retire in the Caribbean?
With its year-round warm climate, laidback lifestyle, breathtaking landscapes, tax incentives, relatively low-hassle paths to residency for retirees and ease of access from key gateway cities in North America and Europe, the Caribbean is the perfect place to enjoy an idyllic retirement for many individuals.
However, the region is large and varied comprising 700 islands, cays and reefs spread across an area spanning one million square miles.
With pros and cons differing from location to location, which would be the best Caribbean island to retire on for you? Where is the most affordable place to live in the Caribbean? Where is the safest place to spend your retirement in the Caribbean?
This guide covers all this and more. So, for individuals starting to plan their retirement, here’s our pick of several of the best places to retire in the Caribbean and Central America…
The sun-splashed beaches and bustling resorts of the Dominican Republic may well be better known as the Caribbean’s leading vacation destination, but the country is also a fantastic place to live. The Dominican Republic offers some of the best beaches in the region, high quality real estate and a fantastic lifestyle. Applying for residency in the Dominican Republic is relatively straightforward. For those who like the idea of living in a secure gated community with amenities on site, be sure to take a explore your options in Punta Cana, Cap Cana and Casa de Campo. For those who prefer somewhere quieter and off the beaten path, the quiet beach town of Las Terrenas on the country’s northern coast is simply spectacular and the ideal place to retire in the Dominican Republic. Condos close to the beach start at approximately US $100,000.
Located just 50 miles off the coast of Florida at its nearest point, the 700 islands that make up The Bahamas are simply spectacular. So close to the USA yet so different in many ways. With some of the best beaches in the world, world-class golf courses and marinas and a very high standard of living, The Bahamas offers a fantastic lifestyle. An investment in real estate is the most straightforward means of retiring in The Bahamas. To qualify for permanent residency, foreign nationals are required to invest at least US $750,000 in real estate in the country. Investment options of all kinds are available from comparatively modestly priced condos by the beach through to opulent luxury home.
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Benefiting from a magnificent coastline fringed by white sand beaches and the second longest barrier reef system in the world and very attractive property prices, Belize has firmly established itself as a top retirement destination. The country’s Qualified Retired Persons (QRP) Program offers qualifying applicants the right to retire in Belize, remain in the country for as long as they are participants in the program and enjoy benefits such as exemption from taxes on income derived from outside Belize and importing personal and household items duty-free. Offering affordable real estate and proximity to the beaches and reefs, Ambergris Caye on the Caribbean coast is one of the most popular destinations for retirees. Enjoy world-class snorkeling, diving or just relaxing on the beach. For those looking for somewhere quieter, take a look at the Placencia Peninsula which is located to the south of Ambergris Caye. Condos for sale in Belize start at approximately US $150,000.
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Aruba, Bonaire & Curacao
Located in the southern Caribbean just off the northern coast of south America, the Dutch Caribbean islands of Aruba, Bonaire and Curacao offer year-round warmth, a very high standard of living, high quality real estate and residency permits for financially self-sufficient retirees. But, why retire in Bonaire specifically? The small island is quiet, tranquil and welcoming and is renowned for its world-class diving waters. In contrast, Aruba is larger and more vibrant. Individuals thinking about retiring in Aruba will discover golf courses, some of the best beaches in the Caribbean and excellent conditions for water sports such as wind surfing. Curacao is the largest and most populous of the 3 islands. Those considering retiring in Curacao can enjoy a great entertainment scene, a welcoming cosmopolitan vibe and an enticing package of tax incentives.
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Spanning roughly 30 square miles, the tiny island of Roatan (situated in the Bay Islands just off the coast of Honduras in the western Caribbean Sea), epitomizes the Caribbean dream: charming, welcoming, laid back and unspoiled. Residence permits make retiring in Roatan relatively simple, property prices are very attractive and the cost of living is relatively low. All in all, the island is one of the cheapest places to retire in the Caribbean, with 2 bedroom tropical-style wooden beach houses just steps from Roatan’s white sand beaches starting at approximately US $220,000.
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The Eastern Caribbean island of St Lucia is renowned for its dramatic scenery: golden sand beaches, cascading waterfalls, lush rainforest and the iconic Pitons – twin volcanic spires which emerge majestically from the sea. The breathtaking landscape is one of the major attractions for retirees considering the best place to retire in the Caribbean. The island boasts many other advantages. St Lucia is ideal for indulging all kinds of hobbies from teeing off on the golf course to sailing and all kinds of water sports. A straightforward process for obtaining residency as well as citizenship provide straightforward pathways for those looking to retire in St Lucia.
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St Kitts & Nevis
For those looking to enjoy retirement in the lap of luxury, look no further than St Kitts & Nevis. This twin-island Federation is famed for its old world charm, luxurious real estate, a very attractive tax environment (with no income, capital gains or inheritance taxes) and the world’s longest established citizenship by investment program which provides a smooth pathway to enjoying retirement in St Kitts & Nevis. Best of all, the Federation offers the ultimate luxury: a tranquil, relaxing lifestyle surrounded by stunning natural beauty.
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In recent years Panama has emerged as a popular destination for retirement. The country has a well-established retiree residence program offering a wide range of discounts on healthcare, entertainment and travel. City lovers will love the cosmopolitan capital Panama City, while beach lovers will swoon over the Bocas del Toro archipelago off the country’s Caribbean coast. With its stunning beaches, beautiful reefs and pristine rainforest, Bocas del Toro is a tropical dream destination ideal for those looking to get away from it all. Located at the tip of Panama’s Azuero Peninsula in the province of Los Santos, the beach town of Pedasi is another popular place to retire in Panama. 2 bedroom homes for sale in Pedasi near the oceanfront start at approximately US $250,000.
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Puerto Vallarta, Mexico
While located on Mexico’s Pacific coast rather than its Caribbean coast, we couldn’t not include Puerto Vallarta in this guide. With its beaches, restaurants, cafes, shops and art galleries, Puerto Vallarta is a really popular place to retire in Mexico. The city, which is easily accessible from the West Coast of the USA and Canada, offers a fantastic lifestyle with plenty to see and do. The cost of living is relatively low as in other parts of Mexico and medical care is of a high quality. Those looking to buy a home in Puerto Vallarta can find villas and condos just a stroll from the beach starting at approximately US $150,000.
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Find Out More About the Best Places to Retire in the Caribbean
So, where exactly is the best place to retire in the Caribbean and Central America? Well, that depends on your personal preferences and what you are looking for in a retirement destination.
However, whether you’re looking for a quiet place to out your feet up, relax and unwind or a vibrant destination for an active retirement, there are plenty of options to consider from across the region.
To find out more about the best Caribbean island to retire on for you, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
To discover more, explore property for sale in the Caribbean ideal for retirement on our website and find your perfect property with 7th Heaven Properties.