Where are you going to retire? Is a Golden Visa right for you?

There are lots of articles about the best places in America to retire. Delaware pops up frequently as one of the top ten places. Both print and Internet sources abound with comparisons. Forbes, Kiplinger, and U.S. News & World Report run annual lists of the best places to retire with the criteria used to determine the rankings.
But what about another country?
Several years ago, a Deputy Attorney General from the Delaware Department of Justice I knew well retired. And has been in Mexico ever since.
At the same time, I had a client who was building Assisted Living Facilities in Costa Rica.
Last year, a client came to me who anticipates placing a spouse in a Mexican facility.
Another client plans to retire to South Africa.
In my Wednesday night running group, one of the runners is considering retiring to Portugal.
Where is all this coming from?
Apparently, many Americas are retiring outside the United States. Lower living costs and a different life style appeals to many. The U.S. Department of State has information on the considerations and parameters for those looking to retire outside the United States.
https://travel.state.gov/content/travel/en/international-travel/while-abroad/retirement-abroad.html
An Internet search reveals dozens of current websites on the numerous countries welcoming all who wish to become expats. Retirees do not have to be wealthy. Many elderly who need are travelling outside the United States in order to afford quality care.
The Golden Visa
Moving to a foreign country to retire usually requires some form of approval by the foreign government. Retiring to another country is considered permanent residency. The host country usually requires some proof of financial resources for long-term residency. Some countries offer a financial arrangement that, in exchange for purchasing property or investing in the country, a Golden Visa is granted. The more formal name is Residency by Investment (“RBI”). Some countries offer Citizenship by Investment (CBI”).
How much does it take to “buy into” another country for a Golden Visa? Of course it depends on the country.
Portugal
Portugal is especially popular. The Golden Visa/RBI program offers travel throughout the European Union without a visa, as well as the right to live, work and study in Portugal. One can be eligible to apply for Portuguese citizenship in five years. Portugal has a mild climate, quality healthcare, excellent schools and universities, a high quality of life and security.
The cost? EUR 500,000 invested a Portuguese company, locked in for five years. Or EUR 500,000 for research activities. Or EUR 250,000 for support of artistic or maintenance of national cultural heritage.
Options for European Golden Visas are found in the link below.
https://www.henleyglobal.com/residence-investment/golden-visa
Mexico
For those who want to be close to the U.S. and do not have $550,000 or so to invest, there is Mexico.
There is a large expat community (1.6 million) throughout Mexico where English is spoken. Travel is easy compared to Europe. Mexico is familiar as many U.S. stores are available in Mexico such as Walmart and Costco. Most American products are sold in Mexico, including familiar automobiles, which are manufactured in Mexico.
To reside permanently in Mexico, you need to maintain about $200,000 in a bank or investment account and prove monthly income of about $4,000 a month for the past six months. While many retirees rent in Mexico, real property can be purchased. In areas close to the coast a special trust established with a bank is used to purchase real estate.
Medicare does not cover medical expenses in Mexico, or any foreign country for that matter. But good healthcare is available in Mexico for a fraction of the cost in the United States. And it is relatively easy to travel back to the United States.
Taxes
The Unites States taxes its citizens everywhere. Many European countries have tax treaties with the U.S. to even out the tax burden.
https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-resident-aliens-abroad
For the elderly who are concerned with a quality of life that cannot be afforded in the Unites States or for those who want to slow down the pace, retirement outside the country has appeal. Whether the culture of Europe or the convenience of Mexico, becoming an expat may provide a quiet adventure.