Want To Retire Abroad? This South American Country Just Beat Portugal and Spain

Uruguay ranks the highest out of 46 retirement-visa programs.

Fewer than four points separate first place from 10th, and the report's authors advise reading the top 10 as tiers rather than a strict ranking.

Spain ranks third overall and last on taxes, a trade-off that often defines Europe's retirement visas.

The best-ranked country for retiring abroad this year doesn't lead in a single category, but takes the top slot by having no weak spots.

Uruguay ranked first among 46 retirement-visa programs in the 2026 Global Retirement Index from Global Citizen Solutions, a residency and citizenship planning services firm. Mauritius, Spain, Costa Rica, and Portugal round out the top five.

A year ago, Portugal led and Uruguay was fourth. Still, the firm has changed its methodology since last year, so it is best to treat the results as broad indicators, not strict rankings.

"This report is intended as a starting point, not a verdict," wrote Patricia Casaburi, the firm's CEO.

One in five Americans told Gallup last November they'd like to move abroad permanently . Still, a visa doesn't mean you'll quickly gain another country's passport: In 10 of the 46 programs, time spent on a retirement visa doesn't count toward citizenship.

How Uruguay Won Without Winning Anything

Uruguay grants permanent residency without a waiting period to applicants who can show $1,700 a month in stable income. Government fees run from $100 to $300.

The is also short. Married couples can naturalize after three years, and single applicants after five years, and the country allows .

New residents can skip taxes on income from foreign capital gains for the year they arrive and the next 10 years, under a law passed in January.

Uruguay also offers stability: It ranked 43rd of 163 countries in the 2026 Global Peace Index, first in Latin America, and the report says it's one of the region's most politically and economically stable countries.

The visa is also particularly helpful for families. It covers spouses and partners, including common-law and same-sex partners, children up to age 25, and dependent parents.

Health care there is provided through mutualistas, nonprofit cooperatives that legal foreign residents can join for a monthly fee of about $100 to $250.

Mauritius and Costa Rica—The Low-Tax Picks

Mauritius, in second, is the tax pick of the top 10: It doesn't tax foreign pensions, and it requires $2,000 a month in income. Local income is taxed at a flat 15%, and the island has no wealth or inheritance tax.