Argentina is an appealing choice for a retirement destination, and many expats are heading that way. It’s best suited for those who are looking for a European feel in a South American country. Thanks to its European-style culture, Argentina is sometimes less daunting for those looking to move abroad for a better cost of living, but who would normally feel out of place in a South American country. It also has plenty of different landscapes and climates, thanks to its massive size.
There’s something for everyone in Argentina, from the northern tropic to the southern arctic climates. The process involved in relocating for retirement will require a visa, but there are a couple of different possibilities.
For the pension visa, you must have a steady income of at least $2,000 USD per month. You’ll have to supply proof of this income and its consistency and have a certificate issued by an international government or organization that verifies all of it. Your pension funds must be kept in a bank within your country of origin, and you’ll also be asked to supply three pay stubs as further proof.
There is another option, similar to that of the pension visa, called the financier visa. This one holds the same income requirements as the pension visa, but some of the other stipulations are a bit different. The monthly income can come from annuities, dividends, investments, a business, or a settlement. You simply need to have a consistent flow of income that meets the $2,000 monthly requirement and proof of its consistency. This income must be kept in an Argentine bank in order for you to apply for this visa. This visa option has been most popular among the crowd of expats who wish to retire early and aren’t yet drawing a pension.
Cost of Living
Argentina boasts a European-like feel with a much lower cost of living. It is estimated that the cost of living in Argentina is about 1/3 what it costs to live in the United States, on average. While it isn’t the cheapest country in South America in which to live, it is more cost efficient than some places, like Brazil or Venezuela.
Since Argentina’s economy fell into a recession earlier in the 2000s, the Argentine Peso has had an exchange rate that doesn’t quite stack up the U.S. dollar. Currently, one Argentine Peso is equal to $0.057 USD. This means that you are likely to be able to live a full and comfortable lifestyle for about $1,000 USD per month (depending on where you choose to live).
You can typically find an apartment in Buenos Aires for $570 – $1,100 USD per month, depending on the number of bedrooms you’ll need. Outside of the city, you can find the same sized apartments for prices ranging from $450 – $900 USD. With the economy on the rise, there has been growing opportunity for those with hopes of opening/running businesses and for those investing in real estate, so you could easily buy and rent out properties within the city while living in a more rural area and pull in a steady income.
Why Retire to Argentina?
Argentina is the perfect place to retire for those who’ve dreamt of retiring to Europe but don’t want the hefty price tag of European living. In Argentina, your retirement funds can stretch much farther, not to mention Argentina is an ideal place for those who enjoy outdoor adventure. There are tropics to the north, an arctic landscape to the south, and beaches, vineyards, and the Andes Mountains everywhere in between.
You can find canyons, prairies, and the Chaco Desert up in the north as well, in the Pampas region. The central part of the country is where the vineyards are, with some of South America’s best wine. There is also skiing in this area, in and around Mendoza. In the south is the Lake District, where it is popular to go for skiing, hiking, and water sports.
If you want to live in a thriving metropolis, Buenos Aires could be just right for you. It’s full of European culture, art, and museums. The city (and the country, for that matter) is modern and developed and highly educated, and prices have still remained low in comparison to those of the United States or Europe. You could likely purchase a retirement property in Argentina far superior to what you could buy in the United States for a much lower cost. On top of all of those perks, you may not even have to learn Spanish. Of course, it would be helpful and respectful to learn some, but you can get along without it if you need to as well. English is spoken somewhat among the locals, so you can nearly always find someone who can speak it.
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Photo Credit: Yoavlevy10 (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC BY-SA 4.0-3.0-2.5-2.0-1.0 (https://creativecommons.org/licenses/by-sa/4.0-3.0-2.5-2.0-1.0)], via Wikimedia Commons
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