The  office for National Statistics in the UK show that 200,000 people left the country for good in 2007 the huge majority of these were retirees. Many UK pensioners who have had years in the housing market have good amounts of equity in their homes. Pensions sent to many of the popular places to retire abroad can go a long way if you do your sums correctly. Taxation can be a unpleasant surprise for Brits retiring abroad and this is a warning for those who have not thought about this issue seriously.

There are vast differences in taxation, inheritance laws and the availability of health care in each region popular with those seeking to retire abroad.How many of us know that France for example has income tax rate of up to 49.8% and inheritance tax rate of 30%. 

See Property For Sale France

Cyprus income-tax rate of just 5% on pensions for retired residents, as well as low property prices and no inheritance tax. It also scores highly on related issues such as ease of gaining residency, low property buying and selling costs and benefits for pensioners.

See Property For Sale Cyprus 

Panama, now infamously the chosen destination of “back from the dead” canoeist John Darwin and his wife Anne, is also an excellent place for those living on a retirement pension. This is largely thanks to its pensionado scheme, which offers attractive discounts for pensioners.

See Property For Sale Panama

Rules for British who retire to the European Union

UK national Brits have the right to live in any European Economic Area (EEA) country.The EEA is made up of those countries who are full members of the European Union (EU): Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Republic of Ireland, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom, plus Iceland, Liechtenstein and Norway.

Useful Websites concerning retiring abroad

• Later Life. com buying property abroad advice-UK
• Foreign & Commonwealth office-retiring abroad advice
• Preparing to live overseas-uk government advice
• Retiring to Spain- Span age concern