More and more retirees are moving abroad – the cheaper cost of living and lower taxes lure them there.
That's how a couple from Ulm ended up in Greece.
Sitia - Greece: The tax haven for pensioners.
The holiday country got hold of this title through generous laws that were intended to attract German retirees in particular.
In concrete terms, anyone who spends more than half the year in Greece will also be subject to tax there.
This is an advantage for pensioners, because they only have to pay tax on all income from abroad – including their pension – at only seven percent.
Pension in Greece: 140 square meter apartment for 550 euros rent
Good weather, lower living costs and a lower tax burden.
Sounds like a dream that hundreds of pensioners are already living in Greece.
So did the married couple Manfred and Karin Reuter.
The 65-year-old pensioner and his 63-year-old wife have taken the big step.
They emigrated to the popular holiday island of Crete, as they
tell
Bild.de.
Life in Germany is becoming more and more expensive, for the two of them it was clear what they wanted: "The decisive factor was where we could get the best possible quality of life from my pension of almost 1700 euros," Reuter told the newspaper.
So the couple left their home in Ulm and dared to move to Sitia on Crete.
For only 550 euros rent, the two now live on 140 square meters, with three terraces and only ten minutes from the beach - including a view of the sea.
The additional costs, i.e. electricity, heating, water and Co., are 75 euros per month.
For groceries, cars, medication, mobile phone contracts and cat food for her two cats, there are still 571 euros in expenses.
Results in total monthly expenses of 1196 euros for two people.
This means that the couple can even save 500 euros a month.
For Manfred that would have been “unthinkable” in Germany.
Emigration: Please vote.
Emigrate in retirement: This should be considered
But as nice as that sounds, it is of course not that simple.
Emigrating to a foreign country requires a lot of preparation.
You have to take care of residence cards, social security or bank accounts, among other things.
If you are planning to emigrate at an advanced age, you should also inform the German pension insurance about it.
After all, they then have to transfer the money to another country.
Equally, local medical care should meet good standards.
Our free pension newsletter provides you with all the relevant news on the subject on a regular basis. Here
you can register.
What many also forget: When you emigrate, you also leave family, friends and social contacts at home.
In the new environment, you first have to reconnect with the social environment.
Potential language barriers should also not be ignored.
(ph)
List of rubrics: © IMAGO/Cavan Images