What to find out first

Retiring overseas is very different to going abroad to work. Your income is likely to remain more fixed and you will need to look for routes other than work to meet people and settle down to life in your new community. To ensure that your retirement abroad is a success, you'll want to find out as much as possible about the realities of living as a retired person overseas before you make your move.

Residency requirements
Establish whether there are any restrictions on retiring to your country of choice, such as a minimum level of income.

You can find out about residency requirements by contacting the country's consulate in the UK or the British Consul abroad.

Trial period
Is your chosen country the place you think it is? One way to test this out is to live there for a trial period. This will enable you find out crucial information about your destination – for example, what it's like at different times of the year, the standard of the local amenities, the prices of items such as food and clothing, and variations in climate.

It should be possible to get a fixed term let or possibly an extended holiday rental in low season.
To find out how the locals really live, you could try a house swap. Leading house swap organisations include Homelink tel 01962 886 882 and Intervac tel 01249 461 101. Make sure you sort out insurance and billing issues before doing a house swap.
It's helpful to talk to other people who live in the country you want to retire in order to find out more about what it's really like. Using the Internet is a great way to make links with expats and learn from their experiences. The links at Expat Expert list many of the useful sites dedicated to expat life.

Affordability
Can you afford to live in your chosen country? Will your pension, private or state, cover all your needs? The way to establish this is to do some financial planning before you go.

The Foreign and Commonwealth Office advises people looking to retire abroad to start by working out exactly what their retirement income will be.
You can contact the Retirement Pension Forecasting and Advice Unit (RPFA) on 0845 3000 168 for a state pension forecast, or the Inland Revenue if you are already living abroad. Entitlements can vary according to your country of residence and you should establish whether you will receive pension increases in your country of choice.
Contact the Inland Revenue and seek independent tax advice (link to specialist tax advice) to assess your tax liabilities.
Carrying out some research into local prices will then enable you to see how far your money will go.

Researching your destination country
Read as much as you can about your destination country.

You can apply for a comprehensive country profile on our Barclays International Online Banking Service for the destination of your choice.
There are also many books published which may help you. Retiring Abroad (Survival Books Ltd 2002, ISBN 1901130568) by David Hampshire and Jim Watson, is ideal for those planning a move.
Age Concern has a leaflet on Retiring Abroad, which can be found on their website. It also has a Spanish arm for those planning to retire there: ACE Spain, Apartado 157, 07650 Santanyi, Mallorca, Spain (tel: 00 34 971 653919).

Getting to and from your destination
Consider access to your destination. If you want to return to the UK regularly or if you are expecting people to visit you, you will need to ensure that access is easy, affordable and reliable. You should also investigate internal transport links, such as buses and trains, which can impact on both accessibility and your day-to-day quality of life.

Travel guides, such as the Rough Guides, are a good place to start in obtaining this kind of information.
You could also try local websites and national carrier organisations.

Disclaimer
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