Brazil is a country with vast potential, it is a large country filled with incredible natural beauty. There are beaches, tropical rain forests, coastal mountain ranges, lagoons, rivers, and waterfalls.  Brazilians are very friendly and welcoming to visitors, they pride themselves on being hospitable and helpful.  

While not as cheap as some areas of Latin America, Brazil is very affordable.  

Brazil has an excellent real estate market and offers some of the best and most affordable beachfront properties in the world. There are also great opportunities for anyone interested in starting a business.  

Brazilians maintain a positive attitude in the face of any negativity they face and will often sing or whistle while working.  

Brazil also has a very large expat community and is one of our editors top picks for both lifestyle and investment.

Chile offers the highest quality of living in Latin America and is a beautiful and diverse country. There are modern cities with active nightlife and there are small rural villages, mountains, forests, beaches, and lakes. Chile has a little bit of everything.  

City life is sophisticated with international standard dining and shopping and even those who choose to live outside of the city in a more natural location, still enjoy the sophisticated Chilean lifestyle.  

Property prices are affordable, the wine is excellent and there is dramatic scenery everywhere.  

Locals are very welcoming and the US dollar is strong in Chile making the cost of living very affordable.  

Colombia is quietly becoming one of the world’s top overseas havens. From colonial Bogotá to friendly Medellín, these days, Colombia is a solid stable democracy on the move. The country is on strong economic footing, showing impressive growth, boasting a powerful industrial base, and enjoying an energy surplus, thanks to its abundant natural resources. 

Importantly for retirees and expats, Colombia is home to the best health care in Latin America, with well-equipped hospitals and excellent service available at very affordable prices. 

Here you can have a premium lifestyle at a low cost. Monthly expenses might reach 50% to 60% less than back in the United States. 

On top of the fantastic financial opportunities, Colombia offers great beaches, great weather, fascinating culture, and friendly people. 

The Dominican Republic makes establishing residency easy, and the country embraces—even rewards through incentives—foreign investors. In addition, residents can and do work here. 

The Dominican Republic residency program is as good as you can find anywhere. The process is simple and fast. The pensionado visa can be obtained in under two months and comes with tax benefits and other perks. It’s affordable too. If you can prove an income of more than US$1,500 per month, plus another US$250 per dependant, you qualify. 

There is also a clear path to permanent residency and even citizenship. The Dominican Republic allows you to hold two other additional citizenships. This is another reason why the Dominican Republic is becoming a very popular option for people looking to diversify their lifestyle. 

What sets this country apart from other Caribbean islands and nations is its more sophisticated lifestyle—one that is strongly European.  

Santo Domingo, the oldest permanent settlement in the New World, boasts some impressive colonial architecture, along with modern shopping options, theaters, museums, and stadiums (béisbol is a national obsession). It’s the best of island living with the opportunity to take in an opera, go to the game, get in a round of golf, or indulge in some retail therapy. 

Ecuador is home to great weather and jaw-dropping low prices. This country offers a perennial spring-like climate in the mountains (meaning no heating or air conditioning is required), an easy path to a retirement visa, and several well-established expat communities. Plus, local handicrafts make for great import-export business opportunities for those looking to start a business overseas. 

Ecuador is not known for its beaches, and its coast remains relatively undeveloped. Current talk of a new beach road, though, is bringing investor attention to one particular stretch of coast, giving our editors reason to return Ecuador to our active radar screen. 

In Ecuador, we believe Cuenca to be the best place for an expat to retire. It’s not the cheapest, but we think it’s the most affordable place in the Americas to enjoy a city lifestyle. 

There are other colonial cities in Ecuador, but Cuenca is the cultural heart of the country. You can attend the orchestra, a play, or enjoy a tango show or an art opening, and these activities are usually free. 

Mexico offers lots of options and opportunities for the expat. This is a big, extraordinarily diverse country that offers two long coasts, mountains, and colonial cities… not to mention Mayan ruins, jungle, rain forest, rivers, and lakes. 

Mexico is the most accessible country in the region from the United States and Canada. Being in North America, this country is home to many American franchises, from McDonalds to Pet Depot and Walmart to Starbucks. Almost anything you buy in the States is also available in Mexico, though ease of availability would depend on your location (rural and remote areas would offer fewer franchises and order fewer imports). 

For all these reasons Mexico is home to the biggest established population of American expats in the world. Ajijic and Chapala are two of the world’s biggest established communities of North American retirees overseas (though these aren’t our top recommendations in the country). 

Puerto Vallarta is the most affordable turnkey retirement on the Pacific Ocean, here, you could enjoy all the comforts of home at a fraction of the cost (despite the well-established expat community). We also recommend Guanajuato, known as the crown jewel of Mexico’s colonial cities, the Bahía de Navidad, and San Miguel de Allende. 

Mexico is, perhaps, your best choice if you seek an adventure overseas with all the comforts of home. 

Called the “Hub of the Americas,” this country is ideally located for travel to the United States and Canada. Panama makes a great base location from which you can easily explore the rest of Latin America and the Caribbean. 

This country is among our top-ranked retirement choices, regardless of the size of your budget. Panama City isn’t much of a bargain retirement choice. However, Boquete, Las Tablas, Azuero, Santa Fe are a few provinces that have ever-growing, welcoming expat communities. These areas offer good quality living at a low cost. 

The Panamanian people are friendly, and, outside of the city, the atmosphere is generally quite laid back and easy going. 

Uruguay is a very special place that has been attracting expats for a long time. With a European-like, and almost Italian culture, in Uruguay you can expect to find tango clubs, opera houses, orchestras, many fine dining options, cafes, and downhome restaurants.  

The Uruguayans tend to be laid-back, patient, non-violent, non-confrontational, and friendly. Uruguay enjoys one of the lowest crime rates in Latin America, corruption is low and the people are hard-working.  

There is a large and established expat community drawn in by the tranquility of life, the mild seasons, tax friendly legislation, low cost-of-living, and excellent real-estate opportunities.  

Those seeking personal freedom would be hard pressed to find a better place than Uruguay to pursue it. Many expats go to Uruguay to fly under the radar, diversify their financial assets, obtain a second citizenship, or even live off the grid.