What if I told you that on the American continents lies a land where peace, prosperity, and passion co-exist in equal harmony, making it one of the best places for an expat to move to in the world? If you thought I was talking about the United States or Canada, sadly you would be mistaken – as the center of opportunity and freedom in the Western Hemisphere has shifted further south, now making some of the best places to live in Latin America!
Stretching from the northern Mexico border, to the very tips of the Tierra del Fuego of Chile and Argentina, this region spanning both North and South America has always attracted tourists and expats alike with its promises of a warm, Latin vibe, even hotter beaches, amazing food, and a laid-back lifestyle. But in recent years, this desire has grown all the more current, with the constant political changes in the Western world, and most not for the better.
For the prospective expat who is looking to move to a land not so far, far away, but still have all the benefits that places like Eastern Europe and Southeast Asia enjoy, than look no further than Latin America – the region that completes my personal trinity of best regions on Earth to move to, explore, and discover a brand new life for yourself. So without further ado, and in no particular order, here are my top 5 best places to live in Latin America!
PANAMA
| Best For: | Entrepreneurial-Minded Expats Looking for A Business-Friendly, Tax-Free New Home |
| Ease of Establishing Residency: | 6/10 |
| Language Barrier for English Natives: | Very Little to Medium |
| Affordability of Housing: | 6/10 for renting, 6/10 for purchasing |
| Affordability of Costs of Living: | 7/10 |
When you thinking of the definition of international, you may not realize it, but you’d be also thinking of Panama. Considering that 5% of the entire world’s trade goes through the nations famous Panama Canal, which connects the Atlantic and Pacific Oceans, this nation fixated at the southern-most tip of North America has long been at the center of global commerce, and as a result, has become exposed to a great deal of wealth and stability – something that is not commonly found in the region. The capital of this thin, curvy-shaped country is also situated right smack-dab on the canal as well, and Panama City has now for many years been lauded on its very modern development and conveniences, as well as its picture perfect high-rise skyline, looking out over the Pacific Ocean.
In fact, in some circles, Panama City has become known as the Singapore of Latin America, for not only its future-forward city-scape, but also for being a hub of free-market capitalism and trade, due to the fact that Panama is one of the few countries that is considered a true tax haven. Taxes on income, capital gains, estates, or corporations are completely non-existent (for offshore entities that engage business solely outside of the jurisdiction), and for off-shore companies who want to come to Panama to work locally, only local taxes will be charged as a result.
Another great perk drawing foreigners in as brand new expats is the relative ease and affordability of obtaining Panamanian permanent residency. Though the costs may vary due to various governmental and legal fees, all things considered you would be able to gain permanent residency in the country for the small price of $5000, which will be deposited in a bank account in the country. This would be done through the Panama Friendly Nations Visa, which is available to 50 countries, including the US! And after five years of being a resident, you and your family would be able to apply for citizenship.
To be fair, obtaining citizenship is a far harder prospect than it looks on paper, and the stories of the government denying certain individuals who haven’t really lived in Panama or contributed to the community in some ways have happened more often than not – however the option does exist, and is definitely still a perk for those looking for a second residency or passport in a tax-free (or friendly) nation, with friendly people, and modern infrastructure.
PERU
| Best For: | Young to Middle Age Expats looking for a Relaxing Beach and Mountain Life |
| Ease of Establishing Residency: | 5/10 |
| Language Barrier for English Natives: | Medium to Medium High |
| Affordability of Housing: | 6/10 for renting, 7/10 for purchasing |
| Affordability of Costs of Living: | 6/10 |
When most people think of Peru, they probably first think of action scenes in the Indiana Jones movies, or the majestic Inca city of Machu Picchu. And though these images and impressions aren’t too far removed from reality, the truth is that this country located in northwest South America is far more diverse and incredible then even what the movies and magazines might show!
Take the capital of the country for example – Lima, which in recent years has become a little under-the-radar expat haven, due to its temperate climate, amazing restaurants, cleanliness, safety, and a jaw dropping viewpoint off the cities cliffs and beaches at the edge of the Pacific. But of course, if you are still looking to put your boots on the ground somewhere in the high Andean mountains, than Peru more than delivers on that front too, giving the prospective expat truly the best of both worlds.
For expats willing to take the leap of faith, and move to one of Latin America’s quickly and quietly growing shining stars, a permanent residency visa can be had after staying in the country on any visa for 3 years. Usually these visas consist of the Rentista Visa, for retirees who can prove they are making a permanent income of $1000 USD a month (plus $500 USD for each dependent), the Investor Visa, which is allotted if you invest $154,000 USD and up, as well as the Work Visa, which enables you to work and live in the country once offered a job by a Peruvian company, or and offshore one with offices there.
Though the immigration requirements aren’t as easy as for some other countries on this list, and the current Peruvian government hasn’t truly done many favors for their reputation abroad during the recent pandemic, considering that the country had some of the tightest lockdown restrictions in the world, Peru still remains a solid option for the mid-to-long term in the mind of expats whose priority is a safe, solid country, with mountains, beach, and plenty of bliss.
URUGUAY
| Best For: | Retirees Looking for a Peaceful, Safe Country, Expats with Families and Young Children |
| Ease of Establishing Residency: | 5/10 |
| Language Barrier for English Natives: | Medium High to High |
| Affordability of Housing: | 7/10 for renting, 6/10 for purchasing |
| Affordability of Costs of Living: | 7/10 |
Seemingly caught between the old world and the new, always moving forward but never forgetting the past, Uruguay seemingly lives in a time and place of its very own. To see beautiful old-school cars riding down the streets of Montevideo, the smell of meat grilled to perfection wafting in the air, while old men at cafes, on the famous boardwalk of La Rambla, talk about their glory years over a glass of local wine, while looking out towards the families full of life enjoying their time at the beach across the way – is an indescribable mix of classy, cool, and vibrant Latin American soul. Quite simply, it is this very combination of vintage, timeless classiness that really defines Uruguay as an amazing expat destination!
Located in the south-eastern corner of the continent, smashed between Argentina to the west, and Brazil to the North, this small but incredible South American country has for years been a safe, beautiful getaway destination for generations of European expats and retirees who wanted to set up shop in a place where ‘enjoying the simple life’ isn’t just some slogan, but truly a way of life. Rich with amazing culture, delicious food, as well as coastline and free open land-space galore, Uruguay truly takes the best parts of living in Latin America, and combines them into a beautiful conglomeration, with an even more beautiful heart.
As such, it shouldn’t come as much of surprise to hear that the warm-hearted people of Uruguay also make immigrating to their country a breeze as well, making them a very attractive option for those looking to move their families or themselves to a country where the only real requirement to obtain permanent residency is proof of a relatively reasonable monthly income of around $1500 USD.
Obtaining Uruguayan citizenship is also very easy and streamlined as well – however the only caveat to going down both the residency and citizenship routes is the pretty long amount of time you are expected to stay in the country per year for the first 3-5 years in order to qualify, as well as maintain your immigration status. This translates to roughly 8-10 months out of every year sticking put in your new homeland – and though for some this can seem like quite a time commitment, if you’re the kind of expat who can manage to kick back, relax, and enjoy the classy, cool laid-back lifestyle of one of Latin America’s true wonders, time will seem to fly on by, even if in Uruguay it feels like time happily never moves at all.
MEXICO
| Best For: | Expats of All Shapes and Sizes |
| Ease of Establishing Residency: | 8/10 |
| Language Barrier for English Natives: | Low to Medium |
| Affordability of Housing: | 7/10 for renting, 7/10 for purchasing |
| Affordability of Costs of Living: | 7/10 |
Of all the countries in Latin America, it is quite possibly that the one with the second largest population (only dwarfed by Brazil), has the largest amount of potential for expats coming from just about every background imaginable, to find a great place to move to, and feel apart of their new community. It is here in the land of the ancient Aztecs, Mayans, and Olmecs, in a land comprising of nearly 2 million sq kilometers, making it the 14th biggest country on the planet, that the ever diverse, ever enchanting nation of Mexico can offer up enigma of possibility; the highest highs and the lowest lows, as well as every good, bad, and ugly thing in between.
Partially due to its size, as well as due to each Mexican state having its own distinct flavor, culture, and history, the land ‘south of the border’ for us Yanks has the rare distinction of claiming to be one of the most dangerous countries in the world, and a haven for drug cartels, as well as one of the best places to live, let alone one of the most popular travel destination on Earth. Of course, these distinctions do not apply as a whole, but rather differ with each individual area in the nation, and for what its worth, prospective expats ranging from party animals to families with children, to even elderly retirees and digital nomads, can still find a safe, warm, beautiful place all over Mexico to call their new home.
In fact, part of what makes Mexico very appealing for most people is the very welcoming nature of the people – the nation is not only rated as the easiest in the world for expats to make friends in, as well as one of the most popular destinations for expats to move to globally, but also has proven to be one of the most open to foreigners as well, with the country remaining one of the very few nations on Earth that has held its arms out open to the world during the corona-virus pandemic. This also translates to the ease of immigration to this vast, beautiful country, which not only gives many nationalities a 6-month tourist visa right off the bat, but also gives many possibilities of obtaining temporary and permanent residency, which later can turn into a citizenship which allows for travel to 158 countries without a visa!
Essentially, if you have a job in the country, are planning to retire, have family already there, plan to go to school in the country, or can prove economic stability, you can obtain temporary residency, which after 4 consecutive years will turn into a permanent one. After five years in the country, which also includes the 4 years you stayed with your temporary residency, you can then apply for citizenship – and the rewards of living on the beach, a cold cerveza in hand, laughing with your new found friends, and enjoying all the best Mexican food you could possibly imagine, will be well worth your efforts!
COLOMBIA
| Best For: | Fun-loving Thrill Seekers, Digital Nomads with a Lust for Adventure and Friendly People |
| Ease of Establishing Residency: | 7/10 |
| Language Barrier for English Natives: | Medium to Medium High |
| Affordability of Housing: | 8/10 for renting, 7/10 for purchasing |
| Affordability of Costs of Living: | 6/10 |
It would be impossible to end this list however without including one of my personal favorite places in the world – the incredible South American nation of Colombia. It wasn’t too long ago that this beautiful nation situated between the Pacific Ocean in the west, the Caribbean Sea in the North, and covered by the beautiful foothills of the Andes mountains, was once regarded as one of the most dangerous places on Earth, brought to its knees by the drug wars, murders, and cartel violence which made Colombia an absolute no go zone.
Today however, nothing could be further from the truth – in the span of less than a generation, Colombia has managed to become not only one of the best places in Latin America for prospective expats to move to, but also become one of its freest economies as well. Commerce is absolutely thriving here, and the development of new, exciting businesses all over the country, has been slowly but surely bringing in plenty of digital nomads who have found their mecca in mountainous cities like Medellin and Bogota, while those who prefer more of the beach life have found their calling in Cartagena, Baranquilla, Santa Marta, and even Cali!
With the nation rapidly opening up to the modern age, to be able to compete with the world’s best as Colombia has been doing, it should also come as no surprise that immigrating to this jaw-droppingly beautiful nation is also being streamlined. In fact, obtaining permanent residency right off the bat is actually fully possible in Colombia, with an investment of around $160,000 USD or more in any real estate property (which in this country will get you a lot for your money!), or local business. After 5 years in the country with permanent residency, you can then apply for Colombian citizenship, which is one of the most powerful in all of South America.
And for those who don’t yet have those kinds of funds to invest yet – never fear, for there are plenty more ways to obtain residency and citizenship in Colombia! With opportunities including but not limited to obtaining a local job offer, to choosing to attend a language school or university, Colombia gives prospective expats of all income levels the ability to move to its beautiful, magical shores, so you can live here in Latin American paradise too! If you’d like to read more about the pros and cons of what makes Colombia one of my favorite destinations to move to in all of Latin America, feel free to read my article that goes in depth on the topic right here!
So there you have it, our top 5 best places to live in Latin America! What do you think about these countries? Have you gone to any of the countries on this list? What are your experiences with life as an expat in Latin America? Let us know in the comments section below!