Retiring in Ireland: a complete guide
Learn everything you should know about retiring in Ireland, including the pros and cons, the average cost of living, and which visas you need.
Summary
Ireland is a popular retirement destination due to its high standard of living.
The country offers a range of retirement options, from vibrant cities to tranquil towns.
US retirees will need to apply for a retirement visa to retire in Ireland.
Unbiased can connect you with a financial advisor to help you plan your retirement and reach your goals.
What are the pros and cons of retiring in Ireland?
Retiring in Ireland has many benefits, but the “Emerald Isle” also has some negatives you need to consider when weighing up your options.
Pros of retiring to Ireland:
Natural beauty: Striking natural landscapes and attractions.
Rich history and culture: Ancient castles, historic buildings, and old traditions are in abundance.
High standard of living: Ireland ranks 20th on Europe’s Quality of Life Index in 2024.
Low crime rates: Crime in Ireland is minimal, especially outside cities.
Cons of retiring to Ireland
Housing costs and availability: Competitive housing market with high rental costs.
Medical access: Potential wait times for public healthcare appointments.
Emigration laws: Strict requirements for retirement visas.
What are the best places to retire in Ireland?
These are some of the best places to retire in Ireland:
Killarney: Killarney, a tourist hub in County Kerry, boasts attractions like Killarney National Park and a range of festivals and events like the Ireland Folkfest and the Killarney Walking Festival.
Dalkey: This Dublin suburb hosts numerous festivals annually, including the Dalkey Book Festival and annual jazz and seafood events. It’s also the hometown of iconic historical figures like George Bernard Shaw and Van Morrison.
Galway: Galway pairs the appeal of urban living with cobblestone roads and intriguing small businesses. The city is well known for its cultural richness and regularly hosts Irish music, film, dance, and sporting events.
Cork: Home to many historic landmarks, modern attractions, landmarks like St. Fin Barre’s Cathedral, theaters, galleries, and ample parks and green spaces.
What age can you retire in Ireland?
The typical retirement age in Ireland is 65; however, there is no set retirement age.
If you wish to retire in Ireland, you will need to earn at least €50,000 per year and have access to a lump sum in case of emergencies.
What is the average cost of retirement in Ireland?
The estimated average monthly cost of living for a single person in Ireland, without rent, is around €996.60. A monthly pass for public transportation will cost you roughly €100.
Basic utilities for a 915-square-foot apartment can cost as much as €217.41 per month, and a 60mbps internet line with unlimited data will cost roughly €47.21 per month.
A one bedroom city center apartment could set you back €1,614.43 a month, or €1,423.46 outside of a city center.
Do you pay taxes after retirement in Ireland?
Your Irish retirement visa won’t enable you to work in Ireland, but you must still file your taxes there. Your retirement income won’t be taxed as long as it is earned outside of Ireland.
You will also need to file your US taxes when retiring in Ireland.
Under the US’s Totalization Agreement with Ireland, if you have Social Security credits in both the US and Ireland, you could benefit from one or both nations as long as you meet each country’s requirements.
What programs are there for emigrating to Ireland?
You can live in Ireland for up to three months before you will be required to apply for a visa.
You will need to renew this visa each year for the first five years of your residence in the country. After that, you can apply for a five-year visa and then permanent residency after ten years of residency.
What visas do I need to retire in Ireland?
To retire in Ireland, you will need a retirement visa.
The application criteria include an income of at least €50,000 per person per year and proof of a lump sum (around $250,000) that can be used in emergencies.
What are my healthcare options in Ireland?
Both public and private healthcare are available when you retire in Ireland.
Public healthcare is billed on a per-visit basis, with emergency room visits costing around €100 and doctor’s appointments costing €50 per consultation.
Private health insurance policies may cost around €1,500 per year.
Is it safe to retire in Ireland?
Ireland is one of the top 15 safest countries in the world in 2024.
The nation has a low risk of natural disasters, offers safe and reliable public transport systems, and experiences a low incidence of petty crime and even lower violent crime rates.
What is the housing market in Ireland?
Ireland’s housing market is known for being competitive, and rental and purchase prices for properties are also relatively high.
You can expect to pay around €418.83 per square foot for a city center apartment and €330.51 per square foot for an apartment outside the city center.
Here are the average house prices in some of Ireland’s most popular cities and towns:
| Area of Ireland | Average House Price |
|---|---|
| Dublin | €485,000 |
| Mayo | €220,000 |
| Donegal | €181,250 |
| Longford | €165,000 |
What happens to my retirement benefits if I retire in Ireland?
Depending on whether you meet certain requirements, you can claim benefits from either the US, Ireland, or both.
If you don’t have enough US work credits to qualify for regular benefits, you could claim a partial US benefit based on both US and Irish credits.
If you retire in Ireland, both paid and credited contributions count towards benefit eligibility.
Is Ireland a good place to retire?
Retirement in Ireland gives you access to the country’s unique culture and historical heritage, natural beauty, and robust public facilities, such as transportation and healthcare.
Ireland has a culture steeped in history, picturesque natural landscapes, a high standard of living, and low crime rates. Its healthcare system provides access to both public and private options for retirees.
Although its housing prices are relatively high, retiring in Ireland may be a good choice if you have earned enough money to meet the retirement visa criteria.
Unbiased will match you with an expert financial advisor who can provide all the advice you need for your retirement.
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