A US ranking has placed Portugal in fifth place for the Best Countries to Retire.The ranking is based on various factors such as the quality of life, the number of people living in the country, and the amount of money they can save.

Based on the scores from people who are 45 years old or older, the Best Countries for a Comfortable 2021 retirement are ranked on the following factors: affordability, tax environment, climate, health care, and property rights.

Portugal has been named as one of the Top Five countries for retirement security. According to the experts at Forbes, its low cost of living and tax laws make it an ideal place for people wanting to retire.

It’s a debate that often pits the interests of rich foreigners against those of the Portuguese. But for the most part, the perks of living in Portugal are attracting many potential residents.

Portugal joins the toplist of this year’s ranking of the best countries for a comfortable retirement. Survey respondents score the country very highly for its pleasant climate, friendly people, and being a place that survey respondents say they would want to live.

Along with a relatively low cost of living, Portugal also has retirement tax laws that have made retirement in the country easier for expatriates. The Non-Habitual Residency tax regime is available to all  individuals becoming tax resident in  Portugal (if they were not Portuguese  tax residents in the previous 5 years),  and the status is granted for a period of  10 consecutive years. In addition, non-Portuguese source income may be exempt under some specific conditions (eg, pensions, dividends and interest that may be taxable on the source State).