Italy vs Greece for Retirement
Retiring in Italy vs Greece
Same data, same definitions, side by side. Where they genuinely differ is at the bottom of this page.
| Italy | Greece | |
|---|---|---|
| Comfortable budget, couple | $3,100 | $2,600 |
| Comfortable budget, single | $2,400 | $2,000 |
| Cost index (U.S. = 100) | 60 | 48 |
| Lowest visa income bar | $2,816 / mo | $3,815 / mo |
| That route | Elective Residence Visa (visto per residenza elettiva) | Financially Independent Person Visa (FIP) |
| Time to residency | 10 months | 8 months |
| Healthcare score | 8 / 10 | 6 / 10 |
| Safety score | 8 / 10 | 8 / 10 |
| Tax treatment score | 8 / 10 | 9 / 10 |
| Currency risk | Yes, EUR | Yes, EUR |
| Document route | Apostille | Apostille |
| Translation required | Yes | Yes |
| English usable day to day | ●● | ●●●● |
Italy
Italy offers something no other European country does: a 7 percent flat tax on all foreign-source income, including pensions, for retirees who move their tax residence to a town of fewer than 20,000 people in one of eight southern regions, available for nine tax years. For an American with a substantial pension that is a decisive financial advantage, and it exists precisely to repopulate the Mezzogiorno. The route in is the elective residence visa, which requires passive income of roughly 31,000 to 32,000 euros a year for a single applicant, a registered lease or property deed before you apply, and an absolute prohibition on work of any kind, including remote work. Italy is also the country where the largest number of Americans have a citizenship claim by descent, although that route was sharply narrowed in 2025. Set against all of this is Italian bureaucracy, which is slower and more variable than anywhere else in Western Europe, and a language barrier that is real outside the major cities.
Greece
Greece competes for American retirees on two things: a 7 percent flat tax on all foreign-source income for fifteen years for retirees who transfer their tax residence, and a cost of living that is among the lowest in the eurozone. English proficiency is high, particularly on the islands and in Athens, and Greeks are notably welcoming to foreign residents. The obstacles are the income threshold for the Financially Independent Person visa, which at 3,500 euros a month is higher than Spain and much higher than Portugal, and a bureaucracy that can be slow and inconsistent. Healthcare is the genuine weak point: the public system was hollowed out during the debt crisis and has not fully recovered, so most foreign retirees rely on private care, which is inexpensive but concentrated in Athens and Thessaloniki.
The real difference
- Greece costs roughly 16 percent less per month for a couple living comfortably.
- Italy has the lower income bar: $2,816 a month against $3,815.
- Italy has materially stronger healthcare on our assessment, which matters more than any other line here if you expect to need it.
Italy or Greece: common questions
Is Italy or Greece cheaper to retire in?
Greece is cheaper. A couple living comfortably needs about $2,600 a month there, against $3,100 in the other, a difference of roughly 16 percent. That is a large enough gap to change what your income supports.
Which has the lower income requirement?
Italy, at $2,816 a month on the Elective Residence Visa (visto per residenza elettiva), against $3,815 for the other. Remember that a visa threshold is what the government asks you to prove, not what you need to live on, and the two numbers are often very different.
Which is faster to get residency in?
Greece is typically faster: about 10 months for Italy and 8 months for Greece. In both cases the decision is rarely the slow part; appointment availability and document lead times are.
Do my documents need an apostille for both?
Yes. Both Italy and Greece are parties to the Hague Apostille Convention, so an apostille is the whole chain for each. Your FBI Identity History Summary still goes to the U.S. Department of State rather than a Secretary of State, because it is a federal record.
Which has better healthcare?
Italy scores higher, 8 against 6 out of 10. If you expect to need care, weight this above almost everything else on this page.
Verified Sep 7, 2026 Primary sources: vistoperitalia.esteri.it, www.agenziaentrate.gov.it, www.salute.gov.it, migration.gov.gr, www.aade.gr, www.mfa.gr
This resource is provided free by Federal Apostille as an educational tool. It is not legal, tax, immigration or financial advice, and no attorney-client relationship is created by using it. Immigration rules, income thresholds, fees and processing times change frequently and often without notice, and consulates apply them differently. Always confirm current requirements with the official government source and the specific consulate that has jurisdiction over your U.S. state of residence before you act. Every figure on this site carries the date we last verified it and a link to the primary source.
