Skip to content 
More and more people are emigrating or thinking about emigrating. The reasons vary, but satisfaction in many Central European countries such as Germany or Austria has been declining for years. Main motivations include tax cuts, safety, climate, and career opportunities.
Emigrating also means overcoming a few hurdles at first. One of these is money. But how much money do you need to emigrate, and are there also countries you can move to with little money?
This comprehensive guide addresses these questions and lists the 10 best places to emigrate to when you have little money.
Can you emigrate with little money?
The more money, the better, logically. But you can also move abroad with very little money. In fact, there are people who move abroad on a small pension or remote income of €1,500-2,000 and are able to enjoy an excellent life abroad.
This is possible insofar as there are many countries that have a weak currency and are significantly cheaper in terms of the cost of living.
When you combine these low costs of living in various countries with a Western income or pension, you achieve a decisive advantage. You get a lot for your hard-earned money, and that is called geoarbitrage. Simply put, you continue to earn above the average of the country you are in.
TOP 10 Countries to Move Abroad with Little Money
Based on the aforementioned logic, here are the 10 best countries to move to if you have little money. Not only are these cheaper than many Central European and Western countries, but some also offer very interesting tax advantages.
Montenegro
A country that many do not have on their radar, but which combines a very high quality of life with low costs, is Montenegro. The country on the Adriatic coast borders Croatia and is very similar to it in terms of scenery. Montenegro is characterized by a beautiful sea, mountains, and nature reserves, as well as small coastal towns.
Although Montenegro uses the euro, the average wage level is well below the EU average. Accordingly, it is affordable to live there, especially away from the tourist hotspots. For a few hundred euros a month, you can usually get a nice 1-bedroom apartment near the sea. In the interior of the country, it gets significantly cheaper.
Montenegro is also very attractive from a tax perspective, as the top tax rate is only 15% for all types of income. That is well below the European average.
Immigration and the residence visa are relatively easy for EU citizens; you simply have to establish a local company and properly manage it (accounting and annual financial statements). After 10 years, you have the option of citizenship.
Cyprus
Cyprus is a quite popular country for emigration. And for good reason, because Cyprus offers a number of advantages and is still relatively inexpensive by comparison. While definitely more expensive than Montenegro, you are in the EU and have good flight connections to many other countries.
Cyprus offers an attractive tax model under which companies pay only 12.5% in corporate income tax, and investors pay no tax whatsoever on stocks, cryptocurrency, dividends, and other investment income. From a tax perspective, Cyprus is one of the most attractive countries in the EU.
Since the island nation is in the EU, a Emigrating to Cyprus particularly easy. Because in the EU there is freedom of establishment. As long as you have a company or a job, you are allowed to live in Cyprus, and the non-dom status, which activates the tax benefits, can also be obtained with low requirements. You only have to live in Cyprus for 2 months per year.
Furthermore, Cyprus offers beautiful nature, the sea, and even mountains where it can snow.
The costs in Cyprus vary depending on where and how you live. A beachfront villa costs several thousand euros per month, whereas an apartment just a few kilometers inland can be had very cheaply.
Bulgaria
Bulgaria is another European EU country, but it’s considered one of the newer and up-and-coming destinations among expats. Here, too, EU citizens enjoy freedom of establishment and can live in one of the EU’s most tax-friendly countries. Tax rates of just 10% on personal income and corporate profits are among the lowest in the EU.
Furthermore, Bulgaria is one of the cheapest EU countries, and for a few hundred euros a month you can get an apartment in the capital.
Paraguay
An increasingly popular country for motivated expats is Paraguay. The South American nation has become so popular for numerous other reasons, in addition to the low cost of living.
Paraguay offers an extremely interesting tax system for anyone who earns their income outside of Paraguay. This is called territorial taxation, which means that foreign income of any kind is not taxed—ranging from crypto and stocks to rental income from apartments in Dubai.
Paraguay offers beautiful nature, a subtropical to tropical climate, and a relaxed lifestyle, just as you know it from South America.
Furthermore, the Emigration to Paraguay From a bureaucratic perspective, it is comparatively simple. You need a valid passport, proof of $10,000 USD or $1,300 USD per month in income, and a clean police record to get the residency permit.
Panama
Besides Paraguay, Panama also a Latin American country that has gained popularity among expats in recent years. The reasons are very similar to those of Paraguay.
Panama also offers a territorial tax system, which does not tax foreign income of any kind. This makes it very interesting for entrepreneurs, investors, and all those who generate income from the rest of the world.
In terms of location, Panama is definitely situated a bit better and, from a European perspective, is not as remote as Paraguay. You can reach Miami in 3 hours and from there enjoy direct flights to numerous European and American cities.
In addition, the banking system is better and operates or conducts business within the US dollar zone.
Georgia
Georgia is visa-free for many nationalities (including Germany) for up to 365 days. The cost of living is very low, the internet is fast, and the capital, Tbilisi, attracts many creative and international people. You can survive on around 500 to 700 euros a month.
Georgia offers attractive tax benefits for individuals and companies, making it particularly interesting for expats and investors:
Territorial taxation for individuals: Georgia applies a territorial tax system. This means that only income earned in Georgia is subject to the Georgian income tax rate of 20 %. Foreign income, such as dividends or capital gains from abroad, remains tax-free.
Additional tax benefits: Gains from trading cryptocurrencies or stocks are tax-free in Georgia, provided they come from foreign sources.
Furthermore, the country in the Caucasus offers wonderful nature with mountains over 5,000 meters high. Ideal for everyone who enjoys mountain sports and friends of nature.
Mexico
Especially in the south (e.g., Oaxaca or Mérida), you can live quite cheaply. Many German expats and digital nomads appreciate the culture, the food, and the hospitality. Mexico allows a stay of up to 180 days without a visa. After that, however, you have to leave the country or apply for a temporary residence visa.
Philippines
Southeast Asia is a very popular region for travelers from all over the world and especially digital nomads. The country is inexpensive, culturally it is most similar to Europe (former Spanish colony) and the only country in Asia with a majority Christian population.
Culture is an important factor when it comes to settling into a country, and furthermore, English is spoken very well to a large extent in the Philippines.
From a tax perspective, the Philippines are also interesting because they also have a territorial tax system that does not tax foreign income.
Vietnam
One of the most affordable countries in Southeast Asia is Vietnam, and as a result, it is very popular with tourists and digital nomads. From a tax perspective, however, Vietnam is not particularly attractive, as it has a progressive tax system.
Thailand
Another country in Southeast Asia that has been very popular with expats for years is Thailand. The Buddhist country with its many Buddha statues features a subtropical to tropical climate and a mix of major cities, jungles, and beautiful holiday islands with sandy beaches.
Thailand is also interesting from a tax perspective, as it offers a territorial tax system.
Many vacationers appreciate the low cost of a vacation in Thailand, and the same applies to expats living there. Starting from groceries and housing to various services, Thailand is very affordable. The only thing in Thailand that is exceptionally expensive is luxury cars. There are exorbitant import duties on these, making the cars cost a multiple of their original price.
Perpetual Traveling
Anyone who cannot decide initially should look into the topic of perpetual traveling and consider becoming a to become a digital nomad. This is a concept of not living permanently in any country, but moving on every few months so that you do not become liable for taxes anywhere.
The clear advantage here is that (in the right setup) you save on taxes and can travel to many countries. Most of these countries are also affordable, which allows you to engage in geoarbitrage, as already mentioned. Popular countries for this include Indonesia, Thailand, South Africa, and Vietnam, among others.
The most important points to emigrate successfully and free yourself from the system.
Optimize taxes, gain freedom and increase quality of life.
Tips
Emigrating is often a major life change and accordingly you should not always take it lightly. Especially if you are financially limited. Therefore, here is a selection and practical tips that you should consider.
- Clarification of the residence visa and its costs
- Knowing everyday living costs (rent, food, transportation, communication...)
- Have at least 6-12 months of living expenses in an emergency fund
- Take out international health insurance
- Network locally and build a network
Summary
Emigrating is definitely not just reserved for wealthy people. You can emigrate with relatively little money and live exceptionally well in countries with weak currencies and low wage levels. If you combine western income or pensions with southern or eastern living costs and tax advantages, you achieve effective geoarbitrage.
