5 Tax Free Retirement Countries for US Citizens

2. Nicaragua

Insider Monkey Score: 20

Thousands of expatriates are attracted to Nicaragua every year owing to its affordable living costs and low property taxes. Individuals who are 45 years or older, having a monthly retirement income of $600 or more may retire to the country. Under its Retiree Benefits Program, individuals do not have to pay taxes on any out-of-country earnings. Amongst other benefits, they may even bring household goods worth up to $20,000 from their own home, and that too, to Nicaragua duty-free.