You’ve heard of Dubai and Tokyo. But those aren’t the only places Americans are moving to – not even close.
Our expat clients desire these 10 cosmopolitan places offering first-world amenities and a fresh but big-city lifestyle.
One of them offers a $400K fast-track citizenship. Another? Zero tax on US retirement income. And #1? The best food in the world.
Let’s start the countdown with #10: Bogotá, Colombia.
#10 – Bogotá, Colombia
You probably didn’t expect this city to have the most trafficked airport in Latin America. But it does. And that one fact tells you something important: Bogotá is a thriving capital with momentum. If you’re looking for lower costs, this is for you.
Bogotá offers US expats the chance to live in a massive, cosmopolitan city with all the perks at 30-50% of American prices. High-rise penthouse apartments under $2,000 a month. $25 for world-class meals. Premium private healthcare for a third of what you’d pay in the US.
Colombia also makes immigration pretty accessible. There’s a retirement visa if you can show just $900/month in pension income. Or, if you want to invest, you can get an investor visa by purchasing $110,000 in property or a local business. Maintain your investment for five years? You’re eligible for permanent residency.
But – and this is important – Colombian taxes can get messy. Once you’re a tax resident, your global income is subject to Colombian tax, and there is no double tax treaty with the United States, which means you could end up paying tax on your income in two countries, not just one. So, you need a solid plan and local tax expertise to structure things right. The Freedom Files can help, but the easiest way to avoid Colombian taxes is to avoid becoming a tax resident in the first place.
Still, if you’re looking for a lively Latin American city with improving infrastructure, proximity to the US, a bit more unfamiliar environment, and incredible cost of living benefits, Bogotá should be on your radar.
Let’s jump from the Andes to Southeast Asia.
#9 – Kuala Lumpur, Malaysia
If you want Bangkok buzz without maybe the chaos that comes with it, Singapore standards without the price tag, say hello to KL.
Kuala Lumpur is clean, efficient, tropical, English-speaking, wildly affordable, and surprises most who visit it.
The city is designed for comfort: Fast Wi-Fi, really sleek condos with rooftop pools, Michelin-level food, and hospitals that rank among the best in Asia. There’s a reason the medical tourism industry here has flourished.
The visa setup? Malaysia’s MM2H (Malaysia My Second Home) program just reopened. It now requires around a $125,000 bank deposit. In return, you get 5 years of renewable residency – rare for this part of the world.
And yes, that gets you access to local healthcare and tax-friendly treatment (zero tax, that is) of foreign income no matter how long you remain in the country.
What’s the catch? The weather’s hot and humid year-round. Alcohol can be pricey. And the government’s visa policies tend to change often without warning.
But if you want big-city living without big-city costs, Kuala Lumpur is one of the best-kept secrets in Asia.
Before we move onto the next European capital with unexpected financial perks, what’re you looking for in your next home overseas? ‘Food’, Safety, ‘Low taxes’, or ‘Safety’. Drop a comment down below, and let’s go…
#8 – Paris, France
Yes, Paris made this list. We know it’s not “underrated” in the cultural sense – but for expats? It absolutely is.
Here’s the thing most Americans don’t realize: Thanks to the US-France tax treaty, American retirees with Social Security or pension income don’t pay tax on that income to France, even if they do become tax residents in the country. Not at all what you’d expect from France, right?
Add in France’s world-class infrastructure and a top-tier lifestyle, and France may have just made your list.
The tradeoff? Bureaucracy is, well, very French. But the croissants?
Now let’s head east to another European destination city full of old-world charm and new-world affordability that doesn’t get enough respect.
#7 – Budapest, Hungary
It’s no accident that digital nomads and expats are flocking here. Budapest offers one of the most unique cost-to-quality-of-life ratios in Europe.
You can live in a beautifully restored apartment for under $1,500 a month, soak in thermal spas daily, and still save money compared to most US cities.
Hungary offers several visa routes, including a digital nomad visa (White Card) and an Investor Visa for those willing to dump €500,000 in real estate funds in the growing country.
Taxes? Like many Eastern European countries that have moved far from their communist part, Hungary has a flat 15% income tax, and foreign pensions can often be structured favorably, depending on your setup.
Downsides? Hungarian can be a tough language to learn. Integration is not the easiest, especially with fewer expat numbers here than in Paris. Still, if you want Western European charm with Eastern European pricing, Budapest should be on your radar.
Back to South America with a city that feels European as well. Don’t worry – we’ll be back to Europe in just a few minutes (stay for our last pick too!)…
#6 – Buenos Aires, Argentina
Buenos Aires has the architecture of Paris, the food scene of Madrid, and the soul of Latin America. If you’re looking for culture, history, and art, Buenos Aires is for you.
It’s one of the most European-feeling cities outside of Europe – and yet, the cost of living is low for such a world-class city. Granted, it’s not as low as in 2023 when I was last here (I’m talking $20 tomahawk steak dinners and $500 monthly rent), but it’s still lower than Buenos Aires deserves.
There’s a Rentista Visa that works well for retirees. You’ll need to show $2,000/month in income from abroad, and you can apply for a powerful citizenship after just 2 years, permanent residency after 3. I know, funky how that works, no?
Even better? Argentina is planning to roll out a Citizenship-by-Investment program, giving you an immediate shortcut to a second passport. We broke that down in the little white bookmark in the top right. Few people are talking about this, but it could be a game changer for the industry and region.
Now let’s head a bit closer to home to la Ciudad de México…
#5 – Mexico City, Mexico
If you’re looking for proximity to the U.S., a vibrant culture, and serious city energy, Mexico City may just hit the mark.
It’s one of the largest cities in the world with a good mix of history, nightlife, green space (almost reminiscent of my home in Medellín), and yes, of course, international cuisine.
Cost of living? You can live well on $4,000/month, including rent in trendy neighborhoods like Roma or Condesa. Healthcare is world-class, and private insurance costs a fraction of US prices.
Visa options are straightforward. Depending on current exchange rates, the Temporary Resident Visa requires about $4,500/month in income or $75,000 in savings — or you can apply for Permanent Residency with $250,000+ in assets if you’re above the age of 50.
And thanks to the US-Mexico tax treaty, you may not owe Mexican taxes on your US retirement income. Pair that with cheap flights home and street tacos on every corner? That’s tough to beat.
Downsides? Air pollution, traffic, and safety vary by neighborhood. But with the right immigration guidance from the Freedom Files, many expats thrive here long term.
Coming up — the Turkish metropolis offering citizenship just for buying a home…
#4 – Istanbul, Türkiye
Istanbul is where continents collide literally. One foot in Europe, one in Asia, and 15 million people in between.
It’s electric. From rooftop cafés to spice bazaars, ancient mosques to modern malls, this city never slows down.
A few years ago, a friend pointed out to me this dog-cat proxy. If you see cats roaming around streets in a city, you can safely consider that culture more peaceful, quiet, safe, and cozy. On the other hand, if stray dogs roam the avenues, you can consider it louder, more dangerous, and generally more chaotic. If you’ve ever been to Istanbul, you know that Istanbul falls into the former.
If you buy a home in Istanbul for $400,000, you qualify for Turkish citizenship in under six months. No, that can’t be right. Yes it is. The government rolls out the red carpet for foreign property investors.
Healthcare is solid. The food is outstanding. And the cost of living is still far lower than most major Western cities.
But there are tradeoffs: You’ll need a tolerance for bureaucracy and some good local contacts via the Freedom Files. Also, the lira is volatile, which can either work for or against you given the day (or even time of day).
Still, Istanbul: $400k, instant passport, six months. That’s less than a Brooklyn condo. What are we doing here, people?! Now let’s jet to Southern Europe…
#3 – Lisbon, Portugal
Lisbon has been the darling of the expat world for a decade now, but has everything changed?
Portugal’s D7 Visa allows retirees with passive income (as little as $900/month) to get residency. You’ll need to stay at least six months per year, but in return, you get access to healthcare, education, and European lifestyle.
If you want more flexibility, the Golden Visa offers a path to residency through a €500,000 fund investment or €250,000 donation.
What about taxes? Portugal’s Non-Habitual Resident (NHR) regime was phased out, and with it, went many of the attractive tax incentives that made Portugal a top destination.
Lisbon isn’t as cheap as it once was. But if you’re looking for Western European quality of life and high English proficiency with a softer landing, it’s still one of the top contenders. Okay, quick recap – What’s your favorite city so far? I want to hear your take in the comments.
#2 – Athens, Greece
Sun, history, olives… and a legal 7% tax rate? Yes, really.
Athens is a history buff’s dream, but also it’s one of the most underrated expat hubs in Europe right now. I was here a few months ago, and I concur. The reason is simple: Greece wants your pension. But in the nicest way possible.
Here’s the deal: If you move to Greece on a retirement visa — like the Financially Independent Person Visa —, you can opt into their 7% flat tax regime on all foreign pension income. That rate is locked in for 15 years.
And if you prefer the property route, Greece’s Golden Visa still exists — invest €250,000 in converted or renovated real estate, and you’re in. That could get you a sea-view apartment on a quiet island or a city flat in the heart of Athens.
Now, what’s Athens really like? It’s gritty but grand. I thought it would be something else entirely. Walkable. Affordable. Great public transport. Really incredible food.
Bureaucracy exists (this is Europe, after all), and some neighborhoods are better than others. But with the right guidance from the Freedom Files, it’s very manageable.
For retirees looking for culture, weather, and a financial break, Athens is a sleeper pick.
Which brings us to our final underrated cosmopolitan city pick…
#1 – Madrid, Spain
Most Americans think of Barcelona when they think of Spain. But expats in the know? They go to Madrid. If you’re looking for wine and food, this is for you.
Here’s why: Madrid offers a rare blend of big-city energy and laid-back living. It’s polished but not pretentious. Affordable but full of luxury. And for expats — especially retirees — it hits a sweet spot. Prime shopping. Connected to most other hubs around the world. Best food in the world (comment down below if you disagree).
Residency is straightforward: Spain’s Non-Lucrative Visa is designed for people with passive income or savings — around $30,000 for individuals, $50,000 for couples. You get access to Spain’s top-tier healthcare system and the ability to renew into permanent residency and eventually citizenship if you remain in the country.
Taxes are where Spain usually gets knocked. Very high rates on global income, up to 50%. I recognize that’s a huge deal because it’s also the reason I haven’t moved here … yet. Spain’s lifestyle can outweigh the tax burden, but only if you’re strategic.
Madrid is clean, efficient, safe, and full of life. Don’t expect to pay bottom of the barrel prices, especially in Salamanca or Chamberí, but you’ve come to expect that remark with this list of cosmopolitan cities. Public transport is phenomenal. And despite being a global capital, the pace feels intentional.
It’s not the cheapest city on this list. And Spanish bureaucracy can feel like a scavenger hunt. But if you want European quality of life with serious expat infrastructure, Madrid might just be the best of all worlds.
So each of these cities offers its own flavor of “freedom,” whatever that means to you. Which city caught your eye? Comment below.
If you want help figuring out which destination best fits your goals, book a Freedom Consult with our relocation experts. We’ve helped hundreds of Americans build a better life abroad. Also, don’t miss our video on “The Legal Tax Loophole that Saves US Expats $22K a Year.” It’s packed with detailed breakdowns of how taxes work for Americans abroad and how you can save BIG.
