Retiring in Europe

Preparing to retire in Europe from Canada

I lived in Portugal for ten years before settling in Canada, so I know this move in both directions. Retiring to Europe means deciding what happens to your RRSP, your TFSA, your pensions and your home, and several of these decisions are much easier to make before you leave than once you are there.

Forested islands on a calm blue sea in summer — The islands of Howe Sound in summer.

The retire-to-Europe plan

Launch prices for bookings made before June 30, 2027.

Retire-to-Europe plan

CAD 1,550

Two sessions and a written plan

We start by comparing your after-tax retirement income in one or two destination countries. We then look at what is best done with your RRSP or RRIF, your TFSA and your other accounts before you leave, how your CPP, OAS and workplace pensions will be paid to you abroad, whether it makes more sense to sell, rent out or keep your home, and how to organise your spending in euros from savings held in Canadian dollars. You leave with a dated timeline, and I note the points that your accountants, in Canada and in your new country, will act on.

Worth knowing: your TFSA is only tax-free in Canada, and most European countries tax what it earns as soon as you live there.

A few points by country

These rules change often. I use them to guide your decision, and the details are then confirmed with an adviser in the country concerned.

Portugal

The former NHR regime is closed to newcomers, and pensions are now taxed at the standard progressive rates. Its successor, IFICI (often called “NHR 2.0”), is aimed at qualified professionals and does not cover pensions.

France

Pensions are taxed progressively after a 10% allowance, and the real-estate wealth tax (IFI) applies above €1.3M.

Belgium

Income tax is high and comes with a municipal surcharge, and securities accounts above €1M are subject to an annual tax.

Spain

Foreign assets above €50,000 must be declared (Modelo 720), and the wealth tax varies from one region to another.

How it works in practice

It starts with the short contact form, where you tell me about your situation and what you'd like help with. I reply within two business days with the service I'd suggest and its price. Once you've paid the invoice, I send you a questionnaire and ask for your recent statements, so that I can prepare the session properly.

We then meet by video, or in person if you live in Vancouver, and go through everything together. You can take the time to ask the questions you've been putting off, including the ones that feel basic.

About a week later you receive a written report with your figures, a dated list of the steps I recommend and, where needed, the points I have identified, which your accountant or notary will then act on.

Getting in touch

The simplest way is to describe your situation in a few lines using the contact form. I read every message myself and reply within two business days, telling you which service seems right for you and what it costs. You can also write to me directly if you prefer.

Open the contact form contact@filiawealth.ca