Italians are enjoying their pension in Albania - INPS: We paid 13 million euros in just one year
While traditional countries like Portugal and Spain are gradually losing their status as tax havens for Italian retirees, Albania is gaining ground as a new and surprising alternative for Italians who want to live out their old age years with fewer, or no, taxes and more peace of mind.
According to official data from INPS, the Italian National Institute of Social Security, Albania has gone from only 10 Italian pensioners in 2019, to 100 in 2023. A tenfold increase in just four years, which is no coincidence.
Since 2021, all foreign retirees who transfer to Albania benefit from a full exemption from tax on pension income. Unlike many other countries where pension taxes remain high, Albania has created an extremely welcoming fiscal environment.
In addition, the cost of living in Albania is among the lowest in Europe, with favorable prices for housing, healthcare and food. This allows retirees who receive a modest pension in Italy to have a much higher purchasing power and enjoy a standard of living that they probably would not have had in their home country.
In 2023, the total amount of pensions paid by INPS in Albania reached 13 million euros, with an average monthly pension of 2,348 euros.
Meanwhile, Portugal, which for many years was the number one destination for Italian retirees, has removed fiscal benefits, while Spain and France are facing rising living costs and tougher tax policies.
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