What do I need to know before retiring in Caracas?

"Expats considering retiring in Caracas, should be aware of the political and economic instability in the country, which has led to high crime rates, shortages of basic goods, and unreliable public services. It is essential to have a comprehensive health insurance plan, as the healthcare system in Venezuela is severely strained, and many medical facilities lack basic supplies and equipment. Expats should also be prepared for frequent power outages and water shortages. The cost of living in Caracas can be high, particularly for imported goods, due to the country's economic crisis and hyperinflation. Expats should ensure they have a reliable source of income and access to foreign currency, as the local currency, the bolivar, is subject to rapid devaluation. Learning Spanish is crucial for navigating daily life in Caracas, as English is not widely spoken. Expats should also familiarize themselves with local customs and cultural norms to better integrate into Venezuelan society. Housing options in Caracas can be limited, and expats should prioritize finding a secure and comfortable living arrangement, preferably in a gated community or a building with security personnel. It is also important to establish a reliable network of local contacts and friends who can provide support and advice during the transition to life in Caracas. Finally, expats should stay informed about the political situation in Venezuela and be prepared to adapt to changing circumstances. Registering with their home country's embassy or consulate in Caracas can provide access to important updates and assistance in case of emergencies," mentioned another expat when asked about moving to Caracas, Venezuela.

"In general terms people in this city are nice and kind. But you shouldn't trust everybody. Personal Security must be in your mind everytime you go out especially if you go on foot (without car), because delinquency is a serius issue here. Subway is safer than autobus unlike other countries. And if u have to take the bus avoid western routes. Indeed avoid getting around on the west part of the city and lower class zones because are the most risky," commented one expat who made the move to Caracas, Venezuela.

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Cigna Global Health

Expats interested in International Health Insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.
Get Quote