INTERESTED IN RETIRING IN ANOTHER COUNTRY?
There are many excellent reasons to enjoy a complete change of scenery during your retirement years. However, there are also many issues to evaluate before selecting a destination and making a move. Carefully consider all the questions below to help ensure you’ll love the retirement country and home.
RESIDENCY
What are your visa options and are there any restrictions?
HOUSING
What are the costs associated with buying (or renting)? Are there any restrictions on foreign ownership? How does financing a home purchase work in a particular country?
TAXES
What are the income tax rates? (for US citizens, foreign income is also taxable in the US). What should you budget for property and sales tax?
SECOND CAREER
Are there any restrictions on accepting a local job or starting a new business?
HEALTH CARE
Will you have easy access to quality care? At what cost (including medical insurance)? If government healthcare is offered, does this extend to foreign residents?
OTHER FINANCIAL
What are the potential impacts of currency fluctuations? Will you have easy access to banking services? Are there restrictions on moving money in/out of the country?
SAFETY
Will you feel safe? Is the country’s government stable? What is the geopolitical climate?
LANGUAGE
Will you be able to communicate easily with locals and/or are you willing to learn a new language?
CLIMATE
Will you enjoy year-round living? Or would you prefer seasonal retirement?
TRANSPORTATION
How easy is it to fly in/out of the area and to get around locally — whether in a car, on foot, or using public transportation?
TELECOMMUNICATIONS
Will you be able to communicate easily with friends/relatives back home, and enjoy in-home entertainment, etc? This will depend on access to high-speed internet, cell service, and potential time zone differences.
THINGS TO DO
Does the area offer good shopping, dining, and entertainment venues? Access to recreational activities? The ability to meet people, both locals and other expats.