Countries offering retirement visas

[nun]

We will still have to file and pay US taxes, and as residents of Portugal we will have to file annually here with Portugal IRS. We are applying for the Non habitual resident tax status, which provides 10 years tax credit, so taxes here will be minimal, depending on dividends collected, since pension will be tax free .

US SS checks will be tax free if you are a US citizens and Portugese resident. However, as you point out, you will still have to pay US tax at the full rate on the rest of your income because if you are not taxable in Portugal you will not get any foreign tax credits.

 

[george76]

We will still have to file and pay US taxes, and as residents of Portugal we will have to file annually here with Portugal IRS. We are applying for the Non habitual resident tax status, which provides 10 years tax credit, so taxes here will be minimal, depending on dividends collected, since pension will be tax free . Also, Portugal does have a tax treaty with the U.S.

Doing some research on this I have discovered that some tax treaties will allow the foreign country to treat capital gains within an IRA and a ROTH IRA as regular taxable capital gain rather than tax-deferred or tax-exempt. Do you know how this is for Portugal?

We do have to carry private health insurance, however it is a complete plan, health, vision and dental at a third of the cost of just a health plan in the states.

Do you know if they will reject clients if they have a pre-existing condition?

 

[nun]

We will still have to file and pay US taxes, and as residents of Portugal we will have to file annually here with Portugal IRS. We are applying for the Non habitual resident tax status, which provides 10 years tax credit, so taxes here will be minimal, depending on dividends collected, since pension will be tax free .

I can see that SS might be tax free if there is no tax on it in Portugal, but all other pension income will be taxed. Watch out for the standard Saving Clause in all US tax treaties.

 

[haha]

We are US citizens who have retired to Portugal, and purchased a house recently. The retirement VISA that is applied for in the states gives you 4 months to settle in. Then residency permits are applied for here, being Non EU, a 1 year is issued, and then 2 Two years, followed by Five year permits after that. One can take a Portuguese Test, reading, writing and speaking, after 5 years, to apply for permanent residency . We will still have to file and pay US taxes, and as residents of Portugal we will have to file annually here with Portugal IRS. We are applying for the Non habitual resident tax status, which provides 10 years tax credit, so taxes here will be minimal, depending on dividends collected, since pension will be tax free . Also, Portugal does have a tax treaty with the U.S. Portugal does offer a Golden VISA also. English is the second language here, and the Portuguese are the nicest people we have ever met in our travels, they try hard to understand if they can. We do have to carry private health insurance, however it is a complete plan, health, vision and dental at a third of the cost of just a health plan in the states. We did spend a substantial amount of time researching this move. The weather here is amazing compared to Pennsylvania and New York, the food is so fresh and delicious! We wanted to improve the quality of our lives, and we have!


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So glad that this has worked well for you. What city or town have you chosen? I am sure that weather there varies with both altitude and latitude. I would not move there (or anywhere else), but I could easily enjoy spending few months in an attractive place. Portuguese is a beautiful language.
Ha

 

[Grammymissy]

We are near Tomar, home of the Convento de Christo, Templer Knights history. Today was sunny and in the upper 70's. .


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[ItDontMeanAThing]

I've been considering Spain. Nothing unusual needed to get a long stay retirement visa. Check out the link "Residence for Retiree" at this consulate page: Visas

One huge problem is the legendary density / absurdity / tenacity / incompetence of Spanish government bureaucracy. There are no shortage of information about the process for Brits, the largest group of expats in Spain. Few first hand reports for US citizens.

Several sources cite knowing Spanish is an unofficial requirement. The public information available by phone from consulates and their embassy in the US is always done by leaving a message and them calling you back. If you left a message in English, they never call back. Once in Spain, one can hire a 'guide' to navigate the bureaucracy. Not speaking Spanish means your guide and each official may conspire to make the process financially rewarding to the officials.

One couple did extensive research, knew it would take saintly patience, prepared themselves for different answers to the same questions from different people on different days, etc. As required, they entered Spain on a tourist visa, presented all the documentation obtained from the Miami consulate, and asked for a visa. Nope. One of the documents from the Miami consulate was signed by an official but not stamped. The outcome of the subsequent conversation was yes you meet all the requirements but you need Miami to apply the stamp - the same stamp I have here on my desk. So they did an unplanned round trip flight.

 

[papadad111]

I recently read that Ireland has in 2015 changed their retiree visa scheme and it now requires a significant pension income of 50k euros per annum to qualify for retiree resident visa renewal. Apparently There is no other means testing aside the 50 k euro income test. People are being forced to repatriate as a result. Please post if you have more insight.

 

[Meadbh]

I recently read that Ireland has in 2015 changed their retiree visa scheme and it now requires a significant pension income of 50k euros per annum to qualify for retiree resident visa renewal. Apparently There is no other means testing aside the 50 k euro income test. People are being forced to repatriate as a result. Please post if you have more insight.

I already did:

An American friend living in Ireland sent this:

Ireland rejecting American retirees under new rules - IrishCentral.com

 

[iac1003]

This thread might be of interest to some people. If you are talking about visas, then presumably you have already considered the initial question, 'should you retire overseas'.
http://www.early-retirement.org/forums/f29/should-you-retire-overseas-75792.html

Didn't this thread seriously deteriorate toward the end with name-calling, putting people on ignore, and banning?

Anyway, we own a condo in Puerto Vallarta, our home in Austin is up for sale and we hope to spend 6 months in Mexico in 2016 after I fully retire.


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[iac1003]

I've been considering Spain. Nothing unusual needed to get a long stay retirement visa. Check out the link "Residence for Retiree" at this consulate page: Visas

One huge problem is the legendary density / absurdity / tenacity / incompetence of Spanish government bureaucracy. There are no shortage of information about the process for Brits, the largest group of expats in Spain. Few first hand reports for US citizens.

Several sources cite knowing Spanish is an unofficial requirement. The public information available by phone from consulates and their embassy in the US is always done by leaving a message and them calling you back. If you left a message in English, they never call back. Once in Spain, one can hire a 'guide' to navigate the bureaucracy. Not speaking Spanish means your guide and each official may conspire to make the process financially rewarding to the officials.

One couple did extensive research, knew it would take saintly patience, prepared themselves for different answers to the same questions from different people on different days, etc. As required, they entered Spain on a tourist visa, presented all the documentation obtained from the Miami consulate, and asked for a visa. Nope. One of the documents from the Miami consulate was signed by an official but not stamped. The outcome of the subsequent conversation was yes you meet all the requirements but you need Miami to apply the stamp - the same stamp I have here on my desk. So they did an unplanned round trip flight.

There was a recent article published that if one could prove one was of Spanish Jewish descent and one's family was expelled during the Inquisition, the Spanish government would consider giving one Spanish citizenship if one passed a Spanish history and language test and possibly/maybe a means test. I think.

I know this was my paternal family's legend - that we were expelled in 1492, etc. - but how to prove it? Some distant relatives had a genealogy done in the 1960's and I know my long dead uncle saw it. I asked my first cousin about it but she did not know more about these distant cousins than I did. What little I could find on the internet was the email address of a possible distant cousin. I wrote to her but so far, crickets.

I think it would be cool to have Spanish citizenship because then, as an EU resident, I wouldn't have to switch countries every 3 months if I didn't want to. Oh well.


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[papadad111]

I already did:

Cheers! Knew I saw it and couldn't find it to add here. Maybe it was already here !!!

 

[nun]

EU countries are tightening their immigration rules for non EU citizens. It's an expression of growing nationalism, xenophobia and a perception that immigrants are a drain on the economy. I have argued long an hard against the UKs new non-EU spouse immigration laws, but the prevailing political atmosphere has many anti-immigration trends. If you are considering retiring abroad you new to take them into account. Personally, even as a UK/US citizen al la Emily Blunt I would not retire to an EU country other than the UK until the UKs "in or out" EU status is decided.

 

[explanade]

Most of the EU countries have zero or negative population growth.

Some like Germany are wise to this and are more willing to accept Syrian refugees.

 

[meierlde]

There was a recent article published that if one could prove one was of Spanish Jewish descent and one's family was expelled during the Inquisition, the Spanish government would consider giving one Spanish citizenship if one passed a Spanish history and language test and possibly/maybe a means test. I think.

I know this was my paternal family's legend - that we were expelled in 1492, etc. - but how to prove it? Some distant relatives had a genealogy done in the 1960's and I know my long dead uncle saw it. I asked my first cousin about it but she did not know more about these distant cousins than I did. What little I could find on the internet was the email address of a possible distant cousin. I wrote to her but so far, crickets.

I think it would be cool to have Spanish citizenship because then, as an EU resident, I wouldn't have to switch countries every 3 months if I didn't want to. Oh well.


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Have you checked Ancestry.com? It might be worth a couple of months membership to check it out. If the study was done then it might be there. Or hire a professional to check it out.

 

[Sunset]

Have you checked Ancestry.com? It might be worth a couple of months membership to check it out. If the study was done then it might be there. Or hire a professional to check it out.

I think you can get a week free trial for a quick check.

 

[gerntz]

Today in the WSJ:

"The U.S. government has long created hardships for Americans who live abroad, and much of the problem relates to the tax code. America is the only country that taxes citizens on their global earnings, and in 2010 Washington exacerbated that by passing the Foreign Account Tax Compliance Act, or Fatca. As this law comes into force, it is doing immense harm to Americans and American interests abroad.

Aimed at preventing money laundering, the financing of terrorism and tax evasion, Fatca requires foreign financial institutions such as banks to report the identities of their American customers and any assets those Americans hold. Institutions that don’t comply are subject to a 30% withholding tax on any of their own transactions in the U.S.

This provision was enacted without regard for its effects on the 8.7 million U.S. citizens living abroad, who have essentially been declared guilty of financial crimes unless they can prove otherwise. Many institutions no longer consider their American clients worth the burden and potential penalties of the law, and are abandoning them in droves.

Being an American overseas has become a liability, and not just because it’s difficult to open or keep a bank account. Americans are now often seen as toxic. Thanks to Fatca and other tax provisions, foreigners who marry Americans abroad can see their prospects for homeownership and their pensions, insurance, privacy and investments negatively affected."

Good Luck.

The Law That Makes U.S. Expats Toxic - WSJ

 

[MichaelB]

This is a popular discussion and thread. Let's keep it focused on the thread topic, which is visas and visa requirements for non-residents. Members are free to post about US tax policy and other expat matters, but please use other threads.

 

[nun]

Most of the EU countries have zero or negative population growth. Some like Germany are wise to this and are more willing to accept Syrian refugees.

This is true, but you have to balance the far sighted German attitude against the policies of Eastern EU countries, UK etc. In all EU countries there is a perception that immigrants take advantage if the generous benefits without necessarily contributing; this attitude is also seen in the US particularly with illegal immigrants even when they pay tax. There is also a cultural resistance to immigration in some countries.

 

[meierlde]

Thinking about the income limits would an annunity qualify? A whole life annunity could provide a guaranteed income stream, that might meet the test.

 

[tndiehard]

Thailand - Thailand has a flourishing Retirement Visa Program. First need a Long Stay Visa. (Easier to get in the USA). A Foreign Bank account with about 800,000 Baht 35=$1
or a Pension of 60,000 Baht/Month. You can go to American Consulate and they will give you a letter that states you have these Amounts of money in the USA. Will be accepted my Thai Immigration. Cost $50 USA - If you want to go back and forth more than 1 time per year you need a multiple entry Visa an extra $100 USA. Thailand is Beautiful Has flourishing Tourism. The downside is Humid weather and a long trip.

 

[kramer]

Thailand - Thailand has a flourishing Retirement Visa Program. First need a Long Stay Visa. (Easier to get in the USA). A Foreign Bank account with about 800,000 Baht 35=$1
or a Pension of 60,000 Baht/Month. You can go to American Consulate and they will give you a letter that states you have these Amounts of money in the USA. Will be accepted my Thai Immigration. Cost $50 USA - If you want to go back and forth more than 1 time per year you need a multiple entry Visa an extra $100 USA. Thailand is Beautiful Has flourishing Tourism. The downside is Humid weather and a long trip.

Hi tndiehard, unless things have recently changed, those bank accounts must be in Thailand, not the USA. And they are certified with documents from the Thai bank. The US embassy will certify pension income, however, and that can be used in lieu of the bank account requirements.

Also, if you apply outside of Thailand, you need a health check by a doctor and a police clearance from your home country. So it's easier to apply each year in Thailand, if your scheduled accommodates that, as they seem not to require those two things for in-country applicants.

The visa must be renewed from scratch each year, e.g., you must reapply each year.

 

[explanade]

Political stability?

 

[tndiehard]

Thanks for the Visa info. I have been going to Thailand more than 16 years. During that time there have been many Political Coups. None of them seemed to have much impact, except for the airport closure. The only thing that concerns me now is the death of the KING when he dies there could be instability of some kind. OH WELL.

 

[Ed_The_Gypsy]

Update on Republic of Georgia.
A while back, Georgia went from allowing Americans to stay without a visa for 12 months to a 3 - month visa requirement. I noticed that. I did not notice that they almost immediately reversed the decision. I liked Georgia. And they like us.


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[ItDontMeanAThing]

The visa must be renewed from scratch each year, e.g., you must reapply each year.

Technically, each year one requests a 1 year extension to their visa. Except for waiting at the immigration office, it's a painless experience.

In six years I've yet to hear or read of anyone being denied an extension to their 'retirement' (usually a non-immigrant type O) visa. Most of the expats I know agree that to be denied an extension, one has to have pissed off somebody important, or there was a major change to the system. But we're speculating.