Countries offering retirement visas

[martyp]

I would love to hear more about your daily life, say in the "What did you do today?" thread as well as your impressions of living in Thailand. I spent two years in Thailand in the early 70's on Uncle Sam's dime. I would even consider getting on an airplane for a trip there. The traffic throughout Thailand was more like a free-for-all back then. Has that changed?

From what I understand Bangkok is totally different than it was even 10 years ago. BKK is both a very modern international city and also very rural thai at the street level. The traffic is a little crazy. Rules of the road are just guidelines but you get used to it. I have a driver's license but I only use it outside the city. I came for a couple of years before deciding to stay. The food and the people are wonderful. My lasting impression is that I feel very "free" here. It has been nice to make a change in my life.

 

[explanade]

No experience here, but while perusing a TV show, the country Belize came up in conversation. As I recall, English is the official language and all that was needed was a $25k bank account. Needs researching if anyone's interested


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Watching a House Hunters International episode of a couple buying a home in Belize, Amber Cayes island.

I don't know about living there full time but looks like there are condos with spectacular ocean views for around $400k.

I do wonder about being close to Guatemala and SE of the Yucatan Peninsula, as far as security.

Has to be a hassle to reach, if you're going back and forth from the US. Fly into some small airport probably and then get on some kind of ferry?

 

[Hermit]

From what I understand Bangkok is totally different than it was even 10 years ago. BKK is both a very modern international city and also very rural thai at the street level. The traffic is a little crazy. Rules of the road are just guidelines but you get used to it. I have a driver's license but I only use it outside the city. I came for a couple of years before deciding to stay. The food and the people are wonderful. My lasting impression is that I feel very "free" here. It has been nice to make a change in my life.

From my long ago experience I absolutely agree about the food and the people.

 

[Surewhitey]

Watching a House Hunters International episode of a couple buying a home in Belize, Amber Cayes island.

I don't know about living there full time but looks like there are condos with spectacular ocean views for around $400k.

I do wonder about being close to Guatemala and SE of the Yucatan Peninsula, as far as security.

Has to be a hassle to reach, if you're going back and forth from the US. Fly into some small airport probably and then get on some kind of ferry?

Vacationing in the scary Yucatan now...lived and traveled here without incident 3 years. You can fly into Belize City and take a ferry from there or a puddle jumper flight on Belize Air. Nice planes,. 8 seater is what we did. Ambergris is much larger than Caulker. I could live there, personally.

Mahahual is just North of there in Mexico and we'll worth a trip, south of town (cruise ships make it a little busy some days. Good shallow, fly fishing in Xcalac too.

Back to Belize, tourist visa is a pain according to friends. Have to renew every month gets expensive.

 

[sergio]

This is somewhat of a Hail Mary, but anyone have any insight whatsoever on retiring in Hong Kong? I'm aware of the prices, but can't seem to find anything whatsoever on gaining permanent residency besides starting a business, marrying a local etc.

 

[JakeinChina]

For Hong Kong, you need to get employment, which isn't that difficult, and after 5 or 7 years you can gain a residency card, but I'm unfamiliar with the permanent residency process, although I know its not that difficult to receive as long as you have employment. The issue, as you may already know, is that its very expensive to live in Hong Kong. Nothing is less then 2500usd for a studio apartment which is around 50 square meters (500 square feet) in HK Island or the good parts of Kowloon. IMO Hong Kong would be the last place I'd want to retire. Its very fast pace, money and status are very important, and you will always be considered a foreigner and not a local.

 

[Dd852]

For Hong Kong, you need to get employment, which isn't that difficult, and after 5 or 7 years you can gain a residency card, but I'm unfamiliar with the permanent residency process, although I know its not that difficult to receive as long as you have employment. The issue, as you may already know, is that its very expensive to live in Hong Kong. Nothing is less then 2500usd for a studio apartment which is around 50 square meters (500 square feet) in HK Island or the good parts of Kowloon. IMO Hong Kong would be the last place I'd want to retire. Its very fast pace, money and status are very important, and you will always be considered a foreigner and not a local.

Jake is absolutely right. I’ve lived in hk on and off four separate times, and while I love the place I’d not want to consider it without significant money coming in! Visas are relatively straightforward if you have employment or if you are married to someone with either employment or a permanent ID card. If you have lived in hk with a legitimate residence visa for seven continuous years you can get a permanent ID. Without one you have no access to subsidized housing or health care. Private healthcare is pricey. Insurance prices are similar to us levels for top flight coverage. There are no restrictions on foreigners buying property — but the prices make New York or london seem cheap. No joke.

 

[JakeinChina]

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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Hi Grammy,

If your an American, why would you purchase the Golden Visa for Portugal when you can just visit there and apply for a residency permit after your tourist visa expries? We looked into the Golden Visa for Portugal (and Spain) and although the 500K Euro's for real estate purchase we could meet (seems risky to invest that much in a property in Portugal however) there were many fees from the government as well as legal fees. It came out to over 50K Euro's when you added up all those fees.

Just curious why if someone had funds to retire early to Portugal, why not just go live there and show proof of funds to support yourself, and rent for a while and later buy a inexpensive home outside of the expensive Lisbon no?

 

[sergio]

For Hong Kong, you need to get employment, which isn't that difficult, and after 5 or 7 years you can gain a residency card, but I'm unfamiliar with the permanent residency process, although I know its not that difficult to receive as long as you have employment. The issue, as you may already know, is that its very expensive to live in Hong Kong. Nothing is less then 2500usd for a studio apartment which is around 50 square meters (500 square feet) in HK Island or the good parts of Kowloon. IMO Hong Kong would be the last place I'd want to retire. Its very fast pace, money and status are very important, and you will always be considered a foreigner and not a local.

Thanks for the feedback. I'm familiar with the general situation in HK, as I've spent a lot of time there, my wife is from Southern China and has several relatives living in HK etc. At some point we'd like to spend significant time in that area, and to me (and even my wife) HK is a lot more appealing than any of the major Southern mainland cities (Shenzhen, Guangzhou etc.)

 

[explanade]

The other thing with HK is that you're downstream from all the pollution from China.

 

[Rianne]

Costa Rica is my dream place to move. DH not on board.

 

[ItDontMeanAThing]

If your an American, why would you purchase the Golden Visa for Portugal when you can just visit there and apply for a residency permit after your tourist visa expries?

Citizens of non-EU countries must start the path to a residence permit by applying for a residence visa in their country of residence. BTW, American tourists don't need a visa for Schengen countries, but we can stay only 90 days out of any 180 day period.

The other advantage of the Golden Visa is you can stay out of Portugal for almost as long as you want: 51 weeks in the first year, 50 weeks in subsequent years. With a 2 yr temporary residence permit, you can stay outside of Portugal for 6 consecutive months or 8 total months.

 

[JakeinChina]

Citizens of non-EU countries must start the path to a residence permit by applying for a residence visa in their country of residence. BTW, American tourists don't need a visa for Schengen countries, but we can stay only 90 days out of any 180 day period.

The other advantage of the Golden Visa is you can stay out of Portugal for almost as long as you want: 51 weeks in the first year, 50 weeks in subsequent years. With a 2 yr temporary residence permit, you can stay outside of Portugal for 6 consecutive months or 8 total months.

Yeah, that's true. With Portugal and the Golden visa you don't need to live there, which is not the case with Spain when it comes to permanent residency. Also, only 6 years and you can apply for a Portugal passport, whereas Spain is 10 years.

What do you think about the recent housing prices in Portugal? Its gone thru the roof in areas in and around Lisbon and its spread to Porto and the southern beach areas in Portugal. It feels like a bubble will burst in Lisbon at some point in the next couple of years. Also, they are going to crack down on Airbnb rules in Portugal to make only first floor apt's able to rent out. This will hurt the local real estate prices as everyone is now buying up homes in Lisbon or Cascais and fixing them up to rent out via Airbnb. Its really tough to get a long term rental on an apartment in Lisbon now.

 

[ItDontMeanAThing]

What do you think about the recent housing prices in Portugal? Its gone thru the roof in areas in and around Lisbon and its spread to Porto and the southern beach areas in Portugal. It feels like a bubble will burst in Lisbon at some point in the next couple of years. Also, they are going to crack down on Airbnb rules in Portugal to make only first floor apt's able to rent out. This will hurt the local real estate prices as everyone is now buying up homes in Lisbon or Cascais and fixing them up to rent out via Airbnb. Its really tough to get a long term rental on an apartment in Lisbon now.

About prices, I only know what I've read. Yikes.

Seems the government didn't consider the unintended side effects of giving tax incentives to high value added workers, and pensioners. And the money laundering side effects of the Golden Visa. Nor the Portuguese reaction of turning their units into Airbnbs. Good luck with the crack down. Took them a long time to begin to enforce AF units. Now you have to include the AF number in any advertisement. Not so for apartments supposed to be registered with Financas. Landlords don't do that because the tax man gets 10% of the rent, though I'm not sure if that's 10% of the first month or 10% of every month.

I'm for anything that makes it easier for the Portuguese to afford apartments, and easier for newcomers to find one.

 

[Tiger8693]

Sorry if already discussed anywhere, but has anyone (actually) moved outside to avoid high HI costs from say late 50’s to 65, then moved back to US once eligible for Medicare? Interested in results, locations and experience with it.

 

[NYEXPAT]

I moved overseas at age 49 but did not have HI in the USA and don't have it now. I will be moving back to the USA next year and will enroll in Medicare, but it is not the reason I will be moving back, although it is a benefit of sorts.

 

[spencerbb]

I have lived in Thailand for going on 3 years now

Thanks for the responses. MikeW ... you mentioned that retirement visa requirements in Thailand seemed to be in flux. May I ask what you've been hearing? From what I read, one can retire there if you are 50 years old and meet some other requirements, but there is at least one person on this board who I believe is retired there and in his 30s... I tried calling the immigration office in Thailand to clear things up and got lost in an infinite telephone menu loop.

Saver

If you are 50 years of age or older, you can qualify for a retirement visa in Thailand. There are certain monetary rules that you need to meet in order to obtain the visa. The one i find easiest is to deposit 800,000 (24-25k USD)thai baht into a Thai bank account. This amount satisfies the rule and I have never had an issue renewing. They do offer a lesser amount if you have a guaranteed income such as social security, but you would need a combination of this guaranteed monthly income and this would allow you to qualify on a smaller amount in the bank. I've never used that option as I am too young to get SS.

 

[ncbill]

Sorry if already discussed anywhere, but has anyone (actually) moved outside to avoid high HI costs from say late 50’s to 65, then moved back to US once eligible for Medicare? Interested in results, locations and experience with it.

On another forum I recommended an extended vacation in Mexico to a couple (63/64) who were facing unsubsidized ACA premiums of some unreal amount...nearly $30,000/year, IIRC.

I found a "outside the USA/Canada" policy ($1000 deductible, $5 million limit) for about $300/month, given their ages.

 

[bmcgonig]

On another forum I recommended an extended vacation in Mexico to a couple (63/64) who were facing unsubsidized ACA premiums of some unreal amount...nearly $30,000/year, IIRC.

I found a "outside the USA/Canada" policy ($1000 deductible, $5 million limit) for about $300/month, given their ages.

What policy was that?

 

[Kroeran]

Barbados has some options.

“The retiree must own property in Barbados valued at US $150,000 or higher and have health insurance. For retirees over 60 years of age, there is a one-time fee of US $5,000. This fee covers the applicant and spouse. Special Entry permits granted to people over 60 are valid for the permit-holders lifetime.”

We are Canadians who snowbird to Florida but are chaffing at the 6 month US cap. Spent a week in Barbados last winter and found it disturbingly polarized between destitution and extreme wealth. Amazed I got through the week without a driving accident. Wife ruled Barbados out for setting up a household because of the terrible roads between the affordable ex pat neighbourhoods, ie Vuemont, and decent groceries down in Holetown.

 

[explanade]

Isn’t that common for the smaller islands in the Caribbean?

Very high end real estate from rich migrants and poor natives with little in between?

 

[JakeinChina]

Barbados has some options.

“The retiree must own property in Barbados valued at US $150,000 or higher and have health insurance. For retirees over 60 years of age, there is a one-time fee of US $5,000. This fee covers the applicant and spouse. Special Entry permits granted to people over 60 are valid for the permit-holders lifetime.”

We are Canadians who snowbird to Florida but are chaffing at the 6 month US cap. Spent a week in Barbados last winter and found it disturbingly polarized between destitution and extreme wealth. Amazed I got through the week without a driving accident. Wife ruled Barbados out for setting up a household because of the terrible roads between the affordable ex pat neighbourhoods, ie Vuemont, and decent groceries down in Holetown.

Thanks for the info on the Barbados. I'm always looking for other alternative options to ER outside the U.S. as are many on this forum. I'm not sure I would consider the caribbean as the tend to be expensive COL, as well as the population seems very divided between poor locals and higher end expats. Plus I'd prefer a change of seasons to always being hot.

 

[Retired Expat]

This thread has gotten far from the original topic of Retirement Visas so I will touch on a few points.

First there are many countries without a formal “Retirement Visa” that welcome retirees. Really the issue is if you are seeking permanent residency or not. If you don’t intend to spend more than half the year abroad or maintain a US residence you really don’t need it. I moved to Uruguay and have permanent residency here. Of course I still pay US federal taxes. I think it gives me the best options like access to expat insurance.

On the insurance front it will depend where you live. No US coverage is by far the cheapest but if you are in a country with questionable medical care and want to really understand what is going on you may want that option of coming back to the states for advanced care. You can mix and match, get access to hospitalization in the US but outpatient only outside, you can pass on prescription drug coverage as I do since everything I need is over the counter here for the same or less as generic co pay in US without premiums or deductibles.

Bottom line is you really need to shop around and compare, ask a lot of questions and determine what is right for you

 

[Retirement_Rookie]

I am retired in Germany. Officially moved here November of 2017. Went to the government office, told them I was retired, showed them my financial resources and proof of medical insurance and was granted a one-year residence permit. It was a twenty minute process plus twenty minutes waiting time. Just renewed it for two years. Because I write occasionally I renewed with permission to exercise free lance employment with government permission. No hassles whatsoever. The renewal process was also about twenty minutes. Now, granted I am a U.S. federal retiree, but the process has been entirely hassle-free.

I spend here in Germany what I'd calculated I'd spend in San Miguel de Allende in Mexico (where I'd also been looking at retiring). Life is good here, although in winter it can get a little sad here. Still -- better than Massachusetts, where I was living before I came here.

 

[Dd852]

I am retired in Germany. Officially moved here November of 2017. Went to the government office, told them I was retired, showed them my financial resources and proof of medical insurance and was granted a one-year residence permit..

That’s fascinating information. Thanks. I suppose the key is you proved you’d have no need for any social services. What’s the tax situation? Under that permit does Germany tax pension/dividends ? Presumably it does have first call in taxing any freelance income.