May 27, 2014
"Kathleen, I read the Overseas Opportunity Letter every time it's in my inbox. I was wondering what experts in international legalities can I contact for specifics related to Canadians who want to retire or live overseas as I believe we have some differences from U.S. expats? Who may I contact in Canada to get information for Canadians? "Thank you for all the information. You all work very hard to get out to everyone considering this as an option in their lives." --Leslie T., Canada All information we provide is as relevant for Canadians as for Americans with one exception, which is taxes. The tax situation is different for Canadians than for Americans. The good news is that it is different in very good ways and much simplified.
Sept. 1, 2011
"Kathleen, I read your newsletters frequently and have read your book. Keep up the good work. I love all the info! I have heard quite a bit about Ecuador, specifically Quito, Cuenca, Vilcabamba, and Cotacachi. All of these places obviously have pros and cons depending on what you are looking for.
"However, I have never heard anything regarding Guayaquil, Ecuador's largest city. What are your thoughts on it compared to say Quito and Cuenca in terms of affordability, crime, climate, etc.? Any thoughts you have would be welcomed and I would love to see your response in your Mailbag!"
--Mark C., United States
Guayaquil had a reputation for being unsafe, and it's one place in the world I've visited and felt uncomfortable, like I should be looking over my shoulder. I haven't been to the city in some years, though, and I've been told that the situation has improved in recent years.
Safety concerns aside, Guayaquil doesn't have much appeal overall. It's the business capital of the country. Perhaps if you have a specific business interest, basing yourself here could make sense. Otherwise, Ecuador offers many better options.
"Kathleen, what requirements do I need to satisfy to become a part-time resident of a country? A full-time resident? I know for some of the countries you recommend there are requirements related to how much assets you have."
--Jacqueline P., United States
You can be a part-time resident (for, say, three to six months, depending on the country) most anywhere in the world on an easily acquired (meaning no financial requirement) tourist visa.
The requirements to qualify for full-time residency vary country to country, and not all countries roll out the welcome mat for foreign retirees. Important exceptions right now include Panama, Belize, Uruguay, Nicaragua, and Malaysia, all of which offer user-friendly retirement visa programs. We've published a report that details the different requirements for residency in 18 of the world's top overseas havens right now, available here.Continue Reading:
Aug. 9, 2011:
"Kathleen, it's my understanding that Americans do not have to report offshore bank(s) accounts with a combined balance under US$10,000. Will the HIRE Act require foreign bankers to report accounts with balances under US$10,000?"
--Jim S., United States
No, only those accounts with balances exceeding US$10,000.
"Kathleen, you often mention the QRP program in Belize, as well as Panama's pensionado program and other retirement residency statuses. I'm wondering if, as a resident with pensionado or official retiree status in a foreign country, would both members of a couple be restricted from taking a job? Could the spouse of the retiree work in that country, or are both individuals restricted?"
--Sheila S., United States
Yes, both members of the couple would typically be restricted; however, some countries allow residents with pensionado (or "retiree") status to start businesses.
"Kathleen, I just got back from a great three weeks in Belize. Real nice place. The pace of life is like 25 years ago in the United States.
"I'm wondering if you know any ways to get around the fund-source information required to open a bank account in this country?
"I tried several banks in San Ignacio, but they're all too intrusive."
--Kat G., United States (for now)
No, I don't. No bank in the world right now (I'd bet) is going to open an account for someone, particularly an American, without asking about the source of the money being used to fund that account.
Kathleen Peddicord'sNew Book
An Expert Guide To The Advantages And The Challenges of Investing In Real Estate Overseas..." Learn More
Sign up to receive free dailydispatches from the "Guru of Overseas Retirement and Opportunities"
Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.
Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
Read more here.
Sign up for the Overseas Opportunity Letter
Receive our editor's latest research reports...absolutely FREE!
The Best Places For Living And Investing in the World for 2014
Receive a FREE copy of
The Six Cheapest Havens
To Retire In 2014
Discover the six best places in the world right now to live better and retire well...on as little as US$700 a month!
“We will not share or rent your email address to or with anyone else, period!”
Hey, I'm already a reader of Kathleen's e-letter. I don't need to see this popup ever again.