An expat is a person who lives in a country outside of their birth country. People often assume that an expat will eventually return to their previous country, but this isn’t always the case.
There are lots of expats who move overseas and decide to stay forever. The main reason that we recommend people look into overseas real estate is to improve their standard of living. Prices are low enough that you could live a dream life on as little as a social security check.
Real estate prices are often cheaper when comparing like for like. Sell your home to buy in Portugal, Italy, Colombia, or Panama you can find get a similar property with plenty of cash left over.
Why Become An Expat?
Expats move overseas for various reasons, one of the major reasons is work. These expats have either been offered jobs overseas, or have seen the opportunity to open a business in another country. Recently remote workers and digital nomads who run their business online are moving overseas. There are a couple of nice benefits to this lifestyle. They’re able to take advantage of the lower cost of living, and experience new cultures, without compromising their ability to work.
Another major reason that people become expats is for lifestyle. You can dramatically improve you’re standard of living and
Can Expats Truly Integrate Overseas?
One of the myths about being an expat is that you always be apart from the local community to some extent.
In many cases this is true, but it doesn’t have to be.
If you want to integrate into the local community there are a few things you can do to help the process. The first is to learn the language. This has to be you’re top priority, without it you will always be an outsider.
Another way to integrate is to join some local clubs or teams. This is the perfect way to meet with people who have the same interests, and start making some connections.
Do Expats Still Pay Tax?
United States citizens have to make payments to the IRS every year, no matter what. The only way to avoid this is to renounce your citizenship. Citizens from other countries can reduce their tax burden to zero by moving overseas.
Lots of countries offer tax benefits for expats though. In Latin American countries expats are often given a tax exemption on Pensions paid in from overseas.
What Are The Best Countries For Expats?
Every year we rank the best countries to live or retire in. Our updated rankings for 2021 are being worked on at the moment.
However there are a few countries that always score well, and will almost certainly make the grade again next year. These are;
- Dominican Republic
These countries all offer a high standard of living, great weather, and the chance to live better for less.