“Kathleen, my husband and I live in Saskatchewan, Canada, and are in the process of selling everything we own in order to plan a move to Central America. Tops on the list are Belize or Costa Rica, though we definitely have an open mind regarding other countries.
“I see that many of your posts refer to moving from the USA, but of course laws are somewhat different in Canada regarding moving your money, etc. We’ve definitely made up our mind to go, likely by October/November 2012.
“Any personal advice for us? We’d love to hear from you!
“I see most recently you are in Medellin. One of my husband’s closest friends moved there seven years ago to marry a woman he met online. They are super happy together but he, for unknown reasons, isn’t happy with Medellin. My guess is it’s because he’s a Saskatchewan farm boy at heart and he’s living in a city of 3 million. From all accounts, minus the 3 million people, I think I’d love it there as you do.”
–Lois J., Canada
Unfortunately, I don’t know much about Canadian tax law. However, as I understand things, as a Canadian, if you set up your affairs properly, when you leave Canada, you become non-resident and thereby are no longer taxed in Canada on your worldwide income. Lucky Canadians.
Other than the home country tax rules, moving to another country isn’t different in most cases for a Canadian than for an American. In other words, all the information we provide beyond the tax-specific is as relevant for you as for our American readers.
Regarding where you should go: What are you looking for? That is, what kind of lifestyle would you most enjoy?
Start there. Belize and Costa Rica are very different places…
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“Lief, some time ago, you recommended an investment in a Brazil coconut farm. This is a British-owned company called Liquid Investments.
“I am wondering what due diligence you have done on this. Have you been on-site? Have you personally committed funds to this? If so, is this still looking like a worthwhile endeavor to put some funds into as a mid to long-term investment?”
–Richard E., United States
Yes, yes, and yes. I’ve been to the plantation, the plantation management partner’s operation, and one of the coconut processing plants the group is already selling to. Kathie and I have invested in 6 hectares of the hybrid coconut plantation ourselves.
As for whether the investment makes sense for you, I’ll leave it to you to decide. You should analyze how it might fit into your portfolio overall.
Remember, we’re not investment advisors. This investment has the potential to throw off some decent cash flow when the trees begin to produce, but, as you mention, it’s at least a medium-term play.
We like it. We have invested. Beyond that, you must make your own determination.
Continue Reading: Why Retire Overseas?
