If the sales contract for my real estate purchase in Mexico is in Spanish and English and if there is a difference in the two contracts, which one controls?
Carmella Peters Romero - Peters & Romero
The language of the courts in Mexico is Spanish, and therefore contracts will also be in Spanish. You may have a contract translated into English, but because the Spanish contract controls in the event that there are discrepancies between the two, we recommend that you hire a translator to prepare a certified copy of the Spanish contract.
Foreigners making use of certified translators can feel confident that a certified translation will...
The language of the courts in Mexico is Spanish, and therefore contracts will also be in Spanish. You may have a contract translated into English, but because the Spanish contract controls in the event that there are discrepancies between the two, we recommend that you hire a translator to prepare a certified copy of the Spanish contract.
Foreigners making use of certified translators can feel confident that a certified translation will accurately reflect the original version of the contract – we have used certified translators many times in our business without problems. Non-Spanish speakers might also consider hiring a bilingual attorney to help them with contract negotiation process.
What's the best way to choose a real estate agent in Panama?
Chris Frochaux - Chris Frochaux - SERVMOR REALTY
The best way to choose a real estate agent in Panama would be to request his or her license number. In many states in the U.S., such as Florida for example, it's a felony to practice real estate without a license, which is punishable by jail and fines. A license is also mandatory in Panama, but the law is loosely enforced. It's obviously hard to come up with precise figures, but I suspect the majority of so-called "agents" operate without a license, without experience and...
The best way to choose a real estate agent in Panama would be to request his or her license number. In many states in the U.S., such as Florida for example, it's a felony to practice real estate without a license, which is punishable by jail and fines. A license is also mandatory in Panama, but the law is loosely enforced. It's obviously hard to come up with precise figures, but I suspect the majority of so-called "agents" operate without a license, without experience and without any sense of ethics. Especially the "independent agents" who don't even carry a business card (to better cover their tracks). If they do not carry a real estate license (a blue plastic card, similar to a credit card) you'd better move on... Please note however that an agent associated with a bona fide real estate company is covered by the company's license and is not required to be individually licensed. Those usually carry a business card with the company logo. Be especially wary of an agent demanding a fee: commissions are paid by the sellers, never by the buyers!
How's the adventure travel and activities in and around Placencia, Belize?
Boris Mannsfeld - Boris Mannsfeld & Associates
In Placencia, we have some of the best fishing and some of the best diving in the world. We also have some of the best sailing in the world. We have some great snorkeling and we have great kite boarding and wind surfing. Wind surfing is not very popular but it is available because we get strong winds and not a lot of big waves. Some of the nicest beaches in Belize are in Placencia.
Placencia is on the main road so you are connected to the mainland but still you have access to...
In Placencia, we have some of the best fishing and some of the best diving in the world. We also have some of the best sailing in the world. We have some great snorkeling and we have great kite boarding and wind surfing. Wind surfing is not very popular but it is available because we get strong winds and not a lot of big waves. Some of the nicest beaches in Belize are in Placencia.
Placencia is on the main road so you are connected to the mainland but still you have access to the jungle, the mountains, and the river. You can go zip lining, cave tubing, or you can go to the Maya ruins. You can go up the top and look for animals in the jungle. You can go birding, looking for toucans. You can also go river rafting. There are so many things to do in Placencia if you are someone who is into adventure travel.
How are the homes in Portugal different than in the US, Canada or the UK?
Ana Ferraz
The construction of homes in Portugal is very different than homes in England because homes in Portugal are built with bricks and tiles. Homes here are not very as well insulated as in England because of the difference in the weather. Portuguese use a lot of ceramic tiling, large terraces, and big windows. Central heating was just introduced in Portugal in the last 10 years. Air-conditioning is not very common because it is not needed unless you are in Lisbon since Lisbon is hotter than...
The construction of homes in Portugal is very different than homes in England because homes in Portugal are built with bricks and tiles. Homes here are not very as well insulated as in England because of the difference in the weather. Portuguese use a lot of ceramic tiling, large terraces, and big windows. Central heating was just introduced in Portugal in the last 10 years. Air-conditioning is not very common because it is not needed unless you are in Lisbon since Lisbon is hotter than in Cascais.
The architecture here in Portugal is different than in England because it is more Mediterranean. We use tiles and white walls. We usually have large living areas and bedrooms. We have big windows and French doors that open up to big terraces. There are terraces in the bedroom.
The construction of older homes here in Portugal is even more rustic; it’s more Portuguese. The way they do the tiles and the windows and doors these days are different. Most builders here now use aluminum and double-glazed glass.
What do I need to know about living overseas and retiring abroad?
John Ohe - Hola Expat Tax Services
You need to be ready to file taxes! The United States has a highly stringent policy when it comes to the taxation of its citizens and permanent residents (i.e., those with a green card). The US government taxes all of its citizens based on worldwide income, which means it does not matter where the money is earned. US citizens and permanent residents may be able to exclude up to $100,800 in foreign earned income provided they meet certain qualifications. Given the high exclusion...
You need to be ready to file taxes! The United States has a highly stringent policy when it comes to the taxation of its citizens and permanent residents (i.e., those with a green card). The US government taxes all of its citizens based on worldwide income, which means it does not matter where the money is earned. US citizens and permanent residents may be able to exclude up to $100,800 in foreign earned income provided they meet certain qualifications. Given the high exclusion amount, most US expats end up not owing any taxes, although they are required to file a tax return. In countries with a higher income tax rate than in the US, it is often preferable to utilize the foreign tax credit, rather than the foreign earned income exclusion to eliminate US tax liability. The foreign tax credit addresses the issue of double taxation.
US persons (including entities) with an interest or signature authority over foreign financial accounts that have an aggregate balance exceeding $10,000 are required to file the FBAR (FinCen 114). The FBAR is separate requirement from your tax return. Failure to file the FBAR carries hefty penalties. Its important to note that with the implementation of FATCA (Foreign Account Tax Compliance Act), foreign financial institutions are providing the IRS with the details of foreign financial accounts held by US persons. As a result, non-reporting is an increasingly risky proposition.
Originally from Northern Ireland, and after a 10 year stint of working in the cruise industry and traveling extensively, I decided it was time to settle somewhere and find a "grown-up job"!
I decided on Puerto Vallarta in Mexico. I moved there with little more than two months rent in my pocket and a dream which I was aware would need a lot of luck and hard work to achieve. I arrived in October and was immediately drawn to the climate and the beauty and...
If you’re like me, with typical middle-class US suburban experiences and sensibilities, when you first arrive at Jocotepec, you are confronted with several things that just don’t seem right.
For starters (and this is not unusual for Mexico), what was to be our home for the next 10 days did not have any internal hallways. All the rooms were placed at the far rear of the property, closest to the mountains, so that the back wall of each room was...
Ok, so I’m British, and for me it is all about good manners, I was coming to live in a Spanish speaking country, so the least I could do was to learn the language! “How hard could it be?” I asked myself! Well, when my family and I started this adventure back in 2012, we took Spanish lessons every time we visited Panama, because right from the start, it was apparent that English was not widely spoken and if we were to live here, we really needed to be able to communicate! Of...