What are the construction standards in Puerto Vallarta?
David Schwendeman - Mexlend
The construction standards in Puerto Vallarta are excellent. I wouldn’t say they’ve been always excellent but there was an earthquake in 1995 that shook things up a bit. Fortunately, there was no major damage or loss of life.
Consequently, post 1995, construction laws, norms, and practices really got beefed up. As a result, where in the past you might have seen a lower grade of rebar prior, now you’re seeing thicker and more...
The construction standards in Puerto Vallarta are excellent. I wouldn’t say they’ve been always excellent but there was an earthquake in 1995 that shook things up a bit. Fortunately, there was no major damage or loss of life.
Consequently, post 1995, construction laws, norms, and practices really got beefed up. As a result, where in the past you might have seen a lower grade of rebar prior, now you’re seeing thicker and more substantial rebar and reinforced concrete. It’s just something to be aware of if you are looking to buy a home or condo. Your property inspector would be a great asset in determining the quality of construction.
The building permit process is fairly structured and there are site inspections just like in the US and Canada. With that said, we’ve built several homes in the US and in Mexico. Generally, the US is more rigid with a lot of paperwork and stricter zoning laws. It is a little easier in Puerto Vallarta and Mexico as a whole. But there are still laws and practices to abide by.
(Pool overlooking the "romantic zone" in an apartment/hotel, Puerto Vallarta, Mexico, pictured.)
How are the homes in Panama different than in the US or Canada?
Gonzalo de la Guardia - Panasurance
In the US, since for the most part there is no house help like a cook or a maid, life is around the kitchen. So in the US, the kitchen is an open area where people sit around while you are preparing food and you can talk about your day. In the US, the kitchen is the more or less, the center of the house. In Panama, generally, the kitchen is out of sight because that is where the cook is. That is how Panamanian houses are constructed. They have a maid’s quarters or a maid’s...
In the US, since for the most part there is no house help like a cook or a maid, life is around the kitchen. So in the US, the kitchen is an open area where people sit around while you are preparing food and you can talk about your day. In the US, the kitchen is the more or less, the center of the house. In Panama, generally, the kitchen is out of sight because that is where the cook is. That is how Panamanian houses are constructed. They have a maid’s quarters or a maid’s room. So the strategy in designing the rooms in the house is different.
In the new buildings that I have seen, I can see that the expats have imported the concept of the open kitchen, which is now part of the apartment. So expats usually find very amenable places here in Panama because expats do not usually like having a maid in their homes. That is just not part of their culture. They usually just hire somebody to work for the day and when the day is over, the help they hired are gone. Panamanians are used to having maids. When I was growing up, our family used to have maids who took care of us. Sometimes maids are even treated as part of the family because they have been with the same family for thirty years.
I would say that the architecture of Panama has been very accommodating to new challenges that are the result of different customs and how people live differently now.
In Panama City, generally, expats do not buy homes; they buy apartments not only because apartments were just recently built but because most apartments are already fitted with everything an expat would need.
Are there American-trained doctors in Granada, Nicaragua?
Janice Gallagher - Granada Property Services
In Granada, Nicaragua, there are a couple of American-trained dentists, but no American-trained doctors. There are, however, several good doctors here in Granada.
For example, we use Dr. Blanco, who is from Cuba and was trained in several other countries as well. Dr. Blanco speaks English and he makes house calls. I’ve had several clients for whom Dr. Blanco made a house call when they were sick or their children were sick and all of them were satisfied. ...
In Granada, Nicaragua, there are a couple of American-trained dentists, but no American-trained doctors. There are, however, several good doctors here in Granada.
For example, we use Dr. Blanco, who is from Cuba and was trained in several other countries as well. Dr. Blanco speaks English and he makes house calls. I’ve had several clients for whom Dr. Blanco made a house call when they were sick or their children were sick and all of them were satisfied.
In contrast to what you may think, the Cuban-trained doctors are excellent. Here in Nicaragua, we have many doctors who go to Cuba to be trained.
There are several other doctors in Granada who are very good but who don’t speak English. If you have something very serious, I would recommend you go to Hospital Metropolitano Vivian Pellas, which is about 45 minutes away, and where there are lots of American-trained doctors.
In general, what do I need to know about FBAR (Foreign Bank Account Report)?
Jay Butler - Asset Protection Services of America
According to the Foreign Bank and Financial Authority (FBAR) regulations, the IRS must allow individuals to open private offshore bank accounts. So long as the aggregate value of all foreign financial accounts does not exceed $10,000 (USD) at any time during the calendar year, the assets need not be reported. Be mindful of interest bearing accounts, for if your total offshore accounts exceed $10,000 (USD) the IRS requires you to report it or risk facing a maximum penalty of five years in...
According to the Foreign Bank and Financial Authority (FBAR) regulations, the IRS must allow individuals to open private offshore bank accounts. So long as the aggregate value of all foreign financial accounts does not exceed $10,000 (USD) at any time during the calendar year, the assets need not be reported. Be mindful of interest bearing accounts, for if your total offshore accounts exceed $10,000 (USD) the IRS requires you to report it or risk facing a maximum penalty of five years in prison and the loss of up to 50% of your assets.
Properly executed, the benefit to such a strategy of moving money offshore lies in having a family open an offshore bank account in the name of each family member in the amount of $9,990 (USD) into a non-interest bearing account. Provided a person is careful to adhere to established guidelines this is a safe way to quickly move tens of thousands of dollars out of the country, depending on the number of family members in your household.
The Internal Revenue Service (IRS) considers all income reportable regardless of the source or location derived and most assets held offshore are reportable, however some are not. When looking to preserve your assets it is important to understand the difference between taxable income and reportable assets. As with all offshore structuring, consult with your legal or tax advisor to ensure your activities are in compliance with the laws of your resident country.
How much does it cost for a gardener in Ambergris Caye?
Christian Burn
Grounds people are pretty abundant in Belize. If you need someone who actually knows something about landscaping, that is a different thing, but if you are just talking about maintenance gardening, you will spend about US $30 per day. Gardeners work for about half a day or about four hours per day
The price for $30 per day is for using equipment such as a weed whacker, a lawn mower, shears, or similar tools. If you are just getting a guy to rake the beach,...
Grounds people are pretty abundant in Belize. If you need someone who actually knows something about landscaping, that is a different thing, but if you are just talking about maintenance gardening, you will spend about US $30 per day. Gardeners work for about half a day or about four hours per day
The price for $30 per day is for using equipment such as a weed whacker, a lawn mower, shears, or similar tools. If you are just getting a guy to rake the beach, that would be about $10 per day.
You don’t have to own a car in the Algarve but many people do own cars here.
The Algarve is a little tricky in the sense that the distances can be misleading. Nothing is very far in the Algarve. A lot of people say they want to be able to be close to the coast, which they will define as about half an hour away, but you can be anywhere in the Algarve in half an hour’s drive.
But it is where you want to be in 5 to 10...
You don’t have to own a car in the Algarve but many people do own cars here.
The Algarve is a little tricky in the sense that the distances can be misleading. Nothing is very far in the Algarve. A lot of people say they want to be able to be close to the coast, which they will define as about half an hour away, but you can be anywhere in the Algarve in half an hour’s drive.
But it is where you want to be in 5 to 10 minutes walking distance that becomes tricky. There are lots of these areas, residential suburbs in the outskirts of towns and cities, which are generally too far to walk into a town and just too uncomfortable for public transport, which is sometimes infrequent on these small secondary roads. We find more and more people requesting a place that is within walking distance to the town center, shops, and restaurants because in that sense, you can do without a car. If you are in a town like Lagos, Portimão, or Faro you will find that they have the bus networks that can take you anywhere in the city so you wouldn’t need a car.
If you are going out of the town or the cities, having a car is definitely advisable.
(The beach at Praia da Luz, Algarve, Portugal, pictured.)
Presented with permission from Bob Adams of Retirement Wave
Folks often ask me what’s important that I do when I get to Panama.
“Do I need to learn the language?”
“Is there some place I can go to learn the culture?”
“Should I travel around the country?”
Basically, while all these things are interesting and they’re good things to do, the most important thing for the entirety of the time you’re here, in...
It is the same sun after all. Places seem familiar when you arrive in Panama City. You recognize the clean modern airport at Panama City as being so much like the airports in the United States. As you leave by car, taxi or bus you still feel quite impressed by the ease of it all. Once away from the airport, passing shopping venues, multi story apartments and condos, there are billboard signs with well known brand names the same as in the places you left behind. After a...
Panamá has always been a country with warm and friendly people who welcome all nationalities. It has also been a place of transit since the 15th century, when visitors came with gold from Perú to Spain. Later, with the construction of the Panamá Canal (considered one of the Eight Wonders of the World), workers from all the world wanted to be part of this great mega-project.