If I want to live in Mexico, what’s the difference between citizenship and residency?
Juan Eufracio Marquez Flores - LM&A Immigration and Legal Services
To add more information to Spencer's answer, as a tourist any person can own property or purchase property in Mexico. (A tourist cannot purchase property near a border of the sea or lake. Only Mexicans can purchase property within certain meters of the shore of the sea).
Also as a residente temporal status you cannot be a shareholder in Mexican corporations, or open or start a Mexican corporation.
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To add more information to Spencer's answer, as a tourist any person can own property or purchase property in Mexico. (A tourist cannot purchase property near a border of the sea or lake. Only Mexicans can purchase property within certain meters of the shore of the sea).
Also as a residente temporal status you cannot be a shareholder in Mexican corporations, or open or start a Mexican corporation.
To work in Mexico the Instituto Nacional de Migracion (the Mexican immigration department) requests that any Mexican corporation or employer in order to hire a foreigner must have more Mexican employees than foreign ones. Also a foreigner with residente temporal or residente permanente cannot work in the Mexican government.
I live in a community on the Pacific Coast of Nicaragua and I do not recommend drinking the water from the tap. While other comments on this site have suggested the water is "generally" safe, I think its important to consider your water source very carefully.
The body needs significantly more water here in Nicaragua, which means you should be drinking about double what you drink in a normal climate. Now, your body will be digesting the water...
I live in a community on the Pacific Coast of Nicaragua and I do not recommend drinking the water from the tap. While other comments on this site have suggested the water is "generally" safe, I think its important to consider your water source very carefully.
The body needs significantly more water here in Nicaragua, which means you should be drinking about double what you drink in a normal climate. Now, your body will be digesting the water differently as well since it will use it to cool off.
I experimented with drinking the local "aquifer" water for about a week. While I was not sick with obvious ailments one may witness in the bathroom, there was a very heavy feeling in my lower abdomen which was caused by the heavy metals that are not cleansed from the underground source.
The best option is too buy a reverse osmoses purifier and hook it up in your house. My boss has this system, and it is great. It is cost effective as well. I just use the large 5 gallon bottles currently, but once I move to a permanent location I will be using a reverse osmoses system as well.
Does Portugal have any special retirement program or retirement benefits?
Duncan MacGregor - Duncan MacGregor Accounting
The Portuguese government introduced the Non-Habitual Resident Scheme in 2009, which has only really taken off since 2011. It is designed to attract retirees from other countries to come and retire in Portugal. Under this scheme, for 10 years retirees from other countries will not have to pay any Portuguese income tax on their pension. If one’s pension is tax-free in the country from where it is sourced if the retiree lives abroad, then a retiree can move to Portugal and...
The Portuguese government introduced the Non-Habitual Resident Scheme in 2009, which has only really taken off since 2011. It is designed to attract retirees from other countries to come and retire in Portugal. Under this scheme, for 10 years retirees from other countries will not have to pay any Portuguese income tax on their pension. If one’s pension is tax-free in the country from where it is sourced if the retiree lives abroad, then a retiree can move to Portugal and pay no tax on his pension, either here in Portugal or in their home country, for a period of 10 years.
That is the only retirement program here in Portugal. If you live here in Portugal, you work here, and then you retire, you get no pension relief at all. Pensions are taxed just like salaries here in Portugal. If you are not qualified under the Non-Habitual Resident Scheme then you don’t get any tax benefit at all.
To qualify for the Non-Habitual Resident Scheme, one has to move here to Portugal and be a tax resident by renting or buying a property. Then he can apply to benefit from this program. For example, you are from the UK and you move to Portugal, you qualify as a tax resident of Portugal for the Non-Habitual Resident Scheme. The UK will no longer tax your pension because you are already living in Portugal and under the Non-Habitual Resident Scheme, Portugal will not tax your pension either for a period of 10 years. However, this rule doesn’t apply if you are on a civil servant pension because that continues to be taxable in the UK. The Non-Habitual Resident Scheme applies to private pensions.
(In the town of São João Arga de, Portugal, pictured.)
What should I be most concerned about regarding retiring abroad?
Tom Zachystal - IAM
There are a number of financial planning issues people face that are unique to retiring abroad as compared to retiring in your home country:
If your retirement savings are held in your home country they may be denominated in a different currency from that in which you will spend. This can lead to considerable currency risk. As an example, consider that the Euro has strengthened by 30% vs. the USD over the last decade or so.
Inflation rates are generally higher in developing countries...
There are a number of financial planning issues people face that are unique to retiring abroad as compared to retiring in your home country:
If your retirement savings are held in your home country they may be denominated in a different currency from that in which you will spend. This can lead to considerable currency risk. As an example, consider that the Euro has strengthened by 30% vs. the USD over the last decade or so.
Inflation rates are generally higher in developing countries than developed countries. So if you plan your retirement expenses using a 2.5% or 3% inflation rate but move to, say, Mexico, where inflation is typically around 5%+, your savings may not support your lifestyle throughout retirement.
You may not be able to keep the bank or retirement accounts you now have in your home country once you are no longer a resident. This is especially an issue for Americans moving abroad since many US financial firms no longer will deal with non-US residents.
Is it safe to drink the water in Placencia, Belize?
Paul Smith - Placencia Mini Storage
I've been told that the water in Placencia is the safest water to drink in all of Central America. I believe that, too. I personally think it is better than the water in the States where I'm from, Berlin, Maryland. You can taste the chemicals in the water where I'm from. The water here tastes like JUST water. I cannot taste anything that may have been added.
That being said there is store bought reverse osmosis water...
I've been told that the water in Placencia is the safest water to drink in all of Central America. I believe that, too. I personally think it is better than the water in the States where I'm from, Berlin, Maryland. You can taste the chemicals in the water where I'm from. The water here tastes like JUST water. I cannot taste anything that may have been added.
That being said there is store bought reverse osmosis water available in all the stores. A 5 gal. bottle cost about $6 bz or $3 us. That is the highest quality you can get and it's affordable.
(Belize River, south of Placencia, Belize, pictured.)
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