What are the expats like in Chapala and Ajijic, Mexico?
Thomas Hellyer - Chapala Home Sales
We have all types of expats in Chapala and Ajijic. The expats here are a mix of younger, older, very young, very elderly, and they come from all over the world. There is a good representation of Europeans here. Certainly there are Canadians and Americans, too. We have all types of religions, all types of persuasions covered here as well.
At the end of the day, the expats in Chapala and Ajijic are a pretty interesting group of people. They are fairly well educated....
We have all types of expats in Chapala and Ajijic. The expats here are a mix of younger, older, very young, very elderly, and they come from all over the world. There is a good representation of Europeans here. Certainly there are Canadians and Americans, too. We have all types of religions, all types of persuasions covered here as well.
At the end of the day, the expats in Chapala and Ajijic are a pretty interesting group of people. They are fairly well educated. They are a group of people that have traveled a lot and we all have things in common. We are from different areas and we have different outlooks in life, but we all left our comfort zone and our home country and in many cases, left our families and our lifetime friends in order to come down here. The expats in Chapala and Ajijic have a bond. We help each other out. We become each other’s family when we are sick or have a need of some kind or if we want to celebrate a holiday or a birthday. That makes for a fun and interesting lifestyle for the expats.
The expats in Chapala and Ajijic are very social and there are a lot of A-type personalities so that people like me, who were introverts back home, become extroverts here because of our lifestyle and the fun people around us. Part of that are the Mexicans who always want to find a reason to celebrate, which kind or rubs off on the boring, old gringos.
(Thomas Hellyer running into friends in and around Lake Chapala, Mexico, pictured.)
How does the Foreign Earned Income Exclusion work?
Tabitha Paddock - Greenback Expat Tax Services
The Foreign Earned Income Exclusion (FEIE) is a great tool that can be used to limit (or even eliminate) dual taxation while living abroad. With the FEIE, qualified expats can exclude over $97,000 (for 2013 tax year) of earned income from being taxed in the US!
In order the qualify for the FEIE you must pass one of two tests; either the Bona Fide Resident Test (live fully in the country and have no intentions of returning to the US) or the Physical Presence...
The Foreign Earned Income Exclusion (FEIE) is a great tool that can be used to limit (or even eliminate) dual taxation while living abroad. With the FEIE, qualified expats can exclude over $97,000 (for 2013 tax year) of earned income from being taxed in the US!
In order the qualify for the FEIE you must pass one of two tests; either the Bona Fide Resident Test (live fully in the country and have no intentions of returning to the US) or the Physical Presence Test (living abroad for over 330 days in any 365 day period).
If you pass one of these tests, you can then exclude up to $97,600 from being taxed in the US (up to $195,200 for Married couples filing Jointly). Just fill out Form 2555 and attach it to your US Federal return.
Unfortunately, foreign income from sources such as dividends, interest and rental income are not included since this income is not “earned” in the IRS’s view. In addition, US based income from things such as pensions will not qualify for this exclusion because it was not earned inside a foreign country.
The currency being used by Portugal is the euro. If you have dollars and you are coming for a vacation from the US into Portugal, or if you have pounds from the UK or Swedish krona from Sweden, you could buy euros at your local bank. It is also possible to buy traveler’s checks although I don’t see a lot of people using traveler’s checks these days any more, but they come with a guarantee and protection, so a traveler’s check is a more suitable choice...
The currency being used by Portugal is the euro. If you have dollars and you are coming for a vacation from the US into Portugal, or if you have pounds from the UK or Swedish krona from Sweden, you could buy euros at your local bank. It is also possible to buy traveler’s checks although I don’t see a lot of people using traveler’s checks these days any more, but they come with a guarantee and protection, so a traveler’s check is a more suitable choice especially for the older generation.
You can also simply use your ATM or cash withdrawal cards in most local ATMs in Europe. Your bank will charge you for doing so. You could withdraw euros at the local ATMs in Portugal and then you will get a bill in the US in dollars with the rates stipulated by the banks.
If you are coming to Portugal for a longer period then we recommend that you use a currency broker because currency brokers can transact millions of dollars, pounds, or whatever currency per day. They would be able to get you a better rate and allow you to get “more euro for your buck”.
(Money clip of Portuguese coin before the euro, pictured.)
What's the crime rate against Americans and other expats in Bocas Del Toro, Panama?
JB Seligman - BUENA VISTA REALTY located in BOCAS DEL TORO, PANAMA
Most of the expats who live here in Bocas Del Toro know and understand the area, and they understand the people and their culture, so they are much less apt to have some type of crime inflicted upon them. There is crime here in Bocas Del Toro, like there is anywhere in the world. You just have to understand where you fit into this society and make sure that you do not put yourself in harm’s way.
Typically, tourists go to the beach, put their...
Most of the expats who live here in Bocas Del Toro know and understand the area, and they understand the people and their culture, so they are much less apt to have some type of crime inflicted upon them. There is crime here in Bocas Del Toro, like there is anywhere in the world. You just have to understand where you fit into this society and make sure that you do not put yourself in harm’s way.
Typically, tourists go to the beach, put their backpacks down, and go swimming. That is a big “no, no” down here in Bocas Del Toro. You ought to have somebody with your belongings at all times on the beach. “Snipers,” as we call them, run out from the woods. They snatch your bags, take your valuables out, and throw your bags away. Hardly anybody ever loses their passports or credit cards, because those things are not valuable to these opportunists.
What are the best things to do in and around Corozal?
Dennis Jackman
If you’re under 18, there’s really nothing to do in Corozal. If you’re over 18, you can go down to the bars and drink on the weekends every night, or every other night. There are no attractions in Corozal.
If you can go out to Ladyville, they have the Maya Ruins, but that’s about 40 minutes outside of Corozal. If you’re going to visit Corozal, then chances are you’re probably going to visit Mexico, which is 15...
If you’re under 18, there’s really nothing to do in Corozal. If you’re over 18, you can go down to the bars and drink on the weekends every night, or every other night. There are no attractions in Corozal.
If you can go out to Ladyville, they have the Maya Ruins, but that’s about 40 minutes outside of Corozal. If you’re going to visit Corozal, then chances are you’re probably going to visit Mexico, which is 15 minutes away.
Corozal itself is more of a retirement settling place. It’s not a place you visit to have fun. It’s more of a place you want to move to, and retire and relax in.
The village where I live, outside of the center of Corozal, is where the fishing boats are made, and is where the fishermen leave and return. The fishermen bring their catch into Belize City and sell it.
When it comes to fishing, it’s mostly done on the other side of the reef, which is in San Pedro (on the island of Ambergris Caye) or in Placencia, both of which are a good distance away. I’ve never seen somebody throw a fishing pole by the sea in my village here except for me. Fishing is not really an item from the mainland.
As you meander through the village of Boquete you would have to be blind not to notice the beautiful Latin faces. Handsome men and boys; beautiful women and girls, precious babies coming and going up and down the streets each day. The Indian women in their brightly colored dresses; children in school uniforms; teenagers wearing the fashionable logos and labels they love. Even the poorest people are very clean, (unless they are working or just running errands while working.)
Since my arrival in Panama I have made many business connections, some of whom are in Costa Rica. It was finally time to make a trip across the border to meet some folks and tackle the dreaded border crossing that many expats experience frequently for different reasons. Having researched the immigration requirements and talked to many who have made the crossing, I expected things to be somewhat different, and not in a good way. To my surprise, the trip was uneventful and...
One of the best things about moving to Panama is that I have met and I am now friends with people who I would have been likely to even meet at a coffee shop back in Toronto. My group of amigos range from 30 years to 65+ years in age and come from all walks of life and corners of the earth. In the last few months a group of these "unlikely's" as I would call them got together with a common interest and goal of completing a series of Triathlons in Panama. It really happened at a...