How bad are the mosquitoes and other bugs and insects in Chapala and Ajijic, Mexico?
Anne Dyer - Casita Montana
I haven’t seen any mosquitoes this year here in Chapala, which is kind of strange because Lake Chapala is only four blocks away from my place.
Mosquitoes and other bugs are not a problem for us. There are flies around but it is not bad. However, we fumigate consistently because our business is a health facility and a B & B. There are little roaches here and they could multiply if one does not fumigate and keep a place clean.
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I haven’t seen any mosquitoes this year here in Chapala, which is kind of strange because Lake Chapala is only four blocks away from my place.
Mosquitoes and other bugs are not a problem for us. There are flies around but it is not bad. However, we fumigate consistently because our business is a health facility and a B & B. There are little roaches here and they could multiply if one does not fumigate and keep a place clean.
(Casa Montana B & B Suites, Ajijic, Mexico, pictured.)
What are the home mortgages like in Panama? How long are home mortgage terms and how much down payment is required?
Bob Gugel - Origen Real Estate Panama
I thought it would be helpful to provide the terms and conditions for residential mortgages of one reputable bank in Panama.
GENERAL CONDITIONS:
Appraisal of property being financed. Cost of appraisal will be assumed by bank. Bank's percentage of financing is based on the lower of the appraised value or purchase price.
Opening of a saving or checking account, through which, the loan payments will be deducted. The...
I thought it would be helpful to provide the terms and conditions for residential mortgages of one reputable bank in Panama.
GENERAL CONDITIONS:
Appraisal of property being financed. Cost of appraisal will be assumed by bank. Bank's percentage of financing is based on the lower of the appraised value or purchase price.
Opening of a saving or checking account, through which, the loan payments will be deducted. The account should maintain a minimum balance equal to three monthly payments.
Borrower's life insurance for the amount of the loan endorsed to the bank.
Fire insurance policy covering 80% of improvements made to the property given as security.
Borrower to cover legal and registration expenses.
DOCUMENTATION REQUIRED:
Job letter and copy of two pay slips (for borrowers currently earning a salary).
Copy of the last two income tax returns and/or audited financial statements.
Two picture identification cards.
Asset verification (copy of bank account statements, real estate titles, bonds, common stock, etc.)
Copy of Purchase and Sale Agreement
Two copies of public utility bills of your current primary residence (water, phone, electricity)
Two bank reference letters from recognized banks, addressed to Panama bank.
Copy of a Reference Credit Report from your country of residence (Equifax or Transunion for USA or Canadian residents).
Note: The amount of loan will determine the percent of loan to value. Also, the age of the borrower cannot exceed 75 years.
Do I have to file my Canadian taxes if I retire, work or live abroad?
David Whittington - Tucan Golf Club and Resort
Personally, we have the Canadian Pension Plans plus we have the Old Age Pension, which are considered income so we still have to file on those. I believe that the only time you don’t have to file is if you supremely leave Canada; if you renounce your citizenship, etc.
However, we only have to pay income tax when the money is earned in Canada. We’re paying Panamanian taxes on the money we make here, but not Canadian tax. In Canada you...
Personally, we have the Canadian Pension Plans plus we have the Old Age Pension, which are considered income so we still have to file on those. I believe that the only time you don’t have to file is if you supremely leave Canada; if you renounce your citizenship, etc.
However, we only have to pay income tax when the money is earned in Canada. We’re paying Panamanian taxes on the money we make here, but not Canadian tax. In Canada you only can be taxed once on your income.
(Choosing at lot and home at Tucan Country Club and Resorts, Panama, pictured.)
To drive in Portugal, do I need Portugal automobile insurance?
Luis Rodrigues - Gouveia Pereira, Costa Freitas & Associates, Law Firm, RL
Under Portuguese law, each car needs to have a third party’s liability insurance to cover the damages that you may cause to other people in case of an accident. All risks insurance is also possible and common although not mandatory. Please note that these insurances relate to each car and not to the driver.
(Mazda 818 in Portugal, pictured.)
Under Portuguese law, each car needs to have a third party’s liability insurance to cover the damages that you may cause to other people in case of an accident. All risks insurance is also possible and common although not mandatory. Please note that these insurances relate to each car and not to the driver.
How much will I pay in real estate or property tax in Belize
Wayne Robbins - The Placencia
One of the reasons why I am personally building my home in Placencia is because the real estate taxes in Belize are miniscule. The cost for real estate tax for a house that is worth $500,000 to $1,000,000 would be around $200 a year. If you were in the States, the cost of real estate tax for a house worth $1,000,000 would be around $3,500 a year.
The low real estate tax rate in Belize is a major advantage when one is considering purchasing a home or condo in Belize. The...
One of the reasons why I am personally building my home in Placencia is because the real estate taxes in Belize are miniscule. The cost for real estate tax for a house that is worth $500,000 to $1,000,000 would be around $200 a year. If you were in the States, the cost of real estate tax for a house worth $1,000,000 would be around $3,500 a year.
The low real estate tax rate in Belize is a major advantage when one is considering purchasing a home or condo in Belize. The construction costs for real estate are lower than in other parts of the world as well. Overall, your cost to build is less, the quality is the same as in the US (especially on our projects), and your real estate taxes are very low.
The value of the American dollar is very strong in Belize. (The Belizean dollar is pegged at two Belizean dollars to one US dollar.) Everyone speaks English. There are a lot of reasons to look at a country like Belize and there is a lot of reasons to look at our projects in Placencia as to why one would want to buy their second or third home, or an income-producing property, whether they want to retire today or in the next 20 years. The time to buy or invest in a country like Belize could not be better.
(Penthouse in The Placencia Hotel and Residences, Placencia, Belize, pictured.)
Are there English-speaking doctors in Managua, Nicaragua?
Carolyn Membreño - León Travel Bureau
There are English-speaking doctors in Nicaragua but the frequency of you meeting an English-speaking doctor depends on which city in Nicaragua you are located. My ophthalmologist in León speaks pretty good English. There are a couple or cardiologists and other specialists in León that are also well-versed in English.
Many professionals, such as doctors and lawyers, do speak English; it is just that some of them speak better than others. In...
There are English-speaking doctors in Nicaragua but the frequency of you meeting an English-speaking doctor depends on which city in Nicaragua you are located. My ophthalmologist in León speaks pretty good English. There are a couple or cardiologists and other specialists in León that are also well-versed in English.
Many professionals, such as doctors and lawyers, do speak English; it is just that some of them speak better than others. In general, many of them can handle a basic conversation in English.
(Teaching hospital Oscar Danilo Rosales Arguello, HEODRA had a educational and research collaboration with Duke University of Medicine in Leon, Nicaragua, pictured.)
My wife Jet and I had just left a party in an expat community with mostly retirees when she asked me an obviously rhetorical question.
“Did you notice?”
Of course, the very broadness of the question made it essentially impossible to give her a specific answer, so I gave pretty much the only response possible. “Notice what?”
“How almost everyone we’ve met here seems to be so happy and at ease. They’re all telling us about how they love it here and...
If you were on a quest to find and talk with the single expat who knew more of the inside story, either by witnessing it, or by being part of it, of the evolution of Boquete from a sleepy Panamanian hamlet into the famous expat retirement destination it is today, you could find no one better than Paul McBride. Visit with Paul as he takes Jet from the time when everyone (but one person) thought that Boquete would stay as a Panamanian backwater.
The voting for the Panamanian presidential election will take place on the first Sunday in May. Voting is done on Sunday to ensure maximum voter participation. Presidential elections are held every five years, and presidents cannot succeed themselves. Under this system you don’t have a president-elect campaigning to win the next election instead of governing, so the election season is much shorter than the U.S.