What are the advantages and disadvantages of having a Mexico passport?
SONIA DIAZ - Sonia Diaz
I don’t advise my clients one way or the other to obtain a Mexican passport because it is a personal decision.
Being a permanent resident gives you the almost the same rights as a Mexican citizen except mostly for voting, being involved in the political process and owning property in your name along the coast. Not being involved in politics as a visa holder means rfelated to elections etc. You may still raise issues of civil rights, etc.
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I don’t advise my clients one way or the other to obtain a Mexican passport because it is a personal decision.
Being a permanent resident gives you the almost the same rights as a Mexican citizen except mostly for voting, being involved in the political process and owning property in your name along the coast. Not being involved in politics as a visa holder means rfelated to elections etc. You may still raise issues of civil rights, etc.
If you are a Mexican citizen, you can vote, own property along the coast, be involved in politics, and travel with a Mexican passport. Other than these, there are few additional advantages to having Mexican citizenship as opposed to having a temporary or permanent resident visa.
Getting a Mexican passport is not as complicated as it sounds, but it will takes about 8 months. I have processed citizenship for clients. Most of the process is completed at the SRE office in Queretaro for those living in San Miguel de Allende.
(Pictured: Festival with lit tree in front of parroquia in San Miguel de Allende.)
How does the Foreign Account Tax Compliance Act (FATCA) affect me if I move to Panama?
Tabitha Paddock - Greenback Expat Tax Services
FATCA (Foreign Account Tax Compliance Act) is an anti-money laundering measure that the government put in place to stop terrorists and tax cheats. Although its original aim was not at expats, many have gotten caught in its web. The international banks, and fund managers with US clients, are also being negatively affected.
FATCA basically requires foreign financial institutions to report any of their clients who are US citizens to the IRS. If they fail or refuse to...
FATCA (Foreign Account Tax Compliance Act) is an anti-money laundering measure that the government put in place to stop terrorists and tax cheats. Although its original aim was not at expats, many have gotten caught in its web. The international banks, and fund managers with US clients, are also being negatively affected.
FATCA basically requires foreign financial institutions to report any of their clients who are US citizens to the IRS. If they fail or refuse to do so, they will be counted as “non-participating” and liable for a 30% withholding tax on all American assets. Unfortunately, as the American equity and bond market is the largest in the world, they feel obligated to register.
The IRS has this in place to ensure all financial and bank accounts are reported to both the IRS (Form 8938) and the US Department of the Treasury (Form TD F 90-22.1, or the FBAR). Do not be surprised if you find financial institutions or meet fund managers who are not interested in American clients; penalties for delinquency are put on the fund manager, meaning it could be quite expensive for them to accept you as a client if the necessary reports are not filed, and the reporting can be extensive and expensive.
What are the best places in the world to retire? That would depend on a number of factors... For most people who spent their lives fighting endless winters and grew tired of scraping their windshields with an ice pick, the answer is deceptively simple: "A beach, and plenty of sunshine!" Libya has terrific beaches, and Somalia enjoys sunshine all year round, for example, and although you might be tempted to explore those and many other exotic countries, you wouldn't necessarily...
What are the best places in the world to retire? That would depend on a number of factors... For most people who spent their lives fighting endless winters and grew tired of scraping their windshields with an ice pick, the answer is deceptively simple: "A beach, and plenty of sunshine!" Libya has terrific beaches, and Somalia enjoys sunshine all year round, for example, and although you might be tempted to explore those and many other exotic countries, you wouldn't necessarily consider retiring there.
If you're coming from the United States or Canada, you still have five continents to choose from, barring Antarctica presumably. Australia offers a solid language advantage, but down under is a bit far away, especially if you plan to stay in touch with your relatives at home. In Asia, unless you are of Asian descent, as well as in Africa - even if you are of African descent - you would not blend in easily, because the mentalities are very different (I love Africa, where I spent my teenage years). Europe is a nice place to visit, but notoriously expensive (which is what Europeans say about New York City, invariably adding that they would not live there). That leaves South America. Taking into consideration the northward migratory tendency of México, which must hint at something, and the distance factor of countries like Argentina or Chile, which endure chilly winters (think penguins), or beautiful countries in constant political turmoil, such as Venezuela, we are left with Central America and the Caribbean. The 700 or so islands that constitute the Caribbean are very attractive, but they are not in the same league as Central America in terms of size and infrastructure. Vacationing in a picturesque location is not the same as starting a new life in a new country... Therefore, let's focus on the seven countries that make up Central America: El Salvador, Guatemala, Belize, Nicaragua, Honduras, Costa Rica and Panama.
The best places in the world to retire should satisfy a few basic requirements:
Political climate: Nicaragua is headed by former Sandinista revolutionary Daniel Ortega, a stalwart U.S. critic. At the inauguration of his third term (2012), he was hugged by close friend, the late Hugo Chavez (Venezuela) and Mahmoud Ahmadinejad (Iran). Honduras is recuperating from a serious crisis (2009) where basic constitutional rights were suspended. Belize's independence was recognized by Guatemala in 1992, but persistent territorial disputes are still unsettled. Guatemala, where the median age of the population is 20 years, held a democratic election in 2011. El Salvador's current president represents the Farabundo Marti National Liberation Front. In contrast, both Costa Rica and Panama have consistently held transparent democratic elections for many years and maintain no army.
Language: English is the official language in Belize, although Spanish and Creole are prevalent. English is widely spoken in Costa Rica and Panama, where many expats have relocated, but mostly by the educated elites. They are not bilingual countries, but conversational Spanish is not difficult to achieve. Learning a second language will do wonders for maintaining your brain fitness.
Tourism: All of Central America offers beautiful beaches and a varied geology including mountains and rainforests, with access to Indian cultures and plenty of ecotourism opportunities. Guatemala, Honduras and Belize share Mayan archeological treasures. Belize and Panama are sport fishing and diving paradises. The tropical climate is warm, without being overwhelming and you don't necessarily need to pack suits and ties. There are plenty of golf courses in Panama and plaid shorts are optional.
Accessibility and infrastructure: Panama has long been a bridge between the Americas. (It's not that hard to pinpoint it on a map... Try finding Belize!). The Panama Canal, an astounding engineering feat, connects the Atlantic and the Pacific Ocean and is doubling his capacity with the ongoing construction of a third set of locks at a cost of US$ 5.2 billion (don't miss the opportunity to visit the amazing construction site!). While driving in the capital can be challenging at first, the country is equipped with an always expanding and well-maintained highway system. Daily flights connect with the United States or Europe. A direct flight to Miami, FL takes only two and a half hours. A new international airport is under construction in the central provinces (Rio Hato) to better connect the beaches with the rest of the world and will be inaugurated in July 2013. A modern subway system (Metro) is under construction in Panama City. The aging fleet of recycled school buses, the colorful "Diablos Rojos", has been phased out and replaced by brand new air-conditioned Volvo modern buses.
Cost of living: In all of Central America, housing, food and services are generally affordable, including household help and medical services. Heating bills are rarely a concern and air conditioning is mostly reserved to bedroom usage, while many are content with a ceiling fan. Predictably, the cost of living is higher in metropolitan and touristic areas, while smaller towns offer cheaper opportunities and a more relaxed environment.
Safety: Even in former revolutionary hot spots like El Salvador or Nicaragua, the level of safety has generally improved, with the exception of Honduras. Panama however enjoys a distinctive status, since an amendment to the Panama Canal Treaty provides the United States with the right to intervene - including with military power if necessary - should the safety of the Canal be endangered.
Medical facilities: Many expats have elected to reside in the affluent neighborhood of Punta Pacifica (home to Trump Ocean Club) within walking distance of the state-of-the-art Johns Hopkins affiliate Punta Pacifica Hospital, located opposite the elegant Multiplaza Mall (for those Cartier, Hermès, Vuitton, Apple and Tiffany emergencies). That top-of-the-line hospital illustrates the reason why Panama is receiving an influx of "medical tourists": world-class medical care at discounted prices. Doctors and surgeons have received their training in the best U.S. universities and clinics and speak fluent English. Retirees enjoy discounts on medical visits, procedures and prescriptions. Appointments with a specialist are usually granted the very same day!
Cultural life and entertainment: Honduras, Belize and Guatemala offer well-preserved archeological monuments - at least for the time being since a Mayan temple was recently bulldozed in Belize to make gravel for a road construction (progress comes at a price). Panama provides a vibrant nightlife with top rated musical performances and artistic venues of all kinds, not to mention nightclubs, bars and restaurants that can rival those found in Manhattan. The stunning Museum of Biodiversity, designed by renowned architect Frank Gehry, located at the entrance of the Canal, is about to open and will host countless exhibitions.
Stable economy and currency: In most Central American countries, you'll need to get acquainted with the local banknotes (and keep a calculator handy) such as the Lempira (Honduras), the Quetzal (Guatemala), the Cordoba (Nicaragua) and the Colón (Costa Rica). In El Salvador, the U.S. Dollar became legal tender alongside the Salvadoran Colón in 2001. (In spite of this, El Salvador suffers from the lowest level of foreign investment in Central America). Belize's currency is also called Dollar, but it features the portrait of the Queen of England. Panama, on the other hand, has no central bank and does not print currency. Panama's economy has been fully dollarized since its inception more than a century ago and the only banknotes in circulation bear the familiar faces of Washington, Lincoln, Jackson and Franklin. No need for foreign currency exchange tables. Even Panamanian coins have the same weight and denominations as cents, dimes and quarters. Whatever you purchase in Panama, be it a house or a drink, will be priced in U.S. Dollars, which means you won't have to wonder if the Lempira is down or the Quetzal is up. I was recently attending a real estate convention in Vegas and I was commenting on the healthy state of the economy in Panama, where per capita GDP has more than doubled over the past decade with average annual growth rates of 8.5%, when a fellow Realtor started a fascinating discussion about the merits of Costa Rica. When he was about done, I innocently asked if by any chance he was carrying Costa Rican money in his wallet. He was, and gladly passed it around. I then offered to show some Panamanian banknotes and reached to my own wallet, extracting a handful of U.S. Dollars... At that point, we switched to another topic.
Welcome level: As soon as they arrive in Panama, travelers are given a card providing FREE healthcare insurance for 30 days, courtesy of the government. Panama offers the best retirement program in the world, with substantial discounts on most everything: medical expenses, meals, entertainment, lodging, travel, etc. All this is not based on age requirements, only on the condition of receiving a pension, which may qualify you for permanent residence, the celebrated "pensionado" visa. Most importantly, and I can personally vouch for it, Panamanians are genuinely welcoming. They tend to look up to foreigners and are as eager to share their culture as they are to learn about yours. This is just one of the reasons I believe Panama is one the best places in the world to retire.
[Editor’s note: According to a press release August 1, 2014, the Panama Authority of Tourism stated that no charge tourist insurance coverage is no longer being offered.]
Is Nicaragua cheap? This i one of the biggest factors of living in Nicaragua... Perhaps one of the most defining factors, for retired clients we have had, is the unbelievably low cost of living. In a recent trip visiting neighboring Costa Rica I noticed the huge spike in prices, even in the most basic of produce (fruits and vegies), 30%-70% in some cases (sometimes even more). I attribute this to the huge influx of foreign and American investors over long periods of time....
Is Nicaragua cheap? This i one of the biggest factors of living in Nicaragua... Perhaps one of the most defining factors, for retired clients we have had, is the unbelievably low cost of living. In a recent trip visiting neighboring Costa Rica I noticed the huge spike in prices, even in the most basic of produce (fruits and vegies), 30%-70% in some cases (sometimes even more). I attribute this to the huge influx of foreign and American investors over long periods of time. The markets have acclimated to the American wallet and even more expensive in some cases. Nicaragua production of good wholesome produce and growing middle class attribute to the (all than more) accessible prices low costs. For any one visiting Nicaragua the first thing you will notice is how far your dollar can stretch.
Is Algarve safe? What's the crime rate in general in Algarve?
Luis Teixeira da Silva - Algarve Senior Living
The Algarve is very safe.
I grew up in Johannesburg, South Africa, which is probably one of the world’s most dangerous places. I lived in San Pablo in Brazil, which is amongst the crime capitals of the world. I used to do a lot of business in Bogota when the drug cartels were more prevalent, where I used to have a personal code with my driver so that I wasn’t hijacked. I still remember when I lived in Miami that there were places in downtown...
The Algarve is very safe.
I grew up in Johannesburg, South Africa, which is probably one of the world’s most dangerous places. I lived in San Pablo in Brazil, which is amongst the crime capitals of the world. I used to do a lot of business in Bogota when the drug cartels were more prevalent, where I used to have a personal code with my driver so that I wasn’t hijacked. I still remember when I lived in Miami that there were places in downtown Miami that you couldn’t walk at night.
Compared to those places, it’s a complete and utter difference in the Algarve. I believe Portugal is the seventh safest country in the world. The Algarve is known as a place for people who do not wish to be necessarily in the limelight and who would rather be away from the media. Many famous people who could choose any location choose the Algarve because you don’t have the paparazzi running around.
If you walk around the Algarve, you will see the average middle class people who live here, among whom, the crime rate is very low. Historically there has been very, very little violent crime in the Algarve, which continues to be the case. There is no racial or social unrest. Portugal is generally a very homogenous country from a racial, a religious, and other perspectives. Most people are of the Roman Catholic faith. And even people who are not necessarily religious are very, very neutral and not in any way outspoken about their beliefs. What one finds in Portugal is a country that is very tolerant, which contributes in no small measure to the fact that not only is the country safe, but people feel safe. The comment that we often receive from people who are down here is, “I really feel safe. I can walk at night to a restaurant or into town and I don’t feel as though I’m being threatened in any way.” This is very important.
We had a single female client from the US living in London who was staying in one of our locations near Portimao in the Algarve and wanted to go to either a jazz concert or ballet that playing in a very large venue that was located in a bit of an industrial area on the edge of the river. She walked from the place where she was staying across a fairly deserted village to the performance, and then walked back. Later, I dropped her an email to ask her how it went. She wrote back, “Absolutely fantastic! If I had been in London I would have had to take a cab to stay overnight in a hotel and caught a cab to see the show, pay a fortune for the show, come back and have gone back home to my house. Instead, in the Algarve, I saw a top performance, and walked back. I felt completely safe and it cost me probably a tenth of what it would cost in London or New York.” I believe it’s important to live in a place that feels safe as opposed to just citing statistics that say it’s safe. The important thing for most people is to feel safe.
In general, people don’t have burglar bars or big dogs for security in the Algarve. Some of the traditional properties that are out in the countryside need some protection because they closed for months and so to just avoid anyone having the temptation to break in, sometimes people will put worked, ornate iron bars on the windows and the doors. However, in the city and in the suburbs, it’s not that common to see burglar bars. On the contrary, it’s much more common to see big wide sliding doors to make the most of the views and the sunshine.
(In 2009 actress Angelina Jolie had been looking for property in the Algarve, Portugal, pictured.)
Is the electricity reliable in Belize? Are there blackouts or brownouts in Belize?
Mark Leonard
Belize has electrical blackouts for a variety of reasons. Recently, at least in the Corozal area, they are localized due to infrastructure improvements underway. Mexico supplies about 60% of the power coming into Belize, so sometimes at peak times they do cut things off. Belize is now working on their regulations to allow more suppliers and methodologies to enter into the picture.
Cerros Sands, for example, where we are...
Belize has electrical blackouts for a variety of reasons. Recently, at least in the Corozal area, they are localized due to infrastructure improvements underway. Mexico supplies about 60% of the power coming into Belize, so sometimes at peak times they do cut things off. Belize is now working on their regulations to allow more suppliers and methodologies to enter into the picture.
Cerros Sands, for example, where we are working, is off the grid, so we don’t have blackouts, and its no issue for us.
If you are on the grid, there are some months when you don’t lose power at all. But there are days when you may not have power from 7 AM to 7 PM while they are working in your neighborhood.
The larger scale blackouts where something major goes down from Mexico to Belize or something in Belize to Belize is rare. Years back, Ambergris Caye was without power for days at a time, but that is no longer the case.
On a typical month, a blackout happens maybe once for a couple of hours.
(Pictured: off the grid home being built at Cerros Sands, Corozol, Belize.)
The sun is barely peeking over the horizon as I grab a cup of coffee and step into my yard. There are a few clouds and as the sun catches them they light up and create a spectacular sunrise to start the day. As I sip my coffee, I enjoy a multitude of vibrant and colorful flowers and lush foliage.
The air is sweet and clean (not much pollution here). I love the fragrance from the flowers and some...
My name is Giselle and I have been a runaway for 12 years.
Well...at least according to some of my stateside friends.
It all started innocently enough (as most adventures are want to do): My husband and I had begun to contemplate our retirement options. We were living in Florida at the time. He was a doctor and I was a Real Estate Agent. We talked up a storm about places we would like to see and destinations that would be good fun to wake up in. Of...
My name is Lissy and I want to share with you my trip to Boquete today. I went to Big Daddy’s Grill and had the best shrimp taco ever, and the day was nice; we have a great coffee!!! Ufff the margarita is the besttttt.
Today was very quiet for a Friday night, a little rain but nothing to worry about; I just remember why people love Boquete so much!!! Peaceful place with the nature...
I don’t advise my clients one way or the other to obtain a Mexican passport because it is a personal decision. 
The Algarve is very safe. 
Belize has electrical blackouts for a variety of reasons. Recently, at least in the Corozal area, they are localized due to infrastructure improvements underway. Mexico supplies about 60% of the power coming into Belize, so sometimes at peak times they do cut things off. Belize is now working on their regulations to allow more suppliers and methodologies to enter into the picture. 
The sun is barely peeking over the horizon as I grab a cup of coffee and step into my yard. There are a few clouds and as the sun catches them they light up and create a spectacular sunrise to start the day. As I sip my coffee, I enjoy a multitude of vibrant and colorful flowers and lush foliage. .jpg)
