Best Places In The World To Retire

 

The form must be filed if the combined highest balances in your foreign financial accounts at any time during the calendar year exceed $10,000 US or more.  Foreign financial accounts include banks, foreign stock brokers, foreign pension plans, foreign gold storage places, etc.

 

You must also report all income earned on these accounts on your Form 1040 and fill out the proper information on Schedule B stating that you are required to file an FBAR form.

In order to obtain the Non-Habitual Resident (“NHR”) Status, firstly it will be necessary to be considered as tax resident in Portugal in the same year that the Portuguese Tax Authorities accept the request to be a Non Habitual Resident.

 

Thereby, in general terms, to be considered as tax resident in Portugal, it is necessary to fulfill one of the following requirements:

 

i) Has remained there more than 183 days,...

In order to obtain the Non-Habitual Resident (“NHR”) Status, firstly it will be necessary to be considered as tax resident in Portugal in the same year that the Portuguese Tax Authorities accept the request to be a Non Habitual Resident.

 

Thereby, in general terms, to be considered as tax resident in Portugal, it is necessary to fulfill one of the following requirements:

 

i) Has remained there more than 183 days, consecutive or otherwise;

 

ii) Has stayed for less time, but has available there, on that year, accommodation in conditions that indicate an intention to keep and occupy it as an habitual residence;

 

iii) Is a crew member of vessels or aircraft, provided that in the service of entities with residence, head office or (place of) effective management in that territory;

 

iv) Exercises functions or commissions of public character under the Portuguese State, abroad;

 

v) Performs abroad an office or commission of a public nature, in the service of the Portuguese State.

 

After the requirements are fulfilled, the recognition of this status is not automatic.  Rather, it is still necessary to request the Registration in the Taxpayer Registry of the Portuguese Tax Authorities as a Non-Habitual Resident.

 

This registration as a Non-Habitual Resident must be made at the moment of the registration as Portuguese tax resident or subsequently until March 31st, of the year after taking up residency in Portugal.

 

(Cafe off the plaza in Montijo, Portugal, pictured.)

You can absolutely buy beautiful furniture in Belize. You can buy hardwood furniture, hand crafted furniture here. The Mennonite community(pictured) is very prominent in furniture building and you can buy really stunning pieces here locally, made of local hardwoods. The local hardwoods are just perfect for this kind of environment, which is high salt air, high humidity, etc. It is also perfect for the environment because they are made from local materials.
 
You have to...

You can absolutely buy beautiful furniture in Belize. You can buy hardwood furniture, hand crafted furniture here. The Mennonite community(pictured) is very prominent in furniture building and you can buy really stunning pieces here locally, made of local hardwoods. The local hardwoods are just perfect for this kind of environment, which is high salt air, high humidity, etc. It is also perfect for the environment because they are made from local materials.
 
You have to be careful with the furniture you bring in from your home country if you are moving to Belize, unless your furniture is made of stainless steel. If you have furniture made from stainless steel, you are safe from the salty environment, but if you have things made from aluminum you are going to have high rust issues. Aluminum will deteriorate a lot faster in high salty environment and high humidity. The environment is pretty tough on electronics in general. Many people do not get years out of a laptop because of the power surges and high salt content in the air. In Belize you really need to have really good surge protectors for your electronics.
 
I’m writing this in Nicaragua right now, where the humidity is so much less than in Belize. That is because Belize has that shallow basin of water and the intense sun makes evaporation so much quicker. The shallow plus the intensity equals high salt content in the air. It is not nearly the same here. I am on the Pacific coast on the west side of Nicaragua, where I actually feel cool in the air compared to Belize where you never feel cool crisp in the air. In Belize it is hot wet. 

A full time, live in maid in Nicaragua costs between $100 and $150 per month.

 

Some expat homeowners choose to allow their maids to live at their home. Live in help usually have a small apartment next to the kitchen / laundry area with a dresser, bed, and a small TV.

 

The rate for daily service is about $1/hour, depending on location, which affects market demand.

 

For full time...

A full time, live in maid in Nicaragua costs between $100 and $150 per month.

 

Some expat homeowners choose to allow their maids to live at their home. Live in help usually have a small apartment next to the kitchen / laundry area with a dresser, bed, and a small TV.

 

The rate for daily service is about $1/hour, depending on location, which affects market demand.

 

For full time service, the government requires INSS, the local social security. A withholding of 6.25% from the employee, plus 16.25% from the employer provides the employee a pension plus medical benefits. For an employee working 7 hours / day the total cost with all benefits is about $10 / day.