The major benefits of the program come in the form of tax incentives.
As a foreign retiree, you're entitled to:
- Pay no taxes on any out-of-country earnings
- Residency for five years, with the ability to renew
- Bring into Nicaragua up to US$20,000 worth of household goods for your own home, duty free
- Pay no sales tax on purchase of $50,000 worth of products used to build your business
- Import one automobile (value $25,000 or less) for personal or general use and pay no import
tax or protective tariff and sell it after five years, again exempt from consumer sales tax
- Import an additional vehicle every five years under the same duty exemptions.
A foreign retiree "cannot work in any industrial or commercial activity or hold a job paid in local
currency". But the Nicaraguan consulate in the United States assures us that the law is open to
liberal interpretation. If you want to open a small hotel or restaurant, for example, an enterprise
that would benefit the community in some way, say by attracting tourists or creating jobs, then
you'd merely have to present your plan to the Ministry of Economy and Industry and ask for an
exception to the rule.
At the time of writing (April 2015?), the fees for the temporary residence card (valid for 1 year)
are C$2,000 ($65) and for a permanent residence card (valid for 5 years) C$5,000 ($160).
You'll also have costs for the certification and translation of documents. And since the application
process typically lasts several months, be prepared to purchase extensions for your tourist visa for
C$500 per 30 days, the so-called "prorroga".
If you enlist the help of a lawyer, expect to pay anything between US$300 and US$800 per person
for his or her services.
Once you are a Nicaraguan resident, you must get the government's permission to leave the country,
the so-called "visa de salida." Depending on how often you want to travel, you have the choice
between purchasing a one-time exit visa C$200 ($6), or one that is valid for 3 months C$400 ($11), 6 months
C$800 ($23) or one year C$1600 ($46).
if you are in Portugal for 183 or more days in a single calendar year, you will typically be classed as a Portuguese tax resident.
If you are classed as a tax resident, your worldwide income is subject to Portuguese income tax. This income could include salary, rental income and capital gains.
Portugal has various tax treaties with other countries, including a tax treaty with the UK, which ensures that you should not have to pay tax more than once on any income in multiple jurisdictions.
United States and Portugal have an income tax treaty in place. The main purpose of a tax treaty is to ensure proper tax treatment of monies earned by US citizens, Portuguese citizens, ex-pats and residents of each other's country.
Spain is famous for its bureaucracy, which can be particularly frustrating when it comes to understanding your tax obligations. Spain's tax system is complex, subject to change and differs from one autonomous region to another.
The general rule is that you're considered a tax resident if you spend more than 183 days in Spain during the calendar year. You may also qualify as a tax resident if your main professional activity is based in Spain or if your spouse or dependent children are living in Spain.
Income tax is progressive, and the rates for national and local income tax are usually between 19% and 48%. The sales tax is a 21% tax on consumer goods that is usually included in the price indicated on price stickers.
Spain also has a wealth tax that is imposed annually and based on the total net worth of your worldwide assets and income. The rate is .2% to 2.5%, depending on the region where you're living. Each tax resident is allowed assets of 700,000 euros and a personal residence worth 300,000 euros. However, no wealth tax is imposed by the Madrid autonomous region.
- Foreign-source income is not taxable in Malaysia.
- Can work part-time (20 hr/week).
- Import personal / household items, tax exempted
- Invest in local companies, share market & unit trusts
- Interest gained from bank fixed deposit is tax exempted
- Each participant is allowed to bring in a personal car. The vat (GST) tax exemption
when buying a new car in Malaysia ended Apr 1, 2015.
- Each participant is permitted to purchase residential houses at a minimum price above
MYR 1,000,000 ($259,000) each such as Kuala Lumpur and Penang that are pre-approved by
the Foreign Investment Committee of Malaysia.
MYR 500,000 ($129,000)?
- 10 years + renew for life
- No minimum stay in Malaysia - come & go as you please
- Tropical Temperature Year Round 75 - 90° F /
Hill Resorts 54 - 68° F
- Quality Low Living Cost - From $15-25/day ($300-750/mo)
- One mo 2 BR Service Apartment from $700/mo
Yr long 3 BR Condominium from $600/mo
- Good Modern Infrastructure - Roads / Air Links / 1st Class Medical Facilities
- Show that they have sufficient funds to maintain themselves for the duration of the 10-year visa.
In practice, this means showing at least MYR150,000
($38,000) in the bank
($2,550) monthly income.
After a period of one year, the participant who fulfills the fixed deposit criteria can withdraw
up to MYR50,000.00 ($13,000) for approved expenses relating to house purchase, education for
children in Malaysia and medical purposes. However, a minimum balance of MYR100,000.00
from the second year onwards and throughout stay in Malaysia under this program.
- All applicants and their dependents (spouse and children) are required to submit a medical report
from any private hospital in Malaysia.
- Medical insurance
Tax Basis - Vietnamese residents are taxed on their worldwide income; nonresidents are taxed only
on Vietnamese-source income.
Residence - An individual is resident if he/she: (1) spends 183 days or more in the aggregate in a 12-month period in Vietnam starting from the date the individual arrives in Vietnam; (2) maintains a residence in Vietnam; or (3) has leased a residence for 90 days or more in a tax year.
The retirement visa
lasts for a year and you can
renew it without leaving the country.
To qualify, you should have at least $26,000 in your bank account, or
deposits + annual income > $26,000.
You need to report to the immigration police
every 90 days
while staying in Thailand. You should also note that you need to apply for a re-entry permit
if you want to leave Thailand and return before your retirement visa expires.
Best option is to apply for the Non Immigrant O-A visa before they make their way to Thailand.
This visa is has multiple entry and is valid for 1 year. Each entry they would get 1 of
Admitted to Stay, so they can get almost 2 years of stay out of this visa. For travelling during
the second year they need a re-entry permit.