Many countries offer visas for US retirees that give them tax breaks. Some even offer discounts on services and entertainment
If you dream of retiring to a heavenly place where your retirement payment will reach you well, you should know that there are many countries that offer special visas for retirees from the United States.
Below, we share three of them.
Aside from being famous for its channel, the Spanish-speaking country is known for having one of the fastest growing economies in Latin America.
You will need to obtain an immigration lawyer in Panama to submit your visa application and a health certificate issued by a doctor in the country. Other requirements include an income of at least $1,000 per month, an FBI background check, a certified birth certificate, and a valid passport.
This program, known as Panama Pensionado, comes with all kinds of discounts on services and entertainment, as well as an exemption from the import tax on household items and new cars.
This English-speaking country located on the Caribbean coast of Central America is home to Mayan ruins, wild jungle and the second largest barrier reef in the world.
Its Qualified Retirement Program is open to people age 45 and older with an income of at least $2,000 per month. The program requires you to spend at least 30 consecutive days a year in Belize, but you are free to roam Central America the rest of the year.
The program comes with some benefits, including exemptions from income, capital gains and inheritance taxes; as well as tax exemptions for the importation of personal property, cars, boats and aircraft; and the ability to buy land or a house.
The Philippines is an Asian island nation that welcomes retirees from the United States. English is one of the two official languages spoken here.
To apply for the Special Resident Retiree’s Visa, you must be at least 50 years old and receive medical and police clearance. There are different ways to qualify. For the two most common, you must deposit at least $20,000 dollars in a bank in this country or deposit $10,000 with proof of sufficient monthly pension income to support yourself.
The visa grants benefits that include a one-time import tax exemption on personal effects worth up to $7,000, a number of discounts and health benefits.
Melissa Galbraith is the World News reporter for Globe Live Media. She covers all the major events happening around the World. From Europe to Americas, from Asia to Antarctica, Melissa covers it all. Never miss another Major World Event by bookmarking her author page right here.