Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Retiring Overseas and other Retirement topics.
If you retire overseas, you need not become a citizen or even get a permanent visa. A number of retirees live abroad as perpetual tourists, renewing tourist visas and stepping out of the country for as much as five minutes when those visas expire. However, most a more secure immigration status. Certain countries offer retirees substantial incentives. Belize, for instance, offers any American citizens over the age of 45 years who retire in Belize and who can demonstrate a monthly pension of more than $1,000 residency and tax-free importation of the retiree's household goods, car, boat, and airplane. Retire in Mexico and they will offer a similar deal, without regard to age, halving the monthly income requirement for those who own their own homes.