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Latinamerica Title Company (LATCO) kicked off their business opening in Panama at a great event on May 27, 2009, at the Sheraton Hotel and Convention Center in Panama City. LATCO provides buyers of real estate the assurance of clear title (title insurance), security of third party funds/escrow services in land transactions and trust services. They also provide legal services under a program called LATCO Attorney Aliance Group. LATCO works with Chicago Title in providing title insurance and providing buyers of real estate a guarantee that their title is clear.
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It has been a long time since we have “spoken” to one another. The markets have been changing and I have been busy on several different projects, securing affiliates and improving our process in Costa Rica to ensure that our clients receive the best real estate offerings, the best service and the best experience when purchasing real estate in Costa Rica. In this newsletter I’m going to outline several key projects, changes and highlights for you and provide a bit more detail as to what we have been working on since the last newsletter you received from me. Moving forward you will receive a monthly newsletter from Sol Property Group. Enjoy! 1) You may have noticed that there is a new logo and company name on this newsletter from previous ones. Sol Property Group, SRL, (SPG) is a company that I started with the help of several other key personnel. (sol = sun in Spanish) SPG is committed to providing clients who wish to purchase in Central America and the Caribbean the best in customer service – from travel planning to post-purchase follow up. Click here to learn more “About Us” Sol Property Group is a Costa Rican based real estate company with partnerships throughout Central America and the Caribbean. We provide our customers with the highest level of service and make the purchase process – from trip planning, property selection, the closing and post-purchase property management - simple and easy. We only work with the most well-established firms and conducted numerous interviews to ensure our partnerships offer the same high level of quality service. In today’s market many clients are not only looking at several types of property within a country – they are also looking at property in several countries. Sol Property Group alleviates the problem of having to try and find a reputable broker/agent in each country. Our network of real estate professionals will be available to you at almost all times of the day and with any budget. One of the highlighted properties we have has lots starting $19,900 with financing available. We have made it easy to contact us with an online chat feature on all of our pages and the ability to call us on Skype. Also, we can call you back on Skype or any other number you wish. You may notice on our website that we only list around a dozen properties per country. This is intentional. We have 100’s of other listings available. However, our experience has taught us that many clients are not sure exactly what they want when they start their search. We know it can be overwhelming to choose from thousands of properties with scant information and an agent’s opinion. We make the process easier by starting off with a small questionnaire that we can ask over the phone or e-mail to you. During this 5 – 10 minute interview we will ask you some of the following questions:
a) What type of property you are interested in (condos, farms, houses, etc)?
b) What is more important – the type of property (beachfront) or the country where you want to own?
c) What are the most important decision factors for you? (temperature? Proximity to the ocean? Proximity to a large city? Certain amenities?)
d) What is your budget?
e) When do you plan on purchasing? With these simple questions we can begin the process of finding the perfect piece of property for you. We will provide you with up to five property options based on your criteria. From there it all depends on your travel plans (we will assist you with that). We have gone through the purchasing process ourselves and understand that at times our clients will have many questions. We patiently answer all questions and understand the importance of this decision for you and your family. We look forward to helping you find your piece of paradise. We have several travel agents on staff to ensure that your trip is hassle free. We can line up bi-lingual tour guides, airfare, hotel, rental cars (save 10% through National here), etc. Additionally, we routinely survey our clients after the trip to ask about their stay. What they liked and what they would recommend changing. We are constantly improving the travel and property visit experience. 2) The Village in San Buenas - Lots starting at $19,900 (click for more information)
There has been tremendous progress made to all phases of one of the largest projects in Costa Rica. Please contact us to see the progress of the first golf course in the Southern Pacific zone of Costa Rica. We have lots starting at $19,900 with financing. 3) What’s going on in the Southern Zone?
I am still focused exclusively on Costa Rica. In calendar year 2008 I made eight trips to Costa Rica. So far in 2009, I’ve already made four trips to Costa Rica. I will be back down in Costa Rica in July and again in August. Many of you have not been down to the Southern zone of Costa Rica in over a year. I wanted to show you the great progress taking place. Click here for some of the biggest changes from 2007 and 2008/2009. We are compiling 100's of photos taken over the past year to put in an easy to view format - we will update you on this in subsequent newsletters.
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Moving overseas offers a wealth of positive new experiences and challenges. However, it can also be an extremely stressful time, especially in the first few months while you’re trying to find your feet in your new home abroad - but never forget, it is also an extremely rewarding experience. After all, you’ll be discovering new life experiences, meeting new people and seeing how the day-to-day routine operates in other cultures. But at times, living overseas can be very daunting and you might need to hear a bit of reassurance from home. Whatever the reasons, keeping in touch with home can be more important and comforting than you currently realise, so let us take a look at the best and most used communication options for expats.
Do you remember the old BT commercial when the neighbour was “calling Sydney”, “Sydney who?”, “Sydney Australia!” – well, using your landline to call home is one option, though an expensive one in our opinion! Landline calls can be made from pretty much anywhere to anywhere, but per minute costs can be prohibitive and certainly will limit the amount of contact with your family. One way around this is to buy international phone cards, these cards normally work on the premise that the company provides a local number or free number to call and then they redirect your call overseas. Simple to use, the cards can be bought over the Internet or from local shops. They are one alternative in the arsenal of expat communication options. There are a number of VOIP (Voice Over Internet Protocol) or Internet based telephone systems also available that offer cheap or free calls. Perhaps the most popular communication option for expats living overseas is Skype. The Skype system is free to download onto your computer, and if your family and friends back home do the same, Skype to Skype calls are free. Skype calls offer the advantage of being able to video call your folks back home so they can all see just how tanned and relaxed you are looking, and you can see how cold and dull it is back there – reminding you that living overseas does have some advantages even on days when you’re feeling overwhelmed! You can also buy credit through Skype to call normal telephones and mobile phones at cheap rates. The Vonage system is also a good communication tool for expats. With this system you use your existing telephone with a Vonage converter that places the calls over the Internet. The system works with monthly billing and offers calls at reduced rates. Other communication options for expats living overseas are websites such as Facebook - or you can even try setting up your own blog or family website. These forms of contact allow you to do things like post photos of you and your family enjoying your new life abroad, and you can get your family back home to post photos of them in the rain! And don’t forget the good old email. The new form of almost snail mail when compared to VOIP calls and instant messaging, it still allows you to send and receive news to and from home. Providers such as MSN, Google and Yahoo offer communication services for expats and also have chat options to allow you to keep in touch in real time. Instant messaging is the term used to describe services like Google chat, Yahoo chat and MSN messenger. They are basically real time, text based chats between 2 or more people. Usually they have features such as webcam so you can see who you’re talking to, and these services also allow you to transfer files. Failing that, if Granny really is stuck in the Hebrides without an Internet connection, telephone line or Morse code receiver…. you could always write to her in the traditional way…a letter will get there eventually!
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The exchange rate between the US dollar the Costa Rican colon reached an all time high yesterday, the Banco Central de Costa Rica (BCCR) setting the sell at ¢567.94 and the buy at ¢558.18. The exchange rate a little over two weeks ago, on January 31, was ¢558.18 for the buy and ¢555.51 for the sell.
Yesterday afternoon the state and private banks were trading in the currency at between ¢567 and ¢569 for the sell and ¢557 and ¢562 for the buy.
Although the president of the Central Bank, Francisco de Paula Gutiérrez, says that the bank does not forecast the trading of the dollar, economists feel that the dollar will continue to rise in the exchange of the colon.
One economist, Roxana Morales, of the Universidad Nacional (UNA) says that the trend will continue, due to a decrease in exports and a decrease of tourists visiting Costa Rica.
However, no one will predict how high it will get or if the Central Bank will, as it has in the past, intervene.
One year ago, February 17, 2008, the Central Bank sell was ¢493.45 and the buy ¢499.12. A decade ago - February 17, 1999 - the BCCR the exchange rate was ¢275.52 for the sell and ¢274.95 for the buy.
For a complete list of the history of the exchange rate set by the BCCR go to:
http://indicadoreseconomicos.bccr.fi.cr/IndicadoresEconomicos/Cuadros/frmVerCatCuadro.aspx?CodCuadro=400&Idioma=1&FecInicial=2008/01/01&FecFinal=2009/02/17&Filtro=0 By: Inside Costa Rica (Original here)
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Costa Rican telco ICE has signed a contract worth US$ 16.2mn with Teledata Networks under which the latter will provide its BroadAccess-1000E Multiservice Access Gateways, supporting the telco's plans to deliver triple-play services in Costa Rica.
The project is intended to enable ICE to transform its current network to an IP-based next-generation network (NGN) architecture, and hundreds of BroadAccess-1000E systems are to be deployed across Costa Rica, installed within a fibre-to-the-remote (FTTR) architecture within hardened street cabinets.
"We are proud to be selected by ICE for this important project and to take part in their progress towards a new era of NGN," said Mauricio Tepper, Associate Vice-President of Sales at Teledata Networks.
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(InfoWebPress) – For the first time, the Natural Resource Defense Council (NRDC) has designated a country as a BioGem, Costa Rica, as a recognition of its efforts to become the world’s first carbon-neutral nation.
"These BioGems are some of the last wild and unspoiled places left in the Western Hemisphere,” said Robert Kennedy, Jr., senior attorney at NRDC. “By naming these places as BioGems, NRDC is empowering hundreds of thousands of concerned individuals to take effective action to save these natural treasures for generations to come."
Since 2001, NRDC has campaigned to save more than 30 special natural places that offer sanctuary for endangered wildlife, curb global warming and provide livelihoods for local communities. NRDC redesigned its “Save BioGems” Web site with new features in order to more effectively mobilize online activists to protect these areas.
In Costa Rica, NRDC is working with the Energy and Environment Ministry to identify measures to help the country meet its commitment of becoming the world's first carbon-neutral nation by 2021.
Additionally, NRDC also just signed an agreement with the Costa Rican Electricity Institute (ICE) on energy efficiency and renewable energy projects. In partnership with one of Latin America’s leading ecological facilities — the Tropical Agricultural Research and Higher Education Center (CATIE), located in Costa Rica — NRDC has launched a rainforest rejuvenation project to plant 30,000 trees to restore a natural rainforest. These actions will help Costa Rica reaffirm its position as a global environmental leader and reduce pressure on its biodiversity and other natural areas.
In addition to Costa Rica, other BioGems added to the list include the Carrizo Plain National Monument in central California and the Peace-Athabasca Delta in Alberta, Canada, which are in danger because of oil and gas exploration.
“We have a new opportunity under the Obama administration to protect and save a number of our BioGems,” said Jacob Scherr, co-director of NRDC’s BioGems Initiative. “Places like the Tongass National Forest, Utah’s Redrock Wilderness, and wildlife like the polar bear remain in danger after eight years of reckless policies.”
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The dour economy is not stopping U.S. brides and grooms from saying "I do" on Caribbean sand. Many hoteliers expect to handle about the same number of destination weddings this year as 2008, despite a drop in overall bookings. A 2006 survey estimated that 16% of U.S. unions took place in a destination setting, which combines the ceremony with the honeymoon. "This is a recession-proof market," says Donald Foste, group sales director for Occidental, a hotel chain with properties in Aruba and the Dominican Republic. "Brides are going to get married regardless of what's happening in the economy." At SuperClubs, executives hope weddings will help offset the dip in overall bookings, says marketing director Zein Nakash. The Jamaica-based company operates about a dozen all-inclusive resorts under the Grand Lido, Breezes and Hedonism names in the Dominican Republic, Jamaica, Curaçao and the Bahamas. Many people will look at all-inclusives such as SuperClubs because "you know exactly what your wedding is going to cost you," she says. The Caribbean's destination wedding industry hopes to thrive on budget-minded lovebirds such as Tilly Lashel Gant and Terrance Flaggs of St. Louis. For $3,600 at Riu Ochos Rios, Jamaica, the couple is receiving airfare and lodging for two, an upgraded honeymoon suite, food and drinks, and the wedding ceremony. Picking the off-season date of April 29 helped them lower their rate. "You can't beat that," says Gant, 31. "It is so much cheaper than having a traditional wedding at home, where the cost can skyrocket." The destination wedding market is so promising that some Caribbean hotels are trying to boost their share. SuperClubs is taking out TV ads. It's also attending more bridal shows. And at the Wyndham hotel and casino on Nassau's Cable Beach in the Bahamas, manager Jeffry Humes had the hotel renovated specifically to please brides, with a new boardwalk and gazebo with ocean views for wedding photos. The hotel has 200 weddings planned this year, double last year's count. The hotel also hopes to lure more cruise ship passengers who disembark in Nassau with a desire to exchange vows on a beach, says Lisa Harris, who handles wedding sales. The hotel plans to charge couples $300 to use the gazebo. Still, the economy is having an effect: • Smaller wedding parties. Because wedding guests typically pay their own airfare and lodging, hoteliers expect to see fewer people attend. SuperClubs expects a 25% decline in guest numbers, Nakash says. Because of the economy, Gant and Flaggs expect few people to join them in Ocho Rios. She says her mother can't afford to join them, and their bridesmaid and best man have yet to book their trip. They're prepared to do without a bridal party. • Fewer extras. At upscale Paradisus in the Dominican Republic, which handles nearly 400 weddings a year, couples typically spent about $40,000 last year. But this year, Paradisus executive Maria Gomez expects they'll stop at $30,000, with fewer flowers and extra events such as welcome parties, bridesmaid lunches and spa treatments. • More price quotes. Brides who are being more frugal are taking more time to book weddings, Foste says. Brides used to book their wedding at an Occidental hotel within three weeks of requesting information, but now they're taking up to six weeks so they can shop more, he says. Melvin Grant, a Bahamian minister, says he's marrying more people on free public beaches. Couples are also calling him directly to lower the price. "Two years ago, they didn't care," he says. "But since last year, they've been cutting corners." BY BARBARA DE LOLLIS • USA TODAY • February 8, 2009 (Original Here)
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Why should you be obliged to pay more tax each month to bail out banking fat cats when you can live abroad in legitimate countries 100% tax-free? As entrepreneur James Caan pointed out to Piers Morgan in a recent interview where they were discussing why the rich should be allowed to effectively avoid tax by living in havens such as Monaco, ‘there has to be some reward for all that hard work,’ – and increasingly, greater numbers of Britons feel the same. (Forgive me Mr. Caan for paraphrasing you please.) Instead of being jealous of those who have achieved the lofty heights of extreme success and wishing them ill for escaping tax by moving abroad, Brits are banding together against a government that’s throwing them all into deeper debt and despair by bailing out banks and even potentially the car industry, (what car industry?), and leaving them with the legacy of a lifetime of public debt. Well, if you’re thinking the bail out bill is unfair because of the tax burden in places upon us and our children and grandchildren, this article will show you how you can beat it by using legal tax havens. After all, if it’s good enough for Britain’s million and billionaires, it’s good enough for the rest of us too. We are all free to leave, and the sooner the government realises that they are pushing increasing numbers of us to actively look at ways of escape, perhaps the sooner they’ll put the breaks on their destructive plans?
When we talk about ‘legal tax havens’ we’re talking about the nations in the world that choose to set their own rates of tax…places such as Cyprus, Panama or Belize, or places where there are government backed incentive programmes in place to actively encourage overseas citizens to relocate there such as Malaysia. We are not talking about corrupt nations or places like Monaco where property costs upwards of £40,000 a square meter, or even ever secretive Lichtenstein where you’d be the only expat trying to forge an honest days living! But as soon as you mention the term ‘tax haven’ you’re deluged with a swarm of negative publicity as people assume you’re advocating the illegal evasion of taxation (See George Monbiot’s misinformed representation of us in the Guardian). Please be assured, dear reader, that what we’re going to show you in this article is how certain countries in the world make it very appealing and enticing for you to go and live there legally tax-free or on a reduced rate of tax. What’s in it for them?They do so because their economy benefits from having you live there in other ways – you buy cars and houses, you shop for all your groceries there, perhaps you even employ a local person as a cleaner or a nanny or even an accountant. You don’t take jobs there but you do remit your internationally sourced income to the nation because you can do so tax free and just enjoy spending it. Other nations have used similar incentives for attracting businesses and inward foreign direct investment in other ways – the Celtic Tiger economy that Ireland built and benefitted from massively was created by offering attractive tax packages to businesses for example. Oh, and Great Britain had its own incentives for attracting high net worth non doms (or expats) to live and work in the UK in recent years. Okay, so the current government has eroded many of these benefits – but the UK still has its very own offshore tax centres to attract international investment. And finally, don’t forget that the good old US of A with Obama at the helm still has the tax advantageous state of Delaware within its fold that helps boost Americas coffers! So, before you believe those who aggressively berate anyone for considering their taxation reduction options – we would just like to point out that practically every nation in the world is free to set its own taxes, and that many have interesting loopholes and incentives for attracting inward foreign direct investment. It’s just that some are more open and honest about what they do – these nations include the following: - CyprusIf you’re looking for a place to retire abroad where your income will not be eroded by high rates of taxation, Cyprus could well suit your needs. It has a maximum taxation rate of 5% on pension income. As Cyprus is a fully paid up member of the European Union, you can hardly call it a dodgy offshore tax haven! It is a nation that welcomes international retirees who all move there, buy property, support an economy otherwise heavily reliant on tourism and whom it only taxes at 5%. I think it’s what you call a ‘win win situation!!’ MalaysiaMalaysia has a government backed incentive programme to attract qualifying international citizens to stay in Malaysia on a multiple entry visa for as long as they like. Qualifying individuals have to fulfil the following criteria: - “Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.” In other words, if you have the funds to allow you to do so, you can move to Malaysia under the terms of their ‘Malaysia My Second Home’ programme and the benefits you gain include being allowed to remit your internationally sourced income free of tax. You can also own property in the country, import your personal belongings tax-free, and generally enjoy the delights of this stunning and vibrant country. BelizeBelize has a retired persons’ incentive programme in place that means that anyone from the likes of the UK, U.S.A., Canada, Europe or other Commonwealth countries who is over the age of 45 can move there and enjoy any income they earn or receive from outside the country 100% tax free. They can also import a car or a boat tax free, buy a property and just generally enjoy chilling out in this former British colony where the sun shines almost every day! PanamaIf you’re a qualifying pensionado, (retiree), then Panama wants you too! It will give you discounts on everything from plane flights to prescriptions, from doctor’s visits to money off your utility bills…and what’s more, your internationally sourced income is also 100% tax-free in Panama. So you see, there are plenty of diverse and wonderful places in the world where you can escape the bail out bill in the UK, and live well in comfortable surroundings whilst legitimately paying no tax at all. Morally Obliged to Bail Out Britain?And finally – we would just like to add one more comment to this article. Why are we, as British taxpayers, obligated to bail out the government and the banks through our taxation payments? Why are we obliged to bail them out of the situation that they themselves created? As individuals our responsibilities lie with our families and ourselves, with keeping a roof over our heads, food on the table and our children at school, educated and well brought up. Whilst we reside in the UK we are obligated to pay UK taxes, we have no way of controlling where that tax revenue is spent – whether it’s used to buy arms for someone else’s war or to give a banking fat cat a whopping bonus. We also have no way of restricting the amount of tax we are required to pay – and let’s face it, we all know tax rates are going to have to rise and rise and rise to pay for the mess that the UK has been pushed into. But we are allowed to move abroad, we are allowed to vote with our feet, we are – thankfully – allowed to go in pursuit of a better, fairer life elsewhere. We are in no way obliged to remain and bail out Britain. By: Shelter Offshore (Original Here)
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Costa Rica's highly diverse wildlife and ecosystems have another global green crusader on their side after the Natural Resources Defense Council (NRDC) on Tuesday named this country one of 13 new natural “BioGems” it seeks to defend. It is the first time the council has designated a country as a BioGem since the program was begun in 2001. Its usual practice has been to designate specific sites or individual species. Other new sites on the list include the Carrizo Plain National Monument in central California and the Peace-Athabasca Delta in Alberta, Canada. NRDC said members are working with Costa Rican environment officials to help the government meet a pledge to become the world's first carbon-neutral nation by 2021. The council has also initiated renewable energy projects with the Costa Rican Electricity Institute. NRDC has also teamed up with the Tropical Agricultural Research and Training Center (CATIE) to plant 30,000 trees as part of a rainforest rejuvenation project, according to an NRDC press release. “These BioGems are some of the last wild and unspoiled places left in the Western Hemisphere,” NRDC senior attorney Robert Kennedy, Jr. said in a statement. “By naming these places as BioGems, NRDC is empowering hundreds of thousands of concerned individuals to take effective action to save these natural treasures for generations to come.” By: Tico Times (Original Here)
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Three telecommunications companies have solicited authorization from the Superintendent of Telecommunications (Sutel) to offer phone and internet services to the Costa Rican public. If approved, this will be the first time that the ex-monopoly Costa Rican Institute of Electricity (ICE) will face competition in the telecom market now that the Central American Free Trade Agreement (CAFTA) has officially passed.
Amnet, Ticom and WorldCom must wait for official approval from Sutel, which was just formed Jan. 27, before entering into the market to compete with ICE and their subsidiary, Racsa. Sutel did not expect to begin reviewing applications until February 13, but their speedy formation will allow them to begin with the review process. The company Ticom, which plans to operate phone lines in the country, with a focus on voice over IP, already submitted their request to operate in the country on Jan. 21. Amnet, which already offers cable television in the country, also requested the right to offer telephone services on Jan. 28. Finally, WorldCom, which offers high speed wireless internet access in the country, hopes to increase their services to more diverse regions of Costa Rica to both homes and large corporations. The company already invested some $5 million to enlarge their network throughout the country. The approval of these contracts s of interest to all involved, as Sutel recently rejected ICE’s plan to raise phone prices until competition exists in the market. Until it does, ICE is not allowed to raise prices over the amount set by the state regulating authority Aresep. Once these requests are approved only time will tell how prices and quality of service will be affected. Many CAFTA opponents made claims that the open market will cause phone prices to skyrocket, whereas proponents are mostly tired of ICE’s mediocre quality service. Hopefully change proves to be for the best in this case! Written by Claire Saylor, Costa Rica Pages, (Original Here)
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There’s no denying the fact that Britain is in a dire economic state and that this is highly likely to have knock on social issues – whether that be rising crime as some have predicted, or simply a feeling of hopelessness and negativity that pervades throughout the population. Therefore, it comes as no surprise to us that those who can are actively contemplating a retirement abroad. Yes, many who were already in the process of planning their escape have been forced to revisit plans as the pound has crashed and the housing market in the UK has weakened, but this has not put a dampener on the general appetite for an escape. In this article we will explain how to happily retire abroad – i.e., we will cover the groundwork that you need to do prior to a relocation to ensure that your move abroad is indeed a happy and successful one, and that you know in advance all about what you’re letting yourself in for. The good, the not so good and the absolutely brilliant! 1) Budget – never mind the currency at this point, all you need to know is that you will need to determine how much disposable income you will be left with each month from pensions and investments so that you can actually decide where in the world you can afford to live. You also need to consider the real fact that currencies fluctuate, sometimes in your favour, and sometimes very much against you. Therefore you never want to live up to your financial limit, just in case the exchange rate wind changes for the worse. 2) Priorities – when thinking about where you would like to retire abroad, you need to list out your priorities. Yes your relocation destination will be guided in part by budget, but you are still likely to be afforded quite a choice of nation depending on your budget. Therefore, list out your nation priorities and see which country best suits the requirements you have. Do you want a warm climate, do you need to be close to the UK, what about healthcare and crime rates, Sky TV and British expatriate social clubs? Think about what you can live with and what you can’t live without. 3) Family – chances are you will be retiring abroad and leaving your family behind. Your children and grandchildren will miss you and you will miss having them around too probably, so factor in their need to visit you and your desire to return ‘home’ to the UK sometimes when looking at both your financial budget and where in the world you would like to move to. Also, don’t forget about accommodating family and friends from the UK when you examine which property to rent or buy abroad. A 1 bedroom apartment is perhaps perfect for you for 10 months of the year, but an impossibility for the couple of months when you are inundated with visitors! 4) Health – whilst you are hopefully in the best of health these days, there may come a time when you require some medical treatment, or even when you reach the point of dependence and need a home help or even permanent care in a residential home. What are the standards of care like in your new country, how well equipped and financed is the health care system, can you afford to be ill abroad, do you need health insurance or is there a reciprocal agreement in place with Britain. Once you are non-resident in the UK for a period of 12 months or more, you are no longer entitled to NHS care free of charge. So do not neglect to look at your potential healthcare requirements. 5) Taxation – however dull talking about taxation is, it’s a fact that in many countries abroad you are taxed on your pension income. And whilst we think taxes in the UK are high, in some countries they can be even higher! Of course, there are exceptions – in Cyprus tax on retirement income can be as low as 5%, and in some countries such as Belize and Malaysia, there are incentive programmes in place to attract international retirees, and part of the incentives available include having no personal income tax liability. So, look carefully at any obligations you will have, both at home and abroad. Also, don’t forget inheritance tax. You might be moving to a country that levies 0% IHT, but you’ll most likely still be considered domiciled in the UK and therefore your worldwide estate will actually be liable for British inheritance tax. 6) Permission – as a British citizen we are fortunate to have a very powerful passport, however, there are still many countries in the world where we need visas and permits to enter and reside. Look closely at the rules that relate to your nation of choice, and ensure you can meet the criteria before you plan your retirement abroad. 7) Due Diligence – and finally, last but certainly not least – you need to spend a significant amount of time researching your chosen nation of choice. It’s no good picking Belize as your perfect retirement home if you’ve never been there and lived through the most humid days or the tail end of a tropical storm! You need to read about a country, ask people via forums about the nation and ultimately, you need to visit the country in question for a prolonged period of time before you decide to move there. Retiring abroad requires a significant initial financial outlay as you organise everything from a new home and car to shipping your personal goods, you don’t want to spend this money in vain only to find that you hate living in Belize and actually would have been far happier in Brittany. By: Shelter Off Shore (Original)
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Shortly after I arrived for an extended visit to Costa Rica I ran across a story from USA Today about foreigners buying retirement homes in the Guanacaste province of Costa Rica. As I traveled around Guanacaste with my parents, we saw some of the luxury beach compounds being marketed to foreigners, mainly Americans. The billboards advertising them are in English, and even modest properties being sold by local families have signs that say “for sale” instead of “se vende.” Costa Rica has long been a retirement destination for Americans, and the government has an active program to bring retirees and their dollars here. Many of these pensionados live in gated communities in the hills around the capital, San Jose, but some of those who settled farther afield have become integrated into local villages. No doubt the money that foreigners bring into the local economy is welcome. But there are problems. One is that these beach compounds for wealthy foreigners can stress the infrastructure. Costa Rica’s roads, sewers and water systems are not necessarily ready for huge condominium complexes with golf courses. Another is that local people are being priced out of the most desireable real estate in their own country. And yet another is what Americans could come to represent to Costa Ricans — a wealthy elite who hire local people as domestic servants but never become real neighbors. My parents came to Costa Rica almost 20 years ago as Peace Corps volunteers, lived in a modest house without an oven or hot water, and made lifelong friends in the area they served. No doubt some Americans still come here in this spirit, but Costa Ricans may have reason to think otherwise. By: Jeanne Leblanc (original)
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 Susan Smillie sailing in the Bahamas. Photograph: Mike Palfreman I'm floating in the Atlantic. Beams of sunlight illuminate dozens of parrotfish; a barracuda bares its teeth, perhaps at the silver jewellery glinting like tiny fish around my throat and fingers. I head out to where the ocean bed shelves and suddenly I make out a large shadow. As it ascends from the depths, I recognise the unmistakable shape and am stopped dead in the water. Somewhere, beyond the terror invading my mind, I register the immense grace of this shark cruising directly towards me. But mainly, at this point, I feel fear. I've seen enough Channel 5 documentaries to know I shouldn't act like prey; I stay where I am, suspended, alone, eyes wide, until, thank God, it turns away, side on, 15 feet off; it's around 5ft, and completely uninterested in me. Trembling, I swim back to the dinghy, where a couple of pre-teens have now spotted it. "A Caribbean reef shark," they giggle. "Cute." We're about 200 miles east of Miami, sailing around the Abacos, a chain of two islands and 82 cays loitering at the Bahamas' northern tip. I had strained for a glimpse as our little plane swept over the Gulf Stream from Florida. The Atlantic, big, intimidating, cobalt blue, gradually gave way to powder blue with shades of azure, streaks of turquoise, ruffled swirls of cerulean. Here and there, stretches of green amid immense white smudges look for all the world as if someone has reached down and rubbed parts of the ocean out. Bahamas, from the Spanish "baja mar", means shallow sea; large white sandbanks spread just below the surface. Seen from the deck of a boat, the water is of such clarity it's like a huge aquarium - shadows of fish darting through emerald. Down here, shades are important for navigating: medium blue, teal, and green indicate water of up to 25 feet, while hypnotically beautiful paler blues and greens indicate a drop in depth. We're here as part of a flotilla sailing group and have boats so new they are still unnamed. We christen ours Kathleen, and she cares for us well, sailing beautifully and accommodating all our needs with cosy cabins, a cockpit barbecue, even a proper shower cubicle. We soon fall into an easy routine; swimming in water so calm and blue it hardly seems real, snorkelling down at Lubbers Quarter, spotting sand dollars and starfish, sailing near Great Guana Cay, a steady breeze cooling us in the midday sun, bottlenose dolphins clicking and racing alongside. One lazy afternoon, we watch the giant silhouette of a manta ray drift by, while above, a rainbow perfectly encircles the sun. In late afternoon, we head to agreed destinations, where cold beers signal our arrival and the sun's departure. Lead skipper, Rob, motors round to check our moorings and I'm gratified - if slightly alarmed - to find we'll be sleeping on a boat held by my bowline knot. When the light has almost gone, we shower, join the others ashore to eat and swap stories. Chuck and Sandy from California have had dolphins playing round their bow at anchor, the Canadian family have been diving; we have all had excellent sailing on this beautiful Bahamian ocean. Time is spent exploring the out islands that fringe the north east of Great Abaco - Guana, Man-O-War and Elbow Cay. These so-called loyalist cays were first inhabited during the main wave of settlement by immigrants fleeing the American Revolution in 1783. Clutches of clapboard cottages are dotted around; homes modelled on the New England that settlers left behind, imbued with a particular Bahamian flavour, painted in bright colours with vibrant hibiscus flowers thronging out of tiny lawns. While the southern sides of the out islands face a relatively calm Abaco Sea, their north-eastern edges withstand the ravages of an ocean - Atlantic waves assault miles of deserted pink beach. Over here, the surfers have their fun; further out, sports fishermen are attracted by big fish off the Gulf Stream and just offshore, divers explore numerous reefs - loggerhead turtles, dolphins, whales, great whites, tiger and bull sharks have all been spotted, a range of marine life which attracts much of the tourism that provide locals with an income. Ubiquitous beach bars aside, there's a gentle pace in the Abacos, with more emphasis on family holidays and sailing than partying - there are said to be more boat slips here than hotel rooms. We visit Man-O-War, a boatbuilding settlement, where a traditional way of life prevails. Strictly religious islanders - many related to the original settlers (most of them seemingly named Albury) - have not compromised with the passing of time, the sale of alcohol is banned and Sundays bring a blanket shut-down while locals attend one of the tiny community's three churches. When weather warnings come, we are navigating the shallow channel at neighbouring Elbow Cay to the hopelessly picturesque settlement of Hope Town, its rows of pastel houses, each impeccably framed by picket fences. By the time the wind reaches 45 knots, we're safely moored under the reassuring beams of the candy-striped Elbow Reef lighthouse. Settled in a cosy cabin with a bottle of coconut rum, we watch the lighthouse keeper spark up the paraffin-fuelled flame, the light bouncing off a huge, rotating, glass Fresnel lens, beaming round and round for 20 miles. Built by the British Imperial Lighthouse Service in 1863, this lovely old thing is one of only three hand-wound beacons operating in the world. In the morning, porpoises circle us, also seeking shelter in the bay. We climb the lighthouse for a 360-degree view over a choppy Sea of Abaco, and an angry Atlantic beyond. A few days will be spent in Hope Town, and we find culinary gems tucked up little streets - succulent crawfish at Harbour's Edge restaurant puts a buttery smile on our faces; on a particularly stormy afternoon solace is found at Vernon's store, in his glorious key lime pie, and in sticky banana bread at Andrew Prosa's stylish European-***-Bahamian coffee shop. Just beyond the reach of the lighthouse beam, 20 miles south of Elbow Cay, lies Little Harbour, an artistic settlement founded in the Fifties by Canadian sculptor Randolph Johnston. The artist sailed his schooner in search of paradise. "There can be no doubt; this is our long-dreamed-of island," he wrote upon arrival at Little Harbour. "A perfect semicircle of white beach gently lapped by water so clear that you cannot tell where dry sand stops and water begins." A description that holds true today. Randolph, wife Margot, and their three boys carved a home, and eventually workshops and a bronze foundry, out of the limestone cliffs. Drawings by youngest son, Pete, depict their adventure - spear-fishing, swimming with dolphins, cave dwelling - while Randolph's diaries testify to the hard work required to make it happen. Nowadays, as well as a scattering of cottages, a pub and gallery, there's a dirt track, making Little Harbour accessible by land. We wander to the foundry where Pete is sculpting and beg him to show us the caves, but he's reticent, sick of tourists asking him to recount his extraordinary childhood. We enjoy the quiet anchorage as the sun sits in a brilliant blue sky among decorative clouds. Later, after a good dinner and drinks at Pete's pub, we rock gently on still water, an ivory strip of moonlit shallows encircling the harbour. I muse upon Randolph Johnston's search for paradise; he was, I decide, wise to choose the Abaco islands. By: Susan Smillie (Original Here)
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Ginanne Brownell | NEWSWEEK (Original Here)
During the boom economy it was hard enough to climb onto the real estate ladder to buy a first home, let alone a vacation property with an ocean view or ski-slope access. But the economic crisis has brought a bit of sunshine for investors who in the recent past have been priced out of top markets like Verbier, the Riviera, Tuscany and the Caribbean. ”There are more properties coming onto the market than we have seen for a very long time,” says Alexander Kraft, CEO of Sotheby’s International Realty in France. “And there are great deals to be had.
”That’s fantastic news for people like me. Last spring, standing on a cliff overlooking some of the more extraordinary villas near Es Cubells beach in Ibiza, I promised myself that one day I was going to own a vacation home. Maybe it would be on one of the enchanting Balearic Islands, or possibly in south Florida—Miami or Naples—where hot weather is guaranteed most of the year (though the charming hills of the Scottish Highlands and the desolate islands off Croatia have also stirred my heart). At the time, I did not think I could begin to look at options until several years down the line. But now, with the market for second homes softening fast, even freelance journalists like me can start realistically toying with the idea. I’ve got my eye on the stunning Zen Vida property in Majorca, which boasts five bedrooms with en suite bathrooms, three al fresco dining areas and a designer kitchen, as well as spectacular views of the Bay of Palma. Then again, it’s tough to pass up Théole-sur-Mer, the estate built in 1925 on a private peninsula near Cannes by the architect Barry Dierks, which offers an infinity pool and direct diving into the Mediterranean. (Both are offered through www.savills.co.uk/abroad; prices are available upon application.)
Marc Cohen, director of Ledbury Research, the London-based luxury consultancy, says that those who would normally not be able to afford a second home may gain the most from the global economic downturn. “The second-home market has suffered considerably,” he says. “If there is an active buyer, the type will have changed from the typical 65-year-old retiree who has sold his business or retired from a high-salaried job to one who is much younger who has seen this become more of an opportunity.”
The new year seems to be the perfect moment to start looking, says Lucy Russell, managing director of Quintessentially Estates (quintessentiallyestates .com). “Some of the very top-end properties have dropped significantly in most of the major European destinations,” she says. “[And] we have seen houses in the Caribbean drop by half a million dollars, giving the buyer a good rate of return.” In places like Spain, Malta and Portugal, there have been price drops of up to 30 percent for vacation homes. Three-bedroom, eco-friendly beachfront villas in the Joia das Dunas development northwest of Lisbon are selling for between €625,000 and €895,000. And in speculative markets—residences that are still under development, or areas like Dubai that are relatively new to second-home splurges—prices have dropped by up to 60 percent. Not that everything is a bargain; currently on the market in the Emirates Hills neighborhood of Dubai is an 8,170-square-meter, seven-bedroom, eight-bathroom villa complete with gym, cinema, sauna, steam room and two maids’ bedrooms for €5.8 million by Quintessentially Estates.
Sotheby’s Kraft says that for the last decade a villa with an ocean view in Cap Ferrat rarely stayed on the market for more than a week. Now such properties take much longer to sell. “Lots of sellers are getting flexible with prices, and owners, especially those from emerging economies, are willing to make a deal like maybe they would not have in the past,” he says. Take, for example, a lovely Tuscan home, on the market through Savills. The property, which overlooks Lake Montedoglio near Arezzo, has four fully restored buildings, a large swimming pool and oodles of privacy. But the owners are so keen to sell, they have already dropped the price by €1 million, to €2.2 million. “Over the past three years we have seen very substantial price rises in key destinations—and a corresponding drop in sales volume—so I think the readjustment was needed,” says Savills’ Charles Weston-Baker. “Each of us has an innate sense of value perception, and a lot of properties have just gone beyond what people are comfortable paying.” Weston-Baker speculates that those who can afford it will hold on to their second homes until the market rebounds. “But those who do need to sell will do so for substantially less than they would have six months ago,” he says. Es Cubells residents, watch out—my moving van may be speeding down the road sooner than you think.
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By Zach Pontz
CNN (Original Here) (CNN) — If you consider new experiences and foreign cultures an investment, Costa Rica might be a better option than the stock market right now. Flights are reasonable — I paid roughly $370 from Atlanta, Georgia, on short notice — and if you’re smart, so are meals. Sodas, small roadside stands which have minimal seating but maximum eating capacity, serve traditional dishes such as gallo pinto, a religiously devoured dish of rice, beans and alternating spices, or chicharrones, a typical fried meat dish. Cheap and delicious, they’re a great way to dine your way through the country for just a few dollars. And in Costa Rica, even indulging is cheap: For the most part, top-flight restaurants won’t cost you more than $25 a person. I was able to save some money by traveling with my friend Cristina and her family. But even if you don’t know anyone in Costa Rica, you can experience the authentic Costa Rican Tico style without going broke. Just follow me. South to San Isidro First thing to do upon arriving in the capital, San Jose, is head south. As in all tourism-driven countries, there are decidedly more expensive and increasingly non-indigenous sections of country, the north being the perpetrator here. For us, San Isidro, a small city in the southern part of the country, was our first stop. We drove, but if you don’t want to shell out a few hundred dollars for gas and the weekly rental of a car, buses are cheap and trustworthy. The quickest route to San Isidro is along the Pan-American Highway, a winding, throttled roadway through mountains and rainforest. Spinning through the fog and rain, our car pumping along, the silhouette of valleys along cliffs edge on either side of us, I began to ask myself when this trip would level out. As we approached our destination and the pulsing lights of the city in the valley below burgeoned, I had my answer. San Isidro sits amidst the hills on the edge of Chirripo National Park. What seems like a sluggish little town proves otherwise, as the center of the city is vibrant and rhythmic, bustling with people, shops and a multitude of restaurants. The main square, at the base of the town’s largest church, is attractive with its surrounding cafes, markets and stores. Particularly appealing is the Central market, open every day but Sunday until 5 p.m. The true character — and cheapest meals — of San Isidro are uncovered here, where bakeries, food stands and sweet shops act as a culinary history of a people . The empanadas, ceviches and plates of rice and beans — with their Spanish roots — were especially tantalizing. Waterfalls and surf The next day, we headed off toward the coast, but not before stopping to take a trip through the rainforest on horseback to Nauyaca Waterfalls. For $45, Don Lulo’s Nauyaca Waterfalls provides the horse, escort and grub. I admit I’d never been on a horse before, and the lack of control I felt at first wasn’t altogether pleasing. Despite some startling missteps by my horse, Yogi, I felt safe most of the time, and the trip was capped off with an amazing lunch of chicken, beans, rice and batidos, a popular Costa Rican drink consisting of fruit blended in water or milk. From the falls, we shot to Dominical, a small surf enclave with a rugged unmarked beach. We checked into Tortilla Flats, a hotel that sits 20 feet from the beach. For $20 a night, its location can’t be beat, even if its spartan rooms left a bit to be desired. The town has a bounty of small eateries. With multiple choices, including a sushi restaurant and a Mex-American bar, we chose a small deserted soda to dine in. The open air and scanty seating assured us that this was the place locals — and thus fine indigenous food — could be found. We were right. Wildlife in Manuel Antonio Last Stop: Manuel Antonio. This resort town sits on the edge of a national park. Frequented by movie stars and everybody else, the main road is lined with fancy hotels and restaurants. But the beauty of the place is that it’s not a one-note town. Scattered amongst the resorts are affordable accommodations that don’t skirt quality. At Villas El Parque, one such lodging, our room’s expansive views of the ocean were enthralling. A variety of restaurants, from tourist traps to small gastronomic gems, litter the mountainside. El Avion might be of interest, as it’s built around an old C-123 that was the sister plane of the one at the center of the 1980s Iran/Contra affair. Salvaged from the San Jose airport in 2000, it now acts not only as a novelty but also as a nightclub. The park itself is the main draw. Though it is smaller than most other national parks, its assortment of wildlife is astounding. You’ve got to be quick to catch a glimpse of the endangered squirrel monkey or a colorfully brilliant toucan. If a slow pace is more your style, lovably indolent sloths abound. I suggest hiring a tour guide. For a minimal fee, their quick vision and knowledge of the park’s life forms will no doubt ease any reluctance you might have about not going it alone. For a day’s worth of fun, you won’t spend more than $25 a person. For the week, I struggled to spend $300 in this tiny country, ironic when one considers that the English translation, Rich Coast, was coined when Spanish explorers came ashore in the 1500s and found natives wearing gold bands in their ears. Depending on your budget, anything from zip-line tours to windsurfing and scuba diving to climbing the edge of volcanoes can be accomplished in Costa Rica. The Tico lifestyle is enticing. A relaxed and languid pace reminds you of exactly what life is about — and how not to go broke trying to discover it.
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