How Much Do You think You Need to Retire/What Age Will You/Spouse Retire: General Retirement Issues (Part 2)

I don’t think one can simply move to Spain or the UK or many other countries without having a permanent residency or citizenship in that country. Sure there are places that will sell golden passports for a hefty sum, but if political winds change, such passports can be taken away as fast as they were issued.

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True, a lot of their American friends from high school and college are living in Europe, like Germany, and Sweden. How did they do that.

According to this WSJ article, Portugal has some of the most liberal regulations in Europe, including a special retirement visa, and is becoming very popular amongst Americans, especially older women for some reason:
https://www.wsj.com/articles/portugal-retirement-what-to-know-11649450537

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That’s quite obvious. Citizenship trumps all otter situations.

Visas and special status residencies can be easily taken away, just saying. Some of these popular destinations might eventually regret the influx of old, rich US folks… just like states here like to tax tourists, a retirement destination country might implement a high tax on foreigners who, unlike the locals, can’t influence the politics.

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But unfortunately for them the UK isn’t in Europe (any more) :wink:

I know, I was there when Brexit happened.

Speaking of retiring abroad, has anyone looked into acquiring a second citizenship?

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By descent

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Work visa sponsorship is different in the EU and UK from the U.S.

Work visa (H1B) is tied to a company’s need to hire an individual and subject to numerical limits in the U.S. A company has to file paperwork many months in advance and can still fail in the work visa lottery.

First, for UK - a company gets a “license” to hire foreign workers. So if a company is licensed, it can hire foreign workers without going through a lot of hurdles for each hire.

Germany is different but also less complicated than the U.S. An individual who gets offered a job can get a visa. No need to prove anything to the same level as the U.S.

The other thing about the U.S. is the ability of a foreign college student to work for a year after graduation here, and 3 years if STEM. This makes U.S. colleges attractive to international students.

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I have. I am eligible easily for German citizenship because one of my parents was from Germany and was stateless after WW2. I have all the documentation I need…just need to go to a German consulate.

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I already am through my dad. I’d encourage anyone considering moving abroad and/or acquiring citizenship to do a deep dive on the tax implications.

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My hunch is that a larger proportion of the CC posters have eligibility for a 2nd passport compared to the regular population. We have 3 (and maybe 4) passports between my spouse and me.

But only the US taxes its citizens regardless of domicile.

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I have seen “medicare” and “Medicaid” talked about on this thread.
They are very different programs, in case that’s not known by all.
Medicare is a federal program, for people 65 and over.
Medicaid is a state and local combination, for people with very low incomes.

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And (if I understand things correctly), an over-65 nursing home patient who has run out of money would flip from Medicare coverage to Medicaid? I think that was the case for my grandfather (but in CO, back in 1994).

I BELIEVE that is correct, but it has to be a Medicaid approved facility, and the person needs to meet the Medicaid requirements for that state.
It may also be that the facility involved has to have a “Medicaid bed” available. It may be that only a certain number of beds in a facility can be used for Medicaid patients.
I am not an expert on this, but the above is my understanding.

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Seems that much of the population of the US has some ancestral connection that allows for easier ways than ordinary naturalization to get citizenship or residency / right of abode in some other country. However, not all such countries would be ones that they would necessarily want to live in now or for retirement.

I received my proof of Canadian citizenship documentation this year and have started the process of applying for a passport. Never know when I might need it… Not sure what DH will do without me if the time comes. :wink:

ETA: Whoa. Per the link above, I may be eligible for Czech citizenship as both my grandparents were born in Prague. Czech is my dad’s native language. Would love to have an EU passport. Off to Google…

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Paying income tax in two places is a real thing. As Americans ( if you hold a US passport) you are still required to file US taxes. So yes, you could end up paying twice unless the countries have a treaty between them. Some are very complex. At the very least you are going to pay huge fees to tax specialists.
You can move to many of these countries for a golden visa ( which can be far less than the cost of condo in FL). They usually don’t give the passport but a visa with purchase of property. The passport can come later. Some countries like Switzerland require a specific amount of cash ( so you don’t rely on their systems).
If you own a company that is moveable ( like a consulting, tech etc) it’s pretty easy to move. People usually have a connection to a country, look at the requirements to move there then do it.
Naturally, there are risks. Someone who planned to live in Britain and utilize the EU connections might have an issue now.

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Yes. Some are easier than others to obtain. It depends a lot on how many generations removed you are and what country. Overall, it’s a lot more paperwork and legal stuff than people realize. I think they do that to scare people off. Although, I also think it’s far easier than it was a couple of decades ago. You can order many documents online these days.

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Totally worth it to research Czech citizenship. Gives you access to the Mediterranean!

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