Bom dia! Let’s make 2025 a year to remember-together! We’re so glad you’re here! Our mission is to help you every step of the way as you plan your move abroad. Thank you for being part of our journey as we grow It'll Be Fun into your go-to resource for relocation, retirement, and financial freedom. *Stay Connected:* Join our It’ll Be Fun Online Monthly Meetups - _sign up at www.patreon.com/itllbefun._ Don’t miss out- _subscribe to our FREE Newsletter at www.itllbefunretirement.com._ Discover how our relocation services and expert team can support your move abroad. Your support helps us create helpful videos, maintain our website, and host free meetups packed with advice and resources. *Meet Our Expert Team:* *_Relocation Services_* - Claudia Ribeiro - LCL Real Homes Email: LCLRealHomes@gmail.com | Phone: +351 967 440 896 *_Visa & Immigration Servicet_* - Sandra Fernandes (SJF Consultancy) Email: sandra.jfernandes@sjf.pt - Save 10% with referral! *Explore Our Programs:* *Ultimate Moving Abroad Program* - www.itllbefunretirement.com *Monthly Meetup Crew* - www.patreon.com/itllbefun *1-to-1 Consultations* - www.itllbefunretirement.com We’re here to help make your dream move a reality. Thank you for your support! Wishing you all the best, Alan, Leslie, and Wolf The It'll Be Fun Team
Nice to see other options in moving abroad. We were lucky to become a temporary resident of Portugal and get on the NHR. Thank you for helping us do that!
Thank you for being part of our community! Did you know that Claudia has started her own company and has team members on the ground in the Algarve to help our people find their rentals and purchase properties. We are so excited on the expansion.
Bienvenue or Welcome in French is pronouced Be ah venew. Easier than it looks. Moving to France next year and as a US citizen retiree it is a very good country to move to. All our 401k/403b, Roth, pension social security and investment accounts are taxed in the US only so our total tax load is the same as currently living in the US. With no or much less property and state tax we will pay the same or less in overall taxes while getting healthcare from France in 90 days. It has a lot to offer. Thanks for covering options and helping people find their dream location.
Thanks for your help. We agree France really is a fantastic option for retirement. The only issue we found is the inheritance taxes can be hefty. If that is a potential issue it's worth taking a look at.
@@ItllBeFun Yes they can be substantial. Inheritance also can be less than obvious for those with children and step children. Definitely a factor to look into before moving.
Same here. My Texodus/emigration date is May 2025. French healthcare, while we'll be able to apply for it on Day 91 of living in the country, does not go into effect at that time. It can take months.
@@zeitgeist888 Les Franchies YT channel interviewed a lawyer who explained how to avoid inheritance taxes. U will need to create a French LLC before buying property. Then u will purchase ur property thru the French LLC and name urself and heirs as shareholders. When u pass, the heirs have the lawyer remove ur names. Also, pls note the annual French tax on worldwide real estate holdings. Also, u will prob pay a modest annual amt for healthcare plus abt $100/mo for top up insurance to cover anything not paid for by the health ins. I think the amt u will need to pay is based on ur gross annual earnings
Make sure to always purchase a private plan. It pays to be safe. We purchased our private plan months before we left the USA so it would be in effect when we got here. This might be worth checking out for yourself.
I've been watching you, Leslie, and Wolf for quite a while. I'm seriously looking into retiring to Albania. Thank you for providing useful and entertaining content.
@jennineosorio8786 We just left Albania in search of a possible retirement option from US. While the people are nice and everything is very cheap, be prepared for a lot of garbage and it's also a heavy smoking culture....even in restaurants. We were disappointed as we thought that Albania woukd be perfect. We're still looking....😏
@@ItllBeFun I came here just to mention Albania. The cost of living is much less than all of the countries listed here. US citizens can stay 1 year visa free and residency is much less expensive ($60k property) than say Portugal Golden Visa and the process is easier and quicker from what I've researched Albania has varied landscapes and decent beaches in the south. You should visit and report back here. 😁
Hello, thank you for the effort of putting this together. I am African based in Dubai and keen so much about quality and being organised. I have never seen a well composed video content . nice one keep it up, quality contents attract quality people
Obrigado! Thank you for watching and supporting our channel. We truly appreciate it. We hope you stay with us. Please let us know what else you would like to hear about. Have a wonderful day.
A great video for those looking for that perfect place. Like being in a candy store, which one to pick, perhaps get an assortment box. However, of course I will take a box of Portugal please the ones with chocolate on top.
Interesting! I’m choosing France and bought a small house in a small town with a train station to Poitiers, Limoges, and on to Paris or Bordeaux or Toulouse from Limoges. As I’m a writer I don’t care to stay right in a big city. Prefer the calmer life and I do speak passable French.
Many people don't realize that France and and US have an awesome tax treaty incredibly favorable for retirees. Many people who retire here pay zero or little France tax.
@@ItllBeFun I don't have kids so that is not a consideration for me. But. yes, the taxes are particularly high if you leave stuff to non-family. But for many people, things while they are alive are more important that factors after they are dead. (My goal is to die broke ;) Some people end up moving back home in their later years if the inheritence tax is a significant factor so they can still enjoy a good retirement.
I retired in Spain. It’s a wonderful country, but a little cold in the winter. It’s better to spend the winter in a tropical place, like Thailand or Latin America. Renting or buying a house is cheap, especially in less touristic places.
Malaysia is a wonderful place to retire except their updated MM2H visa program requires a hefty investment including a bank deposit and property purchase. It's more like US $200K+. But the overall cost of living is low with many amenities, modern infrastructure, good food, excellent healthcare and widely spoken English.
I was excited for Portugal a couple of years ago. I make more than enough with my monthly SS but as a single person the amount of savings they required you to have in the bank was not doable. Many people want to leave the US so they can start having such things as extra money and accumulating a savings. For single women France offered quite a bit and the healthcare is top notch. I also lived in Mexico and for under 1,000 in Mexico City. I've been up in Scotland a few years but definetly need a sunnier locale.Not to mention the hit the US dollar takes when converting into British Pounds. I also considered Panama as that US dollar matches the Panamanian. However, humid, tropical rainy weather is not for me. I prefer the Mediterranean climate. I love watching your videos. 👏🏼
Muito obrigado! Thank you very much for sharing your wisdom. You have had such wonderful experiences. We appreciate your support. Have a wonderful day.
@@morgan97475 I hear you there. I'm originally from Glasgow also but lived most of my life in the US before returning a few years ago. I'm south of there on the seacoast in Largs. Tell her the weather has gotten worse. This year broke a record I guess. People in England complain about the weather and they have 440 more hours of sun a year than Scotland.
@@morgan97475 Tell her it's changing and not like she remembers. It's a lovely tourist attraction. Marina, ferry over to Millport, 2.5 mile promenade along the towns seafront. However, lots changed after the pandemic. To live in a lovely place and have 2-3 days a month to enjoy it weatherwise is sad. We didn't even get summer this year. Where do you live now?
Olá Rui, You are so right the list changes. And as you know what is perfect for one person may not be perfect for another. But it is fun to visit, research, dream and plan!! We can't wait to see where you choose.aybe it will be multiple places.
@@YogaBlissDance NC was able to get into the MM2H residency program while the financial requirements were still relatively low. Now, the Malaysian govt has doubled (or more) the finance req, making it unaffordable for many ppl. If one likes to slow travel (and not rooted to a country), it's a good place to "park". Many nationalities can get 90 days (free) tourist visa on arrival.
Exciting News-International Living Online Magazine Reached Out to Us! How amazing is that? We've been proud subscribers for many years, and we’re thrilled to share their incredible resources with you. Check them out for yourself-who knows, maybe they’ll even set us up with an affiliate link so you can enjoy a special discount. Fingers crossed! internationalliving.com/ *Come visit us at www.itllbefunretirement.com and www.patreon.com/itllbefun And Let us know what you think!*
You produce so many great videos, and I thank you for that, but is there a reason you omitted the special requirement for Portugal D7 Retirement Visa holders to deposit the yearly minimum income requirement in a Portuguese bank? Or is it the minimum monthly requirement or a deposit in a Portuguese bank account equal to the monthly requirement for a year? A clarification would be greatly appreciated.
Olá! We are glad you are here. Thank you for your support. This video really is just able to provide the highlights for each country and touch on a Visa. There are many other Visa options available in each country. Please contact Sandra to get all the details. Also we have a video coming out in a week or two specific to Portuguese VISA'S. Hope this helps. Have a wonderful day.
Just to clarify: Tax Residents (those who spend 183 days per year in the country) of Spain are taxed on their worldwide income. Spain has a progressive tax rate, income greater than 60K euros is taxed at 45%. Many parts of Spain also have a "wealth tax." Bureaucracy there is rampant, to get a drivers license there as an American takes an average of 4 months and costs over 1000 euros even if you have 50 years of driving experience! Spain is a beautiful country, but would not be on my top 10 list.
Olá! Thanks for sharing. Also of note is the fact that a US citizen can't get a dual citizenship in Spain. So keep in mind you may want to get your EU citizenship in a different country.
Thanks for your great video's. What do you suggest: Do I keep my social security deposits in my US bank account (when I move to Portugal), or do I have them deposited in a Madeira bank account? Take care.
Olá! Many people choose to leave them in their US Bank until they get fully settled. That way you will give yourself time you can always have them directly deposited after you have been here for a while. Have you contacted Claudia in order to have her help you with your rental ir property purchase? We would appreciate it if you did.
Thanks for answering. I did contact her. She's helping find a rental. Hasn't said anything tome about a discount yet. I want to meet with you guys after I get there. 😉
You should join us for our monthly online meetups. You will meet people before you come and be able to ask questions. Come take a look at www.patreon.com/itllbefun. The next one is Saturday the 18th at 7pm Madeira time. We also have one to one meetups you can schedule. Hope to meet you soon.
Since January 1, 2024, foreign-sourced income repatriated in Thailand was subject to Thai Personal Income Tax regardless of which year it was brought in. However with tax rates lower than the US and with the Tax treaty, the vast majority of American retirees in Thailand have no Thai tax liability. In general the high taxes in European countries and the high crime rates in Latin American countries are disqualifiers for me. Thailand is referred to as the Land of Smiles where the food is incredible, the beaches are the most beautiful on earth and you can get a one hour Thai massage for about 3 US dollars.
@@lynetterosario5697 I used to live in South Florida, which receives more rainfall than Thailand and winters there are too cold to swim in the sea. I love the hot weather! I also lived in Guam which receives double the rainfall of Thailand.
Here is some additional information you may find helpful. There are many other options that may work depending on your needs MM2H Program Tiers and Financial Requirements for 2025: 1. Platinum Tier: Fixed Deposit: USD 1 million (~MYR 4.5 million) in a Malaysian financial institution. Property Purchase: Minimum MYR 2 million. Participation Fee: RM 200,000 for the principal applicant. Validity Period: 20 years, renewable. Minimum Age: 25 years. Additional Benefits: Employment and business activities permitted; domestic helper allowed. 2. Gold Tier: Fixed Deposit: USD 500,000 (~MYR 2.25 million). Property Purchase: Minimum MYR 1 million. Participation Fee: RM 3,000 for the principal applicant. Validity Period: 15 years, renewable. Minimum Age: 25 years. Additional Benefits: Employment and business activities permitted. 3. Silver Tier: Fixed Deposit: USD 150,000 (~MYR 675,000). Property Purchase: Minimum MYR 600,000. Participation Fee: RM 1,000 for the principal applicant. Validity Period: 5 years, renewable. Minimum Age: 21 years. 4. Special Economic Zone (SEZ) Category: Fixed Deposit: USD 65,000 for ages 21-49; USD 32,000 for ages 50 and above. Property Purchase: Must purchase property directly from developers in designated zones. Participation Fee: RM 1,000 for the principal applicant. Validity Period: 10 years, renewable. Minimum Age: 21 years. Additional Considerations: Minimum Stay Requirement: 90 cumulative days per year for all tiers. Dependents: Spouse, unmarried children under 34, and parents/parents-in-law can be included. Medical Insurance and Health Screening: Mandatory for all applicants. These updates aim to attract a diverse range of participants by offering flexibility to match different financial capabilities and lifestyle preferences. For the most accurate and up-to-date information, it's advisable to consult the official Malaysian Immigration Department or authorized MM2H agents.
Olá Valerie I created a spreadsheet that compares US taxes it Portuguese over the years. It is interesting. However it is worth speaking with an expat tax attorney and a Portuguese tax attorney. Both of our are listed in the description. Because in Portugal some pensions are tax a lot less. If you are lucky yours may fall in the right category. Which could mean you only pay 10% on that portion. Here is some information. Take it with a grain of salt .In Portugal, government pensions (including U.S. federal, state, and local government pensions, such as teacher pensions) are taxed exclusively by the United States, based on the U.S.-Portugal tax treaty. Key Points: 1. Taxation in the U.S. Only Government and teacher pensions are not taxed in Portugal but remain taxable in the U.S. These pensions include payments from federal or state employment (e.g., teachers, military, civil servants). 2. Private Pensions Are Different If the pension comes from private employment or Social Security, it is taxable in Portugal if you are a tax resident there. 3. Residency in Portugal If you are a Portuguese tax resident, you must declare the pension on your Portuguese tax return for informational purposes. However, a foreign tax credit applies to avoid double taxation. 4. Portugal Tax Rate Portugal has progressive income tax rates ranging from 14.5% to 48%, but these rates do not apply to U.S. government pensions due to the treaty.
Teachers pensions aren’t taxed in Portugal even without the NHR? I have a friend interested but I thought they’d be taxed after the abolition of the NHR.
They should speak with her our Portuguese tax attorney. Their contact information is on our website www.itllbefunretirement.com It Wil depend on how it is paid or set up
How strange, the living costs are everywhere about 2200 $. Ok, u can live for that amount everywhere in those states, but if u asume an equal living standard, it should be much more diverse than u tell us. Pls check again. And without detailing the costs for rent, eating, medical costs u can tell any number (as u did). Pls be more precise
Thanks for being here. Each persons.needs and wants are different. So it is all relative if you would like to create a full review filled with your.reserch and thoughts that would be awesome. Hope to see it soon
Bom dia! Let’s make 2025 a year to remember-together!
We’re so glad you’re here! Our mission is to help you every step of the way as you plan your move abroad. Thank you for being part of our journey as we grow It'll Be Fun into your go-to resource for relocation, retirement, and financial freedom.
*Stay Connected:*
Join our It’ll Be Fun Online Monthly Meetups - _sign up at www.patreon.com/itllbefun._
Don’t miss out- _subscribe to our FREE Newsletter at www.itllbefunretirement.com._
Discover how our relocation services and expert team can support your move abroad. Your support helps us create helpful videos, maintain our website, and host free meetups packed with advice and resources.
*Meet Our Expert Team:*
*_Relocation Services_* - Claudia Ribeiro - LCL Real Homes
Email: LCLRealHomes@gmail.com | Phone: +351 967 440 896
*_Visa & Immigration Servicet_* - Sandra Fernandes (SJF Consultancy)
Email: sandra.jfernandes@sjf.pt - Save 10% with referral!
*Explore Our Programs:*
*Ultimate Moving Abroad Program* - www.itllbefunretirement.com
*Monthly Meetup Crew* - www.patreon.com/itllbefun
*1-to-1 Consultations* - www.itllbefunretirement.com
We’re here to help make your dream move a reality. Thank you for your support!
Wishing you all the best, Alan, Leslie, and Wolf The It'll Be Fun Team
Nice to see other options in moving abroad. We were lucky to become a temporary resident of Portugal and get on the NHR. Thank you for helping us do that!
Thank you for being part of our community! Did you know that Claudia has started her own company and has team members on the ground in the Algarve to help our people find their rentals and purchase properties. We are so excited on the expansion.
Bienvenue or Welcome in French is pronouced Be ah venew. Easier than it looks. Moving to France next year and as a US citizen retiree it is a very good country to move to. All our 401k/403b, Roth, pension social security and investment accounts are taxed in the US only so our total tax load is the same as currently living in the US. With no or much less property and state tax we will pay the same or less in overall taxes while getting healthcare from France in 90 days. It has a lot to offer. Thanks for covering options and helping people find their dream location.
Thanks for your help. We agree France really is a fantastic option for retirement. The only issue we found is the inheritance taxes can be hefty. If that is a potential issue it's worth taking a look at.
@@ItllBeFun Yes they can be substantial. Inheritance also can be less than obvious for those with children and step children. Definitely a factor to look into before moving.
Same here. My Texodus/emigration date is May 2025. French healthcare, while we'll be able to apply for it on Day 91 of living in the country, does not go into effect at that time. It can take months.
@@zeitgeist888 Les Franchies YT channel interviewed a lawyer who explained how to avoid inheritance taxes. U will need to create a French LLC before buying property. Then u will purchase ur property thru the French LLC and name urself and heirs as shareholders. When u pass, the heirs have the lawyer remove ur names.
Also, pls note the annual French tax on worldwide real estate holdings.
Also, u will prob pay a modest annual amt for healthcare plus abt $100/mo for top up insurance to cover anything not paid for by the health ins. I think the amt u will need to pay is based on ur gross annual earnings
Make sure to always purchase a private plan. It pays to be safe. We purchased our private plan months before we left the USA so it would be in effect when we got here. This might be worth checking out for yourself.
I've been watching you, Leslie, and Wolf for quite a while. I'm seriously looking into retiring to Albania. Thank you for providing useful and entertaining content.
We need to go to Albania. It is supposed to be very nice. Thank you for supporting us. We appreciate it. Have a wonderful day.
@jennineosorio8786 We just left Albania in search of a possible retirement option from US. While the people are nice and everything is very cheap, be prepared for a lot of garbage and it's also a heavy smoking culture....even in restaurants. We were disappointed as we thought that Albania woukd be perfect. We're still looking....😏
@@ItllBeFun I came here just to mention Albania. The cost of living is much less than all of the countries listed here. US citizens can stay 1 year visa free and residency is much less expensive ($60k property) than say Portugal Golden Visa and the process is easier and quicker from what I've researched Albania has varied landscapes and decent beaches in the south. You should visit and report back here. 😁
Send money
Soooo many great options!! Thanks for all that you share 😊
You are so welcome! We are planning a Visit for this summer.
Yeah!!!
Hello, thank you for the effort of putting this together. I am African based in Dubai and keen so much about quality and being organised. I have never seen a well composed video content . nice one keep it up, quality contents attract quality people
Obrigado! Thank you for watching and supporting our channel. We truly appreciate it. We hope you stay with us. Please let us know what else you would like to hear about. Have a wonderful day.
A great video for those looking for that perfect place. Like being in a candy store, which one to pick, perhaps get an assortment box. However, of course I will take a box of Portugal please the ones with chocolate on top.
I will take an assorted box of dark chocolate, please.
EXCELLENT video! The timestamps are VERY HELPFUL.
Muito obrigado! We appreciate your support. Have a wonderful day.
Interesting! I’m choosing France and bought a small house in a small town with a train station to Poitiers, Limoges, and on to Paris or Bordeaux or Toulouse from Limoges. As I’m a writer I don’t care to stay right in a big city. Prefer the calmer life and I do speak passable French.
Sounds wonderful! Thank you for being here and sharing your plans.
This is great value content, keep it up, thank you 🎉😊
Muito obrigado! Thank very much for watching and supporting our channel. We truly appreciate it.
Have you seen the It'll Be Fun pod cast. The new one is all about Buying Real Estate in Portugal in 2025.
Many people don't realize that France and and US have an awesome tax treaty incredibly favorable for retirees. Many people who retire here pay zero or little France tax.
Exactly! It is well worth looking into retirement in France. But double check the inheritance taxes and how they may or may not effect you.
@@ItllBeFun I don't have kids so that is not a consideration for me. But. yes, the taxes are particularly high if you leave stuff to non-family. But for many people, things while they are alive are more important that factors after they are dead. (My goal is to die broke ;) Some people end up moving back home in their later years if the inheritence tax is a significant factor so they can still enjoy a good retirement.
All good ideas. We just want to ensure everyone remembers to plan for their individual needs and wants.
Italy may have the best pasta, but I’d still pick Spain’s beaches over Rome's heat. 😅 The Mediterranean vibe is calling my name! Who's with me?
Spain! We are! Once we have an EU passport it becomes number one on our list!
Great video Alan. Too bad we are both enjoying Portugal to consider relocating to another country. But watching this makes us want to travel more.
Olá! We are having a lot of fun traveling and looking for other wonderful places in the world. but for the time being Portugal works
I retired in Spain. It’s a wonderful country, but a little cold in the winter. It’s better to spend the winter in a tropical place, like Thailand or Latin America. Renting or buying a house is cheap, especially in less touristic places.
Great idea! Thank you for sharing.
Malaysia is a wonderful place to retire except their updated MM2H visa program requires a hefty investment including a bank deposit and property purchase. It's more like US $200K+. But the overall cost of living is low with many amenities, modern infrastructure, good food, excellent healthcare and widely spoken English.
Thanks for sharing. We appreciate your support. Have a wonderful day.
I was excited for Portugal a couple of years ago. I make more than enough with my monthly SS but as a single person the amount of savings they required you to have in the bank was not doable. Many people want to leave the US so they can start having such things as extra money and accumulating a savings. For single women France offered quite a bit and the healthcare is top notch. I also lived in Mexico and for under 1,000 in Mexico City. I've been up in Scotland a few years but definetly need a sunnier locale.Not to mention the hit the US dollar takes when converting into British Pounds. I also considered Panama as that US dollar matches the Panamanian. However, humid, tropical rainy weather is not for me. I prefer the Mediterranean climate. I love watching your videos. 👏🏼
Muito obrigado! Thank you very much for sharing your wisdom. You have had such wonderful experiences. We appreciate your support. Have a wonderful day.
Where in Scotland? My wife is from Glasgow & has no desire to live in Scotland due to the climate/ weather.
@@morgan97475 I hear you there. I'm originally from Glasgow also but lived most of my life in the US before returning a few years ago. I'm south of there on the seacoast in Largs. Tell her the weather has gotten worse. This year broke a record I guess. People in England complain about the weather and they have 440 more hours of sun a year than Scotland.
@@agl5132 She has told me that Largs is a lovely area. I hope to visit there when we go to the UK, hopefully later this year.
@@morgan97475 Tell her it's changing and not like she remembers. It's a lovely tourist attraction. Marina, ferry over to Millport, 2.5 mile promenade along the towns seafront. However, lots changed after the pandemic. To live in a lovely place and have 2-3 days a month to enjoy it weatherwise is sad. We didn't even get summer this year. Where do you live now?
Good one.I love Portugal but wouldnt hate living in Greece, France or Italy.
We agree! Muito obrigado!
The Italy discount is in Southern Areas including Sardinia.
Hello guys. Nice list. By the time we retire that list will be different. If we ever manage to retire😀
Olá Rui,
You are so right the list changes. And as you know what is perfect for one person may not be perfect for another. But it is fun to visit, research, dream and plan!! We can't wait to see where you choose.aybe it will be multiple places.
@ Multiple places… I wish. 😀
It will happen! We believe!
Le meilleur endroit ? Près de sa famille et ses amis
There is merits in being next to family. Everyone needs to choose what is best for them.
10 great places to choose from. All do warrant a visit at least!
Gives you lots of reason to travel the world.
Agree with the countries included in the list with the exception of Greece and France. Malaysia should be first or second.
Thanks for watching and supporting our channel. Did you have others you like better than Greece and France?
Nomad Capitalist LOVES Malaysia!
@@YogaBlissDance NC was able to get into the MM2H residency program while the financial requirements were still relatively low. Now, the Malaysian govt has doubled (or more) the finance req, making it unaffordable for many ppl. If one likes to slow travel (and not rooted to a country), it's a good place to "park". Many nationalities can get 90 days (free) tourist visa on arrival.
Are you advertising for him? ....
And yes, he does
Exciting News-International Living Online Magazine Reached Out to Us!
How amazing is that? We've been proud subscribers for many years, and we’re thrilled to share their incredible resources with you.
Check them out for yourself-who knows, maybe they’ll even set us up with an affiliate link so you can enjoy a special discount. Fingers crossed!
internationalliving.com/ *Come visit us at www.itllbefunretirement.com and www.patreon.com/itllbefun And Let us know what you think!*
You produce so many great videos, and I thank you for that, but is there a reason you omitted the special requirement for Portugal D7 Retirement Visa holders to deposit the yearly minimum income requirement in a Portuguese bank? Or is it the minimum monthly requirement or a deposit in a Portuguese bank account equal to the monthly requirement for a year? A clarification would be greatly appreciated.
Olá! We are glad you are here. Thank you for your support. This video really is just able to provide the highlights for each country and touch on a Visa. There are many other Visa options available in each country. Please contact Sandra to get all the details. Also we have a video coming out in a week or two specific to Portuguese VISA'S. Hope this helps.
Have a wonderful day.
@@ItllBeFun Last I heard (last year), you must deposit €8,000 into a Portuguese bank.
You must have one years of the minimum wage in the bank account before you apply for your VISA. But it depends on the VISA you are applying for..
Great. Thank you. But you missed Cyprus
Cyprus is a great choice as well. Thank you for sharing your thoughts.
Just to clarify: Tax Residents (those who spend 183 days per year in the country) of Spain are taxed on their worldwide income. Spain has a progressive tax rate, income greater than 60K euros is taxed at 45%. Many parts of Spain also have a "wealth tax." Bureaucracy there is rampant, to get a drivers license there as an American takes an average of 4 months and costs over 1000 euros even if you have 50 years of driving experience! Spain is a beautiful country, but would not be on my top 10 list.
Olá! Thanks for sharing. Also of note is the fact that a US citizen can't get a dual citizenship in Spain. So keep in mind you may want to get your EU citizenship in a different country.
It’s symbolic though. The U.S. won’t take away your citizenship regardless of what Spain says.
Probably. But it best for someone to fully understand before they make the move.
Thanks for your great video's. What do you suggest: Do I keep my social security deposits in my US bank account (when I move to Portugal), or do I have them deposited in a Madeira bank account? Take care.
Olá! Many people choose to leave them in their US Bank until they get fully settled. That way you will give yourself time you can always have them directly deposited after you have been here for a while. Have you contacted Claudia in order to have her help you with your rental ir property purchase? We would appreciate it if you did.
Thanks for answering. I did contact her. She's helping find
a rental. Hasn't said anything tome about a discount yet. I want to meet with you guys after I get there. 😉
You should join us for our monthly online meetups. You will meet people before you come and be able to ask questions. Come take a look at www.patreon.com/itllbefun. The next one is Saturday the 18th at 7pm Madeira time. We also have one to one meetups you can schedule. Hope to meet you soon.
Since January 1, 2024, foreign-sourced income repatriated in Thailand was subject to Thai Personal Income Tax regardless of which year it was brought in. However with tax rates lower than the US and with the Tax treaty, the vast majority of American retirees in Thailand have no Thai tax liability. In general the high taxes in European countries and the high crime rates in Latin American countries are disqualifiers for me. Thailand is referred to as the Land of Smiles where the food is incredible, the beaches are the most beautiful on earth and you can get a one hour Thai massage for about 3 US dollars.
Thanks for sharing! Sounds perfect
@@ItllBeFun But what about that awful HOT climate!! The rainy season...
@@lynetterosario5697 I used to live in South Florida, which receives more rainfall than Thailand and winters there are too cold to swim in the sea. I love the hot weather! I also lived in Guam which receives double the rainfall of Thailand.
Everyone has different needs. We each have to adjust as needed.
$83000 for Malaysia sounds like a lot to have in the bank just to get a visa.
Here is some additional information you may find helpful. There are many other options that may work depending on your needs
MM2H Program Tiers and Financial Requirements for 2025:
1. Platinum Tier:
Fixed Deposit: USD 1 million (~MYR 4.5 million) in a Malaysian financial institution.
Property Purchase: Minimum MYR 2 million.
Participation Fee: RM 200,000 for the principal applicant.
Validity Period: 20 years, renewable.
Minimum Age: 25 years.
Additional Benefits: Employment and business activities permitted; domestic helper allowed.
2. Gold Tier:
Fixed Deposit: USD 500,000 (~MYR 2.25 million).
Property Purchase: Minimum MYR 1 million.
Participation Fee: RM 3,000 for the principal applicant.
Validity Period: 15 years, renewable.
Minimum Age: 25 years.
Additional Benefits: Employment and business activities permitted.
3. Silver Tier:
Fixed Deposit: USD 150,000 (~MYR 675,000).
Property Purchase: Minimum MYR 600,000.
Participation Fee: RM 1,000 for the principal applicant.
Validity Period: 5 years, renewable.
Minimum Age: 21 years.
4. Special Economic Zone (SEZ) Category:
Fixed Deposit: USD 65,000 for ages 21-49; USD 32,000 for ages 50 and above.
Property Purchase: Must purchase property directly from developers in designated zones.
Participation Fee: RM 1,000 for the principal applicant.
Validity Period: 10 years, renewable.
Minimum Age: 21 years.
Additional Considerations:
Minimum Stay Requirement: 90 cumulative days per year for all tiers.
Dependents: Spouse, unmarried children under 34, and parents/parents-in-law can be included.
Medical Insurance and Health Screening: Mandatory for all applicants.
These updates aim to attract a diverse range of participants by offering flexibility to match different financial capabilities and lifestyle preferences.
For the most accurate and up-to-date information, it's advisable to consult the official Malaysian Immigration Department or authorized MM2H agents.
Retirement in Thailand is not that easy anymore.
Yes. It is getting harder and more expensive. In many countries.
Malaysia should be first.. And Thailand next.. I woulf not touch the rest of those usa vessel countries.
Thank for watching and supporting our channel. Everyone has different wants and needs.
Portugal has moved to progressive taxes on all retirement income. I’m trying to figure out if that would leave me enough for monthly expenses.
Olá Valerie
I created a spreadsheet that compares US taxes it Portuguese over the years. It is interesting. However it is worth speaking with an expat tax attorney and a Portuguese tax attorney. Both of our are listed in the description. Because in Portugal some pensions are tax a lot less. If you are lucky yours may fall in the right category. Which could mean you only pay 10% on that portion.
Here is some information. Take it with a grain of salt
.In Portugal, government pensions (including U.S. federal, state, and local government pensions, such as teacher pensions) are taxed exclusively by the United States, based on the U.S.-Portugal tax treaty.
Key Points:
1. Taxation in the U.S. Only
Government and teacher pensions are not taxed in Portugal but remain taxable in the U.S.
These pensions include payments from federal or state employment (e.g., teachers, military, civil servants).
2. Private Pensions Are Different
If the pension comes from private employment or Social Security, it is taxable in Portugal if you are a tax resident there.
3. Residency in Portugal
If you are a Portuguese tax resident, you must declare the pension on your Portuguese tax return for informational purposes. However, a foreign tax credit applies to avoid double taxation.
4. Portugal Tax Rate
Portugal has progressive income tax rates ranging from 14.5% to 48%, but these rates do not apply to U.S. government pensions due to the treaty.
Teachers pensions aren’t taxed in Portugal even without the NHR? I have a friend interested but I thought they’d be taxed after the abolition of the NHR.
@@ItllBeFun Fabulous information! Thanks.
They should speak with her our Portuguese tax attorney. Their contact information is on our website www.itllbefunretirement.com It Wil depend on how it is paid or set up
Thank you so much!
France is horrific. The weather that is.
Not if you are from Chicago! Like everything in life it is all relative.
How strange, the living costs are everywhere about 2200 $. Ok, u can live for that amount everywhere in those states, but if u asume an equal living standard, it should be much more diverse than u tell us. Pls check again. And without detailing the costs for rent, eating, medical costs u can tell any number (as u did). Pls be more precise
Thanks for being here. Each persons.needs and wants are different. So it is all relative if you would like to create a full review filled with your.reserch and thoughts that would be awesome. Hope to see it soon