A lower cost of living, sunny weather, and overall higher quality of life.
Many people across the globe are not happy with where they live. Sometimes the living conditions don’t meet their needs. Others would prefer a healthier investment or banking climate. Retirement communities are becoming more and more expensive and don’t offer an enjoyable lifestyle. That’s why many individuals are packing their bags, saying goodbye to their homes, and taking on the world as an expat.
Relocating to a new country can open up so many doors for personal life and on a financial or business level. While many have gone offshore, others are holding back, worried that the process will be hard or expensive. Without the proper planning or guidance, many have jumped too close to the sun and found themselves overwhelmed with the process, but that is simply because they did not have the right plan or advisor.
Some of the very best places for expats are in the Caribbean. What’s not to love about tropical weather, affordable cost of living, and practically living every day like it’s a vacation. The lifestyles offered by the Caribbean is for nearly anyone, whether it’s retirees looking to have a more comfortable lifestyle or digital nomad who want to spend their free time relaxing on the beach in between work hours. No matter what you need, there is a place in the Caribbean for you!
Let’s take a swim in the warm waters of the Caribbean and see five of the best destinations for expatriating. When you are ready to take a dive, contact Alpen Partners below!
For years, Belize has been a leading destination for expats because of its low price tag and the activities it has to offer.
Belize has a very laid back lifestyle that is hard not to love. The best part is, you will not have to give up your quality of life. Most places in the country live up to world-class standards in regards to infrastructure. As Belize increases in popularity, the less developed areas are seeing rapid growth in real estate development and infrastructure standards. More and more people are finding themselves visiting or relocating to the country, which means development is also increasing.
Activities are boundless in Belize. The mainland and surrounding islands are home to things like exploring historical landmarks and is one of the top destinations for water sports like snorkeling and scuba diving. In fact, water sport enthusiasts travel from all over the world to visit the Big Blue Hole and the second largest barrier reef in the world. If you are not up for adventure every day, that’s fine. There are plenty of beaches on which to soak up the sun.
I can’t forget to mention that the official language is English. Not only will expats live a worry-free lifestyle, as long as they have a grasp on English, but they’ll also be able to do it without a language barrier.
Over the years, Anguilla, a British Overseas Territory, has become a highly respected low-cost jurisdiction that boasts no tax on income made outside of the United States. There are also benefits to incorporating. In terms of privacy, the Offshore Banking Act of 2005 strictly prohibits all bank employees from disclosing financial information regarding any of their clients.
Since there are so many advantages to doing business in Anguilla, there’s no question why there is a global community of expats living in the territory. It is also quite easy to get residence in the country, especially for retirees who only need to purchase a property for a permanent residence status.
It is one of the relatively pricier options in the Caribbean, however.
The Dominican Republic is perfect for the North American expat looking for an inexpensive place to live. While there are some tourist-filled destinations, such as Punta Cana, expats find the Dominican Republic very charming.
It is pretty easy to live in the country, as well. It only requires at least an income of $1,500, which can be coming from Social Security or other pensions, to receive a residency permit. It’s also a pretty simple move too, considering household items and cars can enter the country tax-free.
Like the other Caribbean destinations, the British Overseas Territory of the Cayman Islands offers a high quality of life with a low cost of living. Many place this country on a pedestal as having one of the highest qualities of life in the Caribbean.
The Cayman Islands is not only a great place to live for expats, but it is also a highly regarded destination for financial activity.
As one of the top 10 international financial centers of the world, the banks in the Cayman Islands have a reputation for offering a range of services, just like many of the other banks on this list. What sets them apart, however, is the tax benefits that come from holding a bank account here.
Relocating to the Caribbean with Alpen Partners
Together, with respected law firms in various regions of the world, Alpen Partners is advising its clients on expatriation issues. In a world of increasing tax pressure and professional mobility, expatriation has become one of the most efficient tools for asset protection and estate planning. Moving abroad can come along with an abundance of benefits that can affect your taxes, your investment portfolio, cost of living, and your lifestyle altogether. As the cost of traveling becomes less expensive, the benefits of expatriation for financial reasons are more easily obtained.
Taking the leap and leaving your home country can be a big decision with tons of personal and legal steps. The hassle of navigating the legal process of expatriation can be reduced with the guidance of Alpen Partners. Each step requires assistance, including getting the passport, making sure everything is completed correctly regarding taxes, acquiring work permits, making investments, and more. No matter what expatriation route is chosen, it can be a powerful tactic to allow clients to gain better control of their financial and personal lives.