Just started our 5th year in France.
Retiring overseas in no way affects your US citizenship, US voting rights, or requirement to pay US taxes. As others have noted, there are many online resources for retiring overseas, whether temporarily or permanently. International Living (see link below) is a good place to start and has lots of useful information. Big things to get smart on are:
- Visa Requirements. This is the most important and the one you have to be sure to have sorted out. It was easy for me moving to France because I’m also a Hungarian citizen and therefore have EU citizenship. We had to get a residency permit for my wife but that was automatic (as automatic as French bureaucracy can be) because of my EU citizenship. Many countries have special visa programs for US retirees. You typically have to demonstrate some level of income/wealth. Again, you want to be certain what the requirements are and do what you have to do before you arrive.
- Healthcare. Uruguay is supposed to have excellent healthcare for South America but you definitely want to do your research. We had to carry private health insurance to get my wife’s residency permit until we got covered under the French system, which is AWESOME. Reduced healthcare cost is one of the primary benefits of living overseas. Again, since health care is sometimes tied to the visa, do your homework.
- Taxes. It is a really good idea to find an Uruguayan tax accountant or similar who is familiar with tax requirements for US expats. You have to pay US taxes wherever you live in the world (unless you renounce your citizenship). Some countries like France have a tax treaty with the US so we essentially pay no French income tax. Some countries or regions within countries like Spain have a wealth tax where you have to pay an annual tax on your worldwide assets, not just capital gains. This is why my wife and I love Spain but will only love it for about 181 days each year.
- Housing. Very important to figure out where you want to live and what it’s going to cost. It is a really, really good idea to take a couple trips and figure out what city and neighborhood within a city you want to live in before you sign a lease. Transportation is super important and if you need a car, investigate what’s required to get a license. I, a filthy California socialist, actually moved to Texas before we left the US because you can exchange a Texas drivers license for a French one, thereby avoiding the painful and expensive French driving exams.
Depending on where you are in country, there are sometimes firms that specialize in taking care of all of these expat relocation details for you (for a fee of course). Aside from that, good for you and good luck. We absolutely love the adventure of living overseas. There are headaches and frustrations to be sure but we love it.
Link:
International Living
Thread Replies (25)
Anybody here ever moved overseas temporarily?
-- GoobyPls
Oct 24, 2024 at 03:23 PM ET
GoobyPls
•
10/24/24 03:23 PM ET
Just started our 5th year in France.
◄
-- SDHokie
Oct 25, 2024 at 01:05 PM ET
SDHokie
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10/25/24 01:05 PM ET
HokieAl made a good point about banking.
-- SDHokie
Oct 25, 2024 at 01:20 PM ET
SDHokie
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10/25/24 01:20 PM ET
In general you should consider the basics on both sides
-- HokieAl
Oct 24, 2024 at 11:25 PM ET
HokieAl
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10/24/24 11:25 PM ET
London for several years but employer took care of paperwork
-- HwoodHokie
Oct 24, 2024 at 10:10 PM ET
HwoodHokie
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10/24/24 10:10 PM ET
I was in England for 3 years for work. Not many issues. There are some
-- UTPr0sim
Oct 24, 2024 at 06:06 PM ET
UTPr0sim
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10/24/24 06:06 PM ET
I've gone overseas for 6 months at a time
-- EDGEMAN
Oct 24, 2024 at 04:57 PM ET
EDGEMAN
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10/24/24 04:57 PM ET
Thanks for your service! **
-- TomTurkey
Oct 24, 2024 at 05:51 PM ET
TomTurkey
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10/24/24 05:51 PM ET
^^Does not work for Delta^^ (link inside)**
-- MP4VT2004
Oct 24, 2024 at 06:09 PM ET
MP4VT2004
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10/24/24 06:09 PM ET
Deplorable. Suicide prevention. Why not the original seat? Overbook replace**
-- TomTurkey
Oct 24, 2024 at 06:45 PM ET
TomTurkey
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10/24/24 06:45 PM ET
Can't answer your question directly, but might be worth the investment to..
-- BleedinOandM
Oct 24, 2024 at 04:51 PM ET
BleedinOandM
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10/24/24 04:51 PM ET
My best friend has been playing that loophole.
-- MP4VT2004
Oct 24, 2024 at 08:34 PM ET
MP4VT2004
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10/24/24 08:34 PM ET
Ha, well he is convinced it does. I guess we'll see if...
-- MP4VT2004
Oct 25, 2024 at 09:50 AM ET
MP4VT2004
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10/25/24 09:50 AM ET
Whole bunch of "loopholes" are really "nobody has enforced yet"
-- HWA
Oct 25, 2024 at 10:29 AM ET
HWA
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10/25/24 10:29 AM ET
After reading that in more depth, I think the "loophole" is the FEIE.
-- MP4VT2004
Oct 25, 2024 at 10:51 AM ET
MP4VT2004
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10/25/24 10:51 AM ET
I'll have to ask him what he is basing his opinion on.
-- MP4VT2004
Oct 25, 2024 at 10:35 AM ET
MP4VT2004
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10/25/24 10:35 AM ET
Does this have to do with the vending machine post below?**
-- RhinoVT
Oct 24, 2024 at 04:10 PM ET
RhinoVT
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10/24/24 04:10 PM ET
whats the worst that could happen **
-- bigbadbird
Oct 24, 2024 at 03:57 PM ET
bigbadbird
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10/24/24 03:57 PM ET
Your citizenship doesn't disappear because you move**
-- hoosnowahokie
Oct 24, 2024 at 03:27 PM ET
hoosnowahokie
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10/24/24 03:27 PM ET
I meant as far as what else is involved with living overseas **
-- GoobyPls
Oct 24, 2024 at 03:55 PM ET
GoobyPls
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10/24/24 03:55 PM ET
I would get in touch with the US EXPAT community there for answers.
-- EDGEMAN
Oct 24, 2024 at 05:05 PM ET
EDGEMAN
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10/24/24 05:05 PM ET
In fact, it is nearly impossible to renounce US citizenship if you want to.**
-- dolph
Oct 24, 2024 at 03:48 PM ET
dolph
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10/24/24 03:48 PM ET
They want you to keep paying US Taxes.**
-- Spud
Oct 24, 2024 at 03:55 PM ET
Spud
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10/24/24 03:55 PM ET