Emigration

Any questions - Emigration
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QI am hoping to retire abroad in a couple of years time, and I've heard about special incentives that are being offered in countries such as Panama and Costa Rica. How do these work? BETH KNIGHT, NEWCASTLE
ACosta Rica developed the pensionados policy 20 years ago, and it is now becoming a popular economic-development tool for many Central American nations. The policy includes offering tax incentives and other benefits to overseas retirees.
The main benefit for retirees registering for residency (or citizenship) under this policy are low rates for income taxes and no tax on foreign-sourced income. Full medical coverage is available to registered pensionados, who can pay into the countrys social security system from as little as $37 a month. The minimum income level is $600 a month.
Panama, Honduras and Belize are also actively courting retirees, mainly by offering tax-free status to property buyers. Panamanian pensionados are also able to bring household goods into the country tax-free, and bring new cars in duty-free every two years; residence requires an applicant income of $500,00 per month and $100,00 for each dependent.
At home in Turkey
QI am thinking about selling my home in the UK and relocating abroad. Property seems reasonably priced in Turkey I could buy a nice villa there, plus several smaller properties to give me an income. As the cost of living in Turkey is low, I could retire comfortably. What other things should I be concerned about?
A >Turkey is not a part of the EU but EU citizens will find the legalities relating to settling in Turkey fairly easy. The Turkish Embassy (www.turkishembassylondon.org) has a wealth of useful information about the process.
My main concern would be about putting all your eggs in one basket. Turkey has shown consistent long-term growth over the last 20 years, but there have been a number of significant short-term downturns, for instance following the two Gulf wars and bombing campaigns by Kurdish separatists. As you are looking at income rather than long-term capital growth, you might consider widening your property portfolio outside of the country to include some properties in destinations where the track record is more stable. Healthcare is also a concern as Turkey does not have a National Health Service, so you will have to pay for medical insurance, which can be expensive for retirees.
Australian studies
Q I have been asked if I would like to transfer my job to Australia. My wife and I are tempted, but we have three young children aged five, eight and nine to consider. Does the educational system over there differ from the UK? Also, how can I find information about individual schools?
AEducational choice is less of a priority in Australia than here in the UK. While there are options available at the secondary and tertiary level, there are no league tables for the public system as there are here. The general standard of education is good, and of a more equal level than in the UK.
At secondary school there is a wide curriculum designed to encompass all the talents and interests of students and, unlike the UK, in later years students cover an even wider selection of subjects to prepare them for the workforce or further education. Community involvement in monitoring the standard of Australian education is high.
Educational policies can vary across different states and territories within the country, although the system is overseen by a national body. Information on the policies of individual states and territories is available from their education boards.

If you would like additional information on any of our properties then please email Darren@Facebooknorthwest.net