Baby Boomer Retirement in Uruguay
We like Uruguay not only for its four mild seasons, long stretches
of coastline, charming old quarter
Montevideo), and laid-back way of life...but also for its friendly
tax legislation, its absolutely low cost of living, and its real
estate investment opportunities right now. Montevideo's old town is
being rejuvenated, thanks to foreign (not only American) investment,
but it's not too late to get a super-good buy on a classic-style
apartment in a good location. Beyond the capital, you can find even
better buys, on estancias and big tracts of productive land.
Learn more at "Live and Invest Overseas
Uruguay is also one of the easiest countries in the world to establish full-time foreign residency and, as well, a jurisdiction where opening a bank account can be a super-straightforward process. You should be able to open an account as a foreign resident or even as a non-resident simply by walking into a local Uruguayan bank and showing ID. And an account at a local Uruguayan bank (as opposed to one at an international bank in the country) can be all you need to manage your local expenses.
Medical facilities are top-notch in Uruguay, and comprehensive health coverage can cost less than US$100 per month. This is not "health insurance," per se, but full coverage at a particular Uruguay hospital. These kinds of "hospital plans" can be a good option if your plan is to be in one country full-time.
Uruguay's approach to taxation is as good as it gets for the foreign
resident. Living here, you're taxed only on money you earn in the
country. You can bring ("remit") as much money as you want into the
country to cover your living expenses; however, as long as you earn
no income locally, you have no local tax bill.
For all these reasons, therefore, and all things considered, Uruguay makes my short list of world's top retirement havens. Uruguay qualifies as sleepy, which is both a pro and a con. But un-sleepy Buenos Aires is only a quick flight or ferry ride away.
Uruguay at a Glance
Information on this page is provided in partnership with Kathleen Peddicord, Publisher of Live and Invest Overseas.
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