Puro Party wrote:
"It also made me realize that I would be paying way too much for caja as soon as I start taking my social security unless I tried to fly under the radar."
Just this week starting to think about pulling the plug in the US and moving down somewhere (Colombia proly) then started thinking through just this aspect. Their highest tax rate is 39% and even $1000/mo. down there proly taxed a good chunk at the high end. With pensionado visa cannot stay greater than 182 days per year or income is taxable. So under that visa plan could only really live there half the year without being taxed. Maybe I split my time between CO and CR, Panama or Spain even. Although I would like to keep a place I could live in the U.S. (good climate and sex not a felony state) it is getting about impossible unless continue slaving away owned by an employer or independently wealthy.
CO has other visas (investment, student (?), real estate purchase etc.). Wondering if purchased a modest property in estrato 4 or higher if income then even comes into consideration? How is CR in that aspect?
I like how Boynton structured an annuity just a la minima.
Sorry I won't get involved in an on-line spat if I can avoid it.
If I were to do things over again, I would consider splitting my time between Colombia, Costa Rica, and Mexico (Puebla or Cuernavaca). Colombia has the 180-tax issue plus a higher 19% VAT on everything, income tax of 33% starts around $3,000 a year, rises to 39% on $22,000 and is figured on global income. Costa Rica has a 13% VAT with many exceptions, Mexico has a 16% VAT but allows you to 'temporarily import' items such as a car, furniture, household goods without tax. It is also by far the easiest of the three to get residency.
I predict that there will be an anti-AirBNB and anti-Uber movement in these countries, but that might take a few years to really come into effect. These companies take a pretty good chunk of wealth out of the countries and governments will look for ways to regulate/stop it. I think it will take 3 to 5 years for those regulations to happen. I would NOT invest money for the sake of a visa.