Retirement abroad: How Millions of Americans Are Retiring Abroad

In return for committing a specific sum as an investment, CBIs grant citizenship and all its attendant rights, as well as a new passport. The most popular are the CBIs of the Caribbean island states, particularly Grenada and Antigua & Barbuda, along with Dominica, St. Kitts & Nevis and St. Lucia, in Europe there are Montenegro and Turkey; and, in the Pacific, the island of Vanuatu.

None of the Caribbean CBIs levy taxes on foreign income, nor do they have wealth or inheritance taxes, making them a viable alternative for tax optimization. In terms of travel and mobility, the five Caribbean nations all offer visa-free or visa-on-arrival entry to over 150 countries, with Grenada and Antigua & Barbuda having especially attractive passports. As well as gaining citizenship rights, including rights to healthcare, education, and social benefits, they also have relatively fast processing times (typically 6 to 8 months).

Someone considering a CBI, or an RBI program should look at their personal objectives first and then compare those to the characteristics of each national policy.

As an illustration, each of the above CBIs can be considered relatively more affordable than most RBIs, yet the positive features may be more substantial. Residence requirements are very limited or non-existent with these Caribbean approaches. Whether the goal is permanent residence or simply having an insurance policy in an ever-changing world, a CBI may better meet your needs.

In addition to the above RBI, CBI, and CBA programs, there are a small number of other unique possibilities. Each are individual, general comments are often impracticable. However, the Thailand Elite program provides one good example.

This is a long-term visa allowing the applicant residency in Thailand (View the programme) for 5 to 20 years, with membership costing from USD 16,600 to USD 54,900.

The visa is automatically renewed annually, and recipients get a series of benefits. For instance, they receive fast track immigration entry, a complimentary VIP limousine to and from the airport, special access to open a Thai bank account or obtain a driver’s license, and a concierge to help with any government or administrative applications. There are also commercial bonuses, from discounts at various golf clubs, shops, and spas to other lifestyle rewards.

Applying for the Thailand Elite Visa (See the programme) is usually very swift, taking approximately four weeks. Compared to most retirement visas, the process is simpler, requiring only a passport, a completed application form, and a photograph.

Each of the programs outlined above has its own requirements and intricacies. As Jean-François Harvey, Founder and Worldwide Managing Partner of Harvey Law Group (HLG) points out, “The subject is potentially quite complex. We would suggest seeking professional advice if you need help to navigate through it.”

In the United States, immigration-related advice is reserved for lawyers. Harvey Law Group (HLG) has more than 30 years’ experience in the immigration field and over 20 offices worldwide. Unlike agents or non-authorized firms, HLG is a professional immigration law firm and, as such, has an obligation to advise you on the best options and on the programs most suited to your goals.