| Many of us dream of relocating to another country, | | | | travelling and investing in Panama. What makes this a |
| perhaps to enjoy warmer weather, perhaps to | | | | desirable place and what do we need to know about |
| experience a slower-paced lifestyle, perhaps because | | | | it? |
| of a job transfer, or maybe simply because we are | | | | Panama's coast, both on the Caribbean and Pacific |
| intrigued by a certain element of adventure and | | | | sides, is like Florida, but less crowded and with |
| curiosity. | | | | property prices about a tenth of the cost in many |
| While moving to another country may sound like an | | | | cases. Panama offers affordable real estate, a warm |
| exciting proposition, it is a very serious decision with | | | | climate and great beaches. In order to attract |
| major ramificiations, and there are many factors to | | | | expatriates, the Panamanian government has put |
| take into account in making this decision. | | | | together an impressive list of benefits in their |
| I had a chance to talk with Phillip Townsend, author | | | | pensionado program, including 20-year tax-free status |
| of the e-Book, Passport to Canada: The Complete | | | | and discounts on everything from public |
| Guide to Living & Retiring in Nova Scotia, and | | | | transportation to restaurants to doctor's visits. Best |
| special e-Reports of living and retiring in Panama, the | | | | of all, anyone over 18 can qualify for these |
| Caribbean and Cuba. For more information, visit: | | | | "retirement" benefits. |
| 1. Please tell us about yourself and your background. | | | | Though Spanish is the official language, English is |
| As an American who had a teenage fascination with | | | | widely spoken and understood in major cities. Right |
| Asian culture, after high school, I got a part-time job, | | | | now, the three best places to purchase real estate in |
| saved my money and purchased a one-way ticket to | | | | Panama are Panama City, the capital which boasts |
| Taiwan, Republic of China. After arriving in the Far | | | | First-world infrastructure and is home to virtually |
| East, I taught English and eventually landed an | | | | every large American brand-name chain; Boquette, a |
| internship with SIDA, a German-based global risk | | | | scenic and growing expatriate hideaway in Panama's |
| consulting firm. After working as an intern and | | | | mountainous region; and the Pearl Islands, a chain of |
| completing an extensive training program, my work | | | | over 90 islands and 130 islets in the Caribbean. |
| took me to 13 East Asian countries, where I assisted | | | | 6. Please talk to us about living, travelling and |
| corporate and government clients with international | | | | investing in Cuba. What makes this unique island an |
| research and other consulting projects. | | | | interesting destination for foreigners thinking of living |
| After returning to the United States, I opened and | | | | or retiring there? What do they need to know about |
| ran the firm's U.S. office until the company went out | | | | Cuba before considering to move there? |
| of business several years later. Afterwards, my | | | | Cuba is home to just over 11 million people, with |
| career shifted and I began writing freelance and | | | | more than 2 million living in the capital, Havana. The |
| consulting independently, Later, I was hired as | | | | island's Cuba's rich culture, interesting political history, |
| stringer (correspondent) for Money magazine, | | | | and continued economic hardship make it one of the |
| America's leading personal finance monthly. After | | | | world's most eye-opening nations with a wealth of |
| leaving, I wrote a biweekly international lifestyle | | | | places just waiting to be discovered. The food, |
| Q&A column for the International Employment | | | | music, and, most of all, the warm hospitality of the |
| Gazette, which also appeared monthly in Industrial | | | | Cuban people all combine to make it a great place to |
| Tradesman magazine. I have assisted the | | | | visit and potentially live. |
| governments of Sri Lanka and Ethiopia on promoting | | | | U.S. officials say open trade and travel to Cuba would |
| tourism and trade (and was considered for an official | | | | strengthen Castro's oppressive government. But |
| diplomatic post with the latter). My articles and other | | | | critics argue that the Cold War-era U.S. embargo, |
| writings have appeared in publications as diverse as | | | | aimed at forcing a change in Cuba's leadership, has |
| GQ, the San Francisco Chronicle and Expat World. | | | | not achieved its goals after being in place for more |
| Currently, I spend most of my time writing and | | | | than 40 years. Despite the embargo, last year, |
| researching. I'm also a Country Contact for American | | | | 200,000 Americans visited Cuba (most through |
| Citizens Abroad, representing the Switzerland-based | | | | Canada or Mexico). |
| non-profit organization in Nova Scotia. | | | | Though most would-be expatriates will wait until the |
| I have always been a so-called man of the world, | | | | fall of the Castro-lead communist rule, a few have |
| and don't believe there is any single "best" country, | | | | already made an investment in the "forbidden" isle by |
| but rather believe in reaping the unique benefits that | | | | putting down roots there, with the hope that |
| each nation has to offer. | | | | property values and other investments will multiply |
| 2. You are an expert on living and retiring in various | | | | after the fall of communist rule. |
| regions, including Nova Scotia, the Caribbean, Panama | | | | 7. Where are you currently travelling and what is on |
| and Cuba. Please tell us about how you became an | | | | your agenda for the near future? |
| expert on these topics. | | | | Currently, I'm in upstate New York, but will be |
| In addition to my experience living abroad and | | | | exploring some interesting locales in South America |
| traveling widely, over the years, I have dedicated my | | | | and Eastern Europe. I plan to continue my ongoing |
| life to international living, conducting extensive | | | | pursuit of reporting on new and interesting expatriate |
| research and advising hundreds of clients on every | | | | destinations around the world. |
| aspect of moving abroad and strategic planning | | | | 8. In general, what are your suggestions for anyone |
| (offshore personal and financial issues). I've assisted | | | | thinking of living or retiring abroad? |
| people from all walks of life with moves to over | | | | Many Canadians and Americans are lured abroad by a |
| sixty countries and six continents. | | | | lower cost of living and higher quality of life. Some will |
| 3. Please tell us about living, retiring, travelling and | | | | want to return to their ancestral homes or to places |
| investing in Nova Scotia. What makes Nova Scotia a | | | | where they once vacationed, worked or studied, and |
| great destination for expatriate or retirement living? | | | | fell in love with a country. Others will be enticed by |
| Nova Scotia is the type of place that can seduce you | | | | retiree perks and tax incentives. With literally dozens |
| through its sheer natural beauty: The long stretches | | | | of appealing countries to choose from, narrowing the |
| of picturesque coastline, a beatiful countryside, | | | | possibilities can be a daunting task. |
| friendly people and a slower pace and reasonable | | | | No matter where you consider settling, the most |
| prices make it one of the most livable places in | | | | important thing is to do your homework. Make an |
| Canada or anywhere in North America. The climate is | | | | exploratory visit and stay for a few months before |
| another plus. In many places in Nova Scotia, winters | | | | committing yourself by purchasing property. Be sure |
| can be much milder (with less snow) than in other | | | | to talk with locals and expatriates living there. Most |
| places in Canada or the northern US. Also, Nova | | | | importantly, consult competent real estate and legal |
| Scotia enjoys a low crime rate, with incidents of | | | | professionals before signing any contracts or other |
| violent crime being remarkably low. Perhaps the most | | | | official documents. |
| appealing benefit of living in Nova Scotia are the | | | | While every place has it own set of rules and |
| affordable real estate prices (some lots with ocean | | | | nuances, the process of buying abroad generally |
| views can be had for as little as C$20,000). | | | | works like this: First, the buyer and the seller to |
| 4. Please inform us about living, travelling and | | | | agree on a price, a security deposit (generally, 10 to |
| investing in Dominica. What should one know about | | | | 25 percent) will probably be required to take the |
| living and retiring to this beautiful island in the | | | | house off the market. Your attorney should then |
| Caribbean? | | | | receive a copy of the title and verify that the |
| With no direct flights from North America or Europe, | | | | property is free from any liens or claims against the |
| Dominica is welcome retreat of peace and quiet in | | | | property. They should also advise you of any strange |
| the Caribbean's sea of mass tourism. Roughly halfway | | | | archaic laws, like those in parts of Canada that allow |
| between Martinique and Guadeloupe, the island is | | | | anyone to fish on your land, those in England and |
| splendidly underdeveloped. A land of waterfalls, rivers | | | | France that allow sheep to pass through your |
| (365 of them), hot springs, and lush rain forests, | | | | property, those in rural Italy that give your neighbors |
| Dominica is the Caribbean's most rugged isle. Instead | | | | first-refusal rights on any land used for agricultural |
| of luxury resorts and long stretches of crowded | | | | purposes (which could leave someone else with the |
| white sand beaches, you'll find volcanic mountains, | | | | fruit in the vineyard or olive grove on "your" |
| intimate beaches, little-explored reefs and small hotels | | | | property), or historic construction bans that prevent |
| (some of which are for sale for a steal). Unlike most | | | | you from making any external changes to a property |
| of the Caribbean's islands, which cater to tourists and | | | | (even installing a pool). Also, if you are buying |
| the high-end market, Dominica's prices are | | | | anything in need of restoration (or more than a |
| refreshingly down-to-earth. For example, you can find | | | | hundred years old), have a structural survey done. |
| oceanfront lots for prices ranging from C42,000 to | | | | Thank you, Phillip, for providing us with further ideas |
| C58,000, and build a home for as little as C$28,000 to | | | | and important background information about a few |
| C$47,000. | | | | interesting choices on living and retiring abroad. |
| 5. Please give us a brief overview about living, | | | | |