Living and Retiring Abroad: How about Nova Scotia, Dominica, Panama or Cuba?

January 23, 2006C$47,000.
Living and Retiring Abroad: How about Nova Scotia,5. Please give us a brief overview about living,
Dominica, Panama or Cuba?travelling and investing in Panama. What makes this a
Many of us dream of relocating to another country,desirable place and what do we need to know about
perhaps to enjoy warmer weather, perhaps toit?
experience a slower-paced lifestyle, perhaps becausePanama's coast, both on the Caribbean and Pacific
of a job transfer, or maybe simply because we aresides, is like Florida, but less crowded and with
intrigued by a certain element of adventure andproperty prices about a tenth of the cost in many
curiosity.cases. Panama offers affordable real estate, a warm
While moving to another country may sound like anclimate and great beaches. In order to attract
exciting proposition, it is a very serious decision withexpatriates, the Panamanian government has put
major ramificiations, and there are many factors totogether an impressive list of benefits in their
take into account in making this decision.pensionado program, including 20-year tax-free status
I had a chance to talk with Phillip Townsend, authorand discounts on everything from public
of the e-Book, Passport to Canada: The Completetransportation to restaurants to doctor's visits. Best
Guide to Living & Retiring in Nova Scotia, and specialof all, anyone over 18 can qualify for these
e-Reports of living and retiring in Panama, the"retirement" benefits.
Caribbean and Cuba. For more information, visit:Though Spanish is the official language, English is
1. Please tell us about yourself and your background.widely spoken and understood in major cities. Right
As an American who had a teenage fascination withnow, the three best places to purchase real estate in
Asian culture, after high school, I got a part-time job,Panama are Panama City, the capital which boasts
saved my money and purchased a one-way ticket toFirst-world infrastructure and is home to virtually
Taiwan, Republic of China. After arriving in the Farevery large American brand-name chain; Boquette, a
East, I taught English and eventually landed anscenic and growing expatriate hideaway in Panama's
internship with SIDA, a German-based global riskmountainous region; and the Pearl Islands, a chain of
consulting firm. After working as an intern andover 90 islands and 130 islets in the Caribbean.
completing an extensive training program, my work6. Please talk to us about living, travelling and
took me to 13 East Asian countries, where I assistedinvesting in Cuba. What makes this unique island an
corporate and government clients with internationalinteresting destination for foreigners thinking of living
research and other consulting projects.or retiring there? What do they need to know about
After returning to the United States, I opened andCuba before considering to move there?
ran the firm's U.S. office until the company went outCuba is home to just over 11 million people, with
of business several years later. Afterwards, mymore than 2 million living in the capital, Havana. The
career shifted and I began writing freelance andisland's Cuba's rich culture, interesting political history,
consulting independently, Later, I was hired asand continued economic hardship make it one of the
stringer (correspondent) for Money magazine,world's most eye-opening nations with a wealth of
America's leading personal finance monthly. Afterplaces just waiting to be discovered. The food,
leaving, I wrote a biweekly international lifestyle Q&Amusic, and, most of all, the warm hospitality of the
column for the International Employment Gazette,Cuban people all combine to make it a great place to
which also appeared monthly in Industrial Tradesmanvisit and potentially live.
magazine. I have assisted the governments of SriU.S. officials say open trade and travel to Cuba would
Lanka and Ethiopia on promoting tourism and tradestrengthen Castro's oppressive government. But
(and was considered for an official diplomatic postcritics argue that the Cold War-era U.S. embargo,
with the latter). My articles and other writings haveaimed at forcing a change in Cuba's leadership, has
appeared in publications as diverse as GQ, the Sannot achieved its goals after being in place for more
Francisco Chronicle and Expat World.than 40 years. Despite the embargo, last year,
Currently, I spend most of my time writing and200,000 Americans visited Cuba (most through
researching. I'm also a Country Contact for AmericanCanada or Mexico).
Citizens Abroad, representing the Switzerland-basedThough most would-be expatriates will wait until the
non-profit organization in Nova Scotia.fall of the Castro-lead communist rule, a few have
I have always been a so-called man of the world,already made an investment in the "forbidden" isle by
and don't believe there is any single "best" country,putting down roots there, with the hope that
but rather believe in reaping the unique benefits thatproperty values and other investments will multiply
each nation has to offer.after the fall of communist rule.
2. You are an expert on living and retiring in various7. Where are you currently travelling and what is on
regions, including Nova Scotia, the Caribbean, Panamayour agenda for the near future?
and Cuba. Please tell us about how you became anCurrently, I'm in upstate New York, but will be
expert on these topics.exploring some interesting locales in South America
In addition to my experience living abroad andand Eastern Europe. I plan to continue my ongoing
traveling widely, over the years, I have dedicated mypursuit of reporting on new and interesting expatriate
life to international living, conducting extensivedestinations around the world.
research and advising hundreds of clients on every8. In general, what are your suggestions for anyone
aspect of moving abroad and strategic planningthinking of living or retiring abroad?
(offshore personal and financial issues). I've assistedMany Canadians and Americans are lured abroad by a
people from all walks of life with moves to overlower cost of living and higher quality of life. Some will
sixty countries and six continents.want to return to their ancestral homes or to places
3. Please tell us about living, retiring, travelling andwhere they once vacationed, worked or studied, and
investing in Nova Scotia. What makes Nova Scotia afell in love with a country. Others will be enticed by
great destination for expatriate or retirement living?retiree perks and tax incentives. With literally dozens
Nova Scotia is the type of place that can seduce youof appealing countries to choose from, narrowing the
through its sheer natural beauty: The long stretchespossibilities can be a daunting task.
of picturesque coastline, a beatiful countryside,No matter where you consider settling, the most
friendly people and a slower pace and reasonableimportant thing is to do your homework. Make an
prices make it one of the most livable places inexploratory visit and stay for a few months before
Canada or anywhere in North America. The climate iscommitting yourself by purchasing property. Be sure
another plus. In many places in Nova Scotia, wintersto talk with locals and expatriates living there. Most
can be much milder (with less snow) than in otherimportantly, consult competent real estate and legal
places in Canada or the northern US. Also, Novaprofessionals before signing any contracts or other
Scotia enjoys a low crime rate, with incidents ofofficial documents.
violent crime being remarkably low. Perhaps the mostWhile every place has it own set of rules and
appealing benefit of living in Nova Scotia are thenuances, the process of buying abroad generally
affordable real estate prices (some lots with oceanworks like this: First, the buyer and the seller to
views can be had for as little as C$20,000).agree on a price, a security deposit (generally, 10 to
4. Please inform us about living, travelling and25 percent) will probably be required to take the
investing in Dominica. What should one know abouthouse off the market. Your attorney should then
living and retiring to this beautiful island in thereceive a copy of the title and verify that the
Caribbean?property is free from any liens or claims against the
With no direct flights from North America or Europe,property. They should also advise you of any strange
Dominica is welcome retreat of peace and quiet inarchaic laws, like those in parts of Canada that allow
the Caribbean's sea of mass tourism. Roughly halfwayanyone to fish on your land, those in England and
between Martinique and Guadeloupe, the island isFrance that allow sheep to pass through your
splendidly underdeveloped. A land of waterfalls, riversproperty, those in rural Italy that give your neighbors
(365 of them), hot springs, and lush rain forests,first-refusal rights on any land used for agricultural
Dominica is the Caribbean's most rugged isle. Insteadpurposes (which could leave someone else with the
of luxury resorts and long stretches of crowdedfruit in the vineyard or olive grove on "your"
white sand beaches, you'll find volcanic mountains,property), or historic construction bans that prevent
intimate beaches, little-explored reefs and small hotelsyou from making any external changes to a property
(some of which are for sale for a steal). Unlike most(even installing a pool). Also, if you are buying
of the Caribbean's islands, which cater to tourists andanything in need of restoration (or more than a
the high-end market, Dominica's prices arehundred years old), have a structural survey done.
refreshingly down-to-earth. For example, you can findThank you, Phillip, for providing us with further ideas
oceanfront lots for prices ranging from C42,000 toand important background information about a few
C58,000, and build a home for as little as C$28,000 tointeresting choices on living and retiring abroad.