Wednesday, October 2, 2013

Countries You Can (cheaply) Buy Your Way Into

Retire in Bangkok!
Photo by Mike Behnken
A few days ago I posted about countries that will let you live there if you show a modest income from abroad. I got curious and asked Reddit's /r/IWantOut community for more information. While many of the suggestions were unsourced, some provided references and they're awesome. Got $20,000 US? Are you 35 years old or older? Retire in the Phillipines via the SRRV program.  Hell, my wife and I could cash out our brand-new business and probably survive quite nicely in the Phillipines. (My wife would kill me for suggesting this, though).

Or maybe Thailand tickles your fancy. You can retired there on a roughly $1,500 a month income, though a large enough deposit in a bank around will get around this. Thai salaries appear to range around 300 to 800 a month, on average, so you could definitely survive on this, but everything I read suggests you'll need a minimum of $1,000 a month or more to get by.

Is Ecuador more interesting? They have a variety of visas, including a pensioner's visa requiring a minimum income of $800 a month.

Malaysia's My Second Home program was also mentioned. I've written about it before. If you have around $150,000 in the bank and can show roughly a $3,000 a month income, you can move there.

The jungle in Ometepe, Nicaragua
Photo by Thomas Frost Jensen
A mere $600 a month will let you retire in Nicaragua. The minimum retirement age is 45, but Nicaragua will waive that requirement if you can show a stable income. And assuming that income is from outside of Nicaragua, it's also tax free.

I also tried to find decent information about African countries, but as usual, it eludes me (other than a $1 million investment visa for South Africa). Still, for those looking for adventure and can figure out a remote income, you have many, many options. Obviously, some will be more "adventurous" than others, such as in Thailand, a beautiful country that can't quite shake the coup rumors, but if you're willing to accept a little risk, there's a lot of reward, too. I've a great life here in France that I wouldn't trade for anything, but were I single and not a father, I think I'd become a nomad and start exploring these places. It's a big world out there.