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You need to be careful abot where you settle. Colon is possibly the most dangerous city in the world, and Panama City is somewhat dicey. However, outside the canal area, Panama is quite safe and friendly. Boquete, in the highlands near the Costa Rica border is developing rapidly as a retirement center. Panamain beer is pretty good, too.
Thanks for all the ideas. I looked at the Taxes link and I think I will subscribe to that International living. It will probably help me make a educated decision.
I have good things about Croatia also so it looks like there are many places to consider. I just know I am tired of paying an arm and a leg for taxes so this American is taking my tax money and leaving as soon as I can. Thanks for the ideas
Newsflash: Americans citizens living abroad are still subject to the US tax code.
In order to qualify for the Foreign Earned Income Exclusion a citizen may not be in the US more than 35 days per year. And then the income ceiling is about $80,000 after which taxes could be owed to the US government. Some states also tax their 'residents' living abroad.
An American earning wages in a foreign country and who is eligible for the US Foreign Earned Income Exemption, is often subject to pay income taxes in the country in which the wages were earned. As in America, those taxes are usually deducted from the gross earnings before the employee ever sees the paycheck.
You're going to pay taxes to somebody no matter where you live, as long as you have earned income.
And did you know you can't even renounce your citizenship in order to avoid paying taxes while overseas! Well, you can renounce it but you still pay taxes for something like the next 10 years.
I know all about this situation - I'm not american citizen but my husband is by birth and its incredibly frustrating that uncle same wants to stick his fingers in the pie no matter where we go.
I don't think leaving a country in order to avoid paying taxes is a very good idea. Leaving for other lifestyle or job reasons I do understand because I'm in that situation.
I don't get it logically - because when you live there every around you pays the same taxes you pay so you're no worse off than them? No criticizing - I just don't really get it.
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