No. of Recommendations: 3
<< I'm looking at the Facebook group you recommended and there's so much
there, it's easy to get bogged down. >>
Just take it one step at a time and it will become clear. In particular, the
FILES documents are useful and kept up-to-date.
<< In my circumstance I believe the D8 (digital nomad) visa might be more
appropriate, as I'd probably have to sell some Berkshire stock and put it into a
dividend-payer to meet the passive income requirement :-) But D7 is possible.
Hopefully the timeline would be about the same.>>
If you get to the point of seriously considering moving to another
country you'll want to consult with a local tax accountant who is
familiar with US taxes. There are usually certain things you can
set up whilst still a US resident (before you change residency)
to mitigate your foreign taxes.
<< It's unfortunate to have to take out a lease many months in advance of actually
being able to move in. >>
Yeah, I consider it as a one-time "migration" tax. From the government's
point of view, they don't want to grant a visa to someone who suddenly
becomes homeless once they're arrived here.
<< Some concern for being responsible for an unoccupied property on another
continent. Perhaps there are services that could look in occasionally? >>
If renting an apartment, it's probably not a problem. In my case I paid my
realtor a small fee to pick up my mail and check in periodically with my
apartment until I moved in.
<< I have been under the impression the golden visa also allows €500K in certain
types of investment funds in addition to the donation options - though finding
one that is low risk feels quite challenging. >>
I was somewhat flippant in my earlier response, but the Golden Visa
isn't really practical for your situation. I know people from certain
countries who opted for Golden Visas because: 1) they have a lot
of excess capital; 2) they can't stay in the Portugal long enough
(each year) to meet the residency requirements; 3) they need a bail-out
option if things get too complicated in their home country.
But more than that, I really want to drop the subject of the
Golden Visa. Anyone who pursues that route is going to be paying
fees to people who are more knowledgeable to walk them through
the process, not listening to some random guy on the internet.
Good luck with your research. Hopefully your questions will help
others who may be considering living abroad.
-Rubic
