info needed......

[dannib]

I nedd some info if you kind people don't mind!!

My parent would like to move to florida, but don't know if it is possible.

Is it possible to retire to there, and not work??

If not, what is the maximum amount of time they can spend there, and how often??

I've tried different web sites and can never come up with the info.

Thanks

[chrisj]

I dont think you can retire, A neighbour of mine would be there tomorrow if he could. Someone
here should be able to answer your query

[chrizzy100]

quote:Originally posted by dannib

I nedd some info if you kind people don't mind!!

My parent would like to move to florida, but don't know if it is possible.

Is it possible to retire to there, and not work??

If not, what is the maximum amount of time they can spend there, and how often??

I've tried different web sites and can never come up with the info.

Thanks


You can't retire here unless you have close family....parent.. son daughter...who live here already.....I think someone said you can stay for up to 4 months.....

[blott]

I think it's six months in every twelve months but only if you have a B2 visa and it's up to the Immigration guy on the day of your arrival.

[fiona]

It is 6 months in any 12. But you also need to look at the tax implications as someone has posted about paying US tax if you are there more than 4 months as IRS then regard you as US citizen - but not enough to let you live there!! Anyone know different?

[esprit]

If you were retired, you wouldnt be earning any money in the US to pay tax on though, Fiona!! One thing you cannot do on a B2 is any sort of work. I think only green card holders pay US tax on money earned abroad ( ie not in the US) as they have to pay US tax on their wideworld income. This doesnt apply to visa holders. Well there had to be some advantages!!

PS They tried to bring in a retirees visa about four years ago but though it gained support in Florida and California, it was eschewed by the Northern States who would have gained no real advantage from it as no-one really retires there and hence did not have enough support to get through congress. The congressman who was pushing the bill is no longer in congress so most people in the know think that this is now as dead as a dodo.

[steph_goodrum]

I think what Fiona was referring to Julie is that it was brought up by somebody the other day that if you spend more than a certain amount of time, over 3 years then you are subject to having to declare yur UK income to US tax authorities and if you have a large pension you could end up paying tax. It seems like you would have to spend quite a lot of time there for it to apply it includes the no of days you are there in the financial year (if it's over a certain amount) then a percentage of the preceding year and a lower percentage of the year before that. The exact figure is quoted somewhere.

[florida4sun]

Yep, if you are resident in the USA for 180 days in the last 3 years your worldwide income is taxable in the USA. That said there is a neat loop hole in which you can pass the money through a certain offshore island and get only 5% taxation. You have to be very careful doing this, a good accountant is highly recommended.
I just could not see a retiring here from another being doing. It would be near impossible to get health care and I garantee that any retirement visa would have health as a stipulation of entering the country.

Martin


quote:Originally posted by steph_goodrum

I think what Fiona was referring to Julie is that it was brought up by somebody the other day that if you spend more than a certain amount of time, over 3 years then you are subject to having to declare yur UK income to US tax authorities and if you have a large pension you could end up paying tax. It seems like you would have to spend quite a lot of time there for it to apply it includes the no of days you are there in the financial year (if it's over a certain amount) then a percentage of the preceding year and a lower percentage of the year before that. The exact figure is quoted somewhere.