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Thread: Retirement in Aruba

  1. #21
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    I am confused. if you want to live in aruba, you have to have a savings acct of $53,000 that you can not touch ever due to the fact you must show it every year?? Are they afraid you might apply for some old age benefits or something? In a way I applaud them for caring about taking care of their own citizens needs first and I realize nothing is as lenient OR ridiculous as this country but that's really wild. or am i missing a point or two.

  2. #22
    Aruba since 1979
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    welcome to the forum "rustic".
    i think it is terrific that an older teen would be so helpful and outgoing.

    thank you.

    please if you can, and when you have the time, check out other threads and make responses. i am very interested in hearing a young person's perspective and opinions.

    most of us here are over 21. i myself am a mere child (not) and have celebrated my 21st birthday over 30 times

    welcome aboard rustic and post often.


    Quote Originally Posted by rustic View Post
    Also like i said before in one of my previous posts, If you still need help with finding a good place to live i have an uncle that has his own real estate company if you need i can get you his info so you could contact him. I'm sure he could find you a place according to your taste and with a monthly pay that fits well to your budget.

  3. #23
    Senior Member Arubalisa's Avatar
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    Quote Originally Posted by gaby View Post
    I am confused. if you want to live in aruba, you have to have a savings acct of $53,000 that you can not touch ever due to the fact you must show it every year??
    http://www.arubachamber.com/relocation.htm

    "Permanent Residence Permit
    ...bank references indicating that the applicant is financially self-supporting or any other proof that he will not become a financial burden to the local government or community;"

  4. #24
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    i don't disagree with their policy, i can understand it. sometimes i wish we did that, too.

    so if you wanted to move there, you just don't buy a house and go. you basically need to be interviewed to see if you're worthy, make sure you have enough money. i'm not talking about working, i'm talking of retiring there. i guess i thought you just go, buy a house or something and move (like on House Hunters International, lol). apparently that show leaves out a few things.......

  5. #25
    Aruba since 1979
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    i have been told (and i do not know if it is true or not) that one must post X amount of dollars in a non interest bearing escrow acct..........that money is held and in the event the owner of the money needs to be "deported", he/she pays their own deportation fees. ;-)



    from the site that lisa provided
    "Permanent Residence Permit
    When requesting a residence permit without a working permit, one must submit:

    1 bank references indicating that the applicant is financially self-supporting or any other proof that he will not become a financial burden to the local government or community;
    2 the home and business addresses for the last ten years;
    3 the reasons for wanting to reside in Aruba, and
    4 a certificate of police clearance (“good conduct” document), not older than 2 months.

  6. #26
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    and here all you have to do is walk in, legally or illegally, and get health benefits, social security and send your kid to college for free and not have a dime to your name.

    so according to #1 on that list, if you came and lived there with some money but then you went broke, they can kick you out????

    that just goes to show my ignorance, i guess. they certainly take care of their own, which is a good thing for those that live there, contributed to their future and want to be sure to be provided with it. good for them!!!!!!!

  7. #27
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    Some of the documents have to have apostle, Bith cert, marriage lic,. Permit will take several months and approx. 3-5 months. You only need permit if living on island full time or I believe for someone from the states more than 6 months. Need to renew permit every year with proof of income and if you have dutch passport after 5th permit you do not need to renew and have the rights of aruban when purchasing business and directorship etc,, If from United States it will take 10 years to obtain full residency and do not have to renew. All paperwork is in dutch and my opinion the best thing to do is to hire someone reliable to help with at least 1st permit which will cost and vary from 100 to 400 pp. Also like Andrea stated you will have money placed in escrow and maybe 1500 florin that government holds until you reach final permit in case you are ordered off island. Remember also retirement permit does not allow you to work on island but you will still have to pay income taxes yearly on income that you used to self support yourself on the island.

  8. #28
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    i'm already retired, early retirement but my husband needs 7 more years. then i tell him we are going to find a nice island to move to. sell the house and go. i guess i never realized these things and of course I don't know where I would want to move to. I just know I want out of this state (NJ). though i'm not sure that's going to be possible. NJ either does or is planning to tax you if you sell your house & move out of here (sort of nj's idea of a departure tax). And also if you receive a pension from working for the state (which I do), and move out of NJ, they'll tax you again for living elsewhere. Its like the "Hotel California". You can check out but you can never leave.......They don't want you spending your money elsewhere, which I'm not sure is legal to do.

    anyway, who knows. i do know i haven't found an island yet i want to live in permanently. few more weeks, first time in aruba.

  9. #29
    Senior Member Arubalisa's Avatar
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    Quote Originally Posted by gaby View Post
    NJ either does or is planning to tax you if you sell your house & move out of here (sort of nj's idea of a departure tax).
    Are you referring to the "3.8 percent tax on the net investment income of high-income persons"? If so, that is not a NJ "thing" that is a federal tax.

    Before moving out of state, dh and I were both residents of NJ for 38 years. Keep in mind there are a number of places where you can move to within the US, where your cost of living will be drastically reduced.

    I can attest to the fact that living outside of NJ, is in many cases much cheaper. Our real estate taxes in Indiana were about 3/4 of what they were in NJ. Our money also bought much more house.

    Now in Georgia, our money buys double the amount of home vs NJ and real estate taxes are 50% less than what we were paying 10 years ago in Jersey.

    Georgia's senior citizens are exempt from income tax on retirement income. In addition, for seniors, counties exempt the school portion of real estate taxes by varying percentages (by county).

    If you are looking to get away from the high cost of living, I am not an expert on Aruba, but the cost of food and utilities alone is much much more than in the states. I highly doubt it would be a way to live cheaper in retirement.

  10. #30
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    no, the tax thing if you move out of nj is a nj thing Gov. Christie is proposing. I wasn't looking to move somewhere just for it to be cheaper, that's not the main concern. its getting out of nj. of course now is not the right yardstick for anything in this country but when i see what $400,000 gets you where my friend lives in Vegas and what $400,000 gets you here in NJ, I have to laugh. Then you add the property taxes. You know its bad when someone has to pay $8500 property tax and THINKS that's cheap. on my block, the average property tax is about $9,000 and these are not big houses, not by anyone's standards. they are all very very average houses built in the 50's. so if i have to pay this kind of money to live in this state, with this weather, being run by the most incompetent people that have ever been created. I mean whenever you look at a list of states, NJ is usually in the top 3 for most expensive, top 3 for the most corrupt. so anywhere else has got to be better, even if for nothing else but the weather.....

    no, i'm talking quality of life. I always tell the kids, i intend to spend every dime i have and if there's anything left, they can have it. i'm not saving my money so i can leave it to them, lol.....

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