About

Tropical Retirement Solution

Factors in Retiring to SE Asia

Our Practical knowledge

Our team has for many years advised Worldwide expatriates throughout SE Asia and beyond, on the many financial and non-financial issues that you will face should you choose to retire here.

Why should you adhere to the recommendations in the report?

Its better to pre plan and implement our advice before making major life and financial decisions that may have a huge positive / negative effect on your overall position.
We also utilize proven local experts to ensure that the advice you receive is as current and legitimate as possible, before making your long term plan. The plan may well need to ensure your long term comfort and security for the rest of your life in Asia or back in your home country.

This report is tailor made for YOU.

It is essential you are as transparent and open as possible in providing us your details and answers. This Personal and Financial information will remain confidential between TRS and yourself. It will NEVER be sold or disclosed to any other entity.

The report will be divided into financial and non-financial issues. Some of the questions may not be pertinent to your situation but please be as candid as possible in your answers. This will enable us to avoid any potential issues or obstacles along the way.

Financial Aspects To Consider

A detailed answer to provide information about your business, build trust with potential clients, and help convince the visitor that you are a good fit for them.

Taxation penalties In your home countries can be draconian for non – compliance. What are the penalties for non-compliance? Where is the central management and control of the SMSF based?

Does your fund allow non-resident members? What are your options?
Will insurance within the fund remain valid if living overseas? What are your options?

Can you live overseas and receive your home country’s Age Pension?
Eligibility to receive your country’s Age Pension (age, time living in your home country, income and assets test, other requirements).
When and how do I need to apply?
Do I receive my full entitlement? This will vary from country to country, though the EU may show some uniformity.
What effects will my assets in my home country affect my income, tax and visa in my new country of residence?

Death / Total and Permanent Disability (TPD) / Income Protection / Critical Illness —as a non- resident in your home country, are your existing policies still valid?

There are a raft of stipulations and requirements that may need to be adhered to in your new country of residence. Health care in SE Asia is rapidly improving all the time and many local health workers are employed in Developed countries Health Systems. The Philippines and Thailand are stand out examples of the excellent vocational training systems.

As a citizen of your home country will you lose access to the government system? Strategies and benefits to retain or renew access to your home country’s system.

Can I choose to retain my ‘Home’ Country tax residency if I live overseas?
How does tax residency impact on your income, family home, super, any foreign income, other investments?

After 20+ years living in SE Asia, surviving and thriving. A clear plan must be implemented from the start. Especially during the current upheavals and dysfunctions in the world economy. The future may well be worse in financial terms than currently, but I do know that the people in SE Asia have survived kmuch worse than we are experiencing and always come through stronger. I cannot think of a better place to be living if the economy is tight. Asian people always find a way.

What decisions do you make with your existing property in your Home Country? — do you Sell, Rent — what tax and pension effects will it have?
In your new country of residence do you lease short / medium / longer term vs purchase. Will you be allowed to own property, either land or condo setup?

Other Non – Financial Aspects

What is the level and quality of health services in your intended country? Some SE Asia countries have an excellent and affordable health system, some are good, a few are not so good, but you will always find a high quality private health establishment that caters to the expat and rich local community. If you have a good private health insurance scheme, then there should be no problems accessing those outlets. The level of cover you have is a decision entirely in the hands of you and your family.

TRS can organize any services to ensure a smooth and hassle free transition to your country of choice. Most items of furniture and household items are readily available in SE Asia and of a good quality, suited to the climate and conditions, so we suggest leaving / selling larger items at home. Importing cars can be difficult depending on the country and also remember most SE Asian countries drive on the left hand side of the road with the exception of the Philippines. Motor bikes are cheap and readily available for short trips around your locality, going to shops / errands / etc. The weather is usually great for letting the wind blow through your hair.
Golf, Tennis and other non – contact sports are widely practiced and very affordable. Fishing depends on your location but there are bountiful rivers, lakes and of course the sea to hone up your skills. Seafood is a large part of Asian cuisine. Hiking or just strolling around your new resort will be comfortable and invigorating for body and soul.
HEALTHY EATING AND LIVING. Organic foods and the growing thereof are very important to our mission at TRS to help our retirees enjoy a long and healthy retirement. We encourage residents to grow their own vegetables and fruits in the abundant soil and tropical climate. Rice will provide four harvests a year and most vegetables at least two harvests. Lettuce and the like are not suited to the humid climate in the lower altitudes but can be grown in hilly or mountainous regions.

All the above concerns must be arranged and agreed to by yourself and your family before embarking into your new life. Complications that may not be foreseen could become major issues and problems. TRS will require some form of direction and instructions before joining our communities, to ensure the right decisions are made by the right people at the right times.

A detailed answer to provide information about your business, build trust with potential clients, and help convince the visitor that you are a good fit for them.

Summary

TRS will ensure that your retirement is as comfortable and stress free as possible, with factors WITHIN OUR CONTROL. We require that YOU as the retiree will fulfill your own due diligence and planning for the factors OUTSIDE OUR CONTROL. In our experience, living in South East Asia is far beneficial to Western Societies, mainly due to the warmth of the climate and the PEOPLE. If the retiree comes with an open mind and a positive attitude, the lifestyle will be wonderful and rewarding. LIFE IS WHAT YOU MAKE IT.
Should you wish to go ahead to the next step of the process. TRS will need more information from you regarding a number of issues. We will provide a questionnaire with room for your thoughts and input. TRS will then collate a report with our informed analysis and suggestions. Our team has an enormous amount of experience and local knowledge to ensure you are provided with the best available outcomes to fit your retirement budget. This report cost will vary depending on the complexity and requirements of each individual case. Rest assured, we will strive for the very best outcomes and satisfaction of every one of our clients.
Please start your journey by email: paradise@tropicalretirementsolutions.com