Tips for Canadians retiring in Florida
So, you want some of that warm weather and perfect sunsets for your retirement? We understand you. Who wouldn’t like to enjoy a couple hundred days in the sun, especially if you’re coming from Canada? Yes, the weather is great, communities also excellent, but what about the healthcare and insurance? If you have your mind set and are planning to retire in Florida, you need to obtain as much information as possible. One should think about the tax, the homesickness and many more things abroad. Thus, you should be well-prepared, that is why below you may find more tips for Canadians retiring in Florida. You should check if you have all the documents necessary before enjoying all those Florida beaches. So, let’s check what you need to know.
The famous checklist
Before thinking about how to pick the right company to help you move to the USA, you need to have a strategy. You don’t want to end up with several documents missing or signing a bad contract because you’re in a hurry. So, start small. In a couple of years, you will be retiring, think about buying a house or renting it. Talk to your significant other and share ideas on the subject. Maybe your partner would not like to retire there where you want, yet, you already did arrange everything.
The point is to be on the same page and to check what the priorities are. Once you have that, start thinking about the details. What is the most suitable location? Most likely some of your friends went there or they are planning to go. If they have more info, ask them to shed some light on the subject.
Besides other things, you want to know how much does it cost to move abroad. Of course, this will depend on the mean you would like to move to Florida. As well, how many things would you like to take with you? So, there is no specific answer since every relocation is (or at least should be) custom-made. But, there are some general rules you need to know. First of all, you are not the first Canadian couple wanting to retire in Florida, or a couple at all. If you travel a lot, then you already know this. If you’re a newbie, you should know that there are more than 3 million people in Florida 65 years old or more. Of course, they are not all Americans, so chances are that you will get more than enough tips for Canadians retiring in Florida.
Tips for Canadians retiring in Florida-183 days a year maximum stay outside Canada
So, you already created the sheet file with everything you need to do before the trip. You decided by which mean you want to do it, which price suits you best, what you want to take with you etc. Now, let’s get down to business and more numbers. As a Canadian, you can stay 183 days outside of the country and still get the public healthcare. Since there are many Canadians that are visiting Florida, they came up with an idea to have an association where they can help each other.
The name is Canadian Snowbird Association. Here you can find various tips for Canadians retiring in Florida, from currency exchange to tax form worries. Because if you do stay more than 183 days in the USA, you have to pay taxes. In order to avoid that, you need to fill out the Closer Connection Exemption Statement for Aliens.
Of course, prepare yourself for some paperwork and information such as-The jurisdiction in which you hold a driver’s license. You will be asked about your personal belongings, such as cars, furniture, clothing, and jewelry. There are more financial tips for Canadians retiring in Florida. If you plan to have a bank account in the US that earns deposit, then you should fill out Certificate of Foreign Status with your financial institution. Why?
In order to avoid getting the 30% of your deposits withheld by the IRS. We told you, and what about dual citizenship? That is why you must start in advance and complete that checklist we mentioned. The law might even change in the meantime, that’s why you should be informed. We hope that the taxation in Florida is not going to be different.
Additional tips for Canadians retiring in Florida
As you can see, it’s not all about the sunny weather and questions how to avoid moving scams. There’s more into it. That is exactly why we wanted to provide you with more detailed forms besides the standard destinations in Florida. You already know that The Villages lurk a lot of people to retire here. Actually, more than 53% of the population is retirees. So, you won’t be alone and there are more than 2000 activities for you.
There are still a few things to know before your Florida move. If you’re into outdoor activities, check the Ormond Beach. Water activities and hiking trails are waiting for you. Fort Myers is the spot where Thomas Edison and Henry Ford chose to continue working. Is it maybe because the state of Florida doesn’t have a state income tax, inheritance tax or estate tax? Now, you do the math. It’s all about good preparation.
Yes, the grandchildren and the loved ones. One of the tips for Canadians retiring in Florida is to prepare themselves for the nostalgic moments. For the special family moments, dinners and many more things you are going to miss. Your family will visit you, of course, but for some, it can still be hard.
So, have this in mind as well. Enjoy the opportunities that you are going to have in Florida, make friends and take nice pictures. Yeah, prepare your camera for the breathtaking scenery. So, you have a plan, now, think about the weather, the peace, and delicious food. Now, realize that plan. Have fun!