Can I retire in the Virgin Islands?
Can I retire in the Virgin Islands? The Virgin Islands, located in the Caribbean Sea, are a popular retirement destination for many Americans seeking a tropical and relaxed environment with access to outdoor activities, stunning beaches, and a welcoming culture.
Can anyone live in the US Virgin Islands?
If you are an American citizen, you need NO EXTRA paperwork to visit, live in or work in the US Virgin Islands!
Is the Caribbean a good place to retire?
The Caribbean offers a sunny oasis for retirees. With the laid-back lifestyle, affordable healthcare, and tax incentives, retirees are drawn to the Caribbean islands.
Do US Virgin Islands pay taxes?
USVI Tax System The US Congress has granted USVI the authority to allow a lowered tax rate to bona fide residents of the USVI. Any income related to a USVI business is also taxed at a lower rate. Bona fide USVI residents pay taxes to the Virgin Islands Bureau of Internal Revenue (BIR) instead of the IRS.
Can you just move to the U.S. Virgin Islands?
While you don't lose your US citizenship when you move to the USVI, you need to have proper documentation, including a VI driver's license. You can sort that out at the Virgin Islands Bureau of Motor Vehicles.
Why are people leaving the Virgin Islands?
First of all, it is not because of political instability or because the Virgin Islands is a war-torn zone; rather, it is because of these unfortunate factors: lack of employment and low salaries, and, sadly for an island under the canopy of democracy, opposition political groupings.
Where is the safest place to live in the Virgin Islands?
St John has the lowest violent crime rate in the US Virgin Islands. Many villas on St John have a safe or places for valuables. Talk to your villa owner or management company.
Can I afford to live in the U.S. Virgin Islands?
The cost of living in the U.S. Virgin Islands is higher than on the U.S. mainland. On average, apartments cost $2,000 per month. A two-bedroom house costs at least $285,000. Not everyone can afford health care on the U.S. Virgin Islands.
Can you live on $2000 a month in Puerto Rico?
Cost of Retiring in Puerto Rico Total monthly expenses should typically be about four times your monthly rent, so you can expect to retire comfortably in Puerto Rico on about $2,000 per month. Even the more expensive parts of the island are still less expensive than most major U.S. cities.
What is the safest island to retire in the Caribbean?
Some of the safest islands to venture to in the Caribbean include Antigua and Barbuda, Anguilla, The British Virgin Islands, the Cayman Islands, Martinique, Montserrat, and St Barts.
Where to avoid in Caribbean?
The most dangerous Caribbean islands. On the basis of crime rates, some of the least safe Caribbean Islands to visit include Puerto Rico, Haiti, Trinidad and Tobago. As we noted though, most crime in the Caribbean is an internal problem and is linked to inner-city areas well away from tourist resorts.
Where is the cheapest tropical place to retire?
Dominican Republic, Belize (the only English-speaking country in Central America), Costa Rica, and Panama are a few of the most affordable islands to live on and double up as top destinations to visit.