In part one of this series, we discussed the initial steps involved in choosing the perfect country for your Caribbean retirement. After working through those steps, you should have a short-list of three or four countries. Now, it’s time to explore these countries in greater detail to see which are the best options for you. Get as much information as you can about the following topics:

Different areas and regions of the country

Does a busy urban lifestyle appeal to you? Find out about a few of the cities and towns. If living at the beach is more your style, look into the popular beach communities. Perhaps you prefer the peace and quiet of a forest or mountain setting. Check out the rural areas. In short, see if the country offers the lifestyle you desire.

Real estate market

Keeping your price range in mind, do a little house hunting online. Find out the cost of housing in the areas of the country that interest you most. This step will take some time and effort, but it will really help you focus on your best options. You may even find your dream home in the process!

Residency and visas

Dealing with bureaucracy is never fun, but this important step cannot be overlooked. If you want to stay in the Caribbean year round, contact the country’s embassy or consulate to make sure that you meet the residency requirements. If you prefer to stay in your new home only part of the year, find out the rules for extended stays.

Taxes

Many Caribbean countries offer the benefit of low taxes or are even tax havens. Other countries in the region, on the other hand, have surprisingly high tax rates. This is an extremely important factor to consider when choosing a country. Specifically, if you are planning to live in your new Caribbean home year-round, find out about income tax, capital gains tax and other taxes for residents. If you are hoping to rent out your new home for part of the year, get information on the taxes and fees involved.

Working and starting a business

If your dream of retiring in the Caribbean includes continuing to work or starting a new business, you need to learn about the rules and requirements. The country’s embassy or consulate should be able to provide detailed information. However, if you have any trouble getting the answers you need, try contacting an attorney who works in the country and specializes in business.

Gathering this information will take some time, but it will be well worth the effort. Knowing these essential details will help you make an informed decision on the perfect Caribbean country for your retirement. It will also save you time in the long run since it will help you rule out unsuitable countries and focus on realistic options.