Leo, let's discuss taxation, retirement, and social rights for long-term immigrants in Guatemala and Honduras.
Sounds... informative. What's the situation in Guatemala?
As a resident, you're generally taxed on income earned within Guatemala. If you're running a business there, only Guatemalan taxes apply.
And retirement?
Guatemala's social security system, IGSS, covers employed residents, but benefits are modest.
Okay. What about Honduras?
Similar tax rules apply in Honduras; income earned within the country is taxed. However, there are tax breaks for retirees.
Tax breaks? Elaborate.
Retirees receive exemptions on import duties for personal belongings and vehicles.
Interesting. What about healthcare and social security in Honduras?
Honduras's IHSS provides healthcare and pensions, but access and quality can vary.
So, not exactly top-notch. Any other retirement perks in Honduras?
Some expats use private pensions or income from abroad. The cost of living is lower than in many Western countries.
Lower cost of living is a plus. So, Guatemala: modest retirement; Honduras: tax breaks, but healthcare may be a concern.
Precisely. Both countries have advantages and disadvantages. Consider your priorities.
Makes sense. Thanks, Mira.