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Thread: Overwintering Questions?

  1. #1
    Join Date
    Jan 2021
    Posts
    10

    Question Overwintering Questions?

    Hi There! I'm hoping some of you might be able to help shed some light on the concept of "Overwintering" on the beautiful island of Bonaire!?

    My husband and I will be retiring from the grind at the end of this year (Dec 31 2021) and our dream is to start our Retirement journey on Bonaire.

    I've seen some great info on how to apply for "Temporary Residency" - however, we are trying to avoid any type of "Residency" that would see us paying Bonaire Taxes.

    The reason is that our Retirement Income from Canada will be in the form of "Canadian Eligible Dividend Income" which is taxed minimally in Canada -
    Paying Bonaire taxes would see us paying a much higher tax bill on our Retirement Income.
    That being said we don't intend to come to Bonaire permanently and not pay fairly into their tax system - we appreciate and understand if we were coming there permanently we should pay into their Tax System.

    I've heard that "Overwintering" is an option for people coming to Bonaire for "Longer than the normal 90 day allowance" but less than a full year -

    Does anyone have any insights into this option or any other options we don't know about??
    BTW we've contacted Agnes as I've seen her highly recommended on this Forum - just waiting for her reply as well!

    Many thanks in advance from Two Cold Canadians!

  2. #2
    JBODell is offline Bonaire Lover Bonaire Talker
    Join Date
    Apr 2020
    Location
    Cincinnati
    Posts
    26

    Default

    you should be able to get your tax answer here.

    https://zavontax.com/

  3. #3
    Join Date
    Dec 2011
    Location
    Ontario , Canada
    Posts
    128

    Default

    Hi, Does Bruce Zavon also know about Canadian tax issues?

  4. #4
    Join Date
    Feb 2018
    Location
    Calgary, AB, Canada
    Posts
    344

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    We are in the process of getting our first Bonaire Overwinter extension. We were at the immigration office the other day to pick up the English forms, and then talked to another agent on the phone to clear up a question on the required Criminal Records check. The Dutch form says you need an official document, the English form just asks you to state you do not have any criminal records. The latter seems to be what they require, for us at least. No current tax implications, as far as we can tell at this point, as it is a one off extension. It gives you an additional 6 months to hang around in Bonaire from the day the extension is approved. You need to show proof of self financial support, bank statements seem to work. We have a local MCB account that we keep well stocked with cash. Plus we can show other Canada based deposits and investments income if required. The required income amount is just over $20K USD per year. You also need proof of Travel Health Insurance. The cost for the Overwinter extension is $721 USD per person. It all seems fairly simple, I will report back once we go in for the final interview. We arrived on Dec 17th, so by rights we should have to leave on March 17th. We plain to stay until April/May, but that depends a bit on what Covid is doing back in Canada. Todays Bonaire numbers are just 5 Active Covid cases.
    S&E Tanton

  5. #5
    Join Date
    Jan 2021
    Posts
    10

    Default

    Thank you for the reply! Please do update us here when you go for your interview, excited to hear how it goes!
    You mentioned "an additional 6 months from the day the extension is approved" -
    Did you mean 6 months in TOTAL or truly an ADDITIONAL 6 months on top of the regularly allowed 3 months?
    Thank you!!
    Deb

  6. #6
    Join Date
    Feb 2018
    Location
    Calgary, AB, Canada
    Posts
    344

    Default

    We were told by an Immigration employee, during a phone call, it is a 6 month extension. So an extra 6 months from the day the extension is approve. Our 90 Days ends up in mid Mar 2021, we arrived on Bonaire mid Dec 2020. I will post once we do the interview which we hope to get done by the end of Feb, so we could technically stay until sometime in late Aug.
    S&E Tanton

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