Originally Posted by vladkri
Plan to to leave this cold place for a while, maybe a long while.
Stay in warm places for years and maybe return one day.
Anyone can share experiences and strategies how to deal with
big things. Such as OHIP will be gone, driver license will be gone, no
Canadian address anymore. Health insurance
, boat insurance
possible before leaving, worth it? I'd rather pay in CAD for these.
How would you access your money? Leave it at a Canadian bank and
transfer some place else?
Pointers to blogs or books are appreciated.
We were out of Canada for seven years - five living onboard in NYC
and five years off cruising. Here are a few thoughts. Keep a Canadian address - a relative or a friend. You can keep your Ontario
license. We rented cars in half a dozen countries without a problem. Health
insurance is a huge concern when you are in the US but not much of a problem elsewhere especially if you are healthy to start. Doctor and even hospital costs in other countries are more reasonable than Canada. We had one major medical
bill in South Africa
($5000) for an operation and five nights in hospital after an accident
(crushed hand). Even there we could have gone to the public hospital and it would have been free (even for a visitor), although the care would not have been as good as in the fancy, private hospital we went to. Saw a doctor at the private hospital in Fiji
and it cost $6 for the Aussie trained doctor.
You can get boat insurance before you leave. You need to decide if you want full coverage, liability, or none. There are a couple of companies that provide worldwide coverage for cruisers. These companies are in the US or Europe
so you pay in those currencies.
When we left the first time we took about $9000 in US currency but found out we did not need to do so and take the risks associated. In many/most countries you
can use credit cards (although their use is not as ubiquitous as here). Cash machines are available basically everywhere. It is a good idea to have a few hundred dollars US to pay for things like customs fees
when you arrive in a country, before you find the machine. Better to have twenties and singles than hundreds since they may not have change and you might end paying $100 for a $25 charge.
Also consider income
tax considerations. You will still need to pay Canadian taxes
on foreign earnings, if any. With tax treaties this may not be a problem but you still need to file.