Unlocked iPhone questions that need to be clarified please!

Hi! I have read different questions and responses, however I am still really confused/need more information.
I just purchased an unlocked iPhone 5 (not Verizon branded) from Apple. My contract with Verizon ends mid October. I want to switch to T-mobile ($70.00 per month) so that I can use my new unlocked iPhone with a SIM card. I intend on only being in the US for a year and then I am going back abroad to work. This is why I need to have an unlocked phone. In the long run this will save me money from having to find an unlocked phone wherever I go.
From my understanding Verizon can unlock a Verizon branded iPhone but there are certain requirements. What are they?
I would be able to use this on GSM networks worldwide right?
And is the phone completely unlocked or are there some things that are still locked (like access to LTE)?
I know that Verizon only works on CDMA so if a Verizon iPhone is unlocked then how will it work on GSM?
So my overall question is what is a better deal when I am working abroad: Keeping my factory unlocked iPhone and switching to another network provider or getting a new Verizon branded iPhone and staying with Verizon?
Thanks!

Hi lanarj,
Great questions! Verizon Wireless branded iPhone 5 is already unlocked for international use on GSM networks, simply change the SIM card when your are abroad and your phone should work. LTE technology may have some differences in other countries and we cannot guarantee that it will connect to LTE. Keep in mind that it may only work in our network when in the United States. If you have any issues while abroad please contact our Global Support team http://bit.ly/UAy184 at your convenience. Bon Voyage!
AntonioC_VZWSupport
Follow us on Twitter at www.twitter.com/VZWSupport

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