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Belize

Belize
	Capital	Belmopan
	Population	307,899
	Area	22,966 sq km
	Language	English (official), Spanish, other languages
	Currency	Belize, Dollar (BZD)
		1.000000BZ$ (BZD) = 0.510256$ (USD)

The third is the QRP program for retirees. If you are at least 45 years old and can show a $2,000 monthly income or pension then you can qualify for the QRP retiree program, which grants you residency in the country even if you only spend 2 weeks a year in Belize! These three factors combined make Belize one of the easiest and cheapest places in Latin America for expats to retire.

Top 3 Places to Live and Invest

The Corozal District in northern Belize is only nine miles from the Mexican city of Chetmul and expats regularly take advantage of the close border crossing to get better medical care and cheaper prices. Besides the close proximity to Mexico, the Corozal District offers miles of beach and waterfront property on the bays of Chetmul and Corozal. Properties with an ocean view can still be found for less than $35,000 and modern American style homes are being built for between $100-200,000.

The Cayo District located in the center of Belize is home to the capital city of Belmophan, thousands of acres of citrus trees and an abundance of good cheap property.
Cayo offers some of the best exotic bird watching in Latin America, Mayan ruins and several national parks filled with pristine flora and fauna. Small house lots can be bought for as little as $5,000 and recently a 3-bedroom house with pool sold for $75,000.

Ambergris Caye is the largest island in Belize, located in the Caribbean Sea near the top of the Yucatan Peninsula, its claim to fame being the location of the Fox reality TV show, "Temptation Island." San Pedro is the only populated part of the island and caters to the tourism industry, but is hardly over developed. Many expats enjoy the community of other Americans and Europeans that live here as well as the natural beauty and modern conveniences it has to offer. After "Temptation Island" was done filming, the price of real estate shot up, making this island, still cheap by American standards but one of the more expensive locations in Belize. (Think ocean view lots for around $80,000 and beachfront, 1-bedroom condos for $100,000). 

Health and Senior Benefits

Belize’s QRP (Qualified Retired Persons) program is one of the best in the world. There are three requirements to qualify: you must be at least 45, have either an income or pension of $2,000 a month and live in Belize two weeks of the year. Once you have qualified, there are tax exemptions on income tax, capital gains tax, estate tax and import tax on all your possessions. While in the QRP program you cannot get a work visa for Belize, but you may continue with international and Internet business.

Even if you do not plan to retire for another few years, it’s a good idea to start applying for the QRP program and enjoy your annual two week vacation to Belize while cashing in on the benefits of tax reduction and even tax elimination from your income and investments.

In opposition to the great financial incentives in Belize is the stark lack of medical incentives. Health care in Belize is not up to Western medical standards. For the minor injury or illness, any of the private hospitals in Belize will be fine, averaging about $15 a day for hospital stay. For larger surgeries, specialists and more serious illnesses, many expats choose to either go to the closest Mexican town of Chetmul or to Guatemala City, Guatemala where the healthcare infrastructure is more modern.

Safety and Infrastructure

Belize is a developing nation with a developing infrastructure. The roads in the outlying areas are of generally poor quality. The telephone system is above average for Latin America but only half the citizens have cell phones and access to Internet. However, cell phone and Internet use is on the rise and the government has recently invested millions of dollars into paving one of the largest highways in Belize.

One section of Belize that is very well developed is its international private banking sector. In Belizean law it is illegal for Belizean banks to reveal the ownership or content of their offshore accounts to anyone but their owners. The strong banking privacy laws combined with tax exemptions for 20 years (for investing in a free trade zone) make up for the small transportation infrastructure.

As for safety, muggings, thefts and robberies are common in Belize City and rural areas; however, the government has started to combat this problem by putting tourism police on the streets to watch out for these crimes. Just exercise caution when walking at night and do not carry large sums of money or wear expensive jewelry that might tempt the occasional thief.

Culture and People

Much like the United States, Belize is a melting pot of ethnicities, the two most prominent being the Mestizos (people with a combination of Mayan and Spanish heritages) and Creoles (mixture of British settlers and African slaves). The remaining minority of the population is comprised of Chinese, East Indians, Mennonites and Garifuna (a mixed heritage of African slaves, Arawak and Carib Indians). This wide variety of ethnicities means that there is no "average" Belizean as they come in all different shapes, sizes and colors. The many ethnicities blend into one, bringing out the best of human kind in both looks and personality. Belizeans are as a whole a laid back, friendly, fun people who enjoy telling stories and making jokes late into the night.

Average Monthly Budget for a couple in San Pedro, Belize

Rent for a 2-bedroom apartment in a nice part of town: $1250
Daily maid service (Monday-Friday, 8 hours, cook and clean): $400
ADSL Internet: $100
Telephone (1 landline, 2 cell phones): $150
Cable TV: $20
Water: $100 + 80 for bottled water= $180
Electricity: $315
Gas: $50
Private Health Insurance: $300
Food: $400
Transportation (water taxi, twice a month to Belize City): $120
Total: $3,285 per couple, per month

 

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