Top 8 Reasons to Consider Moving or Retiring to Belize
Belize’s Superior Location
Belize is an area of only 8,866 square miles. Belize is bordered by Mexico to the north and Guatemala to the west and south. Belize City is located less than 2 hours from the United States, namely, Miami.
Stability in Belize
Belize is an independent country with a democratic parliamentary government elected by the citizens. A member of the British Commonwealth, Belize’s legal system is based on British common law.
Belize Offers Attractive Taxation Incentives
There are no capital gains or inheritance taxes in Belize. There is also a very attractive Belize Retired Person’s Incentive Program which states that “all persons who have been designated a Qualified Retired Person shall be entitled, on first entering Belize, to import his or her personal effects and an approved means of transportation free of all import duties and taxes. A Qualified Retired Person shall be exempt from the payment of all taxes and duties on all income or receipts which accrue to him or her from a source outside of Belize whether that income is generated from work performed or from an investment.”
Belize Real Estate Prices
There is no such thing as a price for a foreigner and a price for a Belizean. All prices quoted on a property listing is the price that will be applied to anyone.
English is the official language of Belize and is widely spoken. Spanish, Creole, Maya and Garifuna are also spoken in different areas of Belize.
Belizean Laws Fair to Foreigners
Foreigners purchasing land or property in Belize are afforded the same rights as Belizeans regarding freehold property ownership. When purchasing property in Belize, you pay a one-time stamp duty fee to the Government of Belize which is 5% of purchase price ( the first US$10,000 is exempt).
Stable Exchange Rate
Local currency is the Belize Dollar or $BZD. One US dollar is equivalent to $2 BZD. Banks in Belize include, Atlantic Bank, Belize Bank, First Caribbean, Heritage Bank and Scotia Bank.
The population of Belize is approximately 312,698 which comprises of Creole (African-European), Garifuna, Mestizo (Spanish-Indian), Maya, British, North Americans, Mennonite, Lebanese, Chinese, East Indian, Latinos and Europeans. There is racial harmony allowing all of these different cultures to blend in successfully.