Retirement In Belize
More and more people are taking advantage of the world’s most attractive retirement option: Central American retirement in the emerging utopia of Belize. With the perfect combination of Costa Rica and the Caribbean, Belize is attracting the attention of baby boomers ready to invest in their own piece of paradise.
And that paradise isn’t as far as you think. Trace the coast of Belize south to the beautiful Placencia Peninsula. And discover the jewel at the midpoint of this peninsula: The Villas at Cocoplum.
Finding the Perfect Fit
With so much property for sale, how do you find the perfect place to retire in Central America or the Caribbean? Many people stop looking after they discover Belize.
Belize is still an emerging market country in Central America, making it one of the greatest and last unspoiled oases in the world. Prices for retirement in Belize are often many times less than Costa Rica or Turks and Caicos, but are sure not to stay that way. There are many plans for new resorts developments, world class hotels, golf courses and spas in the coming years. And investment is virtually guaranteed to grow.
Benefits of Belize Retirement
The Qualified Retired Persons Incentive Act, passed by the Belize legislature in 1999, is being implemented by the Belize Tourist Board, offering foreign retirees some of the most competitive incentives in the world. The program is designed to attract more retirees to Belize. Anyone at least 45-years-old, from anywhere in the world can qualify for the program and may also include his or her dependents in the program.
Run by the Ministry of Tourism, this unique, Belize retirement program is simple and user-friendly. You can import your car, light aircraft, boat and personal belongings duty-free and add another duty-free car every five years after that. You don’t pay tax on any income sourced outside or inside the region and can direct foreign business activities from within the country.
Considerations for Central America Retirement
If you are considering buying a second home, home site, condominium or villa, you are probably weighing the options of purchasing a resale, new built home or pre-development. And, should you invest in property that is stand alone or included with a Master Planned Development.
The following is a list of factors you should consider when comparing these two options.
- Retirement, Ownership and Tax Laws: be sure that you’re looking at property that gives you full title and fee simple ownership. When retiring in Central America or the Caribbean you should pick a stable government and a friendly culture.
- Long-term Enjoyment: is real estate on a small Caribbean island really going to supply you and your family years of enjoyment or will you find the need to experience the more land oriented attractions and culture that Caribbean islands typically fall short on?
- Safety and Security: Master Planned Communities often offer 24 hour security, which is important when you are buying a second home in a location that you’ll likely visit a few weeks out the year.
- Credibility of the developer: when looking for property in the Caribbean or Central America, it is crucial that you know what is going into the building and quality of construction.
- Location: don’t settle for anything short of paradise. You should be happy with where you purchase for years to come, not wishing you were up the street.
- Rental Program: there is absolutely no reason you shouldn’t recapture some money from a rental program to help offset the expenses of owning a second home. Make sure there is a strong rental program that comes with ownership.
- The Marketplace: buy in an emerging market, not an established market, for the best investment opportunity. Locations all along the Caribbean, Costa Rica and Panama have passed their “great deal” stage. Belize is an example of a perfect candidate with a strong government, English speaking workforce and increasing tourism trend.
- Amenities, Activities and Lifestyles: when looking at retirement locations overseas, be sure that not only the community, resort or development matches what you and your family love to do, but the location is a place you will enjoy for a lifetime.
”Belize is like combining all the beautiful inland traits of Costa Rica—like rainforests, jungles, rivers and zip lines--and mixing them with all the world-class ocean features of a Caribbean Island, but prices that these areas were at over 10 years ago.”
Along the southern cost of Belize, the perfect beach awaits you on a peninsula named Placencia. Because Placencia is connected to the mainland of Belize, it offers both the feeling of island-living and easy access to the amazing mountain and jungle adventures of Belize.