In A Hurry To Leave The U.S.? Here Are 3 Countries You Can Move To Today

I took my first trip to Belize nearly 40 years ago and immediately fell in love with it.

Belize has charm and raw, natural beauty that I connected to the minute I landed. It has countless natural riches, including incredible biodiversity.

It also has friendly locals, the official language is English, and it’s an investment, expat, and tax haven.

The Caribbean might not be everyone’s cup of tea, but this country wins many hearts and has become the home of thousands of expats.

If this piece of paradise has caught your eye, these are some things you should know if you want to move to Belize.

Why Is Belize A Hot Retirement Spot?

Belize is a former British colony, which is why its official language is English. Belize is the only English-speaking country in Central America.

North Americans won’t struggle with a language barrier in Belize, so it’s the ideal choice for those who want an overseas adventure but don’t feel up to learning a new language.

Philip S.W. Goldson International Airport has multiple direct flights to the States and Canada. Belize is so close, you can even drive here. A trip to or from Belize is simple, quick, and inexpensive.

Belize has a long Caribbean coastline that sees fewer hurricanes than other destinations in the region. Belizean islands such as Ambergris Caye and Caye Caulker are some of the best options for enjoying laid-back beach living. The sun shines year-round, and you can find beaches, coral reefs, jungles, and rivers.

Ambergris Caye is the most popular spot in the country, with growing numbers of eco-adventurers and nature lovers. Visitors compare this Caribbean haven to St. Barts or St. Kitts, yet it costs a fraction of the price. It’s still an undervalued destination, but its popularity is on the rise.

Even though Ambergris is the most popular tourist retreat in Belize, it’s affordable compared to its Caribbean counterparts. A couple could live well with a monthly budget of about $2,500.

How Many Americans Retire To Belize?

About 9,000 Americans live in Belize. Most Americans live between Ambergris Caye, Placencia, Caye Caulker, and Cayo. These are the most popular areas where expats from around the globe choose to settle because of their vibrant atmosphere, friendly and welcoming community, and natural beauty.

Why Is Belize A Popular Retirement Destination?

Belize is a popular retirement destination because of its warm tropical weather, beautiful landscapes, and friendly locals. It’s an easy place to visit or live because there is no language barrier. Big populations of North Americans, Europeans, and other nationalities are well-established in the country.

The waters surrounding Belize are full of marine life because of the Belize Barrier Reef, the second-largest coral reef system in the world. Outdoor enthusiasts from around the world come to Belize to experience the breathtaking beauty of this natural wonder.

Belize also offers jungle adventures filled with wildlife and historic sites with ruins from the ancient Maya Empire. Belize is home to diverse cultures, and its rich cultural heritage provides a unique and exciting environment.

This country has retirement incentive programs, such as the program hosted by the Belize Tourism Board called the Qualified Retirement Program (QRP). This program encourages people who meet the requirements to live and retire in the country.

Some of the benefits of being part of the program are:

• Ability to reside in Belize long-term
• Import tax and stamp duty exemptions during the first year for items of personal use like household effects and motor vehicles
• Tax exemptions on all income earned outside of Belize
• Ease of purchasing land or home for your primary residence

Compared to North America, Belize offers a lower cost of living and property prices. Retirees can stretch their pensions and savings further in Belize than they can back home.

What Are Some Cons Of Retiring In Belize?

Belize is a coveted retirement and tourist destination, but no place is perfect. Some of its cons include the fact that internet speeds are slower than what some are used to. Belize is mid-range in terms of speed, at 31 Mbps for downloads. This could be an issue if you rely heavily on the internet.

Electricity outages are common, but supply reliability has improved over time.

Depending on where in Belize you decide to live, you’ll likely need a car, especially if you live in one of the more rural areas on the mainland, like the Cayo District. Taxis and informal buses are available, but Belize is not known for its public transport service.

Is It Ethical To Retire In Belize?

It’s true that, in some cases, foreign retirees create unnatural inflation for real estate and other goods and services in a hot spot. The flipside is that retirees spend money and create jobs and the need for new businesses and services in places they move to.

It’s impactful to the local community to make an effort to give back. Retirees can bring valuable experience, skills, and talents from their old lives to Belize. Many retirees find ways to put those skills to use, volunteering, giving back to their new communities, and forging friendships with locals.

For example, the Rotary Club of Ambergris Caye meets on Wednesday afternoons. The club hosts charity events, fundraising drives, and community education regularly.

Taxes In Belize

Belize is considered a tax haven. The country only taxes locally sourced income, so if your income comes from outside Belize, you can live here with zero local tax burden.

Belize does not impose capital gains, inheritance, or wealth taxes. Property taxes are so low that they are negligible for most people. One tax to be aware of is stamp duty, which is levied at 8%.

The government imposes a 10% general sales tax on new residential properties. Rental income or business tax is 1.5% of gross revenue per month.

Visa Options For Retiring In Belize

Visitors from 142 countries can enter Belize and stay up to 30 days without a visa. If you plan on staying longer, you can go to the local immigration office and extend the tourist visa for another 30 to 60 days. There is no official limit on how many times you can extend your tourist visa. However, the extension is granted on a case-by-case basis and could be denied.

If you plan to stay long-term in Belize, it’s best to apply for a proper residency visa.

You need a visa to retire in Belize. Belize offers several visas for those looking to relocate to this Caribbean haven.

You can apply for temporary residency by proving you can support yourself without being dependent on the state by showing proof of a job or stable income source. The government typically grants this residency for one year, and you can renew it. After one year of temporary residency, you can apply for permanent residency.

Belize also offers the Qualified Retirement Program, or QRP. It’s one of the most user-friendly programs in the world. Recently, the government lowered the age requirement for the QRP from 45 years old to 40 years old. You must earn at least $2,000 per month to be eligible.

This option has perks for retirees like exemptions from import duty for household effects. The downside to the QRP is that your time in Belize doesn’t count toward an eventual application for permanent residency, if that is something you want to pursue.

Who Should Consider Retiring In Belize?

Belize is an affordable tropical paradise in the Caribbean, home to thousands of retirees, snowbirds, and entrepreneurs.

It’s a great option for affordable island living, with plenty of sunshine and beaches and an overall laid-back attitude.

If you get excited by the idea of diving in reefs, snorkeling, swimming in rivers, and exploring caves, jungles with vast biodiversity, and sites of historical significance, Belize could be for you.

If you’re looking to get away from the hustle and bustle of big cities and embrace the remote, off-grid, and self-sustainable lifestyle, Belize awaits.

MORE FROM FORBES