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Belize Articles, Research, & Resource Guides

If you’re here to learn about Belize, you’ve found the right place! We’ve written dozens of articles and guides about investing and living in Belize.

Whether you’re interested in learning about the different cities in Belize, residency or investment laws, we’ve got you covered. There isn’t much about Belize that you won’t find here.

Recent Belize Articles

Belize Real Estate

If you’re looking for property in Belize to buy or rent, head over to our Belize Real Estate page.

Expats thinking outside the box means finding destinations that can offer a combination of adventure and the challenge of living in a different environment. The Latin Tropics have a number of locations that can offer both an adventurous lifestyle and the opportunity to step outside your comfort zone.

The list below contains locations that range from rustic, provincial places, where you can immerse yourself in a new culture, to regions where high adrenaline activities are the theme of the day. These unique spots are not just for visiting but, for those who dare to try something different, places where even the most adventurous expats can find long-term fulfillment.

Locales for Expats Thinking Outside the Box

The list below is by no means exhaustive. However, these destinations are great examples of places where you can find more than just your run-of-the-mill expat hotspot.

expats thinking outside the box

VivaTropical

Boca Chica Island, Panama

For those looking to escape from the 24/2/7/365 rush of modern urban communities, Boca Chica, Panama is the perfect getaway. This 400-acre private island, just a mile off the Panamanian coast and six miles from the town of the same name, combines natural beauty, world-class sport fishing, snorkeling and diving, and tremendous investment potential.

Boca Chica’s close proximity to Enrique Malek International Airport in David makes it easy to access this lush tropical oasis.  Once experienced, it is easy to see that Boca Chica is a desirable place for relocation.

expats thinking outside the box

texaus1

Crucita, Ecuador

Adrenaline junkies who are looking for a place that combines high energy sports with the ambiance of a small tropical fishing village will find that rare blend in Crucita, Ecuador. This beachside town has become known as a premier destination for paragliding and hang gliding with stretches of open beaches, constant Pacific breezes, and a number of businesses that cater to “gliders.”

Given the small population (12,000) and rustic beach lifestyle, Crucita may be the ideal spot for adventurers who are looking for the magic of that “endless summer” without the tourist-centric atmosphere that many beach towns have. More than just a place to visit and play, Crucita has potential for investment while maintaining the irresistible draw of being a location where high-flyers can spread their wings.

santa teresa costa rica

Zanzabar Photography

Santa Teresa/Mal Pais, Costa Rica

Nestled on the southern tip of Costa Rica’s Nicoya peninsula, Santa Teresa (and the surrounding region of Mal Pais) has become a haven for those expats seeking a life less cluttered. The region around Santa Teresa has become a go-to spot for surfers from all over the world seeking to find that perfect wave without the over-development that marks so many beach communities in the region. Surf camps and shops are plentiful; there are even two surf camps – Chica Surf Adventures and Pura Vida Adventures – that are for women only.

The perfect balance to the high-energy world of surfing, the region has also become home to a growing number of yoga retreats and alternative health spas. Close proximity to the first national park in Costa Rica, Cabo Blanco Absolute Nature Reserve and Curu Wildlife Refuge, provides special opportunities to experience a wealth of biodiversity.

Needless to say, this symbiotic merging of meditation, natural wonders, and adrenaline sports has made the Mal Pais region a popular place to visit and play. While there is an increasing push to develop more contemporary living in Santa Teresa, it is still possible to live there and immerse yourself in the eclectic ambiance of rustic small villages where the spirit of “pura vida” remains alive and well.

expats thinking outside the box

Paul Krawczuk

Galapagos Islands, Ecuador

Nature lovers could ask for no better place to live than the Galapagos Islands, off the coast of Ecuador. While the Galapagos archipelago is made up of 19 islands, only five are inhabited: Baltra, Floreana, Isabela, San Cristobal, and Santa Cruz. The largest city, Puerto Ayora, home to about 10,000 people, is located on Santa Cruz.

Long admired as one of the premier destinations for wildlife viewing, this group of islands is home to various types of plants and animals found nowhere else on Earth. The few villages and towns scattered throughout the archipelago are rustic settlements that are reminiscent of an earlier, less complicated time.

Living in a location that is unsullied by modern construction, surrounded by a unique and biodiverse environment, seeped in historical relevance, is what a move to the Galapagos Islands promises. More than just a place to visit, these islands can be a retreat from the modern world like no other place on Earth.

expats thinking outside the box

Luis Penados

Lake Atitlán, Guatemala

Labeled by such figures as Aldous Huxley and Alexander Von as being the most beautiful lake in the world, the highlands area of Lake Atitlán, Guatemala has become a favorite for expats looking for a unique destination off the beaten path. Located in the Sierra Madre de Chiapas mountain range, the Lake Atitlán area has a cooler, less tropical climate that may appeal to expats who find the heat along the coast less inviting.

The nine villages that surround the lake offer both a rustic lifestyle and a chance to become immersed in the local Mayan culture like nowhere else in the region. Being able to see and experience Mayan culture, not just as a tourist presentation, but as a way of daily life, is a profound experience that cannot be had in many places in the world.

Less developed than other parts of Guatemala, this region holds great investment potential for those who are intrepid enough to create their own version of a Latin Tropics escape. Balancing growth while maintaining the special cultural vibe of the region is a focus of the area’s residents, and it shows.

expats thinking outside the box

Bernard Dupont

Sanctuary Belize, Belize

Nestled between Mexico and Guatemala, the tiny country of Belize melds a unique blend of eco-lifestyles, adventures on land and sea, and Mayan ruins. Formally known as British Honduras, Belize is unique in that it is the only Latin Tropic country where English is the official language.

Belize offers a diverse selection of things to see, do and experience. Numerous Mayan ruins await those who wish to see the remnants of this amazing culture up close and personal. For those looking for aquatic adventures, the Belize Barrier Reef is the longest barrier reef in the Western Hemisphere and second-largest in the world behind Australia’s Great Barrier Reef.

Sanctuary Belize has become a unique experiment combining eco-tourism and a “green” lifestyle on its 14,000 acre location. Having the opportunity to live green in the tropics while enjoying the natural beauty of Belize is certainly an exciting option for expats looking for something more than just an oceanfront existence.

Dare to Think Outside the Box

One of the best parts of the expat experience is discovering new vistas and new ways of living that can take you beyond the life you had before. Visiting these locations (or others that peak your interest) can be the first step to leaving your comfort zone to find your own road less traveled.

There are a number of reasons expats love Belize as a retirement destination. This small Caribbean nation (population roughly 370,048) has seen a steady growth of new expat arrivals with about 1,600 more expected by the end of 2016.

Even with all of the positive aspects of moving to Belize, this tropical destination may not be ideal for everyone. Like every expat destination, it has its pros and cons. It’s important to weigh them carefully, in light of your own personal priorities, in order to decide if Belize is right for you.

reasons expats love Belize

Walter Rodriguez

Why Expats Love Belize

Expats love Belize because of several unique characteristics that have become the hallmark of this former British colony. The top reasons for this rise in popularity are listed below:

The Importance of Language

For many retirees and potential expats, a major concern is how to get along in a foreign country where English is not the primary language. Belize is the perfect choice for those who are not comfortable with Spanish.

English is the principal language in the country, both in day-to-day and, even more importantly, in all official and governmental transactions. Being able to easily communicate with native Belizeans in business and social settings makes for an easy adjustment.

Money Conversion Is Not a Problem

Belize does have its own currency, the Belizean dollar (BZD). However, the U.S. dollar is widely accepted for personal and commercial business. For those rare instances when local currency is needed, the conversion rate is simple to calculate: 2 BZD=1 U.S. dollar.

Location, Location, Location

When people retire, one of the major drawbacks that can keep them from following their tropical dream is the distance from family and friends. The announcement that you are moving out of the country can often be met with resistance and disapproval from those close to you who are concerned about keeping in contact.

One of the biggest reasons that expats love Belize is how close it is to the U.S. With a variety of regularly scheduled flights to and from Phillip Goldson International Airport, located in Belize City, staying connected to loved ones is convenient and inexpensive.

reasons expats love Belize

Eric Camm

Home Sweet Home

Foreigners can hold real property in their own name in Belize. Ever since the abolition of the Alien Landholding Act in 2001, there are no requirements, special licenses, or permits required for non-residents to own their own home.

What’s more, it is far easier to purchase beachfront property in Belize than in most other countries in the Latin Tropics.  For those looking for an investment possibility, owning an oceanfront parcel can result in a good return on the initial cash outlay. With a growing list of properties on the market, finding your ideal home in paradise may be just a mouse click away.

People and Places

With so many Belizeans having U.S. connections, it is not surprising that new arrivals are welcomed as neighbors and new residents. Entry into the country is especially easy for citizens of North American countries or the U.K. who do not need visas for entry.

The variety of opportunities to explore and enjoy all that this country offers is yet another reason why expats love Belize. From the ancient Mayan ruins at Altun Ha, Caracol, and Lamanai, to the natural wonders of Belize Barrier Reef, the second largest in the world, to the mysterious Blue Hole, Belize combines culture and adventure with a laid-back tropical vibe.

The Two Things Expat Hate About Belize

While there are lots of reasons why expats love Belize, there are two major factors that many expats hate about their move to Belize. By looking at these negative aspects, you are in a better position to decide whether this is a move that you want to undertake.

reasons expats love Belize

anoldent

Time Is Relative

As is the case with many countries in the Latin Tropics, the importance of time is dramatically different than what most North Americans are used to. Expecting things – such as repairs or governmental functions – to be completed at the same rate as they would be “back home” can lead to a great deal of frustration and angst.

Ironically, one of the elements that can add to this sense of frustration is the natural desire to please that is a prominent feature of Belizean culture. Belizeans may say “maybe” or “possibly” instead of “no.” This kind of cultural difference is one of the biggest complaints many expats have expressed about their experience.

There’s Still Room for Improvement

There is so much in Belize that reminds expats of “home.” English is the spoken language. American television is watched by almost everyone. And in Belize City and other developed areas of the country, the modern amenities are similar to what you’d find in most U.S. cities.

However, the real downside of living here is that many items – especially big ticket items like appliances, electronics, and vehicles – are not readily accessible and, when they are, prices are much higher than one would expect back in the U.S.  Even smaller items, like clothing, food products, and over-the-counter medicines can be a real challenge to find.

The combination of high import taxes, limited or no supply, and lack of major retail centers is another feature that many expats hate. They eventually learn to get by using locally-sourced products, but the adjustment period can be an issue for some.

Love or Hate It, Belize Is Worth a Closer Look

Everyone’s idea of retiring in a tropical paradise is different. Belize, with its positives and negatives, may or may not be the ideal place for the next phase of your life. Researching the country, visiting it, and being realistic about your own expectations is the best way to help you decide whether Belize is right for you.

 

Belize is widely known for its beautiful landscapes, incredible biodiversity, and some of the friendliest people in the Latin tropics. It’s also celebrated for the Belize Barrier Reef, the largest in the Western Hemisphere and the second largest in the world, and the Great Blue Hole.

Thanks to these oceanic features and the incredible opportunities they provide for diving, fishing, and exploring, much attention is given to the many islands or cayes that dot the waters of the country’s coast.

Tourists and expats flock to destinations like Ambergris Caye and Caye Caulker, seeking what they hope will be an authentic Central American experience with postcard-worthy beaches and a laid-back lifestyle, far from the madding crowd.

I hate to be the one to break it to them. But to find exactly that, they’ll need to head to a destination just a little bit further south. On the mainland.

best belize beaches

Ken Douglas

The Caye You Can Walk To

About 3 hours south of Belize City, and a comfortable drive thanks to the recently paved Southern Highway, lies the Placencia Peninsula. Or–as the early Spaniards called it–Punta Placencia, which means “Point Pleasant.”

And the area lives up to its name, as what you’ll find as you travel the length of the 16-mile long peninsula is nothing short of pleasing. In fact, Placencia, Belize has almost, if not all, the same perks as its island counterparts. Yet with one obvious exception. It doesn’t require a plane or boat to get there.

Placencia Has Better Access to Water Adventure than Belize’s Islands

The Placencia Peninsula divides the Caribbean Sea on the east from the protected Placencia Lagoon to the west. As a result, it offers many additional opportunities for exploration than some other popular destinations in Belize.

Because the reef extends for miles, parallel to Belize’s coastline, Placencia also offers easy access to spectacular diving and snorkeling sites. Divers of all skill levels can see the famous whale shark and many other species on both the reef as well as the many caves and atolls near the peninsula.

In addition to its ocean offerings, the Placencia Lagoon also houses species such as saltwater crocodiles, endangered manatees, turtles, dolphins, and stingrays. In its mangrove forests are various species of fish and birds, as well as rare species of coral.

The waters off the coast of Placencia are also great for sailing as well as fishing for wahoo, snapper, kingfish, and more. There are also some excellent spots to go fly fishing in the lagoon. Kayaking and cave tubing round out the menu of Placencia’s water adventures.

best belize beaches

Suzanne Schroeter

 

Some Placencia Water Adventures Culminate with Land Excursions

Another benefit of being a mainland destination is that Placencia also offers river tours, such as those that journey up the Monkey River, so named for the howler monkeys you’ll find at the end of the tour. Along the way, boaters can see iguanas, turtles, and rare birds before hopping ashore for a jungle tour under the forest’s lush canopy.

Another popular land excursion is to the Cockscomb Basin Wildlife Sanctuary, a 128,000-acre jungle preserve which contains all five species of Belizean wildcats: ocelot, puma, margay, jaguarundi, and jaguars. Its nearly 300 bird species include scarlet macaws which fly in formations of up to 40 birds.

The Maya Mountains also lie just across the lagoon from Placencia. There you’ll find the ruins of Nim Li Punit and Lubantuum, as well as some incredible waterfalls and rapids.

But Nothing Can Top Placencia’s Beaches

Even the most devoted of the island lovers agree; the beaches along the coast of Placencia, Belize, are hands down the most beautiful in the country. They’re shimmering white, surprisingly wide, and they stretch for roughly 16 miles down the peninsula’s coast.

As a result, it’s entirely possible to find a secluded spot where you can swim or sunbathe completely alone, or with your favorite companion. The docks that jut out into the waves are few, allowing for an uninterrupted view of the Caribbean Sea and an unobstructed path for sunset strolls.

No one can argue with the fact that Placencia is the real Belizean beach that deserves to be on the back of a postcard.

Placencia, Belize Offers the Real Caribbean Culture Many Island-Goers Seek

Many expats choose to settle on one of Belize’s islands due to the high level of development and infrastructure that comes with living in a popular tourist destination. What they don’t count on is the fact that they’re trading North American-style amenities for authentic culture.

While the islands can lean a bit towards the touristy end of the spectrum, Placencia is about as genuine as you can get, starting with its people. Placencia’s population includes people from many ethnic groups including Latinos, Creoles, Maya, Mennonite, Chinese, East Indian, European, and North American.

There are also the Garifuna people, descendants of African slaves, who settled in the town of Seine Bight in 1832 and remain there to this day. A trip to this village, just north of the peninsula, offers the chance to taste Garifuna cooking and listen to their native music.

Everyone in Placencia is warm and welcoming. To the unassuming residents, not much has changed in recent decades as the town has progressed from a sleepy fishing village to an albeit lesser-known haven for expats and tourists.

Locals still work as fishermen or tour guides. They’re a close-knit community with regularly held events and celebrations and a vibe that most agree is much more authentically Caribbean than what’s manufactured on some of the island developments.

best belize beaches

Philip Larson

 

Yet It Still Offers World-Class Amenities, In a More Charming Setting

That’s not to say that Placencia doesn’t have plenty to offer, compared to its more developed counterparts. Quite the contrary. Recent improvements and newly opened businesses continue to make Placencia, Belize an incredibly comfortable place to live.

The northern part of the peninsula is more sparsely populated. As a result, that’s where you’ll find some of the high end resorts and all-inclusives.

As you travel south, there’s a higher concentration of consumer options like coffee shops, banks, bus stations, restaurants, bistros, and internet cafes. Yet even the main part of town has no paved roads, only sidewalks, which helps it maintain its small-town charm.  

Real Estate in Placencia, Belize is Also Pleasantly Affordable

Thanks to recent infrastructure improvements, like the newly paved roads, the area is seeing a boom in tourism and development. As a result, property values are on the rise.

They’re far from maxed out though, as Placencia is still a great place for potential expats or investors to find beachfront property in Belize at a reasonable price. Another perk to buying property in Placencia, Belize is that the process is made simpler since English is the official language and the U.S. dollar is accepted as currency.

Another thing that makes Placencia, Belize real estate a smart buy is the opportunity to invest in tourism. Norwegian Cruise Lines is now shuttling tourists from its private port on nearby Harvest Caye. With that influx of visitors comes an increased need for businesses catering to tourists.

If buying a boat and offering fishing charters or opening up a beachside smoothie stand sound right up your alley, then maybe you should consider Placencia, Belize. You’ll love the locals, and you can’t beat the view!

 

Many people seeking the island life gravitate towards the islands in the West Indies or the Eastern Caribbean, but there are so many options out there. For instance, the Western Caribbean nation of Belize hosts a number of locations that make a great island lifestyle possible, including Ambergris Caye.

Once the decision to move down to a gorgeous tropical destination to live out your tropical lifestyle dream has been made, the real work can begin. And of course, start first with investigating all there is to know about living in Belize.

ambergris caye belize

Rich MacDowell

We think a good place to start is Ambergris Caye. There are plenty of homes for sale for reasonable amounts of money, but that’s not the only reason to live there. Belize has plenty to offer, including English as its official language, an established expat community, and great ecotourism opportunities for fun in the sun.

From Fishing and Farming to Shopping and Fine Dining

Many of the island’s locals include immigrants from Mexico, as the island was once a large coconut producer and fishing town.  Only recently has that changed as Ambergris Caye has become largely dependent on tourism.  It’s the largest island in Belize (out of over 200), 25 miles long and over a mile wide in some spots.

The water there is the beautiful blue for which the Caribbean is famous.  The second largest barrier reef in the world (over 190 miles long) protects the island and the coastline of Belize.

Though the island is quite long, San Pedro Town is the only part with inhabitants. The town itself is only a mile long and a mile and a half wide.  You’ll find a lot of the usual tourist trappings here: gift shops, bars, and fancy restaurants for those on vacation. However it’s far from feeling “touristy.”

Ambergris Caye Is “Simply” Irresistible

Many people enjoy Ambergris Caye because they want the beach life, but they don’t want to live in a high-rise on South Beach or another built-up paradise.  They love it for its simple charm.  Like the dirt streets that are constantly watered down to prevent dust or the frequent hum of golf carts zipping by. Some buy land and build their own home, and find their creative spirit, like creating art from the driftwood that runs up on shore.

The simplicity also helps with keeping costs down.  For example, $50 per year for golf cart insurance beats the heck outta hundreds or thousands for car insurance. And in this case, remote and simple doesn’t have to mean disconnected.  Reliable internet service makes it easy to keep in touch with family back in the U.S. or operate a business from your home.

Quality medical care is also readily available and affordable.  Dental procedures cost only in the tens of dollars, compared to a few hundred back home.

Ambergris Caye

Amaury Laporte

Affordable, But Not Cheap

While we’re on the subject of cost, you may be wondering how much it really takes to live in Ambergris Caye.  The truth is that, while it is one of the more expensive places to live in the country, due to its beautiful beaches and pleasant surroundings, you’ll still be saving a significant amount in comparison to the United States. And, just like anywhere, costs can vary greatly depending on your location and lifestyle.

Home costs can run as low as $300 a month for a basic house or apartment, but beachfront condos can run in the thousands of dollars. It is much cheaper over time to own the home, especially since property taxes are incredibly low.  Electricity and other utilities may be expensive, depending on the usage. You can cut down costs by getting energy efficient appliances, and using air conditioning sparingly.

Groceries can be cheap, if you stick to non-American brands and a red meat-less diet. Alcohol is relatively cheap, but your wine habit may cost you a pretty penny. There’s a wide selection of consumer goods on the island, but anything else has to be shipped, which adds some additional costs.

One expense you’ll need to consider is getting to and from Ambergris Caye when visiting family back in the States. JetBlue, Spirit, and Southwest Airlines have made a run at many Caribbean and Central American nations, offering return flights for under $300 in some cases from as far as New York City.  Belize, on the other hand, has fewer competitors vying for the destination, so you’ll see a lot fewer “flight deals” than to other places in Central and South America.

ambergris caye belize

Cloud 2013

Stay Busy (or Not) on Ambergris Caye

If you’re worried about getting bored on Ambergris Caye, you may want to check out your priorities.  With the aforementioned second-largest barrier reef on earth, you’ll find plenty of diving opportunities around (ever heard of that little thing called the Blue Hole?).  Shark Ray Alley also allows you the opportunity to swim with sharks. And, with such a healthy reef just off the shore from your home, sport fishing is a popular activity in the area.

For land lovers, there are things to do on shore as well.  If you’re an epicurean, there are dozens of restaurants that may tickle your fancy.  Or, if you’re interested in nightlife, there are several late-night bars providing entertainment for tourists and locals alike.

There are even a few attractions underground!  Since Ambergris Caye is a limestone atoll, there are actually caves that you can explore to escape the heat. Other eco-opportunities include Bacalar Chico National Park, Marco Gonzalez Maya Site, and escaping to the mainland of Belize which features an incredible amount of ecotourism, including cave tubing (yes, you read that right!).

Or, if a little relaxation is all you’re after, there are plenty of opportunities to just kick back and enjoy the beautiful vistas and the soothing sounds of the Caribbean waves and wildlife.

So, is Ambergris Caye the island for you? It combines the Caribbean island life, coupled with some authentic Belizean culture.  Read more of what we’ve written about this Caribbean paradise, and see if you can make your island life a reality today by moving to Ambergris Caye.

Thinking about investing in a second home? Retiring or going expat? Why not consider six spectacular places to live in Latin America?

places to live in latin america

Ingrid Khadijah

Why Should You Choose a Place to Live in Latin America?

For all the same simple reasons full-time expats and retirees flock to this part of the world. Simpler life. Tropical climate. Azure waters and gorgeous beaches. Jungle and mountains of unparalleled biodiversity. And growing numbers of flights from around the world.

You must be thinking, “Aside from the obvious, what else lures real estate investors to Latin America?”

Rich cultural heritage, pure beauty of nature, and simple lifestyle are truly magnificent. But Panama, Belize, Honduras, Ecuador, Costa Rica and Mexico have other ideal investment factors.

Why Do Investors Love Latin America?

These top emerging markets have healthy, growing economies. Construction and reconstruction are on the rise. Tourism, retirees, and expat numbers are steadily increasing. As a result, there are many fresh business opportunities. Generally speakingthere’s a robust need for rental properties.

Infrastructure improvements are a top priority. Internet access is typically a given. World-class hospitals and other modern medical facilities are available. Public transportation is solid.

New international airports are being built. Airline routes are growing. And visas and passports are easy to obtain.

Home prices are a real bargain. You can get a bigger house, a great location, and better views for so much less money compared to most other countries. You can find a modern two-story 3-bedroom/3-bath home with high-end finishes for $115,000.

The costs of living are low. In many places, a mere $2.50 will buy dinner at a local restaurant, and a couple can live really well on less than $2,000 per month.

Taxes, insurance, and utilities are low. And retiree incentives for expats are quite excellent.

So check out these six spectacular places to live in the Latin Tropics.

places to live in latin america

Cariberry

1. Ambergris Caye, Belize

“Best island in the world!” That’s what Trip Advisor readers said two years in a row. Ambergris Caye strikes a perfect balance between quaint and modern. High-rise buildings and traffic lights are non-existent. Locals, Latin immigrants, and expats from all over the globe traverse the island’s sandy roads barefoot or in a golf cart.

You’ll love exploring the diverse ecosystems around the island. From palm-lined beaches to mangroves, jungles, and reefs, you’ll never run out of things to do. Ambergris Caye is situated less than a mile from the second largest barrier reef in the world (Belize Barrier Reef). And one of the world’s top diving sites (Great Blue Hole). Scuba diving and snorkeling can’t get any better.

Can you imagine yourself sailing to the nearby cayes? Caye Caulker is a popular neighboring destination.

places to live in latin america

John Colby

2. Roatán, Honduras

Lonely Planet termed Roatán “pitch perfect.” The well-developed tropical setting offers an active lifestyle in a tranquil setting. Picture thirty miles of Carribean paradise with its own international airport, Juan Manuel Gálvez International Airport. Take your guests for a swim with the dolphins and sea turtles in Roatán’s warm Carribean waters.

Go sport fishing or kayaking. Explore shipwrecks, seawalls and Mayan artifacts. Scuba dive and snorkel in the nearby Belize Barrier Reef. And ferry to the mainland port of La Cieba in only an hour.

Take your land lover guests zip lining or ATV riding through the jungle.

places to live in latin america

Casey

3. Cuenca, Ecuador

Expats of all ages and from around the globe flock to Cuenca for its beautiful Andes mountain location. They’re lured there by Cuenca’s natural beauty, captivating colonial architecture, and 70-degree temperatures year-round.

Modern facilities and solid infrastructure make living here a charm. Among the breathtaking skylines, you’ll have the modern conveniences of pedestrian walkways, bike paths, underground parking facilities, and an excellent light-rail system.

State-of-the-art medical facilities combined with highly qualified medical professionals are added bonuses. And shopping malls, grocery and hardware stores, restaurants, and bars are plentiful in Cuenca.

places to live in latin america

Viva Tropical

4. Boca Chica, Panama

The Boca Chica economy is about to explode. Expansion at Enrique Malek International Airport (in David, Panama) will, for the first time, receive flights from major airlines around the world. A scenic 30-minute drive from the airport lands you in the serene little fishing village of Boca Chica. Picture rolling hills and secluded beaches. Sapphire waters and “emerald islands.”  A so-called secret “tropical fantasy!”

How cool would it be to take a 10-minute boat ride to your home on Boca Chica Island? You’ll feel like you’re hours away from civilization. And you might even forget what day it is. But the truth is, it’s incredibly easy to get to.

There are no tourist traps on Boca Chica Island. Just unspoiled prehistoric nature.  A place where locals and like-minded expats can still own a piece of heaven for a bargain.

places to live in latin america

Viva Tropical

5. Nosara, Costa Rica

Lonely Planet compared Nosara with Malibu and Oahu’s North Shore. Nosara’s surf-friendly beaches are some of the most beautiful in Costa Rica. Imagine dramatic rocky cliffs, tropical palm trees, and big expansive sand shores.

Internationally-recognized Nosara Yoga Institute made Nosara a popular travel destination with an enthusiastic health-conscious culture. Health food stores and organic markets are plentiful.

International schools with excellent academic and cultural programs make it ideal for raising a family.

places to live in latin america

Sean Savage

6. San Miguel de Allende, Mexico:

San Miguel is a UNESCO World Heritage Site. This interior city emerged from agriculture and industry to tourism and expat commerce. Although it has no beaches or blue waters, visitors fall in love with San Miguel’s cobblestone streets, rich history, and diverse culture.

The preserved colonial and Spanish architecture is truly breathtaking. And the “eternal spring” climate, combined with moderate costs of living and walkability, seals the deal.

You’ll enjoy roaming the vibrant art community and eclectic shopping venues.

Need you look further than these six spectacular places to live in Latin America?

Latin America provides an ideal lifestyle and perfect conditions for second-home investors, retirees and expats. Property bargains, benefits and amenities make your transition easy.

Take a trip down to see for yourself.

Generally speaking, the answer is “yes.” Belize is safe for expats and tourists. The U.S. Department of State reports, “Potential for domestic terrorist activity such as bombings, kidnappings, or hijackings is considered low.”

belize is safe

Karla Schuch Brunet

And thanks to the Belize Government’s strong measures against historical gang wars and drug violence (largely in Belize City), the country’s overall crime rate is declining. Gang and drug violence are not perceived to be a threat to tourists and expats, particularly outside Belize City. Belize Defense Force and Tourism Police heavily patrol most tourist sites around the country.

There are many reasons to relocate to or visit Belize. Its friendly welcoming people are one of them. But as in most expat and tourist havens around the world,  you still need to be cautious of crimes of opportunity.

Here are a few common sense ways you can avoid petty crime.

belize is safe

jparker2005

11 Common Sense Ways You Can Avoid Petty Crime

  1. Carry small amounts of cash. Don’t go out flashing large sums of money.
  2. Leave your flashy jewelry (or any objects of wealth) locked away at your hotel or home.
  3. Don’t leave your backpack, purse, wallet, camera, iPad, or phone unattended.
  4. Don’t stand out in the crowd. Tone it down and dress modestly.
  5. Don’t venture out to archaeological sites or on jungle hikes alone. Hire a guide service or go with a group.
  6. Don’t walk at night. Hire a private driver or legal taxi service to go from point A to B. Regulated taxis have green license plates.
  7. Avoid public transportation.
  8. Stay alert and aware of your surroundings.
  9. Avoid late nights at the bar.
  10. Familiarize yourself with sketchy areas and steer clear.
  11. Refuse any offers to purchase drugs or engage in any other illicit activities.

Driving in Belize may be more of a safety concern than petty crime is for most. Road conditions are generally poor. And traffic fatalities are a real danger.

10 Things to Watch for While Driving in Belize

  1. Poorly lighted roadways.
  2. Pedestrians and cyclists. It’s common to see bicyclists carrying passengers on the handlebars. Watch for pedestrians with kids walking in the roadway.
  3. Unexpected obstacles like dogs, wildlife, pot holes, and speed bumps.
  4. One lane bridges.
  5. Flooded bridges due to clogged drainage and waterways.
  6. Odd driving patterns. For example, drivers turning left must pull over on the right shoulder until all vehicles have passed in both directions.
  7. Speeding buses.
  8. Local drivers passing in curves.
  9. Sketchy cell phone coverage.
  10. Poor road signage.

An accident on the roadway in Belize can lead to health safety concerns. Minor medical care facilities and pharmacies are available in most rural areas of Belize. But major medical services are limited outside Belize City. If you live or travel in a rural area, take precaution to ensure you are covered for medical emergencies that may require air transport.

belize is safe

Zhu

5 Ways to Protect Yourself from Health Safety Concerns

  1. Keep your routine vaccines current. Hepatitis A, Typhoid, Malaria and Rabies are recommended for most tourists and expats. Check the CDC website for a full list.
  2. Be cautious of where and what you’re eating and drinking outside your home or hotel. Tap water and ice in some rural areas may be contaminated. It’s always a good idea to eat only food that is cooked on demand and served hot.
  3. Use hand sanitizer and wash your hands with soap every chance you get.
  4. Stock up on anti-diarrheal medication.
  5. Apply insect repellents often.

Dengue fever and malaria are two mosquito borne diseases that are present in Belize. And sandfly parasites are common in jungle areas. These simple preventive measures will help you stay well away from home.

It’s always a good idea to implement some preventive measures to keep your home or hotel room safe as well. Burglary can happen in any neighborhood. But you can lower your risk by taking these common sense precautionary measures.

3 Preventive Safety Measures for Your Home or Hotel Room

  1. Secure your entry doors with deadbolts.
  2. Leave the entrance well-lit at night.
  3. Always make your home look like it’s occupied. Leave lights, TVs, and radios on timers.
  4. Store your valuables in a locked safe.

Like in the U.S., residential crime rates are lowest in neighborhoods with neighborhood watch programs.

Belize is safe if you heed the warnings and take precautionary measures just like you would back home in the U.S. This applies to weather hazards and water safety as well.

Severe weather and inadequate safety precautions contribute to numerous deaths in Belize each year.Whether you’re going out on a boat or kicking back inland, be sure to tune in often for severe weather alerts and deteriorating local conditions.

5 Weather-Related Safety Hazards You Should Look Out for

  1. Frequent tropical storms and occasional hurricanes.
  2. Severe flooding, tornadoes, and high waves.
  3. Washed out roads and bridges.
  4. Water taxis that sail in inclement weather. Often they don’t carry enough safety equipment to accommodate their oversized passenger loads.
  5. Negligent diving tour operators that don’t heed the weather warnings.
Belize Real estate

Belize Real Estate photo by Anoldent

Belize Is Safe and Beautiful

The weather in Belize is not to be feared, but respected. Many expats and tourists prefer rainy season (low season) due to less crowds and lower rates. But snorkeling, diving, and caving adventures sometimes get cancelled because the conditions are considered unsafe.

Expats are flocking to Belize at an ever-increasing rate. And tourism is on the rise year-round. Whether you’re contemplating a short visit or the move of your lifetime, you can rest assured that Belize is safe, and it’s one of the most beautiful places to go in Central America.

Although you may have thought that retirement was still a long way off, the time to retire to Belize is now.  The Belizean government has a program in place that could let you move to this quirky, Central American location as early as age 45.

With Belize being poised to be a major retirement mecca for expats from the U.S. and the UK looking for tropical ambiance with English being the official language, this program – the QRP – may be changed or limited in the future. Taking advantage of the chance to retire to Belize now is an opportunity that shouldn’t be missed.

Being located close to the US makes it easy for retirees to transition from a life in the states to a less hectic lifestyle in Belize. Living in Belize is more than just a change of residence; between the cultural richness, natural beauty, and friendly citizens, Belize can provide much more than one might expect.

retire to belize

jo3design

The QRP – The Gateway to Retirement in Belize

As an enticement for foreigners to relocate and invest in Belize, the government established the QRP (Qualified Retired Persons) program. Under this program,  there are minimal requirements that have to be met and, as discussed above, real financial benefits that can be obtained.

The basic requirements are that a) the applicant is over 45 years of age; b) the applicant can prove a monthly income (from any source) of at least $2000 USD; or c) the applicant arranges to deposit in a Belizean bank the sum of $24,000 on or before April 1st of each year for their own care and maintenance.

One of the most unique features about the QRP is that it does not bear any relationship to how many days you spend outside the U.S. or inside Belize. This can be a great advantage for those who are “perpetual tourists”; travelling to many places or only staying a limited number of days in Belize itself.

A second unique feature is that the age limit is only 45. Clearly, you don’t have to be of retirement age to qualify for QRP status.

While this law has been in effect for over a decade, there has been some talk in Belizean government circles about limiting the number of applications per year, raising the dollar limit required, or other changes. As a result, now is the best time to take advantage of this program before any changes are enacted.

Why the Choice to Retire to Belize Makes Sense

With all of the potential options that an expat retiree could choose, why does the choice to retire to Belize make so much sense? There are a number of reasons that support the “Belize option.” The major ones are listed below:

Money Does Matter

While Belize is not the most inexpensive choice for retirement, the value you receive for the money you spend is well worth it. For example, the average for utilities (electric, water, heat, and garbage) is around $88 per month. The prices in the metropolitan areas such as Belize City and the capital city, Belmopan, may be slightly higher.

Rental units can also be reasonable. The country average can range between $200-$700 per month; again higher rates will be found in the larger, more popular areas. It is important to note, however, that the number of rental units is small and, as a result, desirable properties may be at a premium – both in terms of location and price.

Belize has a well-developed infrastructure with the kind of modern amenities you would expect in the U.S. Cable television, high speed internet service, and cellular phones are all readily available and much more moderately priced than their North American counterparts.

Taxes Aren’t “Taxing”

One concern for retirees is having to pay taxes, both on their imported personal goods, as well as on passive income from pensions. As an incentive to bring expats to Belize, the government has put in place the QRP – the Qualified Retired Persons – program. (More on that below.)

This program permits those qualifying as a QRP to import, absolutely tax and duty-free, their personal belongings as well as a single “approved means of transport” (motor vehicles, boats, and light aircraft) for their personal use. This is markedly different from other Central American countries, where import duties and taxes can run in the thousands of dollars.

Income, either earned or passive, received from sources outside Belize, by QRP individuals, is totally exempt from all taxes and levies. For those retirees receiving income from 401(k)s, or other pension instruments, this can be a tremendous savings.

Real estate taxes are very straightforward. For residential property, the tax rate will be between 1% and 1.5% of the value as set by Department of Natural Resources.  Additionally, there is a 25% discount on property taxes for Senior Citizens (over 65) which certainly is a great incentive for expat retirees.

retire to belize

Amelia TWU

Real Bargains in Real Estate

The Belizean real estate market suffered from the same pressures as the rest of the globe in 2008. Although the market has rebounded, prices for residential properties (both stand alone and condominium) are still quite reasonable. Looking at a selection of what is available can give you a good perspective on how much your home in paradise may cost.

There are no restrictions on non-residents buying or owning property in Belize. Since the Belizean legal system is based on English Common Law (like the U.S.), as compared to the Napoleonic Code which forms the basis of other Latin American legal systems, the rights and obligations involved in property ownership are easy to understand.  It also helps that the laws are written in English.

Healthier and Less Stressful Living

Perhaps one of the greatest benefits you will receive when you retire to Belize is having a more relaxed lifestyle. This more casual approach to daily living, while requiring some adjustment when appointment times tend to be more like approximations than confirmations, ultimately lead to a less stressful way of looking at the world. Less stress does equal better health.

With so many outdoor activities, you will find yourself far less sedentary than you might imagine. The readily available supply of fresh fruits, meats, and vegetables, all locally grown, are a welcome improvement from the over-processed food that make up far too much of American diets.

retire to belize

Xiaozhuli

retire to belize

Victoria Reay

Learning More About Retiring in Belize

There are some facets about retiring to Belize that should be given consideration.  It is important to remember that Belize is coming to the “expat retirement table” somewhat late in the game, as compared to other countries such as Costa Rica, Mexico, and Panama.

As a result, the laws governing residency and retirement may change. Keeping abreast of these changes can be an important part of your relocation process.

While the developed areas of Belize have modern amenities and infrastructures, the more rural areas may not have the same level of services. If a more rustic lifestyle is not to your liking, your search should be limited to those more popular areas.

There is no substitute for actually going to Belize and enjoying its wonders for yourself.  Plan a trip, not just as a vacation, but as a scouting mission to learn about the place that you’ll want to retire in.

Many expats are discovering that moving to Belize may be the ideal choice for those seeking a tropical paradise. Perhaps one of the best kept secrets in Central America, this unique location offers a blend of history, a large range of biodiversity, and an environment that actively welcomes expats to become part of the Belizean lifestyle.

There are many features that Belize offers that set it apart from other destinations in the region. Below is a list of these factors that can give you an “insider’s” perspective on the potential that Belize contains for permanent expats and investors alike.

moving to belize

The Simple Good

Why Moving to Belize Can Be the Best Decision You’ll Make

  • English is the official language of Belize. Being able to freely converse with Belizeans makes day-to-day tasks like shopping, asking directions, or dealing with repair people much easier.
  • Belize freely accepts the U.S. dollar.  Although it does have its own currency, the Belizean Dollar (BZD), its conversion rate is a steady 2 BZD:1 USD.
  • Its close proximity to the U.S. makes for easy access.  There are a variety of regularly scheduled flights to and from Phillip Goldson International Airport located at Ladyville, which is 11 miles from Belize City. Major U.S. carriers, such as American and Delta, in addition to regional operators such as TACA and Maya Island Air, provide international and regional service to Belize.
  • As a resident of North America or the United Kingdom, you do not need a visa to enter Belize.  The “tourist card” is good for a 30 day period and is renewable on a monthly basis for a $25.00 fee for up to six months before that amount increases.  This makes for an easy transition as expats explore their options for permanent residency.
  • Belize is filled with many opportunities for exploration and entertainment. From the Mayan ruins at Altun Ha, Caracol and Lamanai to the world famous Blue Hole and the Belize Barrier Reef to the jungles of the interior, there’s incredible biodiversity and authentic culture to explore.
  • Belize offers incredible bang for your buck.  That’s not to say that Belize is the cheapest place to live, but the value you get for your money is much greater than in comparable destinations. Below is a chart comparing the average price of rents and utilities in Belize City with that of its sister city in the U.S., Ann Arbor, Michigan:
City Ann Arbor, MI Belize City
Apartment (1 bedroom) in City Center $1047 $291.01
Apartment (1 bedroom) Outside of Center $700 $126.67
Apartment (3 bedrooms) in City Centre $1850 $1000
Apartment (3 bedrooms) Outside of Centre $1116.57 $808.33
Basic (Electricity, Heating, Water, Garbage) for Apartment (85 square meters) $150.76 $60
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) $0.20 $0.75
Internet (6 Mbps, Unlimited Data, Cable/ADSL) $53.11 46.67

(research by numbeo.com)

With the same modern amenities found in U.S. cities, the cost of living in Belize is significantly lower. Additionally, there are the added benefits of a more relaxed tropical lifestyle and the opportunity to immerse yourself in the rich historical and cultural aspects of this Central American destination.

Even Paradise Has Things to Consider

For all of the positives of moving to Belize, there are still some challenges that may be encountered. One of the major issues is the availability of rental units throughout the country.

Belize is small; the population is only 331,900. As a result, there are not a lot of rental units and, as a consequence, those units that do exist, often come at a premium price. You may not find a residence in your desired area, so being flexible is important.

Like other developing Central American countries, Belize can be a study of contrasts when it comes to infrastructure. If you are looking at a more rustic location, the trade-off might be that some of the amenities of the more popular areas (better roads, cable, and internet are examples) may not yet be in place.

Moving to Belize

Mangrove Mik

So What Do You Need to Do to Make the Move to Belize

Before you decide to make the move to Belize, you should visit the country. Check out some of the potential locations that you think would be a place that would suit your lifestyle. There is no substitute for actually “being there” in order to discover whether this is the move for you.

Once you find the place and atmosphere that calls to you, a decision has to be made as to whether you want to rent, buy, or build. Obviously, this is dependent on your short- and long-term financial outlook.  Contacting realtors in the area can help you narrow the search for your residence in paradise.

In addition to doing your online research, check out expat blogs as well as social media pages. These are people who have “been there, done that” and can answer many of your questions as well as offer advice based on their own experiences.

Another step in the expat process is to make certain that you have made a realistic budget that takes into account the money you will need from month to month. Make certain that you also allow for the “unexpected expenses”; even in paradise these can and do arise when you least want or need them.  Planning ahead can make your transition that much less complicated.

Deciding to move to another country can be a daunting choice. The potential that you can discover when you make the move to Belize certainly will support the old saying:  “No risk, no reward.”

One of the biggest considerations for expats seeking to buy their retirement or getaway home in Latin America is the taxes on real estate. Comparing property taxes of the most popular destinations for expats is an important step to deciding the best location for your tropical retreat.

Once the decision is made to become an expat, finding a home in paradise will involve some research. Looking at the unique qualities of each country and the properties available is a great way to begin your journey.

Property Taxes

Tropical House in Paradise

Comparing Property Taxes in Latin America Country by Country

Countries in Latin America have widely different approaches as to what real property should be taxed and when. Similarly, the calculations of property taxes can be confusing for expats trying to choose which location might be a good fit for their budget.

What follows is a brief overview, by country, of the tax structure for real property. This comparison will also include any taxes imposed at the time of sale or transfer of title as well as when payment of these assessments are due.

Property Taxes

Anoldent

Belize

Belize has a fairly straightforward approach to property taxes. For residential property, the tax rate will be between 1% and 1.5% of the value as set by the Department of Natural Resources. These are payable each year by April 1st at any Lands Department office. When looking for your Belizean retreat, making this calculation is easy.

Residents in Belize City can take advantage of a 10% discount if taxes are paid by March 31st There is a 25% discount on property taxes for Senior Citizens (over 65) that certainly is a great incentive for expat retirees.

Investors and developers of large plots of undeveloped land (parcels over 300 acres) are subject to a Speculation Tax. This tax is computed based on 5% of the undeveloped value of the property.

When a title is transferred, a transfer tax is collected as part of the buying process. There is no tax for values under $10,000; for values in excess of that amount, the tax is a flat 5%.

Property Taxes

Didier Baertschiger

Costa Rica

For all of the attention and growth that Costa Rica has experienced in the last decade, property taxes still remain as some of the lowest anywhere, including the U.S. The tax rate is 0.25% of the registered property valued as determined by the local governments or municipalities.

Some of the very large and high-end properties have been subject to a luxury tax based on such items as size, custom furnishings, and fixtures. These rates are still surprisingly low; in 2013 it was estimated that that this tax was in the range of 0.1% to .25% of property value.

Changes to the transfer tax of 1.5% may impact some buyers. While the percentage has stayed the same, the basis for the calculation (property value) cannot be less than the highest recorded fiscal value. Fortunately, this amount will usually be less than the market price of the parcel. With low tax rates, finding your home in the land of Pura Vida is still a great option.

Property Taxes

Casey

Ecuador

Ecuador has some of the lowest property taxes in Latin America. The tax rates are progressive from 0.025% to 0.5% of the value as assessed by municipal officials.

These values are considerably lower than the purchase price – often by as much as 25% to 75%. As a result, it is rare to pay over $400 in annual taxes.

There are also deductions and discounts that can appeal to expats. Homeowners over the age of 65 only have to pay half the amount of the tax assessed.

Additionally, deductions for mortgages to purchase or improve the property are possible. Ranging between 20% and 40%, these must be requested and cannot exceed 50% of the value of the property. Ecuadorian real estate may provide some of the most affordable options in the region.

Property Taxes

Waterways

El Salvador

El Salvador is unique in that there is no property tax assessed for owning real estate. Although there is no annual assessment, when property is transferred, a transfer tax is triggered.

The tax, paid as part of the buying and selling process, equals 3% of the value over $28,571.43 of the purchase price. Non-residents also are subject to a 25% capital gains tax when selling property unless the sale occurs within three years of taking possession of the property.

The El Salvadoran government is considering a tax reform package that would include a tax on property that does not have any productive function except for private leisure or recreation. This “luxury tax” would be assessed at the rate of 1% of the value over $350,000 even if the property has not been developed.

Whether or not this tax will be enacted is uncertain. Regardless, the great majority of expats will not be impacted because of the high dollar threshold of the assessment. Low prices enhance the attractiveness of the selection of properties available.

Property Taxes

Stefano Ravalli

Guatemala

Guatemala uses the cadastral value of real property to calculate the tax owed. The word “cadastral” refers to the extent, value of, or ownership of real property and is used widely throughout Central America.

Taxes are calculated in local currency (the Guatemalan quetzal) by local authorities.  When converted to U.S. dollars, it becomes apparent that these are quite reasonable for the great majority of expat residents. Below is a chart showing the tax rates:

PROPERTY TAX

TAX BASE, GTQ (US$) TAX RATE
Up to 2 million (US$255,428) 0%
2 million – 20 million (US$2,554,278) 0.20%
20 million – 70 million (US$8,939,975) 0.60%
Over 70 million (US$8,939,975) 0.90%
Source: Global Property Guide

As can be seen, there is no property tax owed on properties valued under $255,428. The taxes are due annually and are paid to local municipalities where the property is located. Searching for properties under this dollar amount may be easier than you might imagine.

Property Taxes

Chamo Estudio

Honduras

Honduras has one of the few property tax laws that permit 12 monthly payments instead of just a single annual amount. The tax rate itself is based on value assessed by the municipality and can be calculated at $3.50 per every $1,000 of assessed value.

For example, a property value at $100,000 would have a yearly tax of $350.00. Spread out over twelve monthly payments, each installment would be for $29.16. Buying property in Honduras with the ability to spread out yearly taxes is an attractive prospect.

As a result of new tax reforms that went into effect on January 1, 2014,  property transfers carried out by nonresidents are now subject to an increased 4% (previously 2%) withholding tax over the transfer value to be withheld by the acquiring party.

One important feature of the Honduras tax scheme is the incentive program for projects or plans that would increase tourism to Roatan. Under this program, property taxes may be given a 20 year exemption. This is a powerful incentive for investors looking for a location to develop and build.

Property Taxes

Chris Goldberg

Mexico

Mexico was the first Latin American country to attract expats. The older expat enclaves, such as Puerto Vallarta, have demonstrated the potential for living and investing in Central and South America. Mexico still has a great selection of properties and lots to interest expat buyers.

Property taxes in Mexico vary from state to state. Each state’s tax department sets the assessed value and the tax rate can range from 0.05% to 1.2%, depending on the property location.  Other variables such as whether the lot is improved, if there is poor access, and if it is only used seasonally also factor into the assessment.

The assessment itself is done at the time of sale or transfer and will remain the same until the property is sold again. The taxes are due at the beginning of the year although the tax amounts are not available until mid-January of the year they are due. Since tax bills are not sent out, it is up to the property owner to go to the tax office with a previous bill to obtain the current one.

Payments can be made in six installments during the first ten days of every second month; ( i.e. January, March, May, July, September, and November). Failure to pay the taxes when due can result in steep penalties; in some cases as high as 3% for every month the payment is past due.

Mexico also charges an acquisition tax on every transfer of real property regardless of whether it is through a sale, donation, trust, or other method. The rates can range from 2% to 3.3%, again varying by state and is owed as part of the transfer process.

Property Taxes

Daniel Fajardo Valenti

Nicaragua

Nicaragua has, perhaps, the easiest property tax scheme in Latin America.  The tax is a flat 1% and are calculated at 80% of the cadastral value of the property (land, buildings, and permanent improvements) as assessed by the local office.

In the city of Managua, the calculation is slightly different. There the figure is based on 80% of the cadastral value LESS 40,000 Nicaraguan Cordobas (NIO); roughly equaling $1,624 in U.S. dollars.

Since there is no up-to-date national registry for property values, property taxes are less important than in other locations. With a lack of proper records, many small communities do not even collect the taxes which has led some to view paying them as a voluntary, rather than mandatory, act. Many of these smaller towns and villages have attractive and unique properties that are worth a look.

There is a 30% capital gains tax assessed on property sales. Again, this is based on the land value and not the sale price.

Property Taxes

Bocas Del Toro

Panama

Panama is unique among the countries in the region in that the property taxes are national and are collected by the Ministry of Economics and Finance. The tax rate is a maximum 2.1% and is based on the assessed value – usually the declared value in the original sale documents. Expats are increasingly interested in the homes and lots available here and the possibilities that Panama offers new arrivals.

The calculation is based on the value of the land plus the declared value of any improvements made. If a transaction is made for an amount in excess of this amount, that will automatically increase the value of the property for tax purposes. Payments can be made in three installments: April 30th, August 31st, and December 31st.

Property taxes are graduated depending on the assessed value. Below is a chart showing this breakdown: Value of the property                                     Property Tax Rate US$ 0.00 up to US$ 30K (exempted)                    0% US$ 30K up to US$ 50K                                        1.75% US$ 50K up to US$ 75K                                        1.95% US$ 75K and above                                               2.10%

Condominiums, however, use a slightly different formula:

Property Tax Rate for Condos:

Value of the property                                 Property Tax Rate US$ 0.00 up to US$ 30K (exempted)             0% US$ 30K up to US$ 100K                             0.75% US$ 100K and above                                    1.0%

The 20 year exemption on property taxes that was so attractive to investors ended in 2009. That program has been replaced by a revised set of exemptions:

  • 15 years Up to US$ 100,000.00
  • 10 years From US$ 100,000.00 to US$ 250,000.00
  • 5 years Above US$ 250,000.00
  • Commercial Use/Non-residential improvements have 10 year exoneration regardless of the property value

Lastly, Panama does have a transfer that is the greater of a) 2% of the total sale price or; b) the declared value of the parcel plus the value of improvements plus 5% for each year the property was owned.

A Brief Note on U.S. Property Taxes – Paradise Is Cheaper!!

While the various property tax schemes throughout these tropical locations may seem confusing, there is one important element to keep in mind:  U.S. property taxes are higher!!!

22 of the 50 states have median property taxes in excess of 1%. New Jersey is the highest at 1.89%. When combined with other property-related taxes and fees, the overall cost of property ownership far outstrips most of the Central and South American locations expats desire. In a very real sense, paradise is cheaper and living there is easier now than ever before.

Viva Tropical Radio

Viva Tropical Radio

John Acott, long-time broker in Belize, tells you what is happening with Belize real estate.

Learn how much it costs to build in Belize, and where the top three places to live and invest are located. Also a major infrastructure change on the horizon that if it happens, will be something you need to know.

John is from San Ignacio, which is rarely covered, and from all accounts seems to be a tremendous value for living. Tune in to hear all this and more.

Listen to the show

You can listen to the show using the player above or grab it and listen on the go via one of the following options:

The Show Notes

John Acott’s website

Can you count on one hand (or with only one finger) the number of relaxing days when you’ve spent time alone this year? Are you at peace with your relationships? How would you score your creativity and peace of mind?

If you didn’t like your answers, you are not alone, literally! You are likely suffering from lack of solitude. Find a quiet place, free of distraction, and read this article. I’m going to explain why time alone can change your life.

solitude

Pete

The Power of Solitude: Why you need to spend time alone

Psychologists have diagnosed our technology-driven society “terminally out of touch.” Studies suggest that we’re not spending enough time alone–thinking, feeling, sensing, and observing our inner being. As a result, our personal relationships, our mental and physical health, our social skills and cognitive functions are all ailing.  If we spend more time alone, psychologists contend, we can drastically improve and enhance all of these areas of our lives.

You may be thinking, “Wait a minute, if I’m isolated and lonely, I’ll feel worse, not better!” If that’s the case, you should read on to better your understanding of exactly what solitude means.

What solitude is (and is not)

Isolation is not the same as solitude. Likewise, alone is not the same as lonely. When you are lonely, you feel a void inside, unhappy. In contrast, when you are in solitude, you feel content and happy. Maybe it’s on your own private island or in a bustling city. But rest assured, you can find it.

“Solitude” does not imply you have to camp in the wilderness for days all by yourself. It’s true you can create space to be alone, in the company of others. Just stop doing for others and focus solely on yourself for a period of time. Voila! You’re on your way.

Solitude can cure what ails you

“Tidal pools, empty fields, mountains, trees, and oceans evoke peace and contentment. Something sacred fills these open spaces,” says Psychologist Ester Buckholz, in The Call of Solitude, Psychology Today. “Meaningful solitude allows you to connect with others in a far richer way.”  Meaningful alone time, she says, “is a powerful need and a necessary tonic in today’s rapid-fire world.”

Are you ever irritable, but don’t know why? Next time you feel that way, take quiet time out to focus on your inner thoughts, feelings, physical sensations. You may be surprised what your insights reveal.

As you become more self-aware, you will become more curious and creative. When you find yourself in conflict with your spouse, friends, co-workers, or family, take time alone to reflect and contemplate. A few minutes of solitude can provide plenty of answers for what ails you.

solitude

Bronwyn May

Solitude is like a vacation.

Put work aside and make time to discover, relax, and recharge. Be creative and engage in activities that make you happy. “I’ve learned to create little islands of solitude in my daily life,” writes Kendra Kennison in her Oprah.com article, “Why You Must Have Time Alone.” The search for solitude leads to new experiences. Have you ever been on vacation some place that you didn’t want to leave?

Vacation time has inspired many people to purchase a second home in their favorite vacation spot, or to move there full time, searching for a place to escape–searching for a simpler life from the hectic world they live in. “A big part of being fulfilled and happy is in the choices you make. One of those decisions is where you spend your time,” says Josh Linnes, Co-Founder, VivaTropical.com.

Stepping out of society is good for the soul.

Are you feeling the need to escape from your frenzied world?  If so, you have a lot in common with most of our society today. The time you spend “wired” to others has most likely increased. Your outdoor time, and alone time, have probably decreased. I’m willing to bet your modern life has most definitely become more complicated.

Once you learn to enjoy purposeful solitude you will experience cognitive benefits, like enhanced focus, memory, creativity, and concentration. Some studies suggest that time alone can result in lower rates of depression and increased self-esteem.

solitude

Craig Sefton

Where you can find it.

As you can see, finding solitude is more about your state of mind, not your actual physical location. Although a change of venue, particularly to someplace quieter where you can be in tune with nature, can certainly help. Here are some examples of where you can find solitude:

  • In a crowd. Take an art walk through the city by yourself.
  • With your spouse. Reflect, imagine, contemplate–while your spouse reads a book.
  • At the computer. Research a new interest. Seek inspiration and knowledge.
  • In creativity. Draw, paint, sketch, write, learn a new language, a new instrument.
  • In travel. A local destination, Panama, Costa Rica, Belize? Go relax, recharge.
  • In nature. Pull up a rock, stick your feet in the water, and listen to the unique sounds.
  • If all else fails, you can always buy an island.

Hopefully these ideas will inspire you to find your own place of solitude. For business partners Park and Josh, their quest for solitude was a little bit more radical. Disgruntled with life in the U.S., they left it all behind. With families in tow, they set out to find a fortress of solitude in Latin America, and ended up buying an island. They can tell you precisely Why Island Living Isn’t Right for You (Or Is It?).

Certain that there might be other like-minded individuals who were searching for the same opportunity to slow down and get back to the basics, Josh and Park began working on their Adventure Colony concept. “Adventure Colonies are meant to be an escape from the rat race and encourage new, daily routines. Simplify your life, increase your relationship with the outdoors, and recharge your mind and body.”

If you feel the need to escape, relax, recharge, you might want to carve out a regular place you call home. Download our book to read more about Adventure Colony. It’s free.

Find your own fortress of solitude.

Have you ever joked around about having your own island, as if you were a James Bond villain or a billionaire business mogul? Well, the idea isn’t nearly as far-fetched as you might think.

Whether you’re looking to retire in beachfront luxury or completely drop off the grid, you can do it on your personal Central American island. And by buying an island in Belize, you can really have your cake and eat it too.

How so, you ask? Belize has proximity to the States and an easy learning curve for expats, as well as 450 islands, many of which are available for purchase. You can feel like you’re in the middle of nowhere and still be just a short plane ride away from friends and family.

Here’s a peek at what makes the idea of buying an island in Belize so attractive and what you should be taking into consideration if you’re thinking about island living.

Elaine

Elaine

Buying an Island in Belize: the Basics

Before you even set a toe on any property, spend some time thinking about why you’re interested in an island residence and how you picture yourself living day to day. Are you envisioning a turnkey estate with a swimming pool, caretaker, and nearby neighbors or an undeveloped slice of jungle that you can shape, however minimally, into your own respite from the world?

In Belize you could have either, but it’s a matter of whittling down your needs and expectations, especially if looking at uninhabited islands.

You can read a more detailed analysis elsewhere on the site, but a few questions to ask out of the gate are:

  • Are you interested in buying a home that’s already constructed or building your own?
  • If you buy a house that’s already standing, are you willing and able to make renovations to it for aesthetic, functional, or weatherproofing reasons?
  • What kinds of daily needs do you have? Could you live an hour or more from the mainland and get by with a boat drop of catch-as-catch-can supplies, or do you have certain dietary needs or medications you must have on a schedule?
  • What are your utility requirements? On an island, you can run the gamut from no electricity to generator power to solar panels, or even an established power grid. Are you ready for satellite Internet? Pumping your own water? Be realistic.
CameiliaTWU

CameliaTWU

Living in Belize

Belize is so close to the U.S. by plane that it’s easy to pop down to see why it’s so popular. The first thing you’ll notice, even from the air, is that it’s a small country (under a half-million people) with a huge amount of coastline. Preserving the environment is a major priority there, and it shows. With the Mesoamerican Barrier Reef in its backyard, Belize is a huge destination for divers and snorkelers.

Another reason Belize is such a big draw for expats is that it is an English-speaking nation, having formerly been British Honduras until 1981. All legal documents are in English, as well as schooling–great if you’re moving with young kids.

The Belize dollar is tied to the U.S. dollar at a 2:1 ratio, so you won’t see any wild fluctuations in the currency there like you do in certain South American countries. Belize’s stability extends to the political spectrum too; this peaceful and democratic country is known for being particularly solid in that regard.

WWolf4Max

WWolf4Max

Investing in Belize

Unlike some other countries, Belize makes it quite easy for foreigners to buy property there. In fact, there are no restrictions at all on foreigners buying property, including beachfront land, which is highly unusual.

While there is a 5% transfer or stamp tax on property purchases, this is offset by very low property taxes. This is in keeping with the extremely low overall cost of living there.

In spite of the reasonable living expenses in Belize, it continues to be a prime off-shore banking location, and it offers relatively high interest rates for those looking for a viable alternative to the U.S. stock market. When compared to the Bahamas, Belize has all of the investment advantages with a significantly lower cost of living.

Currently, real estate prices are low, but demand is increasing, and there is a large influx of European investors growing each year. This is an advantageous time to buy, as property is likely to go up in price steadily over the remainder of the decade.

JParker2005

JParker2005

Getting Your Ducks in a Row

If buying an island in Belize sounds intriguing to you, the first thing to do is head south and check out the range of habitat and lifestyles there and see what appeals to you. Be sure to get past Ambergris Caye, which is a luxurious vacation destination, but just the tip of the iceberg as far as true Belize culture is concerned.

You can enter Belize from the U.S. and many other countries with just a passport. If you plan on staying longer than a month, however, you’ll need to get a tourist visa. And if you want to become a resident, you’ll need that six-month visa as a place to start.

Let’s say you fall in love with an island and decide you want to make a purchase. Here are a few things to think about before making anything final:

  • Does the seller have the legal right to transfer the property and documentation thereof? You want a clean title with your purchase.
  • Does the government have any rights to beachfront land?
  • Are there any current tenants or squatters that could make legal claim to the property?
  • Can you obtain a full legal inspection of the property?
  • What kind of infrastructure is there already, if any? Is there a fresh water spring? Access for landing boats?

While Belize law follows British Common Law and is substantially easier to understand than that of many other countries, it’s still imperative to get legal advice from someone who knows the local law inside and out. When land rights and your entire potential retirement are involved, you can’t be too careful.

If you haven’t decided yet whether or not Belize is for you, don’t worry–there are thousands of other islands for sale to tempt you throughout tropical Latin America.

And if you do end up buying an island in Belize, you’ll be in good company. Leonardo DiCaprio purchased 104-acre Blackadore Caye nearly ten years ago for the surprisingly low price of under two million dollars. He’s working with a well-known hotel chain to turn his island into an eco-resort to rival anywhere else on earth, which shouldn’t be difficult given the stunning scenery and balmy year-round climate of beautiful Belize.

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