Consider a Move to Belize or Retire in Belize
If you’re tired of the same old thing, trade it in for Belize! Belize may be the best place for you to move to for a number of reasons. If you love the beach, the sun, or the sea… Belize is pretty good. If you speak English and only English… Belize is pretty good. And if you are a diver, fisherman, sailor, or enjoy snorkeling… Belize is pretty good. This is an understatement, obviously. Let us help you decide to choose to live or retire in Belize!
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Cost of Living in Belize
First, the affordability of Belize is one of the reasons that is popular for retirees and young people alike. In most cases you should be able to retire comfortably in Belize for far less than the other countries. This is due in large part to the affordable real estate prices. Property in Belize is cheaper than in the US and many other countries you could retire in.
It’s important to note that the cost of living can vary based on individual lifestyle choices, location within Belize, and other factors. The following figures are approximate and subject to change over time in USD.
- Housing: Rent for a one-bedroom apartment in the city center can range from $500 to $800 per month, while outside the city center, it may be slightly lower at around $400 to $700 per month.
- Utilities: Basic utilities (electricity, heating, cooling, water, and garbage) for a small apartment may cost around $50 to $100 per month.
- Groceries: Monthly grocery expenses for a single person can range from $200 to $400, depending on eating habits and lifestyle choices.
- Transportation: Local transportation costs, including bus fares, may amount to around $1 to $2 per trip, with monthly passes available for a more economical option.
- Dining Out: A meal at an inexpensive restaurant can cost approximately $5 to $15, while a three-course meal for two at a mid-range restaurant may be around $40 to $60.
- Healthcare: Basic medical consultation fees may vary but generally range from $20 to $50.
Sources:
- Numbeo: https://www.numbeo.com/cost-of-living/country_result.jsp?country=Belize
- International Living: https://internationalliving.com/countries/belize/cost-of-living-in-belize/
- Escape Artist: https://www.escapeartist.com/blog/cost-of-living-in-belize/
Visit, Stay Long-term, and Retire in Belize
Next, you must consider your visa status. In Belize if you are U.S or Canadien citizen you could remain in Belize for up to a month without a visa. Afterwards there are different visas that they can apply for counting. Numerous expats apply for the Belize retired persons incentive program (QRP). The Qualified Retirement Program (QRP) permits qualified people age 45 and more seasoned and their families to move to Belize in case they have a steady annual wage of $24,000 or more.
Read more about QRP at Retirement Program | BTB (belizetourismboard.org)
Great weather and Health Benefits
Then, when choosing where to move you need to consider the weather. Living in a warm environment can offer numerous health benefits, promoting overall well-being and quality of life. Research has shown that warm weather can have positive effects on physical and mental health.
- Exposure to sunlight aids in the synthesis of vitamin D, essential for maintaining bone health and reducing the risk of falls and fractures in the elderly.
- A study published in the Journal of the American Geriatrics Society found that higher vitamin D levels were associated with better physical function.
- Additionally, warm temperatures can help reduce joint stiffness and pain associated with conditions like arthritis.
- The warmth also encourages outdoor activities and social interactions, fostering mental stimulation and emotional well-being.
- According to a study published in the Journal of Epidemiology and Community Health, living in warmer climates is linked to lower levels of depressive symptoms.
Overall, living in a warm environment like Belize can make your retired years much more comfortable.
Access to Quality Healthcare
Belize provides access to quality healthcare facilities, particularly in urban areas like Belize City and Belmopan. First, private clinics and hospitals offer medical services that meet international standards. This ensures retirees receive the care and attention they deserve during their golden years. Medical facilities here in Belize do not require people to have insurance for low cost or free medical services.
Next, a routine medical check-up or consultation with a general practitioner in Belize might cost around $20 to $50. The same service in the United States could range from $100 to $200 or more, depending on the location and healthcare provider. If you are to go to a public clinic it is free for everyone, you just need to show you’re in the country legally with your passport.
Similarly, more complex medical procedures, such as surgeries or specialized treatments, can also have substantial cost disparities. The cost of surgeries in the United States can be several times higher compared to Belize due to the use of advanced medical equipment, higher administrative costs, and healthcare facility charges. The price of staying overnight in facilities is substantially lower as well.
Retire in Belize: Good for your Wellbeing
Furthermore, if you choose to retire in Belize, you’re sure to have healthier eating habits. Most local produce is produced locally and organically. There’s a bounty of fresh seafood and locally produced meats to choose from. Belizean cuisine may not inherently be the healthiest, but without fast food chains and processed foods you’ll be eating food made with real ingredients.
Then, you also must consider the level of activity you’ll have access to in Belize. You can enjoy swimming, walking, biking, and being outside for most of your time. The warm sun and fresh salt air is great for your physical and mental health. Life in Belize is slower than your typical US city. This slower pace of life is also great for your wellbeing!
Stunning Natural Beauty in Belize
Prepare to be captivated by Belize’s breathtaking landscapes. From the turquoise waters of the Caribbean Sea to the lush rainforests teeming with wildlife, the country is a nature lover’s paradise. Retirees can indulge in a myriad of outdoor activities, from beachcombing to birdwatching, or simply bask in the splendor of Belize’s natural wonders.
Warm and Welcoming Community
Next, we can consider the people you’ll surround yourself in Belize. Belizeans are known for their warm hospitality and friendly nature. As a retiree, you’ll find yourself embraced by a close-knit and welcoming community that makes you feel right at home. Local traditions and cultural celebrations provide ample opportunities to connect with neighbors and forge lifelong friendships.
In Belize, the locals take all celebrations to the max. From elementary school graduations to birthdays, Belizeans are celebrating and enjoying the most out of life. Belize is a very warm and welcoming lively environment to live in.
Belize's Official Language is English
Now, one of the biggest considerations when moving is language barriers. For English-speaking retirees, Belize’s official language being English makes communication effortless. This eliminates the language barrier, allowing retirees to seamlessly integrate into the local community and access services with ease. Since Belize was a former British colony, the official language was established in English. Many locals of Belize also speak Creole and Spanish. This is one of the best reasons to retire in Belize as you can speak to everyone you meet from day one. In Belize, you’ll have an easy transition to getting services and making friends.
If you’re curious about the other languages spoken in Belize, read this article on the other Languages in Belize.
Diverse Expat Community
Belize boasts a thriving expat community, offering a sense of camaraderie and support for retirees from around the world. You’ll find an eclectic mix of expatriates who have chosen Belize for its unmatched beauty and the promise of a serene and laid-back lifestyle.
You can choose to have shorter leases and move around the country sampling different areas to see which suites you best. Ambergris Caye probably has the highest number of expats, but Placencia and San Ignacio are probably not far behind. Each district has a distinct feel, with the islands being busier than the mainland districts. If you’re wanting the cheapest area, look into Corozal.
If you’re looking for less community, you can find secluded properties miles from other properties and towns. Security, transportation, and road conditions is something to consider when choosing to live in rural areas.
Belize has a Favorable Tax Regime
Next, Belize offers an attractive tax environment for retirees. Foreign-sourced income is tax-exempt, making it an appealing choice for those seeking to stretch their retirement income. This tax-friendly atmosphere allows retirees to keep more of their hard-earned money for enjoying life’s pleasures.
Belize is known for its attractive tax laws and incentives, making it an appealing destination for individuals and businesses looking to relocate.
Some of the notable tax advantages that make Belize an attractive place to move to include:
- No Capital Gains Tax: Belize does not impose capital gains tax on the profits made from the sale of assets making it an advantageous location for investors.
- No Inheritance Tax: In Belize, there is no inheritance tax, which means that beneficiaries can inherit assets without incurring additional taxes.
- Territorial Tax System: Belize follows a territorial tax system, meaning that only income generated within the country is subject to taxation. Foreign-sourced income is not taxed in Belize, making it favorable for expatriates and businesses with income earned abroad.
- No Wealth Tax: Belize does not impose a wealth tax on individuals or businesses, providing financial flexibility and reducing the tax burden.
- Tax Exemptions for Qualified Retirees: Belize offers the QRP, allowing retirees to benefit from tax exemptions on income earned outside of Belize. QRPs can also import personal goods and vehicles duty-free.
- Low Corporate Taxes: Belize imposes a low corporate income tax rate.
- No Value Added Tax (VAT) on Services for International Clients: Services provided to non-residents are exempt from Belize’s Value Added Tax (VAT), which is set at 12.5%.
- Double Taxation Agreements: Belize has entered into double taxation agreements with several countries. This prevents individuals and businesses from being taxed twice on the same income.
- Offshore Financial Services: Belize offers a well-regulated offshore financial services sector, attracting international investors and businesses looking for tax-efficient structures and asset protection.
- Foreign Currency Transactions: Belize allows the use of foreign currencies for transactions, providing flexibility for businesses and expats dealing with international trade or investments.
Foreign Sourced Income
A Wealth of Adventure
The choice to retire in Belize is an invitation to embrace a life filled with adventures. From exploring ancient Mayan ruins to diving the world-renowned Great Blue Hole, there’s always something new to discover. Belize’s diverse landscape promises endless opportunities for exploration and lifelong learning.
As you embark on this new chapter, consider Belize as your haven for retirement. Its warm community, stunning landscapes, and affordable living make it an ideal destination to create cherished memories. So, why wait? Let Belize be the canvas for your retirement dreams and embark on an extraordinary journey of leisure, joy, and endless discoveries.
Visiting Belize? Stay with Drift Inn
If you’re considering moving to Ambergris Caye. Look no further than Drift Inn. Our comfortable and affordable accommodations provide all the necessities for your trip, including premium mattresses, private bathrooms, A/C, hot water, and WIFI. Plus, our convenient location on the island or in Cayo puts you just steps away from the beach and easy access to all major tour sites. We can be a base for your discovery of Belize while you make your future plans.
But we don’t just offer a place to rest your head. Drift Inn is a community of travelers who live to explore and make new connections. Our staff can organize tours and excursions, from trips to the Blue Hole to golf cart or car rental. And with opportunities to meet other guests at the bar, participating in tours, and gathering for live music, you’ll never be short of company. So, book your stay with Drift Inn and start planning your Belizean dream adventure today.