Belize is a safe, stable and friendly, English speaking country in the Caribbean. Buying property here is very easy, making it the ideal choice for investment or lifestyle.
Remote Worker
As more and more companies around the world are taking the decision to not require staff to ever return to the office, a seismic shift in how we live our lives is underway. If you no longer need to be near your place of work, then why not consider somewhere completely new? Living costs in cities are incredibly high. The heath and wellbeing benefits of fresh air, sunshine and warm weather are well known. Belize is therefore a perfect choice to consider spending some time away - for work, leisure or a combination of the two. With the recently announced digital nomad visa, it has never been easier to relocate here - whether it is for a week, a month a year - or more.
Qualified Retired Persons Program (QRP)
Belize boasts one of the world’s best retiree programs. Through the Qualified Retired Persons Program, the Belizean government gives qualified retirees an exemption from taxes on all income derived from sources outside Belize.
Foreigners are attracted by the low cost of living, slow-paced lifestyle, nature and water sports. Belize is the only Central American nation using English, not Spanish, as their first language - which is helpful when adjusting to living in a new country.
However, you don’t have to be retired—or even of retirement age—to take advantage of the QRP program. You must be at least 45 years old, be able to show a monthly income of $2,000 or more and comply with some other minor requirements. To keep your QRP status you must spend just one month of the year in Belize, non-consecutively.
Qualified retirees can also import a specified amount of personal and household goods without having to pay import duties or other taxes on goods up to the value of $15,000 - this includes a car, boat or plane.
Belize has always been a very popular destination for owning a second home, especially for people based in North America where the winters have been particularly harsh in recent years. A growing number of people are realising that Belize offers so much more than other Caribbean and Central American countries and yet is often substantially cheaper - both in terms of buying property and the cost of living. Annual taxes are incredibly low, English is the first language, the population is very friendly and it is very easy and affordable to get back to your primary place of residence.
Second Home
Taxes in Belize
Qualified retired persons (QRPs) are considered non-residents for purposes of banking, meaning they can set up a U.S. dollar bank account with a local or offshore bank in Belize.
They are also allowed to engage in gainful employment as long as most of their business activity takes place outside Belize and is conducted exclusively with non-residents of Belize. This is especially important for expats who wish to maintain a consulting business from their second home in Belize.
Investing in Belize real estate is a good idea for numerous reasons, not the least of which, there is no capital gains tax paid at the time of sale, nor is there any inheritance tax. From a real estate capital appreciation perspective, it does not get any better.
Other Advantages
Exemption from all local taxes and foreign exchange restrictions for international business companies (IBC)
Well developed financial services industry, telecommunications system and professional infrastructure
Common law legal system based on English law and stable political system with long history of peaceful and democratic development
Belize offshore IBCs are exempt from all local taxes including income tax, dividend tax, capital gain tax and stamp duty on transfer of corporate property, shares, and other corporate financial instruments
Belize offshore companies are not required to file tax returns or any other type of report or declaration to the government regarding sources of income
