Retire in Belize
For years, American and Canadian retirees have been moving to Belize in order to enjoy sunny weather, spectacular Caribbean views, and to explore one of the most ecologically diverse areas of the planet. Now, however, retirees have one more great reason to move to Belize – to save money.
In a recent article published by the New York Post, author Gregory Bresiger spoke to several retirees who chose to relocate to Belize in order to stretch their savings and Social Security income. According to the author, it’s now easier than ever to retire overseas because the internet makes it very easy to stay in touch with friends, family, and businesses at home.
According to the New York Post, approximately 500,000 Americans who receive Social Security Payments are now living abroad, a 25% increase from just two years ago. Destinations like Belize, where the American dollar is warmly welcomed, are top choices for retirees on a budget. It is also estimated that a retired couple can enjoy a high standard of living in Belize for $2,000 a month or less.
In addition, Belize is a popular choice for cost-conscious retirees because of the country’s extremely low tax rates. In Belize, non-citizen permanent residences pay no taxes on income generated outside the country. Belize imposes zero restrictions on foreigners buying, renting, or selling real estate, and there are no capital gains taxes. Even property taxes are low in Belize, usually no more than just 1.5% of the unimproved value of the land.
Belize is also a standout choice because its currently is permanently pegged in a 2:1 ratio to the American dollar, so retirees never have to worry about calculating exchange rates or sharp fluctuations in value. Add in Belize’s QRP program, which makes it easy for anyone age 45 or older with a fixed income to easily gain residency, and it’s easy to see why Belize is such a top choice for retirees.
And, compared to other similar destinations like Panama or Mexico, Belize has a unique advantage in that English is the official language. This makes it very easy for retirees to get settled in, read and understand documents, and talk to locals.
One of the most popular destinations for retirees in Belize is Cerros Sands. A true “community in the country,” Cerros Sands offers residents a stunning Caribbean beachfront setting with all of the modern conveniences and comforts.