Expat Belize
For those looking for a tropical paradise to call home, Belize is one of the top expat destinations. Belize is a stable and secure country and while it offers a great climate, shopping and services, it also offers a low cost of living, making it very attractive to expats.
Climate
Belize has an excellent sub tropical climate. While Belize does have its humid moments, these moments usually don’t last that long and are hardly felt near the coastline. Belize also has the added benefit of receiving a southeast trade wind during the hottest month of July.
For the most part, temperatures in Belize range from the low 50’s to the 90’s with the average in the high 70’s to 80’s. During the colder months of November to January, expect highs in the mid 70’s with the possibility of chili nights in the 50’s, during the rest of the year, the temperature stays above the high 60’s.
Government
Belize was original known as British Honduras; the country today is considered a parliamentary democracy and still continues to be a constitutional monarchy under the British Crown. Belize is very stable and has a very good economy with tourism and natural resources as the top industries of the country. For Americans, it is very easy to enter and stay in Belize for up to 90 days with just a passport (no visa is needed). You can find out more information about Belize at the Embassy of Belize in Washington D.C.
Tax System
Belize is known to have a high individual income tax rate, the top income tax rate is 45%, however, the corporate tax rate is significantly lower at 25%. There are other taxes, including a Value Added Tax (VAT) and a stamp duty. Belize is not considered to be a tax haven for businesses; however certain companies and industries are pursued by the government and are given incentives to relocate.
Medical Care
Medical care in Belize is considered to be adequate, however for serious injuries or illnesses, you will need to be evacuated to the US or a nearby country with better facilities. Since Belize is located in Central America and has a sub tropical climate, dangerous bug bites and fevers such as dengue can occur.
For those that are residing in Belize, you can usually find clinics that cater to foreigners, while most request cash payments, it is good to have medical insurance, either via travel insurance or through a medical provider in case you need to be evacuated for care.
Real Estate
Real estate in Belize is usually more affordable than in the US or Western Europe, however you can find luxury beach homes if you so desire. Prices vary, but new homes usually cost about $40 to $80 per square foot and beach front lots can cost from $40K to 100K. Belize has very few restrictions on purchasing or investing in real estate and the laws are fairly stable making Belize a great place to invest or reside.
Shopping
Shopping in Belize is more than adequate for most. While you won’t find large malls or huge shopping districts, there are plenty of markets and stores to buy necessities and many smaller boutiques to pick up either designer goods or crafts.
Entertainment in Belize is focused on the tourist crowd; however those that love the outdoors and the water will be more than satisfied with Belize. Belize has plenty of beautiful beaches and coves where you can snorkel and sun bathe. The water around the Belize is great for scuba diving and fishing. There is plenty of nightlife, especially in the tourist centers of the country.
Cost of Living
The cost of living varies in Belize. You can live for as low as $500 or as much as $10K+ per month, it is really up to you. However, for a few thousand dollars per month, you can live extremely comfortable with all the luxuries in either a nice condo or home.
For the most, part the luxuries such as eating out, vehicles and housing will be the bulk of your expenditures, but unlike most Caribbean destinations, Belize gives you the choice of living on a lot or a little.
Belizean International Banks
The Central Bank of Belize licenses international banks under the International Banking Act.
International banks licensed in Belize include:
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