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Belize: A More Stable Investment than Costa Rica - 31 January 2010

When overseas investors consider buying a home in Central America, they often think of Costa Rica. Most have forgotten about Belize.

Belize has been the secret vacation and retirement spot for American and British expats for years. Naturally, Belize is attractive—it boasts the second largest barrier reef in the world and the climate is generally warm all year round—but what’s really driving foreigners to the Central American country is the quality of life.

While Belize is not a highly industrialized country, its infrastructure is improving, and their offshore financial services industry is well regulated and supported by the government. Also, since Belize is still an independent member of the British Commonwealth, its legal system is similar to the Brits’.

Belize also has a very generous tax system. Because they are no capital gains or inheritance taxes in Belize, their taxation framework encourages international business and investment. Also, if qualified, retired persons, even retired expats, can live tax free under the Retired Persons’ Incentive Program, which has been so successful that the government is considering scaling down incentives. Therefore, now is the time to consider a permanent move before new rules are announced later in the year.

Real estate experts are also advising Brits to buy property overseas now while the global economy recovers and the British pound gains strength. While prices are generally cheaper in Costa Rica than in Belize—especially in more lush, underdeveloped areas—a half-acre of land in the Cayo District nature reserve, protected as part of the Belizian rainforest, costs £20,000. Villas go for £72k for a one bedroom and £84k for a two.

 

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