Belize Report

BELIZE REPORT:

My personal involvement with Belize began back in 1984.
Back then,it was a very different country than the Belize you will see today.
There have been not just leaps and bounds in the development of Belize but rather giant steps covering everything from roads,communications,building and methods of construction,transport
both private and public,hospitals and medical facilities both Governmental and private,business development,agriculture and last but not least,the Tourist industry.
Today,Belize ranks with Mexico,Panama,Costa Rica and Honduras in tourist attraction.

I have watched Belize develop and finally realized that it has everything to offer not only as a vacation destination but also as a retirement haven for those who want to get away from winter for a month or on a more permanent basis or even as a second home.

If you consider for a moment what it is that attracts you to a particular
place,several things come to mind.
You browse web sites or brochures or travel agents to get an idea which location best fills your requirements.
However,always in the back of your mind is the little voice that keeps saying ‘ hmmm..I wonder if it’s really like that’,or ‘I wonder if the accommodation is as portrayed’ or ‘ I wonder if we can buy land there’,or ‘what would it be like to live there’.

Where Belize is concerned you have first hand knowledge and answers to just about any and all of your questions supplied by someone who has spent 25 years living and working in Belize,namely yours truly.
My background is quite varied and as time goes by you will find out more on that but for the moment know that Construction is my business.I speak English,French and Spanish and am also a Private Pilot
although I haven’t done much flying since 2001.
My knowledge of Belize is extensive in all areas as is my list of contacts.If you have specific questions that I cannot answer I know who to go to for the correct information.

The information I have placed in the report below is factual and upto date and I have included links to services that I feel will have special appeal to everyone i.e. private medical and dental clinics and information on IBC’s,Trusts,Bank accounts and the like.
These links are not live and will need to be typed into your browser.

We will endeavour to cover every area of the country as far as vacation areas are concerned,highlighting what each area can contribute to your vacation and also which areas lend themselves to further consideration as retirement spots etc.

Belize fact sheet:
Belize is a small country of 8,867 square miles that sits on the northeastern coast of Central America. The friendly neighbor of Mexico and Guatemala, Belize shares an ancient Mayan past and common ethnic backgrounds with Central America. But it is the salty air drifting over from the Caribbean Sea that has infected the country with a colorful Caribbean flamboyance that can be seen through its distinct Colonial/Caribbean-style architecture, coconut-based dishes, white sandy beaches, laid-back ambience and its English and Creole dialects. Belize is in fact the only Central American country with English as a first language.

With approximately 270,000 people living peacefully in a secure political environment, enriched in diverse cultures, Belize is a premier ecotourism destination. Though small, Belize boasts the largest Barrier Reef in the Western Hemisphere, the famous ‘Blue Hole, three of the four pristine atolls in the Atlantic, over 200 sand islands, the only Jaguar Preserve in the world and over 500 species of exotic birds.
If that's not enough, Belize is home to numerous remains of ancient Mayan cities, some still undiscovered under the jungle's lush vegetation, majestic Maya Mountains that soar 3000 feet into the clouds, some of the tallest mangrove trees in the region, complex cave systems, the only pine forest (Mountain Pine Ridge) in all of Central America, and a unique and colorful cultural mix.

With its verdant rain forests and crystal clear waters, this young nation is located in the Western Caribbean and is bordered by Mexico to the north and by Guatemala to the West. Being such a small country, Belize boasts a surprisingly diverse terrain, much of which consists of dense rain forest. In the North West is the beautiful area of the Mountain Pine Ridge where a magnificent waterfall cascades 1000 ft into the forest below. In the South lies the Cockscomb Basin which is home to the only jaguar reserve in the world. Here visitors may catch a glimpse of this majestic animal. Overall, Belize is an unforgetable destination for eco-tourists and nature lovers in general.
The second largest barrier reef in the world is located off the coast of Belize, and a few miles out to sea are a group of Cayes or small islands, the largest of which is Ambergris Caye, a popular tourist destination. Outside the protective reef is the beautiful Blue Hole, a natural wonder created by a collapsed underwater cave once studied by renowned ocean explorer, Jaques Cousteau.
Belize is also home to an amazing array of flora and fauna. The national animal is the Baird's Tapir which resembles an elephantine hippopotamus, and the national bird is the vibrant Keel-billed Toucan. The flower of Belize is the delicate black orchid and the country is also home to endangered species such as the green turtle, the scarlet macaw, the three-toed sloth and the manatee.

Our Nation is a melting pot of many cultures, a nation of immigrants. With a population of only 205,000, there exists a surprising assortment of races: Maya, Mestizo, Creole, Garifuna, East Indian, Lebanese, German Mennonites and Chinese immigrants; a census revealed that Mestizos now outnumber the once dominant Creoles. The official language is English, however most Belizeans speak a dialect of broken English called Creole. Spanish is also a very popular language.
From its secluded beaches to its steamy rainforests, Belize is a country of diverse natural beauty. Its slow pace of life makes it a popular tourist destination, and cost of living is still low. For the more adventurous traveler, activities can include a trek into the jungle in search of Mayan ruins, spotting parrots, toucans, and maybe even a jaguar along the way.
It's true that Belize is no longer the most affordable place to buy property, but this country has other benefits: economic stability, a stress-free lifestyle, and a cost of living that is a very good value compared with the U.S. (or even other Caribbean destinations).

Why Should You Consider Buying Property in Belize?
Belize is still undeveloped and sparsely populated so there's a lot of room (on the beaches, in the jungle, in the rainforests...) for you to stretch out, and there are only three highways traversing the country (one goes north, one goes south, one goes west) and there are probably only 20 sets of traffic lights in the whole country.

Tourism here is booming. A dozen years ago, the planes from Miami to Belize City were full of Belizeans returning home from their visits to the States. Today, they are full of Americans.
We asked one person why she was moving to Belize."The simple answer is quality of life—we're looking to improve ours. In Belize, we know our lives will be blissfully free from the commuter crush, 24-hour news, workaday stress...Belize is a land of few cars, abundant fresh food from the sea and the trees, and great natural beauty," she said.
What makes Belize such a popular destination? They speak English. If you don't enjoy the idea of learning a new language but still want a place in the sun, then Belize is the place for you.

Where to Buy in Belize?
If beachfront isn't your first choice, maybe you would prefer being surrounded by the rainforest, mountains and rivers, or Mayan ruins and caves. For this, the Cayo remains the unsettled (and affordable) frontier. And it's a favorite part of Belize. Placencia,in the southern district of Stann Creek is a very attractive location to vacation and/or retire and is fast becoming the center of attention.
Although I will cover most areas of the country,my preferred area will be Placencia.Corozal Bay is also very attractive and is only 5 miles from the Mexican border in the north of Belize.
It is my plan to take up residence in Placencia at some point in the near future.

Cost of Real Estate in Belize
Though Belize has a top-flight offshore banking structure, beautiful landscapes, and an English-speaking population to recommend it, cheap property is not one of the attributes you'll find here. Though prices for real estate have not changed much in the last two years, they are nevertheless higher than what you'll find in Guatemala, Honduras, or Nicaragua.
Property prices vary greatly in Belize from one area to another. They generally are highest in Belize City, on Ambergris Caye, and in Placencia, and lowest in remote rural areas. Home prices range from less than $15,000 for a simple Belizean-style home in a small village to $500,000 or more for a luxury home on the beach in San Pedro.
Even with appreciation, real estate prices in Belize are still inexpensive by the standards of Americans and Europeans.

MEDICAL:
Medical care is limited. Doctors and hospitals often expect immediate cash payment for health services. U.S. medical insurance is not always valid outside the United States. In some cases, supplemental medical insurance with specific overseas and medical evacuation coverage has proven useful. For additional health information, travelers can contact the Centers for Disease Control and Prevention's.
Having said that,there are alternative medical/dental services that compare favourably with North America and at a fifth of the cost.
This I know will be of primary importance to most and you can type the following link into your browser: www.offshoredental.com

Schools:
Education is mandatory for children between the ages of 6 and 14. Elementary and secondary schooling is free and operated either through government or by one of the churches. A special, government funded vocational training center is geared toward students who couldn't finish secondary school. Courses and training vary depending on changes in the labor market.
Several vocational colleges also specialize in the fields of teacher training, craft and technical courses, agro-industry, and advanced technical fields. The University College of Belize was founded in 1986 and is the country's first institution of higher learning.
Investments:

The expansion of Belize's current export staples of sugar, citrus and bananas depends largely on the continued trade agreements with Latin America, Mexico, U.S. and the U.K.
Since 1993, the growing trade movement spearheaded by the North American Free Trade Agreement (NAFTA), prompted the Belizean Government and private sector to diversify the economy through promotion of non-traditional exports, such as exotic fruits, tropical hardwoods, aqua culture, and minerals.

According to a 1993 U.S. Embassy survey, more than 90 U.S. companies operate in Belize with a total investment in excess of $150 million. Of these investments, 35 percent were in tourism, 25 percent were in agriculture and aqua culture, 20 percent were in distribution (mainly fuel) and 13 percent were in light industry. In the service sector, plans are underway to develop Belize as an offshore finance center, as well as continue to actively promote the small nation as a prime eco-tourism destination.
The country hopes to form important trade ties with the active and diverse economy of neighboring Mexico. The Belize Mexico border Industrialization Program would create a temporary admission system for Mexican industrialist, allowing the nation to export final product components for their assembly in Belize. Talks are also underway to unite Belize Electricity Ltd. with the powerful Mexican network, in this way providing Belize with additional electricity.

Hot Investment Opportunities:
Promoting itself as 60 seconds to NAFTA - the time it takes to cross the International Bridge of Friendship into the neighboring NAFTA country of Mexico - Belize is poised for extraordinary investments opportunities. Belize's government and business leaders are forging innovative strategies aimed at accelerating its already impressive growth rate. Where traditional crops like sugar, citrus and bananas have long been the mainstay of the economy, this small Caribbean country in Central America is looking for new opportunities where its natural resources, work force and proximity to the world's largest trading block give it a natural competitive edge.

Sugar, citrus and bananas continue to be Belize's chief source of hard currency earnings. Sugar dominates exports, bringing in over 40% of hard currency earnings. Orange and grapefruit are the country’s second most important source of foreign exchange earnings especially in southern Belize. Growers produced more than 3 million boxes of fruit in 1994. The fruit is processed into frozen concentrate which currently enjoys duty-free access to the U.S. market. Citrus growers are modernizing orchards and expanding production, mostly for the high quality Valencia orange.
The banana sector has been one of the country's fastest growing agricultural areas and growers now produce more than 2 million boxes a year - all shipped to guaranteed preferential markets in the U.K.

More than a third of Belize's land, 2.2 million acres, is suitable for agriculture but only about 15% of this is under cultivation. The most dynamic opportunities in this sector are in papayas, ginger, commercial fruit crop production, and furniture and wood products. Shrimp farming is rapidly taking off and has already become the country's fourth largest hard currency earner.
Belize undoubtedly offers the serious investor a wealth of opportunities in a secure and stable climate with the best access to the world's most attractive markets in North America.

Banking
Banks are open on weekdays, Monday through Thursday from 8:00 am to 1:00 p.m., and on Fridays from 8:00 am to 12:00 p.m. and 3:00 p.m. to 6:00 p.m. There are four commercial banks that serve the country of Belize. Banks are open Monday to Friday from 8:00 a.m. to 1:00 p.m. and on Friday until 4:30 p.m.. All banks have branches in the six districts but services are more limited.You can use your ATM or Bank card at all Banks and Credit Cards are also accepted widely throughout the country.

For those interested in finding out about IBC’s,Trusts,Offshore Accounts etc,I have included the following link to Belize Offshore Services Ltd.
Although I have no affiliation with this company,David and I have known each other for about 23 years and I hope to be doing business with him in the near future.Type the following link into your browser.
http://www.bosl.com

FOREIGN OWNERSHIP OF PROPERTY IN BELIZE
It’s very easy for non-citizens to buy property in Belize as there are no restrictions on foreigners owning property here. Indeed, Belize is one of the easiest countries in Central America for foreigners to purchase real estate.
Take taxes, for instance. There are no capital gains taxes in Belize and property taxes, payable annually on April 1, are very low. A transfer tax, known as Stamp Duty, is paid by the Buyer upon closing. This Stamp Tax is only 5% of the property’s value, with the first $10,000 being exempt (e.g. if the purchase price is $100,000, the Buyer would pay tax on $90,000).
Also, a fixed exchange rate of 1 USD to 2 BZD provides the advantage of money market stability without the impact of fluctuating foreign exchange rates.
Plus (and this is a real plus), land title is based on the same system as in the U.S., Canada and the U.K., giving you fee simple title to your land.
Belize’s liberal retirement program, the Qualified Retired Persons Incentive Program, is touted as being one of the best in the world. Overseen by the Belize Tourism Board (versus the Immigration Department), foreigners aged 45 and over can gain special residence status. Several basic requirements have to be met including proof of income.
End Report.