{"id":34577,"date":"2020-04-30T07:54:33","date_gmt":"2020-04-30T11:54:33","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=34577"},"modified":"2021-10-14T12:20:21","modified_gmt":"2021-10-14T17:20:21","slug":"reasons-to-retire-in-belize","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/reasons-to-retire-in-belize\/","title":{"rendered":"Reasons To Retire in Belize"},"content":{"rendered":"

Reasons To Retire in Belize<\/strong><\/h2>\n

For much of its history, Belize was known as British Honduras\u2014a collection of beautiful islands in the Caribbean. When the country got its independence from British rule in 1973, it became popular as one of the safest offshore havens in the world and remained relatively untouched by usually destructive effects of mass modernization. Even now, the country is well-known as a tourist hub, low tax rates, and with the Belize real estate<\/a> market thriving, some of the best properties in the world are still available at a reasonable price. <\/span><\/p>\n

Among other things, Belize has also become the go-to retirement destination for people throughout the world. It\u2019s no surprise really, because when I compare the other countries I\u2019ve visited\u2014 Belize definitely stands out as a place for you to enjoy some rest and relaxation. From what I understand, the country has one of the highest expat populations in the world with a <\/span>near 50-50 divide<\/span><\/a> between locals and foreigners. <\/span><\/p>\n

There are plenty of reasons why you should consider retiring in Belize, but the most important one is that you need to think of an escape plan from the downturn that the Covid-19 will bring with it. Getting residency or even a Belizean passport is pretty simple, which makes it the ideal choice for people who want an easy way out of the instability that will probably plague us for the next few years.<\/span><\/p>\n

Besides the ease with which you can get Belizean residency, I\u2019ll also highlight some other reasons people, and you should retire there. <\/span><\/p>\n

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1. The Belizean Economy is Quite Sound<\/strong><\/h2>\n

I can\u2019t stress how important it is that you find a place to settle in, one with a stable economy. The Belizean economy is widely regarded as one of the most consistent ones in the world\u2014it\u2019s really not a surprise considering there are only a few hundred thousand people living here. The inflation\u2019s pretty low so the cost of living isn\u2019t high either and expats get to enjoy significant perks because they bring in foreign exchange that is pretty highly valued compared to the local currency.<\/span><\/p>\n

As it stands, the <\/span>currency is pegged at a 2:1 ratio<\/span> to the US dollar which will ensure long-term financial stability and a greater degree of control over your financial well-being. It\u2019s also, for this reason, people move here because when you don\u2019t have money coming in after retirement, it\u2019s nice to have that peace of mind where you\u2019re not concerned about FX fluctuations. Additionally, it helps at times like these that you find yourself a place where the government isn\u2019t injecting huge sums of money into the economy because unemployment is booming or getting into pointless, destructive trade wars at its whim.<\/span><\/p>\n

105: Offshore Banking \u2013 What You Need To Know – Luigi Wewege<\/a><\/p>\n

2. There Are No Language Barriers<\/strong><\/h2>\n

Typically, when you go to places like South America or Central America to retire, there\u2019s a lot of hassle associated with learning the local language. If you\u2019re in Brazil, you\u2019re going to have to learn Portuguese and it\u2019s pretty much the same thing with most other popular retirement destinations. While learning the language itself isn\u2019t that big of a challenge, the delays that this makes with respect to settling in can be an uncomfortable experience.<\/span><\/p>\n

The good thing about Belize is that people speak English there, making it easy for you to gel with the native population and navigate your way through the region. It\u2019s also a lot more comfortable for that reason because you won\u2019t have to spend time gesticulating at the nearby restaurant for the waiter to understand you or speak to the house help for hours before they get what you\u2019re saying. <\/span><\/p>\n

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3. Belize Isn\u2019t Very Far Away<\/strong><\/h2>\n

The accessibility to Belize is also one more reason why people choose to move here. The geographical location of the country puts it about 2 hours away by plane from the United States. People often move here because it gives you the advantages of living in a remote island paradise, without disconnecting you from the rest of the world.  You can just book a ticket and find yourself state-side within a couple of hours.<\/span><\/p>\n

This proximity makes it easy for you to manage your financial affairs in the US, keep up with family and just generally be assured that you\u2019re not stranded without any help. It\u2019s almost like having the best of two worlds where the island paradise and the thriving metropolis are both within your reach. <\/span><\/p>\n

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4. Really Low Tax Rates<\/strong><\/h2>\n

It\u2019s not news that Belize is a tax haven\u2014we all know how much drama this has created in the past few years. The country has one of the most convenient tax systems in the world\u2014with virtually zero taxes on your income. Some of the more salient features of the tax system include: <\/span><\/p>\n