The Caribbean island of Ambergris Caye is not only a wonderful vacation destination it also attracts foreigners that settle there after retirement from work in their home country.
Ambergris Caye real estate is very affordable, and when combined with the relaxed pace of local life, the low cost of living, the islandÂs beautiful surroundings and the abundant water sports, it is easy to understand why this relatively small and easily accessible island is so attractive to investors in real estate, whether for permanent residency or to generate rental income.
Tax Breaks for Retirees
The Belize government actively entices potential incomers by offering tax breaks for those wishing to retire to the country.Â They have been so successful that almost sixty percent of the inhabitants of the island have moved there from another part of the world.
The governmentÂs retirement program offers tax-free living, as income generated from outside Belize is free from taxation.Â This includes earned income, and also incoming funds from pensions being paid by other governments or institutions outside Belize.Â Because of Great BritainÂs historical associations with Belize, the island is particularly popular with the BritÂs who are major purchasers of Ambergris Caye real estate
The Laws and the Legal System of Belize are Modeled on the British System
This makes buying real estate a straightforward process as the legal documents are drawn up in English. The transaction is also completed in English, which makes life much easier and the formalities more understandable.Â The visa system is also uncomplicated and delays in obtaining the necessary documentation are unlikely to occur.
You do not have to be a retiree to move to Ambergris Caye, however, if you wish to become a permanent resident there is an age qualification of 45 years.Â Another prerequisite is that a monthly deposit of $2000 or more must be made into the local banking system.Â If preferred that sum can be paid as an annual deposit.
If you wish to bring larger possessions, such as a car or your boat onto the island, import duties are only payable if the value exceeds $15,000.
San Pedro Town is the Main Settlement on Ambergris Caye
It is in a picture postcard setting with waving coconut palms and the inviting warm waters of the Caribbean are close at hand. Facilities for vacationers are first class and there is not the frenetic and crowded feel of some other Caribbean destinations.