Many American citizens opt to leave the US and start a new life abroad. Â There are many ideal destinations for this, with a lot of South American nations offering the perfect escape. Belize, surrounded by its beautiful Caribbean waters, is a great solution for those who like some financial perks when finding a better way of life.
For those considering buying some Ambergris Caye real estate or similar, there are a few financial factors that make the investment even more attractive. Â First, BelizeÂs economy makes living in the country extremely workable, even for those who havenÂt got a huge amount of savings. Â While it isnÂt the cheapest of places, those moving from US high salary areas, such as the West or East Coasts, will find bargain prices.
In addition, the cost of living varies considerably across Belize, allowing those who are relocating to find a suitable area. Â Popular towns and cayes are more expensive, while places such as Punta Gorda and Cayo Corozal offer a more affordable way of living.
Currently, Belize is also ideal for those wanting an offshore haven for their money. Â The nation provides secure and private asset protection for offshore accounts too, after having instituted laws in 1990 allowing non-Belizean residents to create an International Business Corporation. Â ThereÂs also the option to create a Belizean Trust to hold money in. Â When these offshore products are compared to other options, they often cost less.
If retirees are looking for somewhere new to live, then Belize is also a great option. Â Not only is life cheaper and the climate extremely conducive to relaxation, but there are some attractive retiree programs too. Â The Qualified Retirement Person Program was specifically created to meet the needs of North Americans desiring to retire. Â Individuals only have to spend one month in the country each year, and be 45 years old or older. Â ThereÂs also the requirement of a monthly pension or annuity income of at least $2,000. Â On this program, individuals can bring up to $15,000 of personal belongings to Belize without paying tax. Â In addition, no Belizean tax has to be paid on any income earned on foreign shores.