To Invest In Belize or Not?
Is it worth investing on property in Belize? Most people are confused about this decision. But, believe it or not, Belize the small country located in Central America is a great place to invest.
Ambergris Caye, Belize, April 29, 2015 (Newswire.com) - Opening an international business venture or retiring to the tropical country – opportunities are endless here. The established government, a thriving tourism industry, easy access to North America, a good economy, and above all English as the official language, adds to its many advantages. Belize offers many investment opportunities such as:
• Vacation home: Belize is filled with cozy beaches, lush rainforest, islands, diverse cultures, the Mayan temples and many recreational activities. It is a great place to visit especially for those who enjoy the nature. There is so much to do here, that only one visit might not be enough to do all.
Demand for vacation homes has increased notably in the past years thus increasing real estate value. The cost of properties is reasonable and tourists can enjoy the paradise island with luxuries similar to home. There are many types of homes to choose from near within a preferred location. Investing in a property at Belize will prove very beneficial.
• Retirement property: Retirement is the time to relax and enjoy the activities that were missed out on while working hard to support and make a good living. Retiring in Belize is a great way to spend the remaining golden years. The affordable living as well as tax-free pensions will allows more money for exploring the paradise and enjoying the retirement days. Belize offers white sandy beaches, tropical rainforest and great flora and fauna which will be beneficial in any retreat. The international airport of Belize offers direct flight to many states of the USA making a trip to and from home easy and accessible.
• New Home: Belize is the only English-speaking country in Central America. Relocating to Belize will provide a chance to adopt a new lifestyle without having to learn a new language. Belize is a slow paced community with 15-30 minutes of commute as well as average 8 working hours per day – 5 days a week. The decreased working hours allows more free hours to spend time with the family or enjoy the adventurous sports of Belize.
While the tax rate of Belize is low, most Belizeans don’t pay income tax. The General Sales Tax (GST) on most items is only 12.5%. Property value is also low, unlike other developed countries. The property rates are even lower for those that choose to live outside the city limits. An average family (4 persons) can live on about BZ$3000/per month. (Note: US$ 1.00 = BZ$2.00)
• Business opportunities: Belize is a developing country and holds many business opportunities. The county lacks developed industries and its easy to initiate in any particular area, a thriving business. If investing in the already established industries is the plan, then tourism is the ideal choice. The tourism industry of Belize has many opportunities. The country has some of the best amenities such as restaurants, gift shops, tour companies, nature trails, diving shops and much more.
It is also a good time to make a mark in the Belize entertainment industry. The locals of Belize prefer to make long-standing business deals and investing in a new area will ensure long-term success.
Opening a small business venture with yourself working as the manager, janitor, or worker, or maybe opening a five-star resort, Belize has many opportunities waiting. Be aware that all businesses are obliged to pay a tax which depends on the type of business you are running.
For more information about business tax, contact the Belize Chamber of Commerce and Industry.
How can you invest in Belize?
Belize has five local banks as well as five international banks which aid in offshore banking to non-residents of Belize. The local banks are located throughout the country and the international banks work in accordance with the local banks that allows you to access your bank accounts from anywhere in the country.
Investing in Belize is a great way to make financial choices. Basic savings and demand deposit accounts should be readily available for anyone to keep track of their funds on their visit.
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