The Advantages Of Foreign Residency In Belize
This Country Is Rolling Out The Red Carpet For You
Sept. 11, 2009
Ambergris Caye, Belize
PLUS:
- Spanish Conquistadores, British Pirates, French Engineers, Panamanian Presidents, Poor Squatters, And, Now, Gentrifying Gringos...
- Here's How Not To Get The Best Deal When Shopping For Real Estate In A Foreign Country...
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The Perks, Privileges, And Peace Of Mind
Of Retirement Overseas
The trouble with some Paradises is that they make it difficult for foreign residents to enjoy what they have to offer...
And yet others roll out the welcome mat, offering benefits, discounts, and other perks for foreign residents. Some countries are even competing to get your attention, offering tremendous advantages and benefits for you...
Whether you're moving for a better life...a lower cost of living...or a chance to keep more of what you earn and pay less in taxes...
This is the Next Step Guide you need to make your dreams of a new life overseas come true.
More Details Here
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Dear Live and Invest Overseas Reader,
"Initially, I was attracted to Belize by its natural beauty and environment, including the opportunity it offers for scuba diving and water sports," writes Correspondent from that country Ann Kuffner.
"Thinking back to when this country first got my attention, I realize that, then, I wasn't in a hurry. I had a lucrative career. I wasn't thinking of making an international move. Instead, my husband and I invested in a vacation home on the island of Ambergris Caye. For eight years, we traveled to Belize yearly, to relax and to scuba dive.
"I wanted to be sure before committing to something as dramatic as a move to another country. When I did think about the idea, I mainly considered living in Belize part-time.
"But then came 2008, and everything changed. My best friend and co-worker, a 50-year-old senior VP, lost her 'secure' management job. Would I be next? I knew the time had come for me to get serious about making a move, even a full-time one. As more financial and political landmines exploded around me every day, I began to plan my
escape.
"In the end, I chose Belize because it provided me with a safe haven in this difficult time. And moving here allowed me to retire eight years earlier than if I had remained in the States.
"Through Belize's QRP program, I obtained my residency in less than four months. That part was easy. The difficult part was making the decision to make the move in the first place.
"Now I live on 'Temptation Island.' Remember the 2001 Fox reality show? The Hollywood producers left Belize long ago, but the beauty and charm of San Pedro, Ambergris Caye, remain. This short-lived TV show provided great exposure for this little country!
"I moved to Belize as a QRP retiree, but I wasn't seeking 'retirement' in any conventional sense. My goal was and is to remain active and to participate fully in life. Now I'm involved in an athletic club on Ambergris. It's easy to stay healthy here, especially as I can work out at the club most days.
"Perhaps the most important point to be made is that you don't need a big retirement account or income to live the good life here. My husband and I are living a great life, and we get by on much, much less than we were spending to live back in the States.
"As I packed my bags for Belize, I knew that the U.S. economy was in serious trouble. But it wasn't clear how bad it would get. I'm relieved to have escaped in June of 2008.
"Like everyone else, our investments and 401Ks have taken major hits. But my husband and I will be OK. The cost of living here is very affordable. And the banks are secure.
"If all you know about this country is what you saw on 'Temptation Island,' you're not alone. Belize remains seriously under-appreciated. This is a small country, with a population of fewer than 350,000. It gained independence from Britain in 1981. The government is stable and democratic.
"Perhaps most interesting: English is the official language. That sure does make life easier.
"And, again, Belize's international banks are rock solid. This was a key requirement for my husband and me as we shopped for a 'Safe Haven' for ourselves and our money. Belize banks are required to keep 24% of their assets on deposit liquid at all times.
"Banking is the second-most-important industry in Belize. The first is tourism. This is a peaceful, eco-tourist retreat. There are more than 540 species of birds here, 4,000 species of flowering plants, and 700 species of trees. Nearly 40% of Belize is protected as parkland and nature preserves.
"Belize boasts the second-largest barrier reef in the world. This incredible underwater resource teems with colorful fish, coral, and unusual marine life. And, of course, the reef makes the waters off this country's coast a fisherman's and diver's paradise. Maybe you saw Matt Lauer's NBC Today Show special that highlighted the beauty and significance of Belize's reef system.
"The country also boasts the modern conveniences you need to live comfortably. Easy Internet access allows you to continue working, if you want, and it makes it easy to stay in touch with friends and family back home.
"Over the last 30 years, the number of Americans moving overseas has quadrupled. At least 3 million U.S. citizens a year are venturing abroad. Another 7.7 million are considering it. Taking sanctuary from the U.S. economic meltdown in a foreign country may seem like a huge step. After all, you have family, friends, and roots in your hometown. But you can take this in stages...you can make the move as you're comfortable.
"And you don't have to become a full-time expatriate if you don't want to. That's one of the best parts of Belize's QRP program. You can take advantage of the benefits it offers even if you spend only a few weeks a year in the country.
"Most North Americans realize that their quality of life is declining. At the same time, countries that once seemed remote are now within easy reach. And they have much to offer.
"We pay a high price to reside in North America. For many, the price has become too high. I'm one of those people.
"But I understand how intimidating the idea of relocating abroad can be at first. Again, that's a big part of the reason Belize makes so much sense. It offers one of the most user-friendly and most affordable foreign residency programs in the world.
"It also allows for a quality of life that, for my husband and me, is the biggest benefit of having made this move. I love the small-town environment here. We don't have movie theaters, galleries, and the sophisticated things you get in a big city. But the island is truly beautiful. We spend a lot of time outdoors.
"And we enjoy a rich social life. It is easy to get to know people, and there are many volunteer activities to get involved with. Music is big, as are festivals and special events. Most music is free, and everyone, it seems, is a musician..."
Kathleen Peddicord
P.S. Belize's QRP is perhaps the most user-friendly residency program in the world right now. You can qualify as young as 45 and with a monthly income of as little as US$2,000.
Furthermore, as a QRP, you could live in this beautiful, sand-fringed country tax-free...even if you're an American. More information here.
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A Miami Herald travel editor writes glowingly this week of Panama's City's old town, Casco Viejo, which, as he explains, has been home, over the centuries, to Spanish conquistadores, British pirates, French engineers (when the French came to Panama for their failed attempt to build a canal across the isthmus), Panamanian presidents, poor squatters, and, most recently, gringos and other investors committed to the renaissance of Panama City's most historic neighborhood.
We count ourselves now among the latter, having moved last month into a 150-year-old Spanish-colonial house on one of Casco Viejo's brick-paved lanes...
You can read more of the Miami Herald report here.
"Kathleen, we recently bought your information packet on Panama, which had a lot of valuable stuff in it. I was wondering if you had similar packets on Uruguay and Nicaragua?
"Also, I have looked at some of the realtors' websites for Panama, and the houses seem to be pretty expensive. Where are the less expensive ones?"
-- Don and Nancy Y., United States
Do we have a Uruguay Country Kit or a Nicaragua Country Kit? Not yet. Both are on the list, though, and in research stages right now.
Regarding how to find the best real estate bargains in any country where you might be shopping, resident global real estate investing expert Lief Simon replies:
"Looking on real estate agents' websites is precisely how not to find current property bargains anywhere in the world. What you generally find searching on the Internet and through most agents who speak English in any country are the high-end options...the top of the market...and the gringo prices. The assumption is that foreigners can afford to pay more than locals, so why shouldn't they?
"Your challenge as a shopper in any foreign real estate market is to balance the gringo-versus-local pricing issue with the standard of your purchase. If you're happy to go local 100%, sure, you can buy cheaper. But most Americans retiring overseas aren't prepared for what this means. Sub-standard fixtures and finishes, inconvenient neighborhoods, neighbors who speak only the local language, and sometimes even safety issues. For bigger, newer, and nicer in the more prime locations, you're going to have to pay more.
"Though not as much as you'll see quoted on property websites. No matter what kind of property you're searching for, the only way to find the best of what's available at the best price is to be on the ground yourself or to engage a local scout you trust. This is always true but never more so than right now, when, in many of the markets we recommend you consider, cash is king and sellers are hungry. Show up in person ready to talk turkey, and you'll be surprised somehow how quick and how far the price will fall.
"One final point: 'Expensive' is a relative notion. Few things are absolutely cheap; most are relatively so. To make the determination, therefore, you have to compare apples to apples, with regard to location (on the beach, in the center of downtown, etc.), size, and property type and features. Panama City is an international city on the ocean. Real estate here is comparable to real estate in Miami, not Omaha. True beachfront is not comparable to bay front or lagoon front or river front. Etc."
Lief and the 12 global property investing pros he's invited to join him in Panama next month for his Third Annual Global Real Estate Profits Summit will detail further where and how to shop in the current climate for the best deals in the most interesting (read, potentially profitable) markets today. Full details here. |
