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More Good News From Belize
In the 18 years since we first visited this country, we've joked perennially
that "the good news from Belize is...no news from Belize."
This is a sleepy Caribbean nation with but 300,000 people and three highways.
On the other hand, little Belize offers a whole lot of what many tourists,
retirees, and investors are looking for: sandy beachfront, both along its
mainland coast and encircling its offshore cays. Prices for a bit of sand on
Ambergris, the most developed of Belize's islands, are through the stratosphere,
and values along the mainland, especially south around Placencia and north at
Corozal, are following suit.
Still, Belize, both its coast
and its way of life, can be a great buy. We favor its interior Cayo
region, which boasts Mayan ruins, caves, rivers, waterfalls, and rain forest.
For non-Americans, Belize offers the opportunity for tax-free living. Legal
residency is easy to obtain through the country's Qualified Retired Persons
(QRP) program. Foreign residents pay no tax in Belize on non-Belize income.
Thus, be you British, German, Australian, or Irish, for example, you could
become a QRP and reduce your overall tax burden to virtually nothing...
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Belize at a Glance
| Population |
294,385 (July 2007) |
|
Gross Domestic Product (GDP) |
$2.336 billion (2007) |
|
GDP Per Capita |
$7,800 (2007) |
|
Inflation Rate |
2.8% (2007) |
| Currency |
Belizean Dollar (BZD) |
|
Exchange Rate Versus U.S. Dollar |
2
Belizean dollars per 1 U.S. dollar (Mar 2008) |
|
Languages |
English (official), Belize Creole English,
Spanish |
|
Capital |
Belmopan |
| Population of Capital
City |
12,300 (2004) |
| Time Zone |
GMT
minus 6 |
| Seasons |
Tropical; hot and humid rainy season
lasts from June to November |
|
International Dialing Code |
501 |
| Electricity |
110/220 V / 60Hz; Plug Types: B, G |
| System of Government |
Parliamentry Democracy |
Name and Party
Affiliation
of Current Leader |
Dean Barrow
United Democratic Party |
|
Income Tax Rate for Residents |
15%
to 45% |
|
Property Tax |
2%
to 9% |
|
Capital Gains Tax |
None |
|
Inheritance Tax |
None |
|
Rental Income Tax |
3% |
|
Transfer Tax |
3%
to 10% |
|
Sales Tax |
9% |
Restrictions on Foreign
Ownership of Property |
None |
|
Local Chamber of Commerce |
www.bcci.com
63 Regent St P.O. Box 291 Belize City Tel: 501-227-3148 |
|
American Chamber of Commerce |
|
| Primary Exports |
sugar, bananas, citrus, clothing, fish,
molasses, wood |
| Residency and Visa
Requirements |
Tourist Visa: automatic 30 days upon
entry, renewable for up to
6 months
Residency: visa extended every 3 months
for
people living in remote areas away from
the Immigration Office, potential
investors,
and business people
Citizenship: After 5
years of legal residency |
Special Benefits for Foreign
Residents or Retirees |
Qualified Retired Persons Incentive Act
includes tax-free import
of household goods,
including vehicle, boat, or airplane; no Belize
income tax |
|
National Airline |
None |
|
Preferred Contact |
|
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