Aug. 3, 2011:
"Kathleen, I am very interested in your info and Belize Starter Kit, but I noticed you didn't mention such real-life challenges (problems) as tropical insects, diseases, and, especially, hurricanes. I prefer someone to be up-front about everything and not to gloss over real concerns just for your marketing purposes!
"What about this? Is hurricane insurance available?
"Keep it real!
"What are the odds of this showing up with your saccharine-gushing customer comments?
"I really am interested, though, but I need to be totally informed."
-- John E., United States
Yes, sir...Belize has hurricanes, insects, snakes, and tropical diseases...as elsewhere in the Caribbean...and as suggested here: Belize Warts And All.
Yes, you can insure against the hurricanes. Not, though, against the bugs or the snakes.
***
"Kathleen, could you please tell me what Tricare medical care is, how you get it, and roughly what it costs? This is the first I have heard of it. Is it accepted in Mexico,particularly around Guadalajara and the lake communities?
"After a recent visit, I believe that I will give the area around the lake near Guadalajara a try. Are there other private medical insurances accepted in Mexico, instead of the state-run insurance? Thanks so much."
-- Jim F., United States
Tricare is the U.S. health care program serving active duty service members, National Guard and Reserve members, military retirees and their families, and certain former spouses worldwide. To be eligible for Tricare benefits, you must be registered in the Defense Enrollment Eligibility Reporting System. Several different medical plans are available if you're eligible. You can find out more here:www.tricare.mil.
If you don't qualify for Tricare coverage in Mexico, several other good health insurance options are available in this country, including both Mexico-based insurance policies (what we call "local policies") and international insurance policies (for example, Bupa, www.bupa.com).
Our complete guide to medical insurance around the world is available here.
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San Pedro town, a former fishing village, is the center of activity and home to a growing expatriate community of North Americans and Europeans catered to now by dozens of restaurants, shops, art galleries, and community organizations. You could settle in here quickly and easily, as the language (like everywhere in Belize) is English.
The real estate market, for both buying and renting, is developed, meaning you have many options at all price points. You can buy a condo for as little as US$100,000 or invest up to US$1 million or more, and you can rent for as little as US$600 to US$700 per month.
Life on Ambergris is relaxed and friendly, carefree and sunny. Adopt this island as your home, and you'd enjoy most all services and comforts of home. And you'd certainly never want for like-minded company.
That's one face of Belize. Back on the mainland, life is very different.
Mainland Belize can be broken down into four zones: Belize City; the northern coast around Corozal; the southern coast around Placencia; and the interior Cayo.
Forget Belize City. This isn't a place you'd want to live. The city has a reputation for being poor, dirty, and unsafe...and that reputation isn't for nothing. I was in the city a month ago and found it cleaner and more pleasant than I remembered from my most recent preceding visit. You, however, seeing it for the first time, especially certain neighborhoods south of the river, might find the whole scene appalling.
But Belize City is not representative of mainland Belize.
Following the highway from Belize City south (this is one of but three highways in the entire country!) you come to Dangriga, Hopkins, Placencia and then, way down south, Punta Gorda. This is perhaps the most culturally diverse part of the country, home to the Garifuna, black Carib Indians known for their pounding and sensual song and dance. It's really something to see, alone worth a visit to this region.
Following the coast north from Belize City brings you to Corozal, where life couldn't be more laid-back. This is a part of the world where you can still arrange a home of your own directly on the beach with nary a neighbor around...if that's what you're in the market for.
The fourth face of Belize is my favorite. Inland, in the rain forest, is the Cayo District, a land of mountains and Mayan ruins, rivers and waterfalls. This is Belize's frontier, a land where a man (or a woman) comes to stake a claim and make his own way. The wide-open spaces of the Cayo appeal to the adventuresome and the independent. Living here, you'd enjoy lots of elbow room and far-reaching vistas.
You'd also enjoy a higher level of support than you might expect. I was surprised and delighted during my most recent visit to Cayo to find many more shops and services than existed when I was in this part of the world last.
I found my favorite haunts, including Eva's, the café and expat meeting spot in the heart of San Ignacio, Cayo's main town. Today, though, Eva's is hardly the only place for an expat to connect with his fellows.
Alas, development is coming to the Cayo. I acknowledge this with melancholy exuberance. Cayo is one of my secret favorite places on earth. Now it's easier than ever to spend time here more comfortably than ever.
I need to stake my claim now, I guess, before the market moves past me.
Kathleen Peddicord
Editor's Note: We'll introduce you in much greater detail...and with the help of local residents and experts in each case...to the many faces of Belize during our Live & Invest in Belize Conference planned for Nov. 14-16. And, for a limited time, you can register at a greatly reduced cost with the Early Bird Discount in effect. You can read full details of the program we're planning here.
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May 20, 2011:
"Kathleen, I've just begun your 52-day course. Thanks for your work in preparing this. My concern is that I am a Canadian. So far your charts and information seem directed specifically to U.S. citizens and based on U.S. regulations. Will there be any country-specific information provided when the time comes to do things like fill out forms for visas, health care, banking, etc.?
"The information provided so far has been great...very useful. I'm looking forward to the next 46 days!"
--Marianne M., Canada
In fact, the only difference for a Canadian student of my Retire In 52 Days how-to program versus an American student is to do with taxes. Yes, some of the tax information I present in the program has a U.S. focus, because Americans have a more complicated tax situation when they relocate overseas than anyone else. Canadians, for example, don't have to worry about taxes back in Canada once they move offshore.
However, we all face the same new in-country tax issues and obligations. Likewise, Canadians have the same requirements for residency visas and the same considerations regarding family, setting up businesses in the new country, buying real estate, etc.
In other words, with the exception of one day of the program, the course is relevant (and, I hope, useful) for anyone.
More information is here.Continue Reading:
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Second, I spoke with the developer, Phil Hahn, earlier this week. Phil reports that he's close to breaking ground on construction for the first house at Carmelita. This is good news in general (especially for investors to date). In addition, though, it means that the pre-construction window is closing. Phil explains that, within the next couple of weeks, he will stop offering the pre-construction lot discount that buyers have been able to take advantage of to date.
Live and Invest Overseas readers will continue to be eligible for their 10% preferred client discount. In addition, if you pay cash up front (while you wait for the titling process to be completed), you can take another 5% off the price.
And Phil is offering another 10% discount on the price of the lot if you commit to build a house right away.
However, the pre-construction discount will disappear shortly, and the other discounts will go away in the not-too-distant future, as well. However, right now, while Carmelita remains in the pre-construction stage, you can buy a lot for less than US$20,000 (if you agree to begin construction of a house immediately).
Why do I like Carmelita as much as I do?
Carmelita is 450 acres with more than a mile of riverfront and a spectacular view of the Maya Mountains. On one side of the property is rain forest; on the other is the Belize River. It is in this pastoral setting that Phil Hahn, with seven years of experience developing land and doing business in Belize, is laying out his "New Ruralist" community.
The plan is to preserve the 150 acres of rain forest, home to howler monkeys and native fruit trees, on the north side of the property, while incorporating a new village with room for organic gardens, micro-farms, and community agriculture.
The New Ruralism movement is becoming increasingly popular as more and more people are looking to live "off the grid" and off the land. This beautiful Belize River Valley is an ideal place to pursue this way of life.
Organic food and organic gardening are big and growing industries. Since 1990, the organic food market has seen average growth of 20% per year, and the organic sector of the lawn and garden market, likewise, has enjoyed stellar growth.
While many industries and sectors are struggling in the face of the current economic climate, this organic sector could continue to expand because of the down global economy. Current economic realities are motivating more and more people to look for ways to be more self-sufficient.
Price point is key, the critical element of any buy decision today. This is where Phil has a real advantage at Carmelita. Thanks to his low basis in the land, the availability of resources nearby, and the off-the-grid philosophy, home sites are priced from US$25,000 to US$45,000, depending on size and location, and you can purchase a small off-the-grid Garden Cottage for US$109,500.
As I mentioned, with the combination of discounts currently available to you as a Live and Invest Overseas reader, you can get into the lowest priced lots for US$20,000 or less.
The philosophy at Carmelita is simple. Phil is providing an affordable place for people to live a healthy and happy lifestyle. And he's launching this new opportunity at a time when these back-to-basics values have more resonance than they have had in decades.
The Cayo District, the region of Belize where the Carmelita community is taking shape, has quietly become the fastest-growing area in this country. The lush tropical rain forests you find here, the abundant fresh-water rivers, the largest underground cave system in the Western Hemisphere, and the fertile Belize River Valley once supported hundreds of thousands of Maya. Today the entire population of Belize is less than 350,000.
While there are still Maya villages in the Mountain Pine Ridge region, the friendly residents, both locals and expats, of the Cayo District come from all walks of life and diverse ethnic backgrounds. However, as Belize is a British Commonwealth, with English as its official language, it is an easy place to acclimate.
The Carmelita community will be powered by solar panels, and it will boast the latest eco-friendly septic processing systems. Traffic will be limited to human power (biking and walking) and golf carts.
The big-picture development plan is for sustainability...not eco for the sake of eco, but sustainable for the freedom that brings.
Personal independence is a critical part of the history of Belize. This country was founded by pirates, and it continues to embrace a freedom-loving approach to life and government. Bottom line, Belizeans don't like government. They don't like anyone interfering in their affairs. What they do like is minding their own business and living independently. These qualities are perhaps unexpectedly combined with a warm and welcoming hospitality. Phil has been inspired by that combination to design a community where, as he puts it, "People can be independent together."
The community overall is being conceived to operate as independently as possible. At Carmelita, you won't have to worry about power outages, because you won't be dependent on the local electric company. You'll know where your food comes from, because you'll be able to look out your window at backyard gardens and community fruit groves. Houses and other structures will be built from local materials, including the beautiful and exotic local hardwoods.
With more and more people looking to escape government control and intervention and to find options for living more independently, the timing for a community like Carmelita is perfect. And, again, Belize is an ideal choice if you're looking for a place to take control of your life.
Of course, as an investor in Carmelita, you don't have to buy into all of the premises and philosophy behind the design and the master plan. The important thing for an investor to understand is that there is a fast-growing and very viable market for this kind of independent, sustainable living community. The idea and vision behind Carmelita are very saleable, as is the riverfront location.
And the super-low price point makes this a very realistic option even if your budget is small.
For more information, get in touch here.
Lief SimonContinue Reading:
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May 18, 2011:
"Kathleen, I recently purchased your Live and Invest in France Kit and was disappointed by the lack of information concerning transfer of retirement funds from the United States to France. In particular, is there a mechanism for transferring IRA funds (and in particular Roth IRA funds) to France in such a way as to minimize the U.S. tax liability?"
--Jim N., United States
I'm not sure I follow the question.
If you're wondering about transferring your IRA to France for investment purposes, that's fairly straightforward. You set up a self-directed IRA (preferably what we refer to as a "checkbook IRA"). Our preferred resource for accomplishing this is U.S. tax attorney Chris Rusch (who you can get in touch with here).
If you're asking about transferring your IRA funds to provide funds for you to live off in France (that is, if you're thinking of taking a distribution from your IRA), again, that's a straightforward matter. You'd simply have your IRA wire the funds to your French bank account. The tax treaty between the United States and France (http://www.irs.gov/pub/irs-trty/france.pdf) would, to the best of my knowledge, eliminate any tax due in France on your IRA distributions, because they would be taxable in the United States.
Distributions of a Roth IRA are not taxable in the United States and therefore might be taxable in France (certainly distributions after you establish residency might be). I'm not a French tax expert and can't say with certainty what the tax implications would be in France for Roth distributions, but one of the legal/tax experts referenced in your "Live and Invest in France" manual should be able to help answer that question.
That said, one strategy might be to distribute all your Roth IRA funds before taking up residency in France. This could create a possible new tax issue on the growth of those funds after distribution. Without understanding your overall financial situation, it's impossible to say which strategy would be most prudent.Continue Reading:
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