Belize - A Small, Spectacular Country
Belize is part of Central America, but many people think of it as a Caribbean country, even a Caribbean paradise. Before becoming independent in 1981, it was British Honduras, and the legacy of the British is still apparent.
For one thing, this small, exceedingly friendly country has English as the official language. For another, the banking system in Belize is both sophisticated and solvent. It’s easy for foreigners to open a bank account, which could either be in your own name or held by a structure, such as a trust or a business. Banking secrecy is observed here and it’s possible to open an account without ever setting foot on the country. Banks here are extremely healthy, one reason being that they are required to maintain a liquidity rate of 24%. Recently, as banks were failing worldwide, not one bank in Belize failed. When it comes to mortgages, banks here lend only 50% of the value of the property.
Belize has still poverty, to be sure, but the overall economy is prospering. The growth rate has held steady at about 6% per year. The major industries are finance, tourism and oil. (Oil is supposedly being extracted in ways that preserve the barrier reef and the shore.) Inflation is at a low 1.4% per year.
Residency requirements are easy. Belize welcomes expats, including those not yet of retirement age. Internet access enables them to continue to work free-lance or operate small businesses. Affordable beachfront properties make it possible to enjoy diving, snorkeling and fishing near to home. Other pastimes here include horseback riding, enjoying the country’s biodiversity and visiting the spectacular Mayan ruins.
For those interested in learning more about living in Belize, there’s a “Live and Invest in Belize” conference scheduled for June 21 - 23, 2010. For more information, see www.liveandinvestoverseas.com/belize-conference10.