REAL Exclusive Magazine

Go Global ….  Seek Adventure in Belize

By Patricia Tan

Said to be one of Mother Nature’s best kept secrets, Belize is also known as an adventurer’s paradise.

Nestled between Mexico, Guatemala and the Caribbean Sea, and formerly known as British Honduras, Belize became independent of Great Britain in 1981. The country operates as a parliamentary democracy, and is a member of the British Commonwealth, the United Nations, the Organization of American States and the Association of Caribbean States.

Belize is often called the ‘land of many faces’ because of the wide variety of ethnic groups scattered throughout the country, who have blended harmoniously to form a people well known for their friendliness, especially towards visitors. Belize is unique as the only country in Central or South America to have English as their official language and this is certainly a bonus for many American visitors.

Many tourists will first discover Belize when they take a cruise through the Caribbean and stop at Belize City. The wise visitor, however, will linger in this interesting and welcoming country a little longer than cruise ships allow, and take time to discover Belize’s treasures outside Belize City.

Belize boasts many natural attractions. 185 miles of meandering barrier reef make Belize THE destination for divers. Visibility often exceeds 100 feet, and water temperature remains around 80 degrees Fahrenheit for most of the year. The reef has been named a World Heritage Site by UNESCO.  But the opportunity to meet with nature does not end at the barrier reef. Belize is also home to lush tropical rainforest that supports many species of birds and exotic flora and fauna. Having enjoyed the natural beauty and wildlife, visitors may continue their adventure and discover Belize’s rich Maya heritage through the many archaeological sites around the country.

Tourism in Belize has continued to grow in recent years with short (less than three hours), direct flights from several major U.S. gateway cities including Atlanta, Charlotte, Dallas, Houston, Miami and Newark. The Caribbean Island atmosphere engulfing southern Belize has made this region increasingly popular with tourists. From the Maya mountains, across miles of beautiful rainforest, to a broad coastal plain, this region has so much more to offer than clear blue waters and white sand beaches.

For investors, Belize offers a stable, early stage investment environment for real estate ownership and development. Its currency is pegged to the U.S. Dollar, with one US dollar equal to two Belize dollars. Home prices are attractive, and the familiar English language and customs give Belize an appeal beyond that of many of its Latin neighbors. An attractive combination of the opportunity for capital appreciation in a low risk environment. The United States is Belize’s number one trading partner and a major source of investment funds. Belize is also growing in popularity as a retirement destination for American and Canadian citizens in particular.

There are no restrictions on foreigners owning land in Belize. Currently there are no capital gains taxes or inheritance taxes, and rental income is taxed at the very low rate of 1.75%. There is, however, a 10% duty payable at the time of property purchase, but this is not unlike many other Caribbean countries. The property market in Belize operates a little more transparently than some other Central American countries. However, Investors would be well served to work with a team of local experts including an experienced real estate attorney and to spend time doing full due diligence on any real estate purchase.

The International Division of Prudential Palms Realty in Sarasota plans a series of educational seminars and introducing investment opportunities in Belize. Call Patricia Tan at 941-504-9232 for more information.

Patricia Tan was born in England, and moved to Sarasota in 1997. Her career afforded her the opportunity to live and work in many countries around the world, including Australia, Hong Kong, Singapore, Malaysia, Indonesia, Germany, France, Belgium, Netherlands and the United Kingdom. She spent five years as a Director of an American real estate franchise in England in 1990s. Patricia has served as Chairperson of Sarasota Association of REALTORS®’ International Council, and serves on Florida Association of REALTORS®’ International Operations Committee. She currently works as International Sales Director for Prudential Palms Realty. Patricia may be reached at 941-487-5107 or patriciatan@prudentialpalmsrealty.com.