Who wouldn’t want to retire in Hawaii?
Tropical climate, sandy beaches, rainforests, volcanoes, friendly locals, diverse cultures, delicious food. Hawaii has it all. There’s just one problem. It’s also extremely expensive – putting it out of reach for most retirees. In fact, Hawaii ranks #1 among the most expensive places to live in the United States. The cost of living in Hawaii overall is 86% higher than the national average, and the cost of housing in Hawaii is even higher – 207% above the national average.
Wouldn’t it be nice to retire in a place like Hawaii but without the price tag?
Well, there is. Belize and, in particular, Ambergris Caye, were recently cited by gobankrates.com as one of the top 5 alternatives to Hawaii for retirement because of its affordability. Known for its mesmerizing Barrier Reef, Ambergris Caye in Belize presents a Caribbean paradise with a relatively lower price tag. The English-speaking nation provides retirees with easy accessibility to local communities and conveniences while indulging in island life.
Word is finally getting out on what we’ve known all along – that Belize is our Hawaii but without the cost. Even better, English is the spoken language and the laws of Belize make it easy for expats to retire and transition to life in Belize. I would even argue that it has advantages over Hawaii, besides the relatively low cost of living.
Here are some key highlights of what makes Belize a more than worthy retirement alternative to Hawaii:
Retiree and Tax Friendly…
Belize has one of the world’s best retiree programs. Through the Qualified Retired Persons (QRP) Program, the government grants qualified retirees residency and gives them an exemption from taxes on all income derived from sources outside Belize, whether such income is earned or passive, and whether or not it is remitted to Belize. The only major requirements are that you must be at least 45 years old and be able to show that you have adequate resources to deposit a monthly income of $2,000 or more per month.
In addition to tax benefits, qualified retirees can import their personal and household goods as well as a car, boat, and plane, without having to pay import duties or taxes on those goods that they import into Belize during their first year as a QRP resident.
English is the Official Language…
Just like Hawaii, English is spoken here. In fact, Belize is the only English-speaking country in Central America.
There is Still Privacy…
Belize is still relatively a hidden gem when it comes to retiring. This means that there is no oversaturation of retirees or expats in the country.
Friendly Locals…
Just like Hawaii, the locals are diverse and friendly in Belize. Belize is a melting pot. Although Belize was once a British colony, its population is diverse. Residents represent multiple nationalities and ethnicities, including Mayan, African, European, Chinese, Middle Eastern and East Indian. Despite multiple ethnic groups living under one roof, Belizean people live harmoniously with each other, which is reflected in their friendliness towards foreigners.
Closer Than Hawaii…
Belize is just a flight away and, in some cases, just a 2-3 hour flight away. With direct flights offered by American, Delta, United, Alaska, Sun Country, Southwest, JetBlue and Frontier Airlines from Dallas, Miami, Atlanta, Los Angeles and even Newark, traveling to and from Belize is convenient for both retirees and their families who want to visit.
Stable Government…
Belize has a stable, democratic government, with a stable and balanced economy. Its government is based on the British parliamentary system with its legal system based on British common law.
The U.S. Dollar is Welcome Here…
The U.S. dollar is accepted everywhere, including the physical currency, and the exchange rate is fixed 2:1 in favor of the U.S. Dollar (USD) vs. the Belize Dollar (BZD).
Tropical Weather…
The weather is amazing year round. There’s a rainy season from June to November, but the rain never lasts more than a couple of days. In December, temperatures may drop to a balmy 60 to 70 degrees (F), while in the summer it warms up to 90 degrees (F).
So Much to Do and See…
Belize is a wonderland for those looking for outdoor adventures as well as history buffs. With its diverse ecosystem; rich variety of flora and fauna; diverse topography that includes jungles and pristine beaches; clear water; scuba-diving spots like the Belize Barrier Reef and the Great Blue Hole; and Mayan ruins, retirees will have no shortage of activities in Belize.
If you’re looking for an alternative to Hawaii for retirement but without the high cost, consider Belize. You don’t even have to learn a new language. With so much to offer, make Belize your personal Hawaii for retirement.