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Life Isn’t So Taxing Under The Caribbean Sun
May 28, 2009Article by Ray Withers
Anyone wanting to lie back and retire to enjoy life in the sun should consider buying property in Belize – as the government is encouraging older people to retire to the country – and the good news is anyone aged 45 or over qualifies.After proving your age, you need to prove you earn at least US $1,000 a year and you’re in – and residence qualification covers any dependent relatives.
The real bonus is there is no income tax or anything you earn in Belize or any other country http://www.globalpropertyguide.com/Caribbean/Belize/Taxes-and-Costs. Another bonus is no local capital gains tax, so you can sell up in the UK and bank the cash tax-free, are exempt from tax in the UK as well as a non-resident.You can even take your car, light aircraft, boat and personal belongings duty-free and another duty-free car every five years after that.Getting to Belize is not a problem – regular flights go to major city destinations in the US as well as London.
As former British colony, Belize is the only Latin American country with English as a first language. The country also shares many political, legal; and cultural traditions with Britain as well.If you don’t want to retire, but invest in a resort property to let for tourism, the Belize tourist board has a major campaign to attract visitors.The next Bear Grylls SAS-style survival programme for TV is being filmed in the jungle. US and European travel magazines are also highlighting the country as an up-and-coming tourist destination.
Belize real estate is available through UK-based international property consultants Property Frontiers. That good life is found at the Belize Reserve eco community in Western Belize. The site includes a planned 20 to 30-room hotel due for completion at the end of 2009 and 350 half-acre plots making up several small villages for private housing.The plots cost £24,950. For a limited number of properties, the developer offers interest free 50% finance over five years.
The builder will put up your house at cost – about £34,950 on top of the plot price, depending on what you pick from the three designs. Other designs may be introduced as the development progresses. The community was awarded an ‘excellent’ kite mark from the independent whatgreenhome.com web site http://www.whatgreenhome.com/americas_page1.html – belizereserve.
Homes are totally eco friendly, built from local sourced wood. Solar power provides hot water and electricity. The sewerage system utilises anaerobic bacteria that is not only environmentally friendly but requires no electricity. The ongoing running and maintenance costs are predicted as minimal. Belize property is the fourth cheapest out of all the Caribbean countries.