Since “Survivor” and “Temptation Island” put it on America’s radar, Belize’s white sand beaches, coral reefs, Mayan ruins and virgin rain forests have been attracting the attention of American retirees.
Not only is it one of the best values in the Caribbean for retirees, but it is also a safe, stable and welcoming country with a small-town feel. The sun shines year-round, everyone speaks English, the cost of living is affordable and establishing residency is easy. Here’s what you need to know about retirement in Belize.
Finding a Rental in Belize
When moving to Belize, consider renting a home rather than buying property. You can locate a rental property in Belize through real estate agencies where foreign retirees are generally most interested in living, including Ambergris Caye, San Ignacio, Placencia and Corozal. However, the best deals are usually found through word of mouth. Tap into a local expat community for suggestions.
Ambergris Caye rentals are among the most expensive in the country. Expect to spend $950 to $2,000 per month to rent an apartment and more if you want a view of the beach or to be in the center of town. A three- or four-bedroom family home on the beach close to town will rent from $2,000 and up, depending on the standard of the property.
It is possible to rent a one-bedroom house on the water in Placencia for $1,000 per month, although finding a rental in this part of the country can be a challenge, as inventory is limited. Corozal’s housing supply is also small, but some hotels offer long-term rates of around $500 per month.
One of the biggest advantages of life in Cayo, a district of western Belize, is how affordable it can be. You could rent a two-bedroom home in Cayo with a fenced yard for as little as $550 per month.
[READ: How to Retire in Canada.]
The Cost of Living in Belize
Despite being one of the better values in the Caribbean for retirement, Belize is relatively expensive by Central American standards. However, like anywhere, the cost of living depends on your lifestyle. The more familiar you become with how life works for locals, the lower your living costs can become. Many expats fall into the trap of living as if they are on vacation, settle in a resort-type setting and buy imported products.
Belize offers that lifestyle in places, particularly on Ambergris Caye, and that standard of living can be great if your budget supports it. However, if your nest egg is smaller, understand that the key to maintaining a lower cost of living is getting to know the local vendors, farmers and suppliers. With their help, you can access locally grown organic foods that are generally far superior to the much more expensive processed foods imported from abroad.
Buying Property in Belize
Like most of the world, Belize has no multiple listing service, making it difficult to know what you should expect to spend on the type of property you want. Look at as many properties as possible with as many different real estate agents as you have time to meet. Do not buy from the first agent you speak with.
In unregulated markets like Belize, listings are not shared. Each agent can show you only those properties he or she has listed. Further, the same property can be listed with more than one agent, sometimes at a different price.
Real estate agents are not licensed or regulated, and unscrupulous agents are not uncommon. In Belize, the seller is not legally required to disclose any defects in the property or the title to a potential buyer.
As a buyer, remember to consult an attorney for confirmation of a clean title. You should also engage an engineer or surveyor to inspect the property prior to signing a purchase contract.
[Read: How to Buy Property Overseas for Retirement]
Belize Dollars Are Pegged to the U.S. Dollar
The Belize dollar is pegged two-to-one to the U.S. dollar. Both U.S. and Belize dollars are accepted throughout the country. Real estate is generally rented and sold in U.S. dollars. Sometimes, shops and restaurants indicate whether their pricing is in U.S. dollars. If no preference is listed, you can assume prices are in Belize dollars and divide by two to determine the price in U.S. dollars.
Becoming a Legal Resident of Belize
When you arrive in Belize, you will automatically be granted a 30-day tourist visa. This tourist visa can be renewed every 30 days for up to 12 months. The cost of the renewal is $100 per month. Every time you renew the visa you may be required to prove that you are financially self-sufficient and show details of your accommodation within Belize.
After you have renewed your tourist visa for 12 months, you can apply for permanent residency. This allows you to live and work in Belize indefinitely. To qualify, you must show a current passport, documentation of financial means, background check and sit for a police interview. Once you have been granted permanent residency, you keep that status for life.
Belize’s Qualified Retired Person Residency Program
The second option for establishing permanent residency in Belize is the country’s Qualified Retired Person program. The QRP can be the quickest and easiest route to legal residency in Belize, and you can qualify as young as age 40. To apply, you must show that you receive a pension, annuity or regular payment of $24,000 per year or that you have enough assets to support yourself otherwise. You also must produce an FBI background check and pass a medical check.
To maintain QRP status, you must be physically present in Belize at least one month per year, and the required $24,000 must pass through a Belizean bank. You’re not required to spend the money in Belize but simply to deposit it in a local bank annually.
[Related:9 Countries That Offer Retirement Visas]
Infrastructure in Belize
The infrastructure in Belize is basic but sufficient. There are four paved highways in the country. The Philip Goldson Highway, formerly Northern Highway, runs 95 miles between Belize City and just north of Corozal and the Mexico border. The George Price Highway, formerly Western Highway, runs 81 miles between Belize City and Benque Viejo del Carmen near Guatemala. Hummingbird Highway runs 55 miles from Belmopan to Dangriga, and the Southern Highway runs from Dangriga to Punta Gorda.
Cellphone and internet service are ever-improving and wider spread. Cell service is provided by Digi and Smart. Cable TV is available in most of the country. If you plan to live in a remote region of the country, consider satellite TV.
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How to Retire in Belize originally appeared on usnews.com
Update 06/16/25: This story was published at an earlier date and has been updated with new information.
