Offshore investments are one of the most effective ways to get a good return on your dollar. Investing in Belize real estate provides all these benefits and more.
Belize is a small Central American country that is packed with an abundance of natural resources, beauty and attractions. Belize is home to some of the best scuba diving and fishing spots in the world, thanks to having the largest barrier reef in the western hemisphere within its boundaries. With tourism as one of the biggest growing industries in Belize, the country has been able to branch out in various specializations of the Tourism umbrella.
One such area of specialty is Medical Tourism. Because of the quality and affordable health care provided in Belize (ranging from dentistry to medicine to dermatology and more), many people are anxious to visit and those that permanently reside here enjoy such benefits.
Belize has much to offer its residents. Here are some benefits you’ll get to enjoy by investing in Belize real estate.
1. Easily own a second home
It’s easy to own a second home in Belize, specifically because of their affordable price tags. A nice home on the beach in Belize will cost you about $100,000 whereas a similar home in Miami Beach could easily cost almost $1,000,000. If you invest early, you can enjoy the vacation home of your dreams during your working years that will easily convert to your retirement home. Belize is popular with expats and retirees, who are looking for an escape from the years of hustle and bustle of urban living, because of its laid back lifestyle and “easy going” people.
2. Currency diversity
By investing in Belize real estate, you’ll be diversifying your wealth profile and stabilizing your net worth. Have you ever heard the phrase “never put all your eggs in one basket”? Well, you’re doing precisely that by only saving and investing in your home country. By investing in another country, you’ll be benefiting from added security for your money should one economy suffer a decrease in value.
3. Low cost of living
Belize is a retirement hot spot with expats because of its affordability. You can maximize your retirement savings in Belize and live on as little as $1000 per month without sacrificing much. The Government of Belize has also provided expats with a great retirement package, called the QRP, which provides immigrants with tax exemptions when retiring in Belize.
4. Privacy and tax benefits
When you own foreign real estate for personal use, and it is in your name, it is not mandatory to report it. Additionally, you can enjoy tax deductions for the cost of searching for and purchasing the property as well as some maintenance expenses on the property once it is for personal use. As always, it is best to consult a tax professional to get all the details of how you can enjoy tax deductions from your offshore investments.
5. Location
Owning real estate in Belize is very convenient to those who don’t plan on living in Belize year round. Belize is located a short plane ride from major airports in the US and is easily accessible to other major countries around the globe.
Because of its ideal location, Belize enjoys a sub-tropical climate all the time. This means that the average yearly temperature is in the mid 80’s with lots of sunny days, prefect for exploring the abundance of wildlife and relaxing on the many beaches.
6. Earn income abroad
Investing in Belize real estate can also provide property owners with an extra income stream. You can generate income by using the property as a rental when you’re not there, which will generate income in another currency denomination adding to your wealth’s currency diversification (see #2).
7. International asset protection
When you invest internationally, your investments are protected by the jurisdiction in which the assets are in. Investing in Belize provides added security for your investments. Although possible, it is highly unlikely that your assets will be easily accessed by a foreign government.
If you decide Belize real estate is the right investment for you, below are some helpful links to get the most of your investment.
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