The Cost of Living in Belize

[COUNTRY EXPERT ANN KUFFNER]

The cost of living in Belize is a bit higher than in neighboring Central American countries such as El Salvador, Honduras, and Guatemala. But the overall benefits in little Belize are more appealing, especially for expats from North American countries and Britain. The most obvious difference is that English is the primary language in Belize. Another is that Belize is a British Commonwealth country, with British laws. These two factors make the transition much easier than moving to a Spanish speaking country with a different governing structure.

In addition to the ease of language and comfort of a familiar legal system, Belize instituted several programs that offer expats considerable advantages. One of these programs is the Qualified Retirement Program. Actually, Belize is ranked in the top three expat retirement programs, with Ecuador and Panama.

As you peruse the Belize Insider website you’ll find articles about popular expat districts, as well as cost of living information. This info will allow you to evaluate which district is the best fit for you. Within Belize the cost of living varies greatly from one region to another. But there are still several regions where a couple can live comfortably for under $1500/month. Some expats even manage quite well on Ambergris Caye for $1500/month, even though it’s considered the highest cost region in Belize.

If you’ve already been to Belize, please share your thoughts and experiences on this Forum. For those who haven’t visited yet, remember to post your questions right here, on this thread. That way everyone can benefit from the answer!

Have a great day.

Belize Insider

[TERRY G.]

Hello all! My name is Terry, and I have been checking Belize out for quite some time as a retirement possibility! I hope to visit in either February, or March 2015. I had hoped that a friend was going to join me for this exploration, but I’m not sure that it will happen that way! I will do it alone if necessary, but would love to find a travel partner. I hope to find a place to live on my SS benefits, possibly open a small Cafe’, with maybe organic coffees, and baked goods. This is just a thought at this stage. I also want to be close (within a half hour) to scuba diving! I also have thoughts of a small farm in the future, where I can perfect my Permaculture design abilities. I would love to hear from you guys! Thanks….Terry

[GERALD ZGODINSKI]

Hello, my name is Gerald and my wife and I visited Corozal, Belize in February, 2013. I am a bit confused about the QRP program and how one qualifies. My understanding is that if one can show an ongoing monthly income(S.S.. 401K, etc…) of at least $2000 they can qualify. The confusion comes in whether that is per person or per family. If my wife and I want to qualify, would we have to show $4000/ month? Are there any any other ways to qualify? We found Corozal to be very nice and would like to visit the Cayo district next. Thanks, Ann for your help.

[COUNTRY EXPERT ANN KUFFNER]

Gerard,

As you mention, to become a QRP in Belize, the most difficult requirement is proving that you can move $24,000/year, and then showing the Belize Tourism Board, each year, that you did indeed move that much money, from US $ to BZ $, into your account in Belize, or that you spent it another way, in Belize. You only need to show $24,000/year, or $2,000/month for you and your wife. Your wife will be included in your QRP application. You can directly contact Roshel Godfrey, who runs the QRP program, at rgodfrey@travelbelize.org. She works for the Belize Tourism Board. The program is run through the BTB.

If you don’t have adequate Social Security, or a pension, the BTB will still accept you into the program if you can show you have adequate savings and investments to support yourself. For instance, I became a QRP in 2008, long before I qualified for Social Security. When I submitted my BTB application I attached copies of my IRA investments and explained that I would withdraw savings from IRAs until I reached Social Security. If you have an IRA at a financial institution it would be best to have your financial advisor write a letter stating that you have adequate funds to disperse $24,000/year for x many of years, until you receive a pension or Social Security.

There are, of course, other requirements. But it’s fairly easy to qualify if you have the required income as long as you don’t have a police record, and don’t have AIDS.

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