[COUNTRY EXPERT ANN KUFFNER]

Ron,

We do have hurricanes, although infrequently, so must be ready for them. But we get about 1/10th as many as Florida. Belize is tucked in a corner, off the normal Caribbean hurricane track. The hurricanes that hit here usually are narrowly focused, so more regional in impact. But we have had a bad one since investing here, Keith. I think that was in 2001. But they are infrequent. It is important to build for hurricanes. We live in a concrete home and have hurricane shutters that we put up whenever we leave during hurricane season. And if there was a hurricane we’d put them up.

My husband was here and stayed in the home we were building during Hurricane Keith, a category 4 hurricane that lingered over Ambergris Caye one October. Our concrete home did very well and some of the neighbors hunkered down in the building with us. We don’t get extreme storm surge on the island since we are close to the reef and it protects us. The insurance paid for our damages without any issues.

We haven’t had another serious hurricane on the island since then. But there have been other hurricanes to hit Belize, focused on other areas of the country.

[COUNTRY EXPERT ANN KUFFNER]

Totally understood, Ron. Good luck with the kids. Most of my younger expat friends who live here have kept their kids in school here until high school. Then they sent them back to the USA for high school, or home schooled them, since the high schools here are not of the quality you expect in the USA. So better to stay put until the kids are out of high school, then get serious about moving here. Your kids will love to visit Belize after they are out of high school. Then you will have a hard time getting them to leave…

Glad I could help. The banking situation in Belize is in a state of flux, so it’s been challenging to stay on top of it. But it’s a critical topic that impacts all of us who live or invest here. I think things will shake out within a year. But right now, with the BofA stating that they plan to pull out of both the Caribbean and Central America, as the correspondent bank, it is having a big impact. Right now mainly Belize is in the spotlight. But it seems that other Caribbean and Central American countries will soon go through the same thing. The difference is that Belize built their reputation as a safe banking country, offering many offshore banks. So this turn of events has really hurt the country and its reputation. Better to be safe than sorry until all banks have found new correspondent banks and they have been maintained them consistently for a year or so, especially since you won’t move here for a while.

[COUNTRY EXPERT ANN KUFFNER]

Ron,

If you go back and read through the Belize Insider monthly reports, you’ll find that I’ve written about the impact of FATCA upon banking in Belize several times. All banks in Belize are having correspondent bank issues since the Bank of America decided to pull out of Belize as the correspondent bank. Some banks have been able to overcome these challenges, others have not. We are indeed familiar with Caye Bank. Caye International Bank is strictly an international bank. It’s had correspondent bank issues over the years, even before FATCA came into play. When a bank loses their correspondent bank keep in mind that you can’t get your money into or out of the account.

If you plan to live or spend much time in Belize the first priority is to open a BZ dollar account, as that is how you will pay bills and take out money at local ATMs. Caye Bank does not have a Belize dollar branch, as the other banks do. For banks with both, you can transfer from US dollars into BZ dollars fairly easily. A number of expats told me that they closed out their Caye Bank accounts due to the excessive fees. In late 2013 Caye Bank charged $300/account for “FATCA fees”. I did not hear of any of the other international banks in Belize charging this kind of fee. I asked the Atlantic International Bank staff when they would start to charge an excess fee to deal with FATCA. They smiled and explained that the FATCA paperwork is just part of doing business.

We closed our Caye Bank accounts on the advice of our Belizean lawyer, and also to avoid the excessive FATCA fees. Recently, in November 2015, I’ve been contacted by several financial advisors who wanted to inform me that their clients have not been able to remove their money from Caye Bank.

Also, if you move here, you can have a offshore US dollar account as a non-resident, or as a QRP. But once you become a resident, you can only have a BZ dollar account. Even if all international banks in Belize were to lose their correspondent banks, it should still be possible to move US dollars into a BZ dollar account. But given the bank challenges in Belize right now, due to FATCA and the BofA de-risking, I would not recommend that anyone view Belize as an offshore haven where you can stash money offshore at this time. Belize is on the USA’s blacklist due to money laundering and income tax evasion. Belize is working to improve their reputation. But for the time being, given what I’ve been seeing on the ground in Belize, I do not consider Belize a very secure place to park money offshore. My advice, for the time being, is to only move the money here that you will need to live on.

My husband and I have had both an international and BZ dollar account at Atlantic Bank for years and have received very good service, at reasonable rates. Atlantic International Bank did lose the BofA as a correspondent bank. But they found a new correspondent bank fairly quickly. They were honest about the situation with their clients and updated info on their website, to let clients know the status of the changes. Atlantic Bank also offers mortgages to expats at 9.75%.

[COUNTRY EXPERT ANN KUFFNER]

Steve,

If you have been reading our on line materials, you know that we strongly encourage expats to rent for a few months in any area overseas they are considering buying. It’s easy to fall in love with a new country when you have not spent much time there and haven’t experience the day to day lifestyle. Ambergris Caye, in particular, has a spectacular coastline, the nearby reef, and a lot of activities. But expats who buy too quickly at times become disenchanted after they get tired of the traffic, sargasso seaweed (which is just a recent thing, that comes and goes), or the very loud music…Then the rest of us who love the island have to listen to them complain regularly.

You mention this is your first trip and that you are looking for property. The price of real estate on the cayes and in the Placencia/Hopkins region has gone up significantly in the last few years. It’s hard to imagine prices continuing to go up, as few expats are willing to pay more for property in Belize than what they would pay in the USA. That being said, the prices in Corozal, San Ignacio, and Punta Gorda, are still quite reasonable.

Ambergris Caye, in particular, is experiencing very rapid growth, with some growing pains. If you stay for a few months atleast you’ll get to know people who will be honest with you about what’s going on, both the good and the not so good. Some realtors will not “share” the problems of a given property they show you. And there continue to be title issues for properties. We do have a list of realtors in each region of Belize on this website, who other expats speak highly of. While here, talk to expats about specific neighborhoods on the island, and specific developments or properties before getting serious about buying. And have a lawyer research the title for you before buying, to be sure it’s clear and there are no encumbrances. Most realtors do not use an outside lawyer to do this search.

In the Belize Manual, and on the website, there is a very helpful article, written by Margaret Summerfield, about what to look out for when buying property overseas.

[COUNTRY EXPERT ANN KUFFNER]

David and Lynn,

If all goes as planned, Karen Wilkenson will organize a get together for Monday, the 16th, and invite interested expats. My goal will be to meet a variety of people.

But do contact me directly, at Belize@internationalliving.com, so that we can connect and communicate in detail about your experiences. I’d love to hear your story. At the Millennium I’ll be pretty much meet as many people as I can, so will talk briefly with each person or couple, to get a sense of a variety of experiences and who is wiling to participate in a future article. But I’d like to hear about your recent experiences, especially since you are in the process of moving to Corozal. With the current banking challenges related to the BofA derisking, I’d really like to hear about your experience securing a mortgage in Belize and if you have had any problems transferring funds to Belize. Since you did set up an offshore account, I assume you opted for the QRP residency option.

[COUNTRY EXPERT ANN KUFFNER]

David,

Thanks for the update. I have also been in contact with another expat who lives in Consejo. She has offered to set up a special get together, for me at the Millennium to meet local expats who are willing to talk to me about their experiences living in the area.

I will be in Corozal most likely from November 14-November 19th. So possibly we will meet during that time. I have a friend who has lived there for years who’s helping me set up a series of meetings. I am looking forward to the Art in the Park on the 14th, and the sailing regatta on Sunday, the meeting at the Millennium, and the Women’s Forum meeting. But I’ll be viewing real estate in the area, and weather permitting, will travel to some villages outside of Corozal,to see if more expats are moving further out of town.

[COUNTRY EXPERT ANN KUFFNER]

Otto,

There is no such community in Belize to date. Some expats pay for in home nurse care to accomplish this. But Belize is very small. We do not have “assisted living” type communities, as offered in the USA. There is no Belize specific medical care insurance. Expats who get health insurance here go for large insurance companies such as BUPA and IMG.

[COUNTRY EXPERT ANN KUFFNER]

David,

Agreed. There are a number of aspects of this website that I would like to see improved. But I am merely a writer, and the messenger…I do know that an upgrade is planned. But not sure when it will be happen. Since there are many Insider websites, it will be a major endeavor to switch them all out.

Here in Belize we don’t have many Belizean expert computer geeks, although it’s getting better. The computers sold here are of a much lower quality than what you can buy in the USA. So it always makes sense to bring your state of the art computer, IPhone, and electronics with you.

You will easily make friends if you can help the expats in Consejo with their computer challenges. I switched to an Apple computer recently, after spending my entire career on Microsoft based computers. I’m struggling to get used to the different approach. There are no Genius Bars in Belize, after all! The one guy I trust to work on my computer is always busy. It takes two weeks for him take find time to work on my computer and I can’t afford to leave it in his shop that long. But I have an expat friend who loves computers and is totally up to speed. He is usually willing to swap a meal for some computer assistance. We have him and his wife over for a gourmet meal more often than our other friends!

[COUNTRY EXPERT ANN KUFFNER]

Kristina and Martin,

I have been using Menzies/Belize VIP Transport service from Corozal to Merida for years. They have a number of staff and I’ve found them to always be very helpful. As David explained, the Belizean taxis or services can’t pick you up at the Chetumal bus terminal. The Mexican taxi cab drivers want your fare to the border. But their taxis are small and then tend to gouge North Americans. I take a Mexican taxi from the bus terminal to the designated spot that Menzies suggests. Menzies keeps changing the spot… I always ask the Mexican cab driver what the fare is before getting into his cab. It should be under $5 US.

Here is the info for Menzies, also known as Belize VIP Transfers, if you want to contact them, as well: info@belizetransfers.com. I’ve also used their drivers to give me a tour of Chetumal and Corozal, when I had time to kill before catching a flight back to Ambergris Caye. That is an extra cost, of course.

Menzies/VIP Transfers has no association with a real estate company. They are an independent transfer service that’s been in the business for over ten years. They pick me up at the Corozal Airport, help me get through the border, and take me to the Chetumal bus terminal. On the way back they have also helped me if there is any “issue” at the border, leaving Mexico, as all of their drivers speak Spanish. I think they charge about $30 US for the service, whether for one or two people. But they typically have decent, good size vehicles with AC.

[COUNTRY EXPERT ANN KUFFNER]

Barry,

I just realized that I had not answered your original question, since many others responded already…

The first thing to do is take some time to review the detailed information on this website. I put together several sample itineraries of how to travel in the country to get a feel for various areas. There are three, I think, each focused on what you can accomplish in a given period of time. So that’s the first place to start. I am in the process of updating the Belize Manual. When it is completed all of the data on this website will be updated. And be sure to read the Belize Insider monthly e-mails, which are on site. I cover topics that are not up to date in the Manual yet, but that are important. Some of those topics are fun, but some are meaty, such as the banking, health, and rental topics that are really important to people considering moving to Belize.

Ask yourself with you want, in terms of lifestyle, and what you can afford. Most expats head directly to the cayes, or Placencia, for he beautiful water and gorgeous beaches. But you most likely spend between $2000-$3000US/month if you live in these areas. Corozal is on a bay and it is a sleepy town that is not touristic at all. There is a nice expat community, from what I’ve heard. And you can live on less than $2000US/month there. Many expats live on Social Security in Corozal and San Ignacio. San Ignacio is in the foothills of the Maya Mountains, a several hour drive from the sea.

Take the time to read the sections that explain each region, the lifestyle there, and the costs. You will get a feel for which seems to be a fit for you. When you visit, you will get a gut level feel about each area. By the time you visit all of the main expat areas, you’ll be able to choose which seems the best for you, or if Belize is not your cup of tea. The next step is to rent for at least a month in your favorite region to see if you still like it after actually living there, vs. just vacationing.

[COUNTRY EXPERT ANN KUFFNER]

David,

I will actually be coming to Corozal during the time you are there, to do research for a future International Living article about Corozal. I would very much like to attend the Wednesday night expat get together at the Millennium in Consejo. I have not been to Consejo Shores yet, so it’s on my list of places to visit and check out. Can you provide me with more details. It would be great to meet those expats who have been living there for a while. I’ll be looking for a few expats to write stories about, who have lived in the Corozal area for a while.

Let’s communicate directly, if you don’t mind sending me your e-mail. You can reach me at Belize@Internationalliving.com. I’d appreciate hearing your feedback after you visit Corozal, as a visitor.

[COUNTRY EXPERT ANN KUFFNER]

David,

I have been told by our technical staff that all of the Insider websites will be upgraded in the future, to fix some of these issues. I just don’t know when that will be. This is a technical issue. I agree that it would be nice to get automatic notifications. I have passed that suggestion on before. We did used to have that feature, but since it didn’t work well, apparently it was disconnected. But I assume that when the website is revamped them will include it. Sorry for the inconvenience…

[COUNTRY EXPERT ANN KUFFNER]

Susan,

As David explains, Roshel Godfrey recently left the QRP program. So they have a relatively new person in charge now. In general, I find that it’s hard to get a response to e-mails from people who work in Belize. Many of my e-mails to Belizeans who work for the government, or even businesses, got unanswered. So it’s much better to call or visit the person when you are vacationing in Belize.

I am a QRP. The current rules do not address your situation. But common law is more the norm in Belize, than the exception. So I would expect that they will allow you and your “partner” to come into the program together. Just refer to yourselves as common law spouses and see if that works. If it doesn’t, then hire a Belizean lawyer for advice and assistance.

The other thing you could consider is that one of you could become a QRP and other a resident. As a QRP you can’t work in Belize for a salary. So if either of you think you many want to work down the road, it would make sense to hedge your bets and get two different types of residency so that at least one of you can work. That is what my husband and I did. He is a resident and I’m a QRP. Although I do work, it is all offshore. You can do that as a QRP. You just can’t work on the ground in Belize.

[COUNTRY EXPERT ANN KUFFNER]

Thanks, Rafael. As you mention, the magazine is not the forum where we can delve into these types of problematic issues. When I mention these types of issues on this forum it is still each readers personal choice how they proceed. But these forums are the only place where we can have an active discussion as very few realtors or developers are going to divulge a properties’ or developments’ problems. Having lived in Belize for many years, I regularly listen to expats complain if they have bought into a development that hasn’t delivered what was promised. And I’ve heard of ongoing title issues with multiple properties, especially pre-construction type developments. There are many good developers and developments in Belize. But there are also some that are problematic, or just too remote to provide what the majority of expats expect to find when they live in Belize full-time.

Thanks for your vote of support. I feel it is my obligation, as a correspondent, to provide honest, measured responses to the questions that come up in the forum. I also do try to do this when appropriate on the Belize Facebook page, although there is not enough room to elaborate there. So this is the best place to go into detail, for those of you who really want a balanced picture of Belize before moving here.

[COUNTRY EXPERT ANN KUFFNER]

David,

Your plan will work out fine. But since the cost for an ADO bus is reasonable, opt for the Deluxe class, especially the first time you try this approach to travel. The Deluxe buses don’t leave as often and they only stop once. I have always taken the ADO Deluxe buses, as the ticket cost runs less than $30 one way from Cancun. They have cushy seats that recline so that you can sleep. They show movies, so bring ear plugs if you want to sleep. The restroom at the back is decent. They typically don’t stop more than once, for a quick stop for a meal. Also, the air conditioning sometimes can be overly aggressive, so bring a sweater or shirt, just in case. I bring a sweater or shawl.

I have not taken the ADO First Class bus since the Deluxe buses are reasonable. They may stop more often, or not have as nice of restrooms. I assume that plenty of your neighbors in Consejo Shores will be able to fill you in. If the First Class bus is almost the same as the Deluxe, let me know.

It’s more complicated when I travel to Cancun, Playa or Merida, since I need to time it so that I can catch the water taxi to Ambergris Caye (from Chetumal), or take a flight from Corozal to the island. So I have to get the early Deluxe bus. But I’ve used this approach to travel many times. It takes about 4-5 hours to get to Chetumal. But it’s easy and pretty cheap.

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