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    DISCOVER BELIZE

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      Cost Of Living In Belize

      Buy Local and Stretch Your Dollars in Belize

      Learn more about this ​​​and other countries in our free, daily e-letter Overseas Opportunity Letter, plus our In Focus: Caribbean newsletter Simply enter your email address below and we’ll send you our FREE REPORT: Discover Belize: Reef, Ruins, Rivers, And Rain Forest... Plus Easy Residency And Tax-Free Living






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          Colorful tropical small market of fresh produce in Belize. cost of living in belize
          iStock/Kacie Crisp photo

          Buy Local and Stretch Your Dollars in Belize

          Living the simple life in Belize can help you stretch your hard-earned money. This is good news for anyone seeking a place to live that offers a high quality of life on a fixed income, but this may mean planning for a different future.

          Tourists may not experience these cost savings, but full- and part-time residents living in Belize quickly begin to see the benefits.

          First, many costs are less than what you will be used to back home. Second, your lifestyle is likely to be different. It is less about keeping up with the Joneses and more about living a comfortable lifestyle.

          The key to maintaining a low cost of living in Belize is getting to know the local vendors, farmers, and suppliers. I have several Belizean friends with higher standards of living than many “First World” residents. They purchase locally grown foods, which are far superior to the more expensive processed foods imported from abroad.

          Also, they have more quality time with their family and friends because they can afford maids, cooks, and gardeners. They build their houses using readily available local materials and talent. If they need something that isn’t on hand, they go to the Mennonites in Spanish Lookout who can fabricate just about anything for far less the cost of importing it.

          Kathleen

          Reviewed By Kathleen Peddicord

          Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

          Cover for Kathleen Peddicord's book At Home Abroad
          Plus, Revealed Inside Your Free Book: 12 Top Places Where You Can Live The Good Life From As Little As $1000 A Month…

          Start Your New Overseas Life Today

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            Table Of Contents

            Cost Of Living In Belize Varies

            A white sand beach in Placencia, Belize. cost of living in belize

            Here at Live And Invest Overseas, we believe the biggest potential for both fun and profit lies beyond the borders of the United States.

            One of the best places for a Key West lifestyle at a lower cost is little, unassuming Belize, a Caribbean nation of about 400,000 people.

            In Cayo, Belize, you can enjoy a very fulfilling life for US$1,000 per month, if you buy locally and use the local resources.

            Placencia’s cost of living is very similar to that of Ambergris Caye. Also, it is a popular tourist area, with fantastic beaches. However, you’ll need a car if you live there, or on most other areas on the mainland.

            You could live in Corozal or San Ignacio for less than US$2,000/month for a couple.

            As mentioned in the retirement category, to become a Qualified Retirement Person, you are required to demonstrate that you can move US$24,000 per year into Belize. This amount covers you, your spouse, and any dependents that move with you.

            In short, you can see that $24,000 a year is what the Belizean government believes to be a comfortable amount for U.S. citizens to live on here.

            Sample Monthly Budget For Living In Belize

            In Belize, you must have third-party insurance, which costs around US$250 per year. A vehicle license is US$100 yearly, and a driver’s license is US$30 each year.

            Gasoline is pricey in Belize, ranging from US$5 to US$7 per gallon, but diesel is often cheaper.

            Personal spending habits can vary drastically, but the following sample is based on a two-person household living a comfortable expatriate lifestyle (not lavish, but not too meager). 

            It is assuming that your own your home and car outright.

            For example, renting an unfurnished home is likely to cost around US$450.00 to $600.00 per month, based on location.

             

             
            Cost of Living In BelizeMonthly Budget iI US$
            Food (Groceries)$150 to $300
            Electricity (750kwh avg.)$200
            Water$75
            Gas (Household)$25
            Cable Television$25
            Internet, Telephone$100
            Entertainment (Dining, Movies, Bars, Etc.)$150
            Miscellaneous Expenses (Home Goods, Etc.)$100
            Household Help (Maid, Gardener, Etc.)$200
            Property Taxes (Home Ownership)$10
            Homeowner’s Insurance (Home Ownership)$150
            Car Registration (Car Ownership)$8
            Car Insurance (Car Ownership)$30
            Maintenance (Car Ownership)$25
            Fuel (Car Ownership)$150
            Monthly total$1,398 to $1,548

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              Belize Is A Top Retirement Destination For US Citizens

              Taxes In Belize

              Calculator with text Tax. taxes in paraguay

              Income Tax

              Charged at a top rate of 25% for residents. Amounts under $14,500 are not taxable. Pensions are also exempt. You are not taxed on earnings made outside of Belize.

              Real Estate and Property Tax

              Property tax in Belize is very affordable. Rates vary between 1 and 12% the value of the land and the house combined. Property tax in the countryside is based only on the value of the land. This is a measure which has been implemented by the Belizean government to encourage investment outside of the cities.

              Value Added Tax (VAT)

              VAT is 12.5%. If your earnings come from outside of Belize such as though work or a U.S. pension then these will be tax free in Belize.

              A tax affecting expatriate residents is the national 12.5% Goods and Services (GST) tax on nearly everything, with exclusions only made for some food and medical items. Import taxes are a primary source of government revenue. They vary but can range up to 80% of the value of imported goods.

              Official residents in Belize under the Retired Persons Incentive Act do not have to pay import duties on a car, boat, plane and up to US$15,000 in household goods imported into the country.

              For those working for pay, the country has a progressive personal income tax with a top personal rate of 25%. There is no estate or capital gains tax.

              On real estate purchases, buyers currently must pay a 5% transfer fee, rolled back in mid-2006 from 15% formerly paid by non-citizens. The 12.5% GST applies to purchases of new condos, new homes and lots in a subdivision.

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                Kathleen

                Reviewed By Kathleen Peddicord

                Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

                Cover for Kathleen Peddicord's book At Home Abroad
                Plus, Revealed Inside Your Free Book: 12 Top Places Where You Can Live The Good Life From As Little As $1000 A Month…

                Start Your New Overseas Life Today

                A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024






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                  Table Of Contents

                  Page: Cost Of Living In Belize - FAQs

                  The cost of living in Belize is at least 50% lower than that in the U.S.

                  Costa Rica’s cost of living is usually higher than Belize’s. And, buying from local stores can lead to big savings.

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