Episode 18: Safety and Security in Belize — The Real Story

Safety is the elephant in the room. People want to know: Is Belize safe? Today we're giving you an honest, nuanced answer—not the tourism board version and not the sensationalized headlines.

Myth of the Week:

"Belize is dangerous. I saw it has a high crime rate."

The reality: Belize does have crime statistics that look alarming at the national level, but those numbers are heavily concentrated in specific areas of Belize City—areas tourists and expats don't go. The tourist areas and expat communities where people actually invest have a very different safety profile.

Breaking It Down by Area:

Belize City Southside: Yes, there's gang-related crime, drug activity, and violence. Most tourists never go there—and there's no reason to.

Tourist areas (San Pedro, Placencia, Hopkins, Corozal, Cayo): You're not anywhere near the problem areas. Issues here include petty theft, opportunistic crime, and occasional property crime—similar to beach towns anywhere.

Expat communities: Generally very safe. David knows people who don't lock their doors in some areas. (He doesn't recommend that, but it shows the reality.) Strong community awareness.

Crimes to Actually Be Aware Of:

• Petty theft: Don't leave valuables visible in cars or on the beach. Lock up when you leave.
• Property crime: Empty homes can be targets. Good management, cameras, dogs, and caretakers prevent this.
• Scams: Some people try to take advantage of foreign buyers—hence the emphasis on due diligence and working with reputable professionals.
• Opportunistic crime: Walking alone drunk at 3am with expensive jewelry isn't smart anywhere, including Belize.

Violent Crime Toward Tourists and Expats:

It happens, but it's rare in the areas where investors and expats live. When it does happen, it often involves specific circumstances—disputes, robberies gone wrong, being in the wrong place. Random violence against tourists is not common.

That said, take reasonable precautions like anywhere else in the world.

Listener Question: Is It Safe for a Woman to Travel Alone in Belize?

Generally yes, with normal precautions. Many solo female travelers and expats live here comfortably.

• Stick to tourist areas
• Use registered taxis
• Be aware of your surroundings
• Don't accept drinks from strangers

The same advice you'd follow anywhere. The beach towns are welcoming and the expat community is supportive.

How Expats Protect Their Property:

• Caretakers or property managers: Someone checking on the property regularly deters problems
• Cameras: Everywhere now
• Guard dogs: Some people use them, often in combination with other measures
• Good relationships with neighbors: Community watch is real here—people look out for each other
• Basic security: Locks, lighting, cameras—nothing extreme
• Insurance: Proper coverage for theft and damage
• Don't flaunt wealth: Driving the flashiest car and wearing expensive jewelry attracts attention anywhere

How Does Belize Compare?

Belize is safer than some Central American countries and comparable to many Caribbean destinations. It's not as safe as some parts of the U.S. or Canada, but it's not the war zone that headlines suggest.

Context matters: In 2024, Belize had around 120 murders total. The majority were domestic, gang, and drug related. With a population of about 425,000, that's approximately 21.7 murders per 100,000 people.

For comparison: St. Louis, Missouri—the most dangerous U.S. city—has a homicide rate of 54.4 per 100,000 residents.

Bottom Line:

Belize is safe enough for hundreds of thousands of tourists annually and thousands of expats living full-time. Use common sense, take reasonable precautions, invest in areas with good track records, and don't believe everything you read online—good or bad.

Connect:

📧 david@1stchoicebelize.com
🏠 RE/MAX 1st Choice Belize]]>

Episode 18: Healthcare in Belize — The Realistic Picture

Healthcare is one of the top concerns for anyone considering Belize long-term. Today we're giving you the realistic picture.

Myth of the Week:

"Belize has terrible healthcare. I'd never get treated there."

That's wrong. Belize has competent doctors and nice facilities for routine and moderate care. Where it falls short is specialized care, emergency trauma, and complex procedures. It's not terrible—it's limited. There's a difference.

David's perspective: "When I need open heart surgery, I want a surgeon who does so many procedures he can perform mine with his eyes closed. Due to Belize's small population, a heart surgeon might only do one to three procedures a month."

What Healthcare Is Available:

• Public hospitals in major towns (Belize City, Belmopan have the largest)
• Private hospitals and clinics throughout the country, including tourist areas like San Pedro, Placencia, and Cayo
• Pharmacies well-stocked with many medications available without prescription

For routine care: Checkups, minor injuries, common illnesses, dental—you can get good care locally at reasonable prices. A doctor visit might be $50-75 BZD. Basic bloodwork, X-rays, minor procedures—all available.

Where It Falls Short:

• Specialists: Limited oncologists, cardiologists, neurologists. For serious diagnosis, you're likely traveling.
• Emergency trauma: Facilities and response times aren't what you'd find in a major U.S. city.
• Complex surgeries: Available in some cases, but many expats choose to go abroad for anything significant.
• Medical equipment: Some diagnostic equipment isn't available locally.

What Expats Actually Do:

Most use a hybrid approach:

• Routine care locally: Checkups, minor issues, prescriptions
• Medical tourism for bigger stuff:
  • Mérida, Mexico — Popular choice, 3-4 hours from Belize, excellent hospitals, lower cost than U.S.
  • Guatemala City and Chetumal are also options
• Fly back to U.S./Canada for major procedures
• Telemedicine: Increasingly used for consultations with specialists abroad

Listener Question: What Kind of Health Insurance Should I Have?

International health insurance: Companies like Cigna Global, IMG, GeoBlue offer plans covering you in Belize and abroad. Costs vary by age and coverage—maybe $200-$600/month for decent coverage.

Belize local insurance: Available but limited in scope. Good for routine care, may not cover medical evacuation or treatment abroad.

U.S. Medicare: Does NOT cover you outside the U.S. Don't rely on it.

Medical evacuation coverage: CRITICAL. Emergency transport to a better facility can cost $50,000+. Get evac coverage.

Many expats combine international insurance with high deductibles and pay out-of-pocket for routine care (since it's affordable locally).

Prescription Medications:

• Many medications available over the counter at much lower cost than the U.S.
• Pharmacies generally well-stocked
• Some specialized medications may need to be imported or obtained on trips abroad
• If you're on critical medications, bring a good supply and have a backup plan

Real examples: David pays US$9/month for generic Lipitor and US$12/month for generic Flomax in Belize.

How to Plan:

1. Get international health insurance with evacuation coverage — non-negotiable
2. Identify your Plan B medical destination — Know where you'd go for serious care (Mérida, Houston, Miami, wherever)
3. Build relationships with local providers — Find a good GP and dentist
4. Stay on top of preventive care — Don't wait until something is serious
5. Budget for medical travel — It's part of expat life here

Bottom Line:

Healthcare in Belize is adequate for daily life and minor issues. For serious care, you need a plan. That's not a deal-breaker—it's just reality. Plan for it and you'll be fine.

Connect:

📧 david@1stchoicebelize.com
🏠 RE/MAX 1st Choice Belize]]>

Episode 14: Exit Strategies — Selling Your Belize Investment

Everyone thinks about buying, few think about selling. Today: Exit Strategies for your Belize investment. The best time to think about your exit is before you buy.

In This Episode:

• What affects how quickly a property sells
• Costs of selling in Belize
• Options when the market is slow
• Selling LLC shares vs. the property
• Ideal holding period
• Myth of the Week: "I can sell my Belize property as fast as I could sell back home"

The Reality Check:

Belize is a smaller, less liquid market. Properties can take 12-24 months to sell, sometimes longer. There's no MLS like the U.S., buyer pools are smaller, and financing for buyers is limited. That doesn't mean you can't sell—just plan accordingly. A trusted agent will help you throughout the whole process.

What Affects How Quickly a Property Sells:

Same factors as anywhere, but amplified:

• Location: Ambergris Caye, Placencia, and Hopkins have the most active resale markets. Secondary areas are slower.
• Price: Overpriced properties sit forever. Realistic pricing based on actual comps—not what you hope to get—matters more here.
• Condition: Move-in ready sells faster than "needs work." Buyers in Belize often don't want renovation projects from 2,000 miles away.
• Curb Appeal: Just like anywhere, you want great curb appeal to invite others in.
• Marketing: Professional photos, virtual walkthroughs, proper listings, reaching the right buyer pool. A lot of Belize real estate marketing is still unsophisticated—we have to go find the buyer.

Costs of Selling:

Plan for:
• Agent commission: Typically 6-10% of sale price
• General Sales Tax (GST): 12.5% of the commission (not the sale price)—you're hiring a real estate company for a service
• Legal fees: Optional—only about 0.5% of David's sellers in 16 years have hired a lawyer to represent them
• Outstanding taxes/HOA fees: Must be cleared before transfer
• Capital gains tax in your home country: Belize doesn't tax capital gains, but the U.S. and Canada do

Example: Selling a $400,000 property? Budget $30,000-$40,000 in total selling costs.

What If the Market Is Slow?

A few options:

• Price adjustment: The fastest way to sell in any market. If you're not getting interest, you're probably priced too high.
• Seller financing: Offering terms can dramatically expand your buyer pool since bank financing is limited here.
• Rent until the market improves: Generate income while you wait for better conditions.
• 1031 Exchange: For U.S. investors selling to buy another investment property, you may be able to defer capital gains. Rules are strict and you need a qualified intermediary. Yes, you can do a 1031 exchange from Belize to another property outside the USA.

Selling LLC Shares vs. the Property:

If you own through an LLC, you can potentially sell the shares instead of the property itself. This used to avoid stamp duty for the buyer and simplify the transfer.

Important update: As of late 2024, new rules now require a transfer tax on shares. But this still comes with its own due diligence requirements—the buyer is taking on whatever's in that LLC. Work with your closing team on both sides.

Ideal Holding Period:

David generally tells investors to think 5-10 years minimum.

In 2023-2024, you could flip a property easily in a year. But the market has shifted. Short-term flips are hard now:
• Transaction costs eat into profits
• The market moves slower
• You're competing against new inventory from developers

If you need liquidity in 2-3 years, Belize real estate probably isn't the right vehicle—unless you buy right.

Bottom Line:

Know your exit before you enter. Buy right, hold with a long-term view, price realistically when you sell, and budget for the costs and timeline.

Connect:

📧 david@1stchoicebelize.com (if you're thinking about selling your Belize property)
🏠 RE/MAX 1st Choice Belize]]>

Episode 13: Belize Taxes for Foreign Investors — What You Actually Owe

Nobody's favorite topic, but skip it and you'll regret it. Today: Taxes in Belize for Foreign Investors.

Disclaimer: David is not a tax professional. This isn't tax advice—just what investors commonly deal with and where to get proper guidance.

In This Episode:

• What taxes exist in Belize for property investors
• Home country tax obligations (U.S. and Canada)
• Do you need accountants in both countries?
• Structuring considerations
• The biggest tax mistake investors make
• Myth of the Week: "Belize is a tax haven, so I don't owe anything"

The Reality Check:

Belize has favorable tax treatment in some areas, but "tax haven where you owe nothing" is a myth—especially for U.S. and Canadian citizens. You likely still owe taxes in your home country, and Belize has its own taxes too. They're low, which is why Belize is considered favorable for investment.

Belize Taxes for Property Investors:

1. Property Tax — Very Low
• Usually 1-1.5% of undeveloped land value (not improved value)
• ~$50 BZD per acre on acreage
• On a $300,000 condo: ~$25-$300 BZD/year
• Varies by village vs. town (David's Placencia house: $25 BZD/year; San Pedro house: $180 BZD/year)
One of the lowest property tax environments in the region.

2. Stamp Tax / Transfer Tax — The Big One at Purchase
• Lands Department transfers: 8% for foreigners, 5% for Belizeans (after first US$10,000)
• Tax applies to house and land only—furniture, fixtures, appliances, boats, cars are separated
• Share transfers (buying LLC or foreign company shares): 7% on share value, paid to Companies Registry
This is a transfer tax, not annual.

3. Business Tax on Rental Income
• ~3% on gross receipts for small operators
• Some structures and situations vary

4. Capital Gains Tax — NONE
• Belize does not tax capital gains
• If you sell for a profit, Belize doesn't tax that gain
• But your home country might!

5. Estate Tax — NONE
• No estate tax in Belize

Home Country Tax Obligations:

For Americans:
• Taxed on worldwide income
• May get foreign tax credits for taxes paid in Belize
• If you own through a foreign corporation: additional reporting requirements
• Required forms: FBAR (Foreign Bank Account Report), Form 8938, Form 5471
• Miss these filings and penalties are brutal
• Flip side: You can write off deductions as well

For Canadians:
• Similar story—worldwide income reporting
• Foreign property disclosure required if value exceeds $100,000 CAD

Listener Question: "Do I need a Belize accountant AND a U.S. accountant?"

Yes and/or no.
• Your property manager should handle local filings (it's a one-page form you can do yourself)
• Belize accountant: Handles local compliance, business tax filings, understands Belize structures
• Home country accountant: The bigger deal—ensures correct reporting and captures credits/benefits
• They should talk to each other

Structuring to Minimize Taxes:

This requires professional advice tailored to your situation. Generally:
• LLCs and trusts don't magically make taxes disappear for U.S. citizens
• Sometimes they create MORE reporting requirements
• Right structure depends on goals: liability protection, estate planning, AND taxes
• Don't set up a complex structure just because someone said it's "tax efficient" without understanding the full picture

The Biggest Tax Mistake:

Ignoring home country reporting requirements.
People buy property, earn rental income, and just don't report it. Years later they want to sell or refinance and have a mess to clean up—or worse, they get audited.

Bottom Line:

Belize property taxes are low, but don't confuse that with no tax obligations. Budget for professional advice on both sides of the border. It's way cheaper than fixing mistakes later.

Connect:

📧 david@1stchoicebelize.com (for accountant referrals in Belize and the U.S.)
🏠 RE/MAX 1st Choice Belize]]>