Costa Rica, Panama, Belize and Nicaragua real estate news : Belize News

Bail Out Bill: Beat it Using Legal Tax Havens

Nick Halverson — Mon, 09 Feb 2009 13:24:00 GMT

Why should you be obliged to pay more tax each month to bail out banking fat cats when you can live abroad in legitimate countries 100% tax-free?

As entrepreneur James Caan pointed out to Piers Morgan in a recent interview where they were discussing why the rich should be allowed to effectively avoid tax by living in havens such as Monaco, ‘there has to be some reward for all that hard work,’ – and increasingly, greater numbers of Britons feel the same.

(Forgive me Mr. Caan for paraphrasing you please.)

Instead of being jealous of those who have achieved the lofty heights of extreme success and wishing them ill for escaping tax by moving abroad, Brits are banding together against a government that’s throwing them all into deeper debt and despair by bailing out banks and even potentially the car industry, (what car industry?), and leaving them with the legacy of a lifetime of public debt.

Well, if you’re thinking the bail out bill is unfair because of the tax burden in places upon us and our children and grandchildren, this article will show you how you can beat it by using legal tax havens. After all, if it’s good enough for Britain’s million and billionaires, it’s good enough for the rest of us too. We are all free to leave, and the sooner the government realises that they are pushing increasing numbers of us to actively look at ways of escape, perhaps the sooner they’ll put the breaks on their destructive plans?

When we talk about ‘legal tax havens’ we’re talking about the nations in the world that choose to set their own rates of tax…places such as Cyprus, Panama or Belize, or places where there are government backed incentive programmes in place to actively encourage overseas citizens to relocate there such as Malaysia. We are not talking about corrupt nations or places like Monaco where property costs upwards of £40,000 a square meter, or even ever secretive Lichtenstein where you’d be the only expat trying to forge an honest days living! But as soon as you mention the term ‘tax haven’ you’re deluged with a swarm of negative publicity as people assume you’re advocating the illegal evasion of taxation (See George Monbiot’s misinformed representation of us in the Guardian).

Please be assured, dear reader, that what we’re going to show you in this article is how certain countries in the world make it very appealing and enticing for you to go and live there legally tax-free or on a reduced rate of tax.

What’s in it for them?

They do so because their economy benefits from having you live there in other ways – you buy cars and houses, you shop for all your groceries there, perhaps you even employ a local person as a cleaner or a nanny or even an accountant. You don’t take jobs there but you do remit your internationally sourced income to the nation because you can do so tax free and just enjoy spending it.

Other nations have used similar incentives for attracting businesses and inward foreign direct investment in other ways – the Celtic Tiger economy that Ireland built and benefitted from massively was created by offering attractive tax packages to businesses for example. Oh, and Great Britain had its own incentives for attracting high net worth non doms (or expats) to live and work in the UK in recent years. Okay, so the current government has eroded many of these benefits – but the UK still has its very own offshore tax centres to attract international investment. And finally, don’t forget that the good old US of A with Obama at the helm still has the tax advantageous state of Delaware within its fold that helps boost Americas coffers!

So, before you believe those who aggressively berate anyone for considering their taxation reduction options – we would just like to point out that practically every nation in the world is free to set its own taxes, and that many have interesting loopholes and incentives for attracting inward foreign direct investment. It’s just that some are more open and honest about what they do – these nations include the following: -

Cyprus

If you’re looking for a place to retire abroad where your income will not be eroded by high rates of taxation, Cyprus could well suit your needs. It has a maximum taxation rate of 5% on pension income. As Cyprus is a fully paid up member of the European Union, you can hardly call it a dodgy offshore tax haven! It is a nation that welcomes international retirees who all move there, buy property, support an economy otherwise heavily reliant on tourism and whom it only taxes at 5%. I think it’s what you call a ‘win win situation!!’

Malaysia

Malaysia has a government backed incentive programme to attract qualifying international citizens to stay in Malaysia on a multiple entry visa for as long as they like. Qualifying individuals have to fulfil the following criteria: -

“Applicants are expected to be financially capable of supporting themselves for ten years on this programme in Malaysia, without the need to work in the country. Besides fulfilling the basic financial criteria of Fixed Deposit placement of RM150,000 (for those aged 50 and above) or RM 300,000 (for those aged below 50), applicants should furnish documentation on their financial position to strengthen their application.”

In other words, if you have the funds to allow you to do so, you can move to Malaysia under the terms of their ‘Malaysia My Second Home’ programme and the benefits you gain include being allowed to remit your internationally sourced income free of tax. You can also own property in the country, import your personal belongings tax-free, and generally enjoy the delights of this stunning and vibrant country.

Belize

Belize has a retired persons’ incentive programme in place that means that anyone from the likes of the UK, U.S.A., Canada, Europe or other Commonwealth countries who is over the age of 45 can move there and enjoy any income they earn or receive from outside the country 100% tax free. They can also import a car or a boat tax free, buy a property and just generally enjoy chilling out in this former British colony where the sun shines almost every day!

Panama

If you’re a qualifying pensionado, (retiree), then Panama wants you too! It will give you discounts on everything from plane flights to prescriptions, from doctor’s visits to money off your utility bills…and what’s more, your internationally sourced income is also 100% tax-free in Panama.

So you see, there are plenty of diverse and wonderful places in the world where you can escape the bail out bill in the UK, and live well in comfortable surroundings whilst legitimately paying no tax at all.

Morally Obliged to Bail Out Britain?

And finally – we would just like to add one more comment to this article. Why are we, as British taxpayers, obligated to bail out the government and the banks through our taxation payments? Why are we obliged to bail them out of the situation that they themselves created? As individuals our responsibilities lie with our families and ourselves, with keeping a roof over our heads, food on the table and our children at school, educated and well brought up. Whilst we reside in the UK we are obligated to pay UK taxes, we have no way of controlling where that tax revenue is spent – whether it’s used to buy arms for someone else’s war or to give a banking fat cat a whopping bonus. We also have no way of restricting the amount of tax we are required to pay – and let’s face it, we all know tax rates are going to have to rise and rise and rise to pay for the mess that the UK has been pushed into. But we are allowed to move abroad, we are allowed to vote with our feet, we are – thankfully – allowed to go in pursuit of a better, fairer life elsewhere. We are in no way obliged to remain and bail out Britain.

By: Shelter Offshore (Original Here)

Leonardo Plans Eco-Friendly Island Investment in Belize

Nick Halverson — Mon, 19 Jan 2009 14:04:00 GMT

By: Tom James on January 13, 2009 (original here)

Hollywood A-lister Leonardo DiCaprio has fallen in love with the idea of building an eco-resort on an island he owns off the coast of Belize…

Leonardo DiCaprio has undergone a serious image overhaul in the last few years, transforming from a Romeo & Juliet/Titanic pre-teen dream to a bearded environmental activist.

The actor used some of his movie millions to snap up his very own paradise island in Belize in 2005 for £1.15 million and is now planning to turn it into an eco-friendly resort.

Leo purchased the island from Emerald Futures, who described it as a ‘beautiful, pristine island,’ and its famous owner is keen to preserve that natural beauty in a green manner.

The staunch environmentalist has great green plans for the 104-acre Blackadore Caye island which is lined with white sand beaches and dotted with coconut palms and rocky outcrops.

It lies between mainland Belize and Ambergris Caye and is just a 25-minute boat ride from the Belize Barrier Reef, a World Heritage Site.

Leo plans to fund the luxury layout, which will include an 80-room hotel and a selection of condominiums and luxury villas, all with private pools and a green theme.

The very latest in innovative green technology will be used, including hybrid power systems and eco tours, which will respect the island’s wildlife and tropical surroundings.

The Blackadore Caye project will be managed by hotel giant Four Seasons and construction is scheduled to begin next year.

Leo wants the island to become a ‘landmark example of sustainable development.’

Buying in Belize

Leo is not alone in wanting to build or buy Belize property. Known as ‘Mother Nature’s best-kept secret,’ Belize has become increasingly popular with foreign buyers over the last few years, fuelling demand for homes to buy and rent.

Although Costa Rica and Panama get all the publicity, Belize is renowned as one of the easiest countries in Central America for overseas buyers to buy Belize properties.

There are no restrictions on non-citizens owning property, no capital gains taxes and low property taxes and the country uses English as the primary language.

In response to heightened demand, there are a number of new residential developments being constructed across the country.

Belize also boasts one of most liberal retirement programs in the region, the Retired Persons Incentive Program, which was introduced in 1999. Under the programme’s terms, foreign citizens older than 45 can import their possessions duty free and gain special residence status as long as they meet some basic requirements.

Celebrity Property in Belize

Nick Halverson — Fri, 02 Jan 2009 15:56:00 GMT

If you’re looking for a place to buy a property in 2009, what about Belize? It’s a spectacularly beautiful nation with a fabulous climate, it’s part of the British Commonwealth and English is the main language in Belize, tourism is on the increase, the nation is considered safe and stable – and if all that wasn’t enough to persuade you, what about the fact that it’s a celebrity hotspot?

Not only are Hollywood stars drawn to holiday in Belize, but the likes of Leonardo di Caprio and Francis Ford Coppola already own celebrity property in the nation – and if you buy in, you could literally be rubbing shoulders with the rich and famous.

In this article we look at reasons to buy property in Belize including the celebrity factor!

As stated, the actor Leonardo di Caprio has real estate in Belize – in fact, he owns an island off the nation’s shore called Blackadore Caye where he’s currently planning the construction of a luxurious hotel and eco property based project that will be operated by the Four Seasons group. As the island cost a mere 1.75 million dollars for over 100 acres of prime, tropical land in the Caribbean Sea, you can see that relatively speaking land and property in Belize are affordable or even cheap.

Of course, you may not be in the market for an island, but even if you ‘only’ want a modest home in Belize you will be buying in a nation where the rich and famous love to holiday in style yet also anonymously. Not well known as a playground for the rich and famous, the country is absolutely the perfect hideaway for those who like to get away from it all – which was precisely the driving factor behind Francis Ford Coppola’s decision to buy real estate in Belize too.

Other reasons that may sway your decision include the fact that Belize is one of the most beautiful countries in the whole world. It is blessed with white sandy beaches, with topical rainforests, dramatic mountain peaks, rare yet abundant flora and fauna and stunning ocean views. Thanks to these reasons the country is growing as a tourism destination and growing slowly wealthier as a result. This has the knock on effect of infrastructure and amenity improvements that benefits those with properties that they reside in or let out in Belize.

Belize has been protected ecologically speaking and environmentally so it remains a pristine paradise. The celebrities who have bought in such as di Caprio are working with the nation to ensure this status remains the same. The tax status in Belize makes it very attractive, as does the fact it is an affordable place to buy, it has a stable currency, is a democracy and has a legal system based on the British.

In addition to all of these favourable factors supporting the purchase of a property in Belize, you have the fact that Belize is highly accessible from the US, the US is highly accessible from the UK, and the British pound still goes quite a long way in Belize’s real estate market. So, if you want to find a home in paradise in 2009, take a closer look at the property landscape in Belize and join the celebrities buying homes in this beautiful Central American country.

By: Shelter Off Shore (original here)

Be it inland or island, Belize is a magical mix

Nick Halverson — Tue, 30 Dec 2008 15:23:00 GMT

By Jeremy Schwartz
Cox News Service

Posted: 12/21/2008 12:30:00 AM MST

BELIZE CITY, Belize — I knew Belize was going to be something different as soon as we got to the remote border crossing in southern Mexico. As we got off our bus to get our passports stamped by a sweating, chain- smoking Mexican customs official, a family of blond Mennonites waited to board. Wearing overalls and bonnets, they added their Low German to the cacophony of languages already on the bus.

My wife and I passed into the Free Zone, a no man's land between Mexico and Belize that's home to some dingy hotels, a broom factory and a large casino advertising Russian showgirls. Blasting country music, our bus finally passed through Belizean customs and into the country proper.

As soon as we entered Belize, everything felt different. Houses were made of clapboard wood, not painted concrete, the distances marked in miles instead of kilometers, the signs in jaunty English.

As we rolled through the countryside, hugging the Caribbean Sea in some places, an amazingly diverse group filled the bus: In addition to the American and European tourists, Mexican vacationers and the Mennonites, there were Mayan villagers, Chinese kids and black Belizeans, all speaking English with a distinctive Caribbean lilt.

Most visitors to Belize speed directly to Belize's main draw: its postcard-perfect islands, called cayes (pronounced "keys"), that feature some of the world's best diving and snorkeling. And while a vacation featuring turquoise waters, colorful reefs and grilled lobster sounds hard to beat, island hoppers risk missing out on Belize's unique diversity and intriguing history.

Belize is a rollicking melting pot that grooves to a reggae beat in the middle of Central America. It's unlike anywhere else you've been.

For inveterate people-watchers like myself, it was impossible to pull away from the bus window. Teenagers blasted dancehall music from car stereos, Mennonite farmers sold wooden furniture, Rastafarians hung out in front of Chinese supermarkets.

In the north Belizean town of Orange Walk, a vendor got on the bus urging us to "wahm up ya engines" with his "smokin' hot tamales," before translating his pitch into expert Spanish.

Belize is part of Central America, but feels more like a Caribbean island. Its unique history has set it apart from its neighbors, and its small size — just 300,000 residents — belies the racial diversity within its borders.

Belize was a British colony and was called British Honduras until 1973.

Given its location along the Caribbean Sea and its many strategically placed islands, Belize was long a haven for British pirates terrorizing Spanish galleons. Later, its forests of mahogany attracted British prospectors.

The country didn't achieve independence until 1981, and despite being a majority black country for most of its existence, elected its first black leader only in February. More recently, immigrants from El Salvador and Honduras, drawn by the strong Belizean dollar, have made mestizos the majority.

The country is geographically diverse, too. In the flat, fertile north, Mennonites and British descendants live off farming.

Southern Belize, with its perfect beaches, is home to the Garifuna, descendants of African slaves and indigenous people who came to Belize in 1832. In the mountains and jungles of western Belize, Mayan ruins rival the best Mexico has to offer. And in the middle of the country, teaming, boisterous Belize City hugs the coast, where it has weathered devastating hurricanes and absorbed generations of migrants for centuries.

Our bus arrived at the chaotic terminal in Belize City, a place most guidebooks urge tourists to depart immediately. But the city offers an unparalleled, if gritty, glimpse into Belizean culture.

After taking a taxi across the Swing Bridge, which since colonial times has separated the city's poor and wealthy sections, we made our way to our hotel, the Great House. The century-old colonial mansion on the waterfront evokes images of British consuls in white linen suits fanning themselves on the veranda while sipping rum punch.

After settling in, we took a tour of the city, contracting with a taxi driver from the Radisson hotel next door.

Daniel Itza took us down streets named after British royalty, past shops owned by Chinese and Indian immigrants, an old cricket club (soccer and basketball are more popular today), and the sight of the unfinished Marion Jones sports complex (the disgraced American Olympic star is the daughter of a Belizean mother and is still a national hero).

On the street, Itza told us, you can hear Spanish, English, Creole, Mayan and Garifuna. "Belize is like a big pot of rice and beans," he said with a laugh. "It's all mixed up." Itza gassed up his minivan at $5.20 per gallon (yikes!) and took us through low-income neighborhoods where brightly colored homes sat on stilts and the smell of grilling chicken and fish wafted through the humid morning air (big, barrel-shaped grills are ubiquitous in Belize).

The sights and sounds of a city

That afternoon we checked out Neri's, an institution for local cuisine.

The grilled chicken was a delight, but the rice and beans, the country's signature dish, were surprisingly dry and in need of salt.

Next, we stopped at one of Belize City's many record shops and picked up a CD by Mr. Peters, the self-proclaimed Godfather of Bruckdown, a hard-driving music born in 17th-century logging camps.

Belize is a paradise for music lovers, and the tiny country claims a number of unique styles including drum-infused Punta music.

Throughout the country, reggae grooves, African styles and Latin rhythms mingle in a unique and very danceable blend.

Belize's most famous (or infamous) musical export may be the rapper Shyne, who also happens to be the son of the prime minister.

Shyne Barrow was a protege of Sean "P Diddy" Combs before Barrow was sentenced to 10 years in prison for his role in a 1999 New York City nightclub shooting (Jennifer Lopez was the case's most famous witness).

From Belize City, it's just a short boat ride to Caye Caulker, the smaller and more tranquil cousin of Ambergris Caye, Belize's most visited destination. No cars are allowed on Caye Caulker, so we rented a golf cart to check out the island's colorful houses, dodging kids pedaling past on bikes and wandering backpackers.

After a meal of barbecued whole red snapper, we got back on the boat for Belize City.

Then it was on to the capital city, Belmopan, where we had an interview scheduled with Prime Minister Dean Barrow. Belmopan is one of the hemisphere's more unusual cities, made up mostly of federal bureaucrats in the middle of the jungle. When Hurricane Hattie razed Belize City in 1961, Belize's politicians decided to set up shop in a safer place 50 miles inland.

From Belmopan, many tourists journey to San Ignacio to explore Mayan ruins and the jungle. But heavy flooding had cut off the western part of the country, so we headed back to Belize City, stopping at the Belize Zoo.

The zoo is an animal sanctuary set in a natural jungle setting that includes jaguars, howler monkeys and the beloved national animal, the mountain cow (or tapir), which looks like a cross between an elephant, rhinoceros and horse.

Belize, it seemed to me, was as unusual as its national animal — a raucous mix of cultures that once experienced, is impossible to forget. Too soon we were back on a school bus heading north to the Mexican border.

I looked out the window the whole way.

Jeremy Schwartz's e-mail address is jschwartzcoxnews.com.

Insider's Guide

GET THERE: By air: Nonstop from Denver International Airport (DEN) to Belize City on American Airlines, Continental and United with one stop, starting at $330.

By land: Crossing by bus over the land border with Chetumal, Mexico, is painless and cheap. Americans aren't required to have a visa to enter, but be sure to bring your Mexican tourist visa to leave Mexico. Tickets are available at Chetumal's main bus terminal, and it's about three hours to Belize City once you cross the border. If you drive into Belize, make sure you get your passport stamped to avoid big headaches when you leave.

GET AROUND: Belize's internal bus system is made up of old American school buses that can be cramped and stuffy. Renting a car is expensive, and roads are in rough shape beyond the major north/south and east/west highways. Domestic flights reach nearly every corner of the country and are relatively cheap on Tropic Air and Maya Air. Boat travel to the islands is also comfortable and fast.

STAY: In Belize City, the Great House (great housebelize.com) has big rooms for $110-$150 per night.

In Belmopan, the Bullfrog Inn (bullfroginn .com) has a bustling bar and clean rooms for $70-$85.

DINE: Beans and rice is the national dish and often delicious.

Anything grilled, particularly seafood and chicken is likely to be wonderful. And every meal is accompanied by Marie Sharp's hot sauce, a Belizean staple found in every restaurant.

PLAY: Visit Mayan ruins. The Caracol ruins in western Belize and Altun Ha near Belize City are some of the many well-preserved sites.

Snorkeling and diving are world-class on Belize's islands, particularly at the famous Blue Hole diving spot near Half Moon Caye. There are more than 185 miles of barrier reef in Belize.

Cave tubing. Floating through underwater rivers and riding ATVs through the jungle are fun activities for the adventurous. One outfitter is cave-tubing.com.

Belize Zoo: Between Belize City and Belmopan, this wildlife sanctuary (belizezoo.org) is one of the hemisphere's best. Check out the mountain cow and the cute howler monkeys.

MONEY: The Belizean dollar is pegged at double the U.S. dollar, meaning things aren't as cheap as in neighboring Mexico.

(Original post here)

Get the Belize blues

Nick Halverson — Mon, 29 Dec 2008 15:24:00 GMT

BLUE IS THE colour of sorrow, for those who have never seen the Caribbean.

It is best viewed in your bare feet from a rocking reggae boat with rum punch in hand. Seventeen of us set off on the Ragga Queen for a sailing adventure and ended up as friends and dancing partners.

To understand "go slow", the motto of Caye Caulker, you have to leave the island and cruise the seas surrounding it. Try as I might to write or read, I could only daydream in the unending blue.

Slowness seeped into my bones as I snoozed on the wooden deck. I smiled, remembering advice given in Belize three days earlier: "Slow down, mon, or you get a speed-eng tick-et!"

I grew up by the sea but had never learned to sail. Cruising the alluring barrier reef of Belize, it was worth the wait. I was on a standby list for the popular Raggamuffin Overnight Tours.

On my last day on the island, traveller's tummy claimed another victim and I became crew. There were three sailors on the boat - natives Dice, Adrian and Murray - a backpacking Belgian honeymoon couple, two Australian couples en route home, five Irish girls, one German student and two Dutch interns. Our itinerary was to sail from Caye Caulker to Placencia, a small fishing village in south Belize, near the Honduras border.

We could learn how to sail and fish or just snorkel, swim, sunbathe and swap stories for three whole days and camp on islands for two nights.

We swam ashore to our first stop, on Rendezvous Caye, and were met by seven bowed palm trees and two surprised pelicans. Karin declared the island to be 17 Dutch steps long as we splashed and snapped photos.

There was a shortage of tents but not of rum, marshmallows or fireside songs. The launch of the love boat began that night for Dice and Sally.

The next day we learned some sailing, although weak winds meant that we relied more on our motor for progress. Beautiful Girls by Sean Kingston and anything by Bob Marley or Bon Jovi kept us rocking on. On my bus trip back through Belize to Mexico I discovered that any song, even one by Cher or Kylie, can be reggaefied.

Sunburn kept some in the shade, but the marine life came out to play instead. A dolphin swam alongside us, and I landed a barracuda for dinner that night. Each day we had two stops for snorkelling and swimming, with gear provided by the boat, which revealed a rainbow underwater world. A nurse shark glided by, a stingray flapped past and a turtle drifted along with us. The fan and brain coral lit up indigo water in pinks, oranges and yellows.

Azure blue wrapped around us, and the horizon melted into sea and sky. Bright blue became a smoky eye rim to the nightly tropical storm which lit up our dancing on the pier of Tobacco Caye, our last campsite. Irish and Lebanese dancing was fused along with some Aboriginal moves as we enjoyed our barracuda and rum punch.

Later we swam with phosphorescent shrimp and swayed to sleep in hammocks looking out at the navy, star-splashed sky.

The adventure into the seas of the Great Blue Hole ended in Placencia. Most then headed to Sun Jam, an island music festival in Honduras, with new friends and many memories.

My bus trip north involved a missing bridge and furious canoeing to catch a plane home from Mexico.

I got the blues in Belize this summer - and I would go back for more.

By: The Irish Times (original artical here)