Turneffe Atoll is actually one of three atolls of the Belize barrier reef.
They include Turneffee island, the largest atoll ( 30 miles long and 10 miles wide) in the Mesoamerican barrier reef system, Glovers Reef, home to the Glover's Reef Marine Reserve and Lighthouse Reef know for it's underwater sink hole. Three of the four Caribbean atoll's are in Belize making this a very unique spot to live. These atoll's are sublime for snorkeling and a fly fisherman's dream come true.
Ever heard of The Great Blue Hole? It's a massive sink hole in Lighthouse Reefs lagoon. Jacques Cousteau made it famous in 1979 when he brought his ship the Calypso there to measure it's depth. Through his research a depth of 125 meters or 410 feet was recorded. Jacques declared it to be one of the top 10 best snorkeling sites in the world.
Property on Turneffee
Buying property in Belize is quite simple for expats. There are no regulations for foreigners who wish to purchase property. There is no Capital Gains Tax. Excellent! There is a stamp duty tax of 5 percent payed by the buyer at closing but the first $10,000 is excluded, so on a $100,000 dollar sale you pay 5 percent on $90,000. That's not to bad as far as I'm concerned. I'm starting to get so excited about Belize. This might just be the place for us.
Absolutely amazing retirement benefits.
The Belize retired persons incentive program for people over 45 (YEP I SAID 45!) Is amazing. You do have to have a pension that pays out a minimum of 2 grand a month and you and your family can not work once excepted to this program but it offers tax benefits and all sorts of cool stuff. This is the best place so far to retire in the Caribbean.
It's also amazing for people not ready to retire. The property prices are simply wonderful. I found a freaken island for sale for $249,000. A 1 acre private island all to yourself, ready to be built on. I wish I was ready to move right now.
Working in Belize
Similar to Cozumel working in Belize can be difficult. You need to apply for a work permit and if your looking to do a job that a Belizean can do your chances of getting the permit are slim, but not impossible. However if your looking to start a business (especially one that will bring locals jobs) it's a little easier to get a work permit. There is of course all the paperwork, forms and permits that will need to be filed when starting any business and the process can take a month or two but your not restricted to the amount of property you can own and stuff like that. I could absolutely do my wedding business here or the snorkeling and boat tours.
Cost of Living
Cost of living in Belize is considerably lower than in the U.S. an ocean front view will cost you on average $300 to $800 a month. Local food is reasonable as well. If you buy all imported it will cost you but if you live as the locals do you can live very well for under $1000 a month.Know someone who wants to start a small business? Why not share this post with them? Belize might be your Paradise. Let me know your thoughts in the comments.
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