Reggie Bullock NBA Players Private Island in Belize

Reggie Bullock Private Island


NBA player Reggie Bullock acquired an island in Belize and has already started development on his private island! You can already see that the plans for a villa and luxury vacation resort are already well underway.

Reginald Ryedell Bullock is an American professional basketball player for the Houston Rockets of the National Basketball Association.

Bullock made headlines in April 2023 when it was revealed that he had bought this five-acre private island in Belize to create a vacation spot. Since then, it has been dubbed ‘BULLOCK ISLAND‘!

According to Reggie Bullock, Bullock Island isn’t just a place for him and his family to get together; it’s also somewhere he plans to use as an investment as he builds his resort retreat. With plans to add a restaurant, bar, spa, basketball court, pool, and much more, he wants Bullock Island to be an investment for himself and the local community.

Star endorsements lead to publicity, especially when they are investing in an emerging vacation market like Belize. Celebrity endorsements and acquisition of property are major draws not only in the real estate market but also in tourism. This endorsement and development are signs of the Belize real estate market trajectory.

Check out the latest video above to see the luxurious island and Belize’s exciting development project underway by NBA player Reggie Bullock.

This is an exciting MUST-WATCH video!



Welcome to Belize, Reggie!

For more information on Belize real estate or to learn more about investing in Belize, contact us!


Belize Achieves Record Employment & Economic Boom in 2023

Belize Economy in 2023

In 2023, Belize achieved record levels of employment. This has, in turn, led to an economic boom and a growing economy. Belize Prime Minister John Briceno announced the monumental accomplishment Belize achieved with a record employment level in 2023. Belize touched an unprecedented 96% employment rate among those seeking jobs.

А kеу fасtоr іn thіѕ ѕuссеѕѕ wаѕ thе іnсrеаѕе іn thе mіnіmum wаgе, whісh роѕіtіvеlу іmрасtеd Веlіzеаnѕ bу increasing thеіr еаrnіng роtеntіаl. There were a number of economic sectors and industries which contributed to the growth. Kеу ѕесtоrѕ іnсludіng tоurіѕm, соnѕtruсtіоn, Вuѕіnеѕѕ Рrосеѕѕ Оutѕоurсіng (ВРО) сеntеrѕ, аnd аgrісulturе hаvе ехреrіеnсеd ѕubѕtаntіаl grоwth, рlауіng а ріvоtаl rоlе іn есоnоmіс dеvеlорmеnt аnd growth of Belize. The growth in Belize’s tourism and key sectors has led to improved employment opportunities, ultimately increasing the rate of employment to record highs.


Driving Forces Behind the Economic Boom

In 2023, Belize has seen substantial growth in key sectors such as tourism, construction, business process outsourcing (BPO), and agriculture. These industries have been pillars of the Belize economy, and have been instrumental in driving economic development in Belize and creating job opportunities for Belize citizens. Not only did Belize see record high employment rates in 2023, the economy was further bolstered by a 3.4% GDP growth in the third quarter.

The Belize tourism sector, in particular Ambergris Caye (San Pedro Town), witnessed a significant 27% increase, one of the highest since the end of the COVID-19 pandemic.

Belize Tourism & Investment 


Anticipating a Banner Year for Tourism in 2024

Looking towards the future, 2024 is predicted to be a major year for Belize’s tourism industry, with the majority of overnight tourism going to Ambergris Caye & San Pedro Town. Several initiatives and new programs are in the pipeline, which indicates a record year for Belize tourism in 2024. Some of the most recent announcements include a direct JetBlue flight from New York and more frequent flights from the U.S. With additional SouthWest flights from D.C. & Baltimore. As well as extended flights from Canada (Toronto & Calgary) through WestJet. These additional flights and new initiatives are expected to boost the already burgeoning Belize tourism industry.


Continued Commitment to Economic Prosperity

In 2024, Belize is looking to enhance quality assurance, infrastructure, and marketing to capitalize on the expected growth. Belize made massive economic strides in 2023, which has created jobs and enhanced the nation’s prosperity.

Aside from the economic gains in 2023, Belize also made significant strides in health care. Belize was certified as malaria-free by the World Health Organisation, joining the ranks of several countries achieving milestones in disease elimination.

Economic growth and record levels of employment were the key takeaways from the Belize 2023 рrоduсtіvіtу rероrt fіndіngѕ. What is more exciting is the growth and opportunity to come as Belize continues to be a focal point of foreign direct investment (especially in the tourism sector). Thе аntісіраtеd grоwth іn tоurіѕm (for 2024), ѕіgnals а ѕtrоng есоnоmу, rеаdу fоr соntіnuеd ѕuссеѕѕ іn thе uрсоmіng уеаr.


Contact us for more information on investing in Belize and Belize real estate!


Belize Digital Nomad Visa

Belize Digital Nomad Visa

The Belize Digital Nomad Visa is “A Long Stay Visitor Permit” and is a permit granted to any person who intends to stay in Belize for an extended period of time.

Belize is a great destination for digital nomads looking for a tropical paradise to work remotely. The island of Ambergris Caye has some of the fastest internet speeds in the region, with a very reliable network. San Pedro Town, Mahogany Bay Village, and areas of Ambergris Caye have Fibre Optic. Other areas have high-speed LTE service.

The country offers a long-term visa specifically designed for digital nomads, which makes it easy to stay in the country for extended periods of time.

A Long Stay Permit is valid for 6 months after the date issued. The Digital Nomad Visa is done through Immigration, which enables a person and their dependents to remain in Belize for up to 6 months.

The Digital Nomad Visa eliminates the back and forth with immigration every month for a tourist visa extension.

Yes! Belize has a visa suitable for digital nomads called “Work where You Vacation”.

This is Belize’s attempt to attract digital nomads and remote workers from all over the world who want to stay in the country for 6 months, with the opportunity to extend the period.


Belize Digital Nomad Visa

The Work Where You Vacation or Long Stay Visitor Permit (Digital Nomad Visa) program includes:

  • Work permits waived for participants
  • Student permits waived for children of participants
  • Special offers on activities, entertainment, and accommodations through “Work Where You Vacation” lodging partners.


Belize Digital Nomad Visa Requirements

The documents required to apply for the Belize Digital Nomad Visa are the following:

  • Proof of employment outside of Belize (min. annual income of USD $75,000 for individuals, USD $100,000 for couples/families)
  • A notarized banking reference and statement of account
  • A clear criminal record (no more than 6 months old)
  • A valid passport


Belize Digital Nomad Visa Fees

  • USD $500 per Adult.
  • USD $200 per Child

Fees apply to the applicant and any accompanying dependents.


Who Qualifies for the Digital Nomad Visa

Applicants who meet the below requirements can apply:

  1. The applicant is a citizen or permanent resident of the European Union, United Kingdom, United States of America, or Canada.
  2. The applicant is employed outside of Belize and
    • has a minimum annual income of USD $75,000 if the person is applying alone or
    • has a minimum annual income of USD $100,000 if the person is applying with dependents.
  3. A person issued a Long Stay Permit shall be entitled to enter and remain in Belize along with their dependents for a period NOT exceeding six months in any calendar year, as stated in the permit.
  4. A person issued a Long Stay Permit or his dependents shall not engage in employment in Belize.
  5. A permit issued by the department under this section shall not be extended.


Required Documents

  1. A Job Letter is issued within 30 days of the application if the applicant is employed by another person.
  2. Proof of registration of business and annual tax return if the applicant is self-employed.
  3. Proof of annual income in the amount of at least:
    • USD $75,000, if the person is applying alone; or
    • USD $100,000, if the person is applying with dependents.
  4. Notarized banking reference and Statement of Account.
  5. Police Record from the applicant’s country of residence, issued within six months of application.
  6. Certified copy of the bio-data page of the Applicant’s passport and Certified Copies of the bio-data page of each dependent’s passport.
  7. If the Applicant’s nationality is not in the Approved Countries List but resides in a country that is on the list, then the Applicant must provide Proof of Residence.



Internet on Ambergris Caye

Internet and connectivity on the island are top of the line with some of the fastest internet speeds in the region. Back in 2017, San Pedro went through significant upgrades. Now the town of San Pedro has some of the fastest internet speeds in Belize. In 2017, Ambergris Caye had a fiber-optic submarine cable installed with connectivity to San Pedro, enabling super-fast broadband speeds to the island of Ambergris Caye.
Since 2017, San Pedro Ambergris Caye has boasted the fastest internet in the country. Super fast Fiber-based Internet up to 130Mbps for home or business.

The Fiber Optic runs from Maskall to Bomba, and from Bomba to the coastline. From there, there is an underground via an SFOC to the island of San Pedro.

Most of Belize has WIFI with an LTE signal. However, there are places that boast stronger, more consistent internet like Ambergris Caye. With the high volume of tourism and the influx of expats that have moved to the country, and Ambergris Caye in particular, the service has improved to meet demand.

There are 2 primary providers of the internet in Ambergris Caye, Belize: SMART & Digi. Digi offers Fiber Optic internet with the fastest speeds. SMART offers reliable internet and is a popular alternative for areas that do not have fiber optic internet. You can see the rates and internet speeds below;


SMART Internet

Prices are in Belize Dollars

Digi Internet

Prices are in Belize Dollars


About the Belize Digital Nomad Visa

With the growing popularity of the digital nomad lifestyle, Belize is following many countries trying to lure digital nomads with tools and resources to work remotely. The Belize digital nomad visa is part of the Work Where You Vacation program, allowing digital nomads to live in the country for up to six months. It’s open to everyone working for a company based outside of Belize.

While the Belize Digital Nomad visa is only valid for six months, those who wish to extend their stay can apply for an extension. When you get approved for the Belize digital nomad visa, you will receive a permit to live temporarily in Belize. Applicants will also have the option to bring their dependents and spouses.


JetBlue Has Officially Started Direct Flights to Belize

JetBlue Direct Flights to Belize

JetBlue Airlines has officially launched its non-stop service connecting New York’s John F. Kennedy International Airport (JFK) to Belize’s Philip S.W. Goldson International Airport (BZE).

JetBlue Announces Non-Stop Flights From New York to Belize

Flight JBU2781 marked the inaugural journey on this new route as it touched down in Belize on Wednesday, December 6! The integral flight from New York carried over 100 passengers on the Airbus A320 aircraft.

Belize is JetBlue’s 26th destination in the Caribbean and Latin America.

Not only is this a new airline route to Belize, but it is also a direct flight from one of the largest international cities in the world, NEW YORK CITY!

This is the first-ever non-stop route from New York JFK Airport to the Central American country of Belize. The new service offers convenient flight times, with departures from New York in the morning and return flights in the early afternoon.

Year-round service will operate round-trip flights on Monday, Wednesday, and Saturday.


Year-Round Flights Schedule

  • Monday
  • Wednesday
  • Saturday

Scheduled flight times are the following (all times are local):

  • JFK to BZE: Departs at 8:29 a.m. and arrives at 12:14 p.m.
  • BZE to JFK: Departs at 1:30 p.m. and arrives at 7:00 p.m.



JetBlue Flight Deals & Promotions

For a limited time, travelers can enjoy special one-way fares for flights between JFK and BZE for $119 on JetBlue’s website. This promotion is only for select dates. But a great way for people to come and enjoy Belize!

JetBlue Belize Flight Deals


Belize Tourism Growth & Outlook

Anthony Mahler, Belize’s Minister of Tourism and Diaspora Relations, expressed his enthusiasm and excitement over the new flight and the arrival of a new airline. Celebrating JetBlue’s entry into the Belizean market.

Anthony Mahler emphasized the significant impact it will have on the travel industry in Belize. Improving accessibility is a major driver of Belize tourism.

According to Mahler, this is just the beginning, as efforts are underway to ensure that “the load factors are to where [Jetblue] finds it comfortable,” potentially leading to route expansion and the addition of new destinations and direct flights to Belize.

JetBlue’s non-stop service to Belize not only bridges the gap between the United States and Belize but also promises to be a catalyst for further tourism growth in the region.

Contact us to learn more about investment opportunities and real estate in Belize!



Belize Retirement & Investment Residency Program

Belize Retirement & Investment Residency

Belize is recognized as a popular tourist destination and continues to grow in popularity. Belize is considered to be a great spot for investors, retirees, and expats looking for a country to live, work, and invest. Hence, the Qualified Retired Person Incentive Program (QRP) was developed to fast-track residency for those who qualify. For the QRP program for retirement and investment residency, a person must be 40 years or older to apply.

The BTB (Belize Tourism Board) has introduced a new program that allows QRP holders and people applying for QRP to invest in Belize and conduct business in Belize more freely. QRP Members will be entitled to carry on business in Belize with approval if the Member meets the following qualifications:

  • A Business Plan.
  • Proof of Investment of at least 1 Million Belize dollars (US$500,000).
  • If the person has resided in Belize for at least 90 non-consecutive days.
  • The Business must employ at least five Belizean citizens.


Retire & Invest Program Benefits

A QRP Member granted approval to carry on business in Belize will be eligible for the following:

  • Permanent residency after designation as a QRP for five (5) years;
  • For the grant of any other license or permit necessary for carrying on business in Belize;
  • Practice philanthropy in Belize.

Travel Belize BTB Retire & Invest

Application & Requirements


QRP Retire & Invest Residency Program

A Qualified Retired Person who desires to obtain QRP status for investment or to carry on business in Belize shall apply directly to the Belize Tourism Board for approval. An application shall be submitted in writing and accompanied by the following:

  1. Detailed Business Plan – A formal written document outlining the goals of the business, methods for attaining goals, and the timeframe for achieving goals. The business plan MUST include but is not limited to the following:
    1. The Executive Summary.
    2. Company Description.
    3. Marketing Plan.
    4. Financial Plan.
    5. And Business Plan.
  2. Proof of Investment Capital of at least one million dollars (BZD) $500,000 US. – Original or certified copies of international bank statements, investment account statements issued by a financial institution, and official letters from a financial institution confirming the availability of funds MUST be provided.
  3. Must show proof of having resided in Belize for a minimum of 90 non-consecutive days.


Opening a Business with the Retire & Invest Program

Every Qualified Retired Person who is granted approval to carry on business in Belize under the new program is required to;

  • Employ at least 5 Belizean Citizens.
  • Within 12 months of approval to carry on business in Belize, submit to the BTB proof of employment of at least 5 Belizean Citizens.
  • Within 18 months of approval to carry on business in Belize, submit proof of business operation to the Belize Tourism Board.

A Qualified Retired Person granted approval to conduct business in Belize shall be eligible.:

  • For the grant of any other license or permit necessary for carrying on business in Belize.

One of the major draws is the fact that a person does not have to be residing in Belize in order to apply for the QRP Retire & Invest Program.


Application Requirements

A Qualified Retired Person who desires to carry on business in Belize shall apply in writing to the Belize Tourism Board for approval accompanied by the following.

  • Business Plan [including employment of 5 Belizean Citizens].
  • Proof of Investment Capital [minimum of one million Belize dollars or $500,000 US].
  • Proof of Residing in Belize for over 90 days [passport pages showing the applicant has resided in Belize for at least 90 non-consecutive days].

A Qualified Retired Person granted approval to carry on business in Belize shall:

  • Employ Belizean Citizens [minimum of 5 Belize citizens].
  • Submit proof of employment of Belizeans to the BTB [within 12 months of approval].
  • Submit proof of business operation [within 18 months of approval].
  • Pay full duties and taxes on any business carried out in Belize.


BTB Retire & Invest Incentive

The Belize Tourism Board manages the Belize QRP and Retire & Invest programs.

The QRP is renowned as the most efficient path to foreign residency anywhere in the Americas and one of the primary reasons Belize is known as one of the best places to retire in the region (Caribbean & Central America) and, indeed, one of the best place to retire in the world.

Once the application process is completed, the program grants the applicant the equivalent of a green card and various other incentives. The benefits include a permanent exemption from all taxes in Belize (estate taxes, income taxes, capital gains taxes, and most import taxes).

While the Belize QRP visa offers full-time residency, new residents can enjoy all the QRP benefits without spending the majority of the year in Belize for naturalized residency.

The requirements to successfully enter the Belize Qualified Retirement Program are remarkably simple compared to residency programs elsewhere in the world.


Check out the BTB & Travel Belize for more information on the new QRP Retire & Invest Program and how to apply.

Contact us if you have additional questions regarding Belize residency, investing in Belize, or living in Belize. We look forward to working with you!


Creative Ways to Finance Belize Real Estate

Financing Belize Real Estate

Belize real estate is a desirable commodity for both expats (people relocating to Belize) and investors. Belize real estate financing is not the same as many are used to in the USA or Canada.

Belize has become increasingly popular for its residency programs. It is a top relocation and retirement destination. Many people look at Belize and Belize real estate for personal use and lifestyle. That said, Belize also appeals to potential property owners and investors. What makes Belize real estate so desirable is more than just the climate. In Belize, foreigners purchasing land or property are afforded the same rights as Belize citizens regarding property ownership. Belize is also a tax haven and low-tax jurisdiction, as property taxes are low, and there are no capital gains or inheritance taxes in Belize.

Even though Belize recognizes full-foreign ownership and grants fee-simple title to foreigners (foreigners have the same ownership rights as locals), it can be challenging for a foreigner to finance a property traditionally in Belize. For offshore owners or investors, Belize does not have standard mortgages or bank financing like you are used to in the US or Canada. Most people buying real estate in Belize have to do a cash sale transaction.

The appeal and advantages of Belize property ownership are undeniable – for lifestyle/personal use or investment. Short of purchasing Belize real estate with cash, what financing options do potential property owners or investors have?

Obtaining local conventional bank financing or a standard mortgage can be challenging for a non-resident in Belize to finance real estate.

However, for non-residents (foreigners), there are creative ways to finance property in Belize. Below, you can see some Belize real estate financing options to consider:

  1. Owner Financing
  2. Offshore Financing
  3. Co-Investing


Owner Financing

Owner or Vendor Financing is the easiest way to finance real estate in Belize. Vendor (owner) financing is a convenient and popular form of real estate financing in Belize. Vendor financing or owner financing (aka seller-carried), is when the seller offers owner financing to the buyer of the property offered for sale.

If you are looking for something with vendor financing, you will be happy to know it is an easy process. It is generally a nonrecourse loan with the seller/vendor carrying the note on the property (similar to how a bank carries the note on a home mortgage in the US). You take full control of the property when all parties sign the agreement and the down payment is made.

The terms vary with the seller; typically, the down payment would be a minimum of around 25% down. The seller-finance loan agreement is filed along with transfer and deed forms with the lands department in Belize to protect both buyers and sellers. The title transfer is completed once the final payment has been made and the terms of the financing agreement have been met.


Offshore Financing

Some offshore banks or international banks offer mortgage loans or financing to non-residents or foreigners looking to purchase fee-simple property in Belize. These off-shore banks can provide financing options for individuals and International Business Companies (IBCs).

The terms can range from 5-30 years. Down payment requirements are higher than what many are used to in domestic markets, as most offshore banks lend at a maximum of 60% LTV (Loan to Value). The down payment requirement is often at least 50% down. One of the big advantages of offshore lending over domestic lending is that you can choose the currency of your loan. This facilitates transactions conducted in U.S. dollars (since real estate in Belize is typically in USD) and facilitates acquisitions by Americans.



Buying a home with a co-investor means you share your property’s equity with the investor from the start. Put simply: They’ll share in the profits if your home increases in value and the loss if it does the opposite. Also, share the revenue/passive income.

Investing in a private Belize company that acquires investment properties through pooling funds or local or offshore secured financing is another way to acquire real estate in Belize without having to deal with the headaches and paperwork of obtaining financing on your own.

Whether through pooling funds with other investors or providing the capital for the investment, co-investing is an easy and efficient way to acquire real estate in Belize.


Options for Belize Real Estate Financing

As mentioned above, financing in Belize is more complex than in domestic markets. We do not have the same standard mortgages and bank financing people are used to in the USA or Canada. Most real estate transactions in Belize are cash sales.

You can get a mortgage or loan in Belize from the banks. The bank will charge a high interest rate and require a larger down payment. Because of the conservative nature and banking policies in Belize, the banks are still at a stage where the interest rates are higher than off-shore purchasers are used to. Most banks in the US will not loan to an out-of-country real estate purchase. There are, however, real estate opportunities in Belize with seller or vendor financing. Due to the Belize real estate market conditions, most owners and investors go the route of owner/vendor financing.

Seller/vendor financing (if available) is straightforward. It is a non-recourse loan with the seller/vendor carrying the note on the property (similar to how a bank carries the note on a home mortgage in the US). You take complete control of the property when all parties sign the agreement, and the down payment is made.

There are three ways for purchasers to receive financing for Belize real estate:

  1. Local Belize Financing: Local banks in Belize do offer to finance land and/or property, though it is not easy (especially for foreigners). It is also important to note that the interest rates with Belize banks and terms for financing are usually higher than what people are used to at home. Local banks in Belize usually have much higher interest rates in the range of 10-18% interest with fixed terms of only 12 months. When you get financing from a local bank in Belize, the loan is closed every year and renewed at the new rate. When borrowing or lending from a local Belizean bank, it will be in Belize dollars, and most real estate transactions in Belize are in US dollars. Because most of the Belize real estate transactions take place with U.S. dollars, local financing is challenging. Local banks in Belize will also often only lend money to Belize residents or citizens.
  2. Offshore or Domestic Financing: If you are not a resident or citizen of Belize and are looking for financing, you can borrow U.S. dollars through an offshore bank. In Belize, Caye International Bank is one of the only off-shore banks in the country. Interest rates with international banks in Belize are still much higher than people are used to in their domestic markets and are around 12% to 18%, and most offshore banks, when lending to people who are not Belize residents or citizens, require a high degree of collateralization with a high down payment (often 50%). Some people do acquire domestic financing in their home country through a line of credit or refinancing their home/mortgage.
  3. Owner, Seller, or Vendor Financing: This is the most common way foreigners acquire financing for land in Belize. It is also far more common for someone to find land with financing than it is with a home or condo. Belize property owners and/or developers usually agree to property financing at better rates than the local banks. It is also very easy to qualify, as it is a non-recourse loan. The rates through seller or vendor financing are often less than what is available at local banks and financial institutions. Around Secret Beach, you are able to secure property with 20% down. Within Mahogany Bay, you can secure canal-front land with 25% down.



Using a Self-Directed IRA or 401K

One way to manage costs, minimize the out-of-pocket investment, and ease the burden of taxation is to purchase real estate under a Self-Directed IRA or 401K. These structures are very easy to do in Belize and allow Americans to purchase an off-shore investment property using investment funds. The benefits of ownership under these legal entities include; access to capital for investment, and less taxation on capital gains, thus earning greater profits from the Belize real estate investment.

Real estate investors (from the US) can hold investment real estate in an IRA or 401K to gain access to capital (without paying high taxation) and reduce the tax exposure (as long as the investment capital has not been distributed to the IRA owner).

Under the IRS’s self-directed IRA rules, contributions to Self-Directed IRA accounts can be used to purchase real estate (commercial, residential, or raw land) inside and outside the United States. This allows investors to use Self-Directed IRA funds or a 401K to invest in Belize real estate.

However, contributions to offshore real estate IRAs are subject to additional rules.  For example, while the property in your IRA can be rented to others, you can’t rent it out to your family. The property can also not be used for your own personal use (it has to remain strictly an investment).

Another advantage is that the rental income from an offshore Belize real estate investment through IRA is deferred and can be made tax-free if purchased using a ROTH IRA.  Under this setup, you could, in theory, collect decades’ worth of rental income and not pay US tax.  You only need to worry about taxes when you distribute the income from the property to yourself in the future.


Belize Real Estate Financing

Here are some general steps and considerations for financing real estate in Belize:

  1. Local Regulations and Laws:
    • Familiarize yourself with Belize’s real estate regulations and laws. It’s important to understand the legal framework for property ownership and financing in the country.
  2. Currency Exchange:
    • Belize uses the Belize Dollar (BZD) for general transactions, but US Dollars (USD) is commonly used for real estate.
  3. Local Lenders:
    • Research local banks and financial institutions in Belize that offer real estate financing. Some international banks may also have a presence in Belize.
  4. Mortgage Options:
    • Explore the types of mortgages available, including fixed-rate mortgages, variable-rate mortgages, and other financing options. Mortgage terms and interest rates may vary, so compare offerings from different lenders.
  5. Down Payment Requirements:
    • Understand the down payment requirements. In Belize, it’s common for lenders to require a substantial down payment, often ranging from 20% to 30% of the property value.
  6. Loan Eligibility:
    • Lenders will assess your eligibility based on factors such as income, credit history, and the property’s value. Be prepared to provide documentation to support your financial stability.
  7. Interest Rates:
    • Interest rates can vary, so compare rates from different lenders. It’s important to understand whether the interest rate is fixed or variable and how it may change over the life of the loan.
  8. Loan Terms:
    • Review the terms of the loan, including the repayment period. Some loans may have longer or shorter terms, and this can affect your monthly payments.
  9. Insurance Requirements:
    • Lenders may require you to purchase property insurance. Make sure you understand the insurance requirements and factor the cost into your overall budget.
  10. Legal Assistance:
    • Consider hiring a local attorney with experience in real estate transactions in Belize. They can help navigate the legal aspects of property acquisition and financing.
  11. Due Diligence:
    • Conduct thorough due diligence on the property you intend to purchase. This includes title searches, property surveys, and any potential legal or environmental issues.
  12. Closing Costs:
    • Be aware of closing costs, which may include legal fees, stamp duties, and other expenses. Factor these costs into your budget.


For more information on financing in Belize and Belize real estate opportunities with financing available, contact us at RE/MAX Belize.



Ambergris Caye Investment & Vacation Rental Data October 2023

Ambergris Caye Vacation Rentals

Ambergris Caye has been the epicenter of the Belize tourism surge and COVID recovery. This has led to growth in the Ambergris Caye Real Estate and investment in vacation rentals.

Ambergris Caye luckily has something we like to call “Island Economics.” When investing in an island, there is only so much land available. The limitations on available land create scarcity, not only scarcity of property but also a scarcity of land and completed resale homes. There is only so much land on an island. Island economics means that you see greater property appreciation on an island due to scarcity of property and limitations on how much can be built.

Tourism growth, increased awareness, offshore residency, and improved connectivity have all led to higher investment yields on vacation rental properties on Ambergris Caye. Ambergris Caye and San Pedro Town (the municipality on the island of Ambergris Caye) are by far the top destinations in Belize. Below, we look at the updated tourism data and vacation rental investment opportunities on Ambergris Caye!


Ambergris Caye Tourism

Ambergris Caye has seen tourism hitting all-time highs year-over-year as we become a globally recognized destination. From 2010 to 2023 (13 years), Ambergris Caye overnight tourism (people booking rental units) has grown at an annual compounded rate of 14.8% per year increase, with overnight tourism nearly doubling from 2010 to 2023 (+81.5% increase).


Belize Overnight Tourism



Belize Tourism Board Overnight Arrivals


Ambergris Caye Vacation Rental Inventory

Even though tourism is growing, the total rooms for rentals have stayed stagnant, with limited new losing inventory and often even a decline in inventory. Tourism is growing, and this usually correlates to added supply; that said, Ambergris Caye, Belize, is at the perfect time for investment as we have unique market conditions that have led to increased demand and a decrease in supply inventory.

Rental Inventory on Ambergris Caye has dropped by -4% from 2022 to 2023. Also dropped -13.9% over the last 3 years. This is largely due to the influx of people moving to Belize and the growing expat community and people who can work remotely.


Ambergris Caye Vacation Rental Lodging Inventory


For lodging, as a point of reference, Ambergris Caye saw -4% from last year. Lodging inventory for vacation rentals on Ambergris Caye has seen a -13.9% decrease over the last 3 years.

Ambergris Caye has had a compounded annual tourism growth over 12 years at an average of 14.8% per year.

As you can see, the 3-year trend has been consistent, with many quarters witnessing a dip in rental inventory (even with an increase in demand). This creates a unique opportunity for investors. With the shortage in supply and increase in demand, there is a need for more lodging and rentals.


Increase in Demand + Decrease in Supply = Increase in Price & Rent






Many industry experts predict Ambergris Caye real estate prices and nightly rental rates will continue to increase. This will lead to greater equity appreciation and a higher cash-flow yield.

Even though demand is on the rise, the supply has remained stagnant. With increased awareness comes increased demand, but the lodging and vacation rental inventory supply does not meet the demand growth.


Ambergris Caye Occupancy



In 2022, Ambergris Caye had an average vacation rental occupancy of 54.8%. In 2023, the average occupancy of vacation rentals has been at 61.3%. This is an increase of +11.9% year-over-year (2022 to 2023).



Ambergris Caye Nightly Rental Rates


In 2023, Ambergris Caye has seen ADR (Nightly Rental Rates) for vacation rentals increase by +15% from 2022. In 2023, the average nightly rental rate on Ambergris Caye has been $284 USD per night, which is up from $262 USD per night in 2022.


Ambergris Caye Investment Revenue

The increase in tourism with the lodging and vacation rental supply shrinking has led to higher occupancy and higher nightly rental rates (ADR). The increased occupancy and ADR have resulted in higher revenues. On Ambergris Caye, vacation rental gross revenue is up 30% in 2023 (from 2022).


Annual Average Rental Revenue



What is fascinating is the renal income for detached homes over condos (and the % annual growth).


Detached homes on Ambergris Caye have seen an average annual gross revenue of $88,850 US in 2023 (Airbnb income). Compared to condos, which saw an average gross yearly earnings of $44,300 US. Detached homes also saw a higher % growth at 23% annual revenue growth (condos with 14%) from 2022 to 2023.

For more information on investing in Belize and Ambergris Caye rental income investment opportunities, contact us at RE/MAX Belize!


Belize Residency Information & Programs

Belize Residency

Are you considering offshore Belize residency? Belize makes immigration and residency easy for investors, expats, and retirees looking to obtain Belize residency (for personal or investment).

Belize has been gaining increased popularity among foreigners, retirees, investors, and digital nomads. The Belize residency programs provide enhanced investment and travel opportunities.

In Belize, English is the primary language, and Belize’s legal system is based on British Common Law (a member of the British Commonwealth). Because of the British Common Law and British Parliamentary Democracy, Belize has a stable, democratic government and a stable and dynamic economy (also stable currency pegged 2:1 with USD).

For expats and investors, obtaining Belize residency is not prohibitive like in other countries. Residency in Belize is relatively straightforward, with a few routes available. For expats or retirees, Belize has the Qualified Retired Persons Program and the new Retire & Invest Program. These are great incentives for individuals looking to call Belize home and looking for long-term residency in Belize.

Belize also has investment residency programs that appeal to potential property owners and investors. In Belize, foreigners purchasing land or property are afforded the same rights as Belize citizens regarding property ownership.

Belize has full foreign ownership, and foreign investors can own Belize property outright with a fee-simple title. Belize is also a low-tax jurisdiction, with no capital gains or inheritance taxes (estate tax) in Belize.

The location of Belize (close proximity to the US & Canada), its warm Caribbean climate, low taxes, and welcoming culture make it an attractive place to invest, work, retire, and reside. The Belize residency programs also provide opportunities to travel, start a business, and optimize taxation.

This post provides information on obtaining Belize residency as well as the different residency programs Belize offers and the requirements.


Types of Belize Residency

Belize offers two distinct types of Residency status for foreigners:

  1. Permanent Residency: Permanent Residency would be suited for someone looking at being a resident in Belize. Permanent residency in Belize is for a person (or persons) who want to make Belize their home and will be staying in Belize for an extended period of time.
  2. Temporary Residency: Temporary Residency is for a person (or persons) who have made or are in the process of making a substantial investment in Belize (often in Belize real estate) but, due to commitments outside Belize, cannot meet ordinary Permanent Residence requirements.


Permanent Residency

For persons applying for Permanent Residency in Belize, you are required to:

  1. Have been legally residing in Belize for at least one year from submitting a residency application.
  2. During the one-year period, you have not left Belize for more than 14 days (2 weeks).
  3. Show proof to the Belize Immigration Office that you have been, and you will be able to continue financial stability and independence.
  4. Have not been convicted by a competent court in any country of a criminal offense for which you may have been liable to a sentence of imprisonment of twelve months or more and have not received a free pardon for the crime.

Documents Required for Permanent Residency

  1. Passport
  2. Medical Certificate and Tests
  3. Police Record
  4. Proof of Financial Stability
  5. Photographs
  6. Spouse and Child’s Documentation


Temporary Residency

A Temporary Residence (Temporary Residency) status can be given for one (1) year at a time. The temporary residency must be renewed every year. The temporary residency status becomes renewable at the end of that given period.

For persons applying for Temporary Residency, you are required to:

  1. Apply for temporary residency (temporary investment residency).
  2. Show evidence of investments in Belize valued at not less than Two Hundred and Fifty Thousand US Dollars – US $250,000 (five hundred thousand Belize Dollar – BZ$500,000).

Learn more from Belize Immigration.

Documents Required for Temporary Residency

  1. Passport
  2. Police Record
  3. Letter to Director
  4. Evidence of Residence in Belize
  5. Evidence of Investment in Belize



Belize Residency Options

Here is a general overview of residency options in Belize:

  1. Tourist Visa: Most visitors to Belize can enter the country as tourists without a visa and stay for up to 30 days. Extensions for up to 90 days are possible, but they come with associated fees. This is not a long-term residency option.
  2. Permanent Residency: Belize offers several pathways to permanent residency:
    • Retired Persons Program: This program is designed for retirees. To qualify, you must be at least 45 years old, provide proof of a consistent income, and meet certain financial requirements.
    • QRP (Qualified Retirement Program): The QRP is an attractive option for retirees. It provides tax benefits and allows for permanent residency. To qualify, you should be at least 45 years old, have a consistent income, and meet the financial requirements.
    • Self-Employed Program: If you plan to start a business in Belize, you can apply for permanent residency under this program. You’ll need to invest a certain amount of money in your business and meet other requirements.
  3. Naturalization Residency: The typical way people achieve Belizean residency is through the naturalized residency program. To obtain naturalized residency in Belize, you have to show you have been in Belize for a year (48 out of 50 weeks).
  4. Work Permits: If you plan to work in Belize, you will need a work permit. These permits are generally tied to employment, and your employer will often need to sponsor your application.
  5. Investor Residency: Belize offers opportunities for investors to obtain residency by making substantial investments in the country. The specifics of this program can vary, and it’s advisable to consult with an immigration attorney for details.
  6. Dependent Residency: If you have close family members who are legal residents or citizens of Belize, you may be eligible for dependent residency. This typically applies to spouses, children, or parents of Belizean citizens or residents.


Keep in mind that the process for obtaining residency in Belize can vary from person to person. People have different processes, which may involve various documentation, fees, and specific requirements. It’s advisable to work with someone who specializes in Belizean immigration to guide you through the process and ensure that you meet all the necessary requirements.


Belize Tourist Visa

You do not need to have residency to live or invest in Belize. Residency is not required to own a property (foreigners have the same ownership rights as locals/nationals). Residency is also not needed to be in Belize or visit Belize. If you are visiting Belize (as an American or Canadian), you do not require a travel visa.

When you enter Belize (as a tourist), you are issued a 30-day tourist visa in your passport. Belize is a very easy country to travel to, and US & Canadian travelers do not require any visas when traveling to Belize. The majority of countries and passports can travel to Belize freely and without a visa for 30 days.

Visitors can continue to renew their tourist visa if they want to stay in Belize without restrictions on length (as long as they get their visa renewed).

Americans & Canadians can travel to Belize and remain in Belize without time constraints. When a visitor arrives in Belize, they are issued a 30-day

Belize Tourist Visa


Naturalized Residency Belize

Permanent residents in Belize can work without a permit and no longer need to renew their visas every month or year. The naturalized residency (which requires time) is the most common route for Belize residency.

To be eligible for permanent residency in Belize, you need to live continuously in the country for one year without leaving the country for over 14 days. You must apply through the Department of Immigration and Nationality Services.

The typical way people achieve Belizean residency is through the standard residency program. To obtain residency in Belize, you have to show you have resided in Belize for a year, and have been in Belize for 48 weeks of the year. This is a naturalized residency.


Belize Investment Residency

The Belize Investment Residency program is designed for investors and entrepreneurs with investments in Belize valued at a minimum of $250,000 US.

The most common Belize investment for residency is through Belize real estate investment or owning Belize land. You can apply for the investment residency through proof of land or real estate in Belize valued above $250,000 US.

The most common sector is real estate investment, but there is also business investment. There are no restrictions on the business or any fixed sector to invest in. You can invest in tourism, agriculture, etc. This allows you to live, work, and conduct investments and business in Belize.

The investment residency can be done remotely. A person applying for the investment residency does not need to be in Belize to file this application.

The Belize Investment Residency is also called the “Temporary Investment Residency” and allows investors in Belize to obtain residency if they show they have invested over $500,000 BZ ($250,000 US) in Belize. This is most commonly done through real estate. The reason it is called “Temporary” is that you have to show every year that the investment continues in Belize.

Investment Residency is for one (1) year at a time. The temporary investment residency must be renewed every year.

Belize Investment Residency


Belize Qualified Retired Person Program (QRP)

If you are over the age of 45, have no intention of working in Belize, and can prove you meet the monthly retirement income requirements, you may qualify for the QRP (Qualified Retired Person) Program. The QRP program grants residency to people who hold status. The QRP is renewable each year, with the only requirement being that you spend a minimum of 30 days of the year in Belize.

Learn More About Belize QRP


Belize Work Permit

If you plan to work in Belize as a foreigner, you may require a “Work Permit.”

If you are planning to work for a company in Belize, the company hiring you will sponsor the work permit on your behalf. Suppose you are self-employed or planning to start a business in Belize (and work at the business). In that case, you likely need to apply for a self-employed foreigner or business registration.

If you do not apply for a residency status and continue to work and live in Belize, the work permit will be renewed annually.


Belize Citizenship

After living in Belize for at least five years as a permanent resident, you may be eligible to apply for citizenship through naturalization. The requirements for naturalization can change, so it’s essential to check the most recent criteria.

Once you’ve been a permanent resident for at least five years, you can apply to become a citizen of Belize. Belize allows dual citizenship, which means you can maintain Belizean and offshore citizenship (and passports). It is attractive for investors as they do not have to relinquish their domestic citizenship when they acquire Belizean Citizenship.

Belize recognizes dual citizenship. The Nationality Department does not require you to renounce citizenship from other countries.

Once you have Belize citizenship, you get the benefits of Belize’s CARICOM membership. With Belizean Citizenship, you can move freely through, live, and work in other Caribbean member countries.



Belize Residency Process

The process for residency varies depending on the person and the program. That said, generally, the residency process goes as follows;

  1. Step 1: Gather the required documents
  2. Step 2: Submission of application
  3. Step 3: Interview with Immigration
  4. Step 4: Interview with Police Department
  5. Step 5: Notification by the Immigration Office
  6. Step 6: Payment and Submission of Security Bond
  7. Step 7: Delivery of Residence Card

Belize Residency is relatively easy to acquire. You will need to follow the necessary steps. All applications are also subject to a background check or Police Record Check.


Residency in Belize

Belize offers a good range of visa and residency options covering just about any reason for being in Belize. Which option is right for you depends on your purpose for being in Belize:

  1. Long-term Scouting Trip: If you’re visiting Belize to test if it might be right for you as a new home, the Belize Tourist Visa (with renewals) will be your best choice.
  2. Snowbird or Wintering in Belize: If you’re escaping the bitter cold of “home” for several months each year or using Belize as a part-time vacation home, the Belize Tourist Visa (with renewals) is also your best option.
  3. Retiring in Belize: If you plan to retire and move to Belize with no intention of working (or running your own business), you should look at the Qualified Retirement Program. If you plan on opening a business or investing, you may want to look at the new Retire & Invest Program (through QRP and BTB).
  4. Moving to Belize: If you want to move to Belize but plan to work (or run your own business), a Work Permit may be the right direction. After a year, you can have naturalized Belizean residency.
  5. Investing in Belize: If you are looking to invest in Belize and have an offshore residency through investment, the Temporary Investment Residency could likely be a great option.


If you seek to obtain offshore residency with ease, with a minimal physical presence in the country, Belize residency may appeal to you. There are a few options and routes someone can take to obtain Belize residency. If you are looking at offshore residency or want to learn more about Belize Residency, contact us!



Luxury Tourism & Luxury Market in Belize

Luxury Tourism & Luxury Market

Belize tourism and Belize real estate is expanding the luxury market. The luxury travel industry has grown unprecedentedly in recent years due to rising spending power, an expanding middle-class population, emerging luxury trends, and the expansion of luxury hotels.

The definition of luxury travel has evolved dramatically in recent years, and people are now far more adventurous. They are more interested in experiencing local customs and cuisine.

Earlier this year, a survey from found that luxury tourism has recovered quicker then budget tourism.

The global luxury travel market is expected to grow at a compound annual growth rate of 7.8% to 8.9% from 2022 to 2032, reaching a market size of USD 2.32 trillion to 2.76 trillion by 2032.


Caribbean & Central America Luxury Tourism

The Belize Region, with the Caribbean & Central America as a whole, outperforms the average recovery trends of the Americas, Europe, and Asia Pacific in the Luxury Tourism sector. This is shown in the revenue and profit trends.

The Caribbean & Central America Region (including Belize) has a higher ADR and Occupancy than other Western Hemisphere markets like Mexico, Canada & USA for luxury tourism.

The Caribbean & Central America Region is expected to have an annual tourism GDP growth rate of 5.5% to 6.7% between now and 2030.


Belize Tourism & Luxury Market

The Caribbean & Latin American (Belize) luxury tourism industry will likely be one of the fastest growing between now and 2032, with the most opportunity.

Belize, with the BTB (Belize Tourism Board), has taken steps in advancing and growing the Belize Luxury Tourism Industry.

Luxury travel services cover the most desirable and premium experiences in terms of luxury accommodations, convenient transport facilities, and authentic and exclusive travel experiences.

The Luxury Tourism program aims to provide outstanding, exclusive, and convenient tourism services and experiences to tourists and locals. In Belize, some of the recent announcements around luxury tourism include;


Regional Data on Luxury Tourism

What we have learned during every economic turn is that luxury tourism is still a driver. At CHRIS & HOLA (Caribbean Investment Summit & Hotel Operators of Latin America Summit), the data on luxury tourism was shared and how it performed in the market.

Even though luxury tourism appeals to a smaller demographic (unlike cruises and all-inclusive), they are more consistent, yield higher returns, is surprisingly not susceptible to market fluctuations, have better occupancy, and better clientele. The most interesting take is that if there are slower periods, the luxury market can lower prices and push out the “non-luxury” market.

Belize as a whole is pushing luxury tourism, making it easier for yachts, allowing FBO and private planes, creating direct flight routes from high net-worth locations, etc. With all this push, Belize is working on becoming a Cayman Islands, Maldives, Turks & Caicos, Bahamas, or St Martin, instead of a budget destination like Mexico or the Dominican Republic.

Belize is also seeing far more celebrities and high net-worth travelers visiting Belize and Ambergris Caye. But what is interesting is the fact we do not have many of the luxury villas in our lodging inventory to accommodate these travelers.


Luxury Tourism

If you build a luxury house/villa with outdoor space and amenities (even 2, 3 or 4 bedrooms), you will capture the luxury tourism market. The house or unit does not need to be large; just provide fixtures, touches, service, etc.

With luxury tourism and luxury travelers, owners/investors are able to charge any nightly rental rate you want. Example: Rolex does not compromise the price of new watches even during an economic downturn, and every store you visit is always sold out.

Earlier this year, a survey from found that luxury tourism has recovered quicker then budget tourism.

The global luxury travel market is expected to grow at a compound annual growth rate of 7.8% to 8.9% from 2022 to 2032, reaching a market size of USD 2.32 trillion to 2.76 trillion by 2032.

The 2022 Global Travel Trends Report of American Express Travel study found that 58% of respondents opt for solo travel to visit their dream destination, strengthening the demand for luxury travel.

The Caribbean & Latin American luxury tourism industry is likely to be one of the fastest growing between now and 2032, with the most opportunity.


Regional Luxury Market

The luxury segment in the region (Belize) is ahead of the all-inclusive and full-service properties in profit margin growth and opportunity.

Luxury Tourism has a Higher ADR (Average Daily Rate & Nightly Rental Rate) and Better Occupancy than full-service or all-inclusive.

Luxury Tourism sees year-round bookings with better ADR and occupancy in high and low seasons. Luxury tourism has less volatility and seasonality. There is no low season in the luxury market segment in the region. Luxury has seen heightened off-season months.

Profit margins are higher in luxury tourism, with annual and quarterly revenue and profits rising due to more substantial rate increases. Luxury tourism has a much higher revenue per room or unit.

Belize Luxury Tourism Announcements

Luxury travel services cover the most desirable and premium experiences in terms of luxury accommodations, convenient transport facilities, and authentic and exclusive travel experiences. The overall aim of the Luxury Tourism program is to provide outstanding, exclusive, and convenient tourism services and experiences to tourists and locals.

  • Four Seasons on Caye Chapel
  • Six Senses on Ambergris Caye
  • FBO & Private Aviation
  • Yacht & Nautical Tourism
  • Filling Luxury Tourism Market Gaps
  • Fine Dining & Restaurant Facilities


Belize Travel & Facilities

Belize has a range of initiatives and infrastructure programs coming in to enhance and increase tourism. With additional flights (including New York JFK), improved transportation, etc. You can see some of the tourism enhancements and initiatives below;

  • 3 million anticipated passenger movements at PGIA (Belize International Airport BZE) in 2045.
  • PGIA (BZE Airport) Facility Extensive Upgrade underway and expected completion in 2040.
  • Enhanced Border Facilities.
  • Increased – Ground Transportation Connections.
  • Domestic Airlines with expanded international routes.
  • Interregional connectivity.
  • Renovations at Municipal Airports to expand Private Aviation.
  • Addition of FBO facilities at national and domestic airports.

Learn more about traveling to Belize internationally.

To learn more about Belize real estate and investing in Belize contact RE/MAX Belize. We look forward to sharing more information on Belize and opportunities in the luxury tourism market!