Want to Really Retire Away from It All?  Consider Affordable, Laid-Back Belize

Cost-of-Living:  Roughly 2/3rds of U.S. National Average

Located about 10 miles south of the Yucatan, Mexican border, modern, yet sleepy, seaside Corozal Town sits on beautiful Carribbean Corozal Bay in the very most northern section of Belize, and it is one of two relatively large towns in the area (the other is Orange Walk Town).   Unspoiled and tucked away from the hustle and bustle of modern-day life, Corozol Town beckons to retirees who have a sense of adventure, some self-reliance, a willingness to taste another culture and who do not need all of the amenities found back home.   Belize is a stable democracy in which you can work, live, and own property without having to give up your present citizenship. 

This area boasts a rich Mayan heritage with ruins and artifacts still being discovered.  Savannah covers the landscape, and sugar cane and livestock production are the economic mainstays.  The economy is slow-growing, but more money is flowing into town with the new Free Zone (where one can operate a business tax-fee) having been established.   Being so close to the Mexican border, the Corozal Town has a distinctly Latin Carribbean feel, and Spanish is the predominant language, although English and the Creole dialect are also spoken.  Northern Belize is generally regarded as a "melting pot," with several populations found here, including Mayans (the only indigenous group in the country), Mestizos, and perhaps most interestingly, Mennonites who came to Belize in 1959 seeking religious freedom and escape from modern life.   Creoles, Chinese and East Indians can also be found in this eclectic spot.

Moving Here

Belize passed in 1999 the Qualified Retired Persons Incentive Program.  Retirees age 45 and over from anywhere in the world who can demonstrate that they have guaranteed incomes of $2,000 USD a month to deposit in a Belizean bank and who meet certain other requirements are permitted to live in Belize, bringing in a household goods, a vehicle, boat and even an airplane free of import duties.  This program, however, has stalled in recent years.  As a result, most expatriates who live in Belize for part of the year are in the country on a tourist card only.  Under new regulations passed in 2005, after 30 days tourist card holders can apply for a monthly renewal for up to three months for $25 USD, and after that, for a total of up to one year, for $50 USD a month.   After a year, the individual has to leave Belize and return to start the process over again.

Health Care

The health care system in Belize is generally considered good, although there is a shortage of doctors in the rural areas.  The Belize government maintains seven state hospitals throughout the country where Belizians receive low-cost and even free health care.  One such hospital is located in Corozal Town (Tel: 422-2076).  Care is solid but may not be what you are accustomed to back home, although most physicians are well-trained (usually outside of Belize).   Medicare is not accepted outside of the United States, so for routine medical and health issues, we recommend paying for services on your own.   Check with the U.S. Embassy for a list of private physicians in Corozal Town and expect to pay $15 on average per visit.  Chetumal, the capital of the state of Yucatán, Mexico and just north of Corozal Town,  has private physicians and clinics and is another option for health care (and shopping).

For major illnesses or emergencies, we recommend maintaining catastrophic insurance coverage through your current insurance carrier and knowing that you will need to travel back to the U.S. for care.  To maintain comprehensive insurance coverage while in Belize could become prohibitively expensive as you age. Evacuation flights can be expensive so check with your insurer to see if this is covered.  Some credit cards provide this coverage, as do some travel insurance companies.  

Cost-of-Living

Expatriate retirees are attracted to Corozal Town because it is one of the least expensive areas in Belize (thanks to its close proximity to Mexico).  Generally, Belize is considered the most expensive country in Central America, but it is very possible to live here on $500 a month.  If you choose to live in Corozal Town, it will be more, but a lot of it depends on the level of luxury you desire.  A movie ticket is $5.  A teeth cleaning at local dentist is $35.  Take-out pizza is $9.  Bananas are 20 for $1.  Cable TV is $20 a month.  Water delivery is $40 a month.  Electricity is $200 a month (high).  Telephone service is $5 a month (installation can be $50 to $200).

Real Estate

The primary reason retirees come to Belize is for the cheap real estate.  Corozal Town attracts retirees for the same reason.  It is still possible to buy good-sized lots with Bay views for as little as $30,000 or a three bed retirement home close to all amenities in town for $65,000.   Monthly rent for simple, Belizean-style two-bedroom house in Corozal is about $100-$300.  Monthly rent for a nice North American-style house in Corozal is $400-$800.   You can also buy a “prefab” Mennonite-made house, roughly 1,100 sq. ft, and set it up on your lot for $14,000.

Consejo Shores is an expatriate retirement development seven miles outside of town that offers homes for sale and rent.  It was founded in the early 1970s by a Canadian expatriate who now offers luxury amenities for fairly reasonable prices (homes start around $130,000 and rents begin at around $450 for single family homes).

Real estate continues to be a cash transaction.

Socializing and Getting Around Town

Don't worry.  You won't be the only expatriate here.  You can meet others who have left behind the stress and headaches of the civilized world at Tony's Inn aand Beach Resort or at the Corozal Bay Inn.  

The town is compact and well-planned so you can really walk nearly anywhere, although taxis are available for hire.  There are banks, a police station, restaurants, hotels, etc.  The Belize Tourism Board also has an office here down on the waterfront.

We always do recommend that you visit any foreign destination before planning to make a retirement move (you would be surprised how many people do not).