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M A Y caribbean, west indies, real     estate, property, land, retiring, moving, relocating, living, working, expats, international living, overseas,     abroad, caribbean property magazine, caribpro 2 0 0 9
Issue 28
An online magazine about investing, living, working and relocating to the Caribbean.
EDITORIAL
Ramblings, thoughts and occasional sense from the Eastern Caribbean >>
HOT OFF THE PRESS
Events and news from around the region >>
SUSTAINABLE LIVING
Sharing resources and best practices >>
TOURISM TREATS
Updates on Caribbean tourism, conferences>>
DID YOU KNOW?
Interesting stuff, websites, facts and more >>
Investment
SPECIAL FEATURES

Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Belize Last Land Of Opportunity?
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working La Romana Cradle Of Luxury
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Adventures On The Nature Isle
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working The Ultimate Caribbean Holiday
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working The Adventure Continues Musing Of An Expat

COUNTRY FOCUS : JAMAICA
 MONEY PAGES

Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Is Offshore Legal?  Advice on moving, finding and saving money for your Caribbean property >>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Mortgage Matters  Good advice on mortgaging your Caribbean dream and retirement home >>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Investors and Funding  Insider knowledge on funding for your developments >>>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Passports to Offshore Security  Economic citizenship, 2nd passports, protecting assets >>

PROPERTY PAGESS

Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Caribbean Investor And Owner Notes News and opportunities from CaribProperty Club Notes>>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Clews Views Offshore insights from a Manhattan realty guru>>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Off-Plan Pre-Development Offers Our recommended deals from the best developers >>
Caribbean Property Magazine, Real Estate, jobs, relocation, living and working Pick of the Month Editor's choice of interesting business and real estate opportunities >>

 

S P E C I A L caribbean, west indies, real estate, property, land, retiring, moving, relocating, living, working, expats, international living, overseas, abroad, caribbean property magazine, caribpro F E A T U R E S

BELIZE : LAST LAND OF OPPORTUNITY?
Part 1 of 3   
By Philip Hahn


“It’s an entire country that feels like a small town,” I told my wife as we coaxed our little Ford Ranger through the Belizean rainforest.

Suddenly my reassuring words were questionable; the coast was within sight, we were three miles into the jungle and “Blue King” (our little Ranger) was stuck.
Belize : Last Land of Opportunity?

With the Caribbean only yards away, there was only one solution; go swimming. Of course, before I jumped into the water, my better-half thought I should try to first call someone on my cell phone. Low and behold I was able to call my office in the states and relay a message to my friends in Belize. After a nice 30 minute swim we heard the voices of our rescue squad approaching from the forest, “Mr. Phil, everything is okay?” As we went to check on “Blue King,” we were greeted by 22 Belizean friends with four 4WD trucks. Needless to say, we both realized right then and there the importance of a country that operated with the values of a small town.

In 2003, during the real estate boom I was approached by a realtor with an offering for 115 acres in Belize. As a “typical American” I asked, “Where the hell is Belize,” (you can still get T-shirts at the airport with that saying printed on them). Once it was explained to me that Belize is the former British Honduras I remembered hearing about the awesome reef and world class scuba diving, snorkeling and fishing. Then I recalled that it is south of Cancun and the Yucatan Peninsula.

Belize : Last Land of Opportunity?

I immediately called my old high school buddy, Dave Drummond, who had been researching off-shore destinations. After putting the property under contract we began doing our research and planning our visit.

As we learned more about this tiny country that has escaped so many people’s radar we realized that it was far more than a scuba divers hangout (the Belize Barrier Reef is a World Heritage Site and the largest “living” reef in the world). We discovered that Belize has vast rainforests, the Maya Mountain range, abundant fresh water rivers, fifty percent of the country is in protected reserves and a population of less than 300,000 people treading lightly on the land. When we read that it was an English speaking country with a British Common Law tradition we couldn’t get there fast enough.

Dave and I had very little maritime experience so we invited Captain Bill Carey, my wife’s uncle, along on the trip to get his thoughts about our waterfront property. Bill has spent his life plying the waters of the Florida Keys and the Bahamas. Together we went to Belize and viewed the property from land, sea and air. In fact, we viewed the entire country by air; it really is a small country.

“WE FOUND PARADISE!”

The thing that sold us from the very beginning was the genuine hospitality of the Belizean people. Dave and I shook hands and said, “We found paradise!” At the time we didn’t have a real plan for the property, but we agreed that if nothing else, “one day the kids will be glad the old man picked it up.” Bill on the other-hand was approaching retirement and wasn’t interested in 115 acres of riparian forest; he couldn’t get his mind off of the hundreds of islands surrounded by reef and crystal clear water. He immediately shifted his retirement plans from the Bahamas and the Florida Keys to Belize.

Even though, between the three of us, we had been to several countries before we went to Belize, we decided that, for comparison sake, we would continue to look at other Caribbean and Central American destinations. After traversing all of the obvious ones we kept coming back to Belize. It became apparent that no other country has what Belize offers. During our search I came across a book, “Belize: Ecotourism in Action,” by Meb Cutlack in which he says, “With its British educational and legal systems still intact, this English-speaking enclave sits serenely amidst its temperamental Latin neighbors.” I realized then that I was wasting time. It was like looking for your keys in one more place after you’ve already found them. There’s a reason your keys are always in the last place you look; because you stop looking. So, we stopped looking and started planning.

OUR ENTHUSIASM AND LOVE FOR BELIZE MOTIVATED US TO PLAN A NEW CARIBBEAN VILLAGE BASED ON TRADITIONAL TOWN PLANNING PRINCIPLES


What started out as 115 acres for the Hahn/Drummond family estates quickly evolved into a place where extended family and close friends could own a piece of paradise. Niccolo Machiavelli said, “Make no small plans for they have no power to stir the soul.” So what did Dave and I do next; we decided to build a town. Our enthusiasm and love for Belize motivated us to plan a new Caribbean village based on traditional town planning principles (New Urbanism).

With our roots in the small Midwestern town of Holland, Michigan, we always appreciated the camaraderie of that type of environment. What we really longed for was a tropical setting with a genuine sociability and set about building a town with that sort of environment in Northern Belize…we call it Orchid Bay. Many of our family and friends own property in our little town, and while we build houses, I constantly have “a party in my head” envisioning all of us under the thatched roof “palapa” having ceviche and rum drinks. The “palapa” and the first few houses are built and the real party is about to begin.

As you can imagine it’s no small task building a town in the “jungle” and the stories we can tell from the last five years would fill the pages of Caribbean Property and Lifestyles Magazine. However, seeing the satisfaction on the faces of our Belizean friends, as they watch our efforts,  is priceless. It really does “stir the soul.”

Belize : Last Land of Opportunity?

Aside from family and friends who own property in Orchid Bay we have several others who are now working on the development with us. This article is the first of a three part series, and in the upcoming installments you’ll read about some of the others and their experiences in Belize. Additionally, I’ll be writing about other expats who are living and working in Belize. Throughout the country you’ll find people who have relocated to Belize and started restaurants, construction companies and resorts.

The reality is most people in Belize have come from abroad; some recently and some decades ago. For example, the Mennonites came to Belize in the 1950’s and now operate the largest poultry business in Belize, they also build houses, roads, dams and bridges.

Belize is appealing to so many expats because of its proximity to North America and its history of stability. As Open Road Travel Guides puts it, “…easily reached from the United States by frequent air service… Peaceful and non-meddlesome, blissfully unimportant, Belize rarely merits attention in any foreign newspaper.” Actually, those are some of the main attributes that make Belize so attractive to me. The best way to describe Belize is that it is a small country that is secluded, but not isolated.

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BELIZE IS AN ENDLESS STRETCH OF REEFS, RAINFORESTS, MOUNTAINS AND RIVERS THAT CREATES AN AWE-INSPIRING EMOTION...

And certainly, Belize really is the land of opportunity. What must have appeared to be an endless stretch of reef, rainforests, mountains and rivers to the Maya, Spanish and English; provides the same awe-inspiring emotions to those blessed with the opportunity to explore its wonders today.  This is evidenced by the ancient Mayan ruins which are a record of the Maya’s stewardship of the land and a guiding force for modern Belize.

In this first installment in the series of articles about Belize I wanted to introduce you to the country with some first-hand experiences. The following are some interesting facts about the country. Belize is universally recognized as a stable British Commonwealth nation whose currency is pegged 2:1 to the US dollar.  The children of Belize learn English as the first language which minimizes the communication barriers typical of other Central American countries.  And just as the ruins remain an iconic legacy to the Maya, the British common law traditions stand as a secure haven for foreign investment.  Property ownership through clear deeded title, a strong international banking presence, flexible corporate structures, offshore trusts and curtailed capital gains taxes are all institutions left behind by the British.
Ideal Geography

“MOTHER NATURE’S BEST KEPT SECRET”


Belize is tucked away in the Western Caribbean and sheltered from tropical storms by the Belize Barrier Reef and the lower Yucatan Peninsula. It borders Chetumal, Mexico a modern city of 350,000 people (more than the entire country of Belize) the capital of Quintana Roo, the Mexican state that is home to Cancun, Playa del Carmen and Tulum. It boasts numerous wildlife, marine and forest reserves that allow Belizeans and visitors to view species that are endangered in other parts of Central America yet flourish in healthy populations in Belize.

Among the jungle canopies and mangrove inlets you’ll find colorful birds, flowers, fruits, butterflies and even the elusive jaguar. It has hundreds of miles of freshwater rivers including the Belize River, the site of the annual Ruta Maya (Route of the Maya) canoe race. The rivers were the Mayans highways and byways. It is estimated that there are more unexcavated Maya cities in Belize than anywhere in the ancient Maya world. Several archaeological sites have been excavated and are very accessible and unquestionably awe inspiring. The Belize Tourism Board calls Belize, “Mother Nature’s Best Kept Secret.”

English-Speaking


English is the official language of Belize. If you are already proficient in English, you won’t have to learn another language to conduct business. Locals also speak Spanish, the mother tongue of Central America and Belize Kriol, an English-based creole. Less well known are the ancient Maya dialects, Garifuna (which is Arawakan based, with elements of the Carib language, French, and Spanish) and the Plautdietsch dialect of the Mennonites. Belize has six different cultures, with eight different languages. This diversity has resulted in a society of great tolerance and no political unrest.

Politically Stable

The government of Belize is stable, maintaining friendly relationships with other governments throughout the Americas and the world. Formerly a British colony, Belize is a member of the British Commonwealth. Locals enjoy safe, secure communities and pride themselves in maintaining their naturally rich environment.

Belize Offers Clear Title

Foreigners have the same rights as Belizeans regarding land ownership. Title is conveyed in a land certificate and it is a free and clear title. First American Title Insurance Company provides title insurance in Belize. Citizenship is not required for land ownership.

Retirement Program Advantages

You don’t have to be of U.S. retirement age to take advantage of the retirement incentives and lower cost of living in Belize. The Qualified Retired Persons (QRP) program provides incentives to foreigners retiring to the country. You must be age 45 or older, have a monthly income of at least $2,000 and comply with some other minor requirements. You are only required to live in Belize for one month of the year. Details of the program are available at . The site is hosted by the Belize Tourism Board, which administers the QRP program.

Lower Cost of Living

Belize is still less expensive than comparable Florida, central Caribbean and Mexican real estate and can be maintained at a fraction of the cost. The path of progress is making its way south down the Yucatan Peninsula, but Belize is still undervalued due to the government’s small tax base and inability to market the country. All of this makes Belize an attractive investment for vacation, retirement, or rental income

Belize is Still a “Mezzo Market”

Belize is still "off the radar" for many investors, but that won't last. Buying now is a great way to take advantage of this “mezzo market,” a term coined to describe markets that are not quite emerging and not yet developed. The risk/reward profile in Belize is much more comfortable than purely speculative real estate markets elsewhere in Central America

When Dave and I first arrived we recognized that one of the most compelling things about Belize from a property ownership perspective was how it was situated right in front of the “Path of Progress.” With relatively little private land available we were glad to know that it won’t become a victim to urban sprawl. The combination of those two factors reassured us that the intrinsic value of the land in Belize will continue to appreciate even during the current economic crisis.

Another fact about Belize that buoyed up that analysis was that after 9-11 Belize was the only Central American or Caribbean country to see an increase in tourism; I’m sure it’s because it’s “blissfully non-meddlesome.”

Belize : Last Land of Opportunity?
Stay tuned for the next installment in this three part series where I’ll explore the Four “R’s” of Belize; Reefs, Ruins, Rivers and Rainforest. In that context I’ll provide information on resorts, restaurants and tours.

Author : Philip Hahn is the co-founder and Chief Vision Officer for Great Land Holdings. Phil identified the original opportunities in Belize and is responsible for architecture, strategic direction and sales. Phil has been designing homes in Florida and throughout the Southeastern U.S. for over twenty years and is certified by the Institute of Classical Architecture. Combining his love for architecture, planning and education, Phil has served on government advisory councils as well as several association and college boards. After several years of working with land planners and developers, Phil expanded his design business to include building and land development in Florida. In 2003, foreseeing a decline in the Florida real estate market, Phil further expanded off-shore into Belize. Phil's more than twenty years in the Florida real estate industry provides Great Land Holdings with an experienced eye for opportunity and direction. Phil has a Bachelor of Science from Florida State University. 

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Last Updated On : 01 Sep 2010