Why This Central American Country is Worth Considering
While most people focus on expat favorites Costa Rica and Panama, when looking at Central America, Honduras is mostly forgotten about. Here we’re going to look at why it could be worthwhile getting residency in Honduras.
If you’re from North America, Honduras is very convenient. Flights are inexpensive and easy to find from major cities in North America. With direct flights available from New York City; Miami; Houston; Dallas; Atlanta; Charlotte, N.C.; Los Angeles; San Francisco; Chicago; Washington D.C.; Philadelphia, and Toronto. So, for Americans and Canadians, it’s ultra-convenient to have residency in Honduras.
It’s a Tropical Paradise
It’s a tropical paradise with a Caribbean flair. With its white-sand beaches and turquoise water, Honduras looks like a picture postcard — but maybe one featuring surfers rather than palm trees. That’s because Honduras has miles upon miles of coastline along both the Caribbean Sea and the North Pacific Ocean — more than 1,000 miles on each side of the country!
The mildly dry season runs from November to May, while the mildly rainy season runs from June to October. Humidity is highest on the Caribbean coast and lowest in the interior highlands
There’s No tax on foreign income
Honduras is a territorial tax country. That means it doesn’t tax foreign income. This is a key reason why you might consider residing in Honduras. This includes things like income from rent, business profits, and returns from investments. Also included is any inheritance that you receive from outside the country.
In addition to the tax benefits of living in Honduras, there are other reasons for choosing this country for your residency.
Honduras is a fantastic choice for retirees. The cost of living is low, and the immigration program here makes it easy to get residency. If you’re looking for a place to retire, Honduras checks all the boxes.
It’s Home to The Bay Islands
Honduras is home to the second largest barrier reef in the world, which spans 185 miles! This makes it a perfect destination for scuba diving and snorkeling. The Bay Islands, also known as Islas de la Bahía, is an archipelago of 58 islands in the Caribbean Sea known for their natural beauty and amazing beaches. Roatán is a popular tourist destination that is famous for its coral reefs. Diving enthusiasts can swim with dolphins and fish on this beautiful island.
The beaches are a big part of the island’s attraction. There are over 100 beaches on Roatan and many options for beach lovers of all types. Some beaches are remote and private, only accessible by boat or long hikes through the jungle. Many beaches are lively and full of activity, with bars that serve cold drinks and play music or offer water sports like kayaking, diving, kite-surfing, or kite-boarding. Other beaches are located in town, where you can pick up some local food at a beachside restaurant while you relax in the sun.
Import Tax Exemption
Unlike Costa Rica, Honduras offers generous exemptions for the importation of a personal vehicle and household goods. Costa Rica used to offer similar exemptions but got rid of them as the country became more popular for expats. These tax dispensations are very useful when you have residency in Honduras and will save you thousands on import taxes.
Easy to Get Residency
There are a couple of ways for expats to get residency in Honduras. You can prove a regular income from a source like a pension. For this option, you must be able to prove an income of at least $1,500 per month. If you don’t have a pension, you can apply as a Rentier and prove other sources of income, such as rent received for this category. You’ll need to show income of at least $2,500 per month.
Alternatively, you can set up a business in Honduras and hire yourself as a key employee. This will also get you residency in Honduras. In common with all Latin American countries, processing times can be slow. You should allow 6-9 months to process your residency in Honduras.
Become a Citizen of Honduras After Only 3 Years
Honduras citizenship can be one of the fastest to obtain in the world. It’s a good travel document too. It offers visa-free access to the EU, the UK, and all of South America.
If you’re Central American by birth, you can get a Honduran passport in as little as one year. You can get a Honduran passport in 2 years if you’re Spanish. For anyone else, it’ll take three years of residence in Honduras. However, there’s a little-known way to get one instantly if you follow the process obtained in Second Passport Blueprint.
Low Cost of Living
According to numbeo, the cost of living in Honduras is up to 75% lower than an equivalent city in the US or Europe. Rent can be as little as $400 per month in the capital city, and you can eat out for as little as $5 per head.
Get in touch with Liberty Mundo to help prepare your backup plan. Make sure you have options in the future with a second passport and a home in a tax-free haven.
How do I become a resident of Honduras?
There are several ways to get residency in Honduras. You can apply as a pensioner or a rentista. There is no minimum age requirement for either of these programs.
Can you immigrate to Honduras?
Yes, residency in Honduras is open to everybody. The Honduras immigration website can be found here. The Spanish language will be useful though as English is not widely spoken.
Is it easy to immigrate to Honduras?
Immigration to Honduras is pretty straightforward. Particularly if you’re from Europe or North America.
Can I live in Honduras while apply for residency?
Yes, you can apply for residency in Honduras after you arrive in Honduras.
Discover how to get an instant citizenship in Latin America and in other parts of the world. Start working on your back up plan and reclaim your freedom. Find out more about Second Passport Blueprint here.
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