RetireRoatan

Roatan's Exponential Growth Factor

Roatan is really gaining momentum in its growth.  The sleepily little undeveloped  island is transforming right before our eyes.  I am being generous when I say the island is < 10% developed as not to steer anyone wrong, however, the developed areas are exploding and beginning to spread out.  The two vehicles you see the most these days are taxis and cement trucks. The mall complex being built in the French Harbor (15 min. east from the airport) is being completed with cement trucks going in and out like waves.  The mall will bring in the islands first big chain restaurant Applebee's.  The island's first golf course has finally revealed its course layout

What is the West End Like for a Retired Person?

First, the West End is two strips of sandy beach that make up two bays (West End Bay and Half Moon Bay). In between the two bays lies a narrow rocky peninsula with several high end villas facing Half Moon Bay. The
West End is a unique and very quaint area of Roatan. It is full of cruise boat tourists, dive vacationers, island vacationers and back-packers who wind up staying for a months. It is easy to recognize the back-packer because they usually tend bar or wait tables for a few months and they all congregate at the same little bars on the beach. The various cultures of the transient back-packers, local island people, and mainland Hondurans really make this place a unique island location that everyone MUST visit (not to mention the INCREDIBLE beaches).

Free Tourist Zone . . What Does It Mean?

In January 2007, the Honduran government, with the express purpose of promoting tourism and investment in the Bay Islands, passed the Bay Islands Free Tourist Zone law (ZOLITUR-Zona Libre Touristica del Departamento de las Islas de la Bahia). An administrative commission-made up of high-ranking representatives from various institutions- is currently writing policy that will regulate application of the law, and is expected to be completed in mid-2007. Update . . we are very close!

Under ZOLITUR, Bay Island residents will benefit from tax exemption on all imported goods and services. Simply put, if you are a resident, you'€™ll be able to import duty-free any legal and non-restricted item you want. Vehicles will probably be restricted in some way. Another benefit will be lower prices, presumably retailers (importing duty-free goods) will lower the price of consumer, but you can still expect to pay the 12% sales tax in the store. Another benefit to residents is a capital gains tax of only 4% as compared to 10% on the mainland.

Going into Business in Roatan

You must establish a Honduran legal entity to go into business in Honduras. There are several types of businesses used in the country, but the most common are Comerciante Individual (Individual Merchant) and Sociedad Anonima (Limited Liability Corporation). Foreigners are allowed to form companies, but if you want to work or name yourself General Manager, you must have residency to do so legally. If you don'€™t currently have residency, then you can name a manager that is a resident or citizen. It is possible to use the same corporation you used to buy property to go into business, but most lawyers recommend setting up a separate one for the business to avoid risks to either. Tax incentives and€“ The new Bay Island'€™s Free Tourist Zone law will provide an array of incentives to tourism related businesses such as hotels, restaurants, vehicle rentals, and souvenir stores. Read more in the Roatan Relocation Guide

Roatan Needs You!

With an estimated population of 65,000 people on Roatan, there is great opportunity to do business here. Picture your neighborhood where you currently live and take a few guesses as to how many people actually live around you, THEN look at the businesses, restaurants and stores around supporting that customer base. Here is some motivating items to ponder.

   

• Roatan is growing, we had about 30,000 people in 2002!.
  
• Shopping malls, offices and new restaurants are in development
  
• Roatan technology is advanced (broadband Internet, satellite TV, cellphones, computer/networking services)
  
• People travel on the island by car, scooter, boat, and bike.
  
• Most stores, bars, food establishments within walking distance from home.
  
• We need service techs, contractors, white collar, blue collar workers, educators and so much more.
  
• Roatan is becoming a free port. Tax only on goods sold!
  
• Roatan has cruise boats docking in Coxen Hole every week (2,900 passengers)
  
• Flights in and out of Roatan from Thursday through Sunday
  
• 2 hours from USA
  
• 2 major hotel franchises have purchased land here
  
• Golf course in development
  
• 2nd largest barrier reef in the world, with unlimited snorkeling, diving and water activities
  
• Most beautiful beaches in the Caribbean and World
  
• 85 - 95 degree warm weather year round
  
• Outside the hurricane zone, last one was Mitch 9 years ago, caught the backside of us.
  
• Island PARADISE