You don't have to denounce your US citizenship to live here. After five years you can even become a Belize citizen and still not denounce your US one.
Beware - getting a permit is a slow process. It took me a year to get mine and I had already lived here a year.
Bring a bycycle - with the roads the way they are it is a better ride.
Damn, a year?! That sucks. What if you buy a vehicle that is already registered? or is the permit more for the driver, not the vehicle?
AC