Belize Real Estate is one of the top emerging markets in the Caribbean & Central America region. Owning property in Belize is a great way to secure your future and invest in a country that is growing rapidly.
In Belize, foreigners enjoy the same rights as nationals when it comes to purchasing property. This is unlike many neighboring countries where non-nationals are relegated to leasehold ownership or must jump through extra hoops.
Affordability
The affordability of Belize real estate is one of the main reasons many people are flocking to this beautiful Central American country. And it’s not hard to see why – with prices significantly lower than those of the Cayman Islands, Panama, Costa Rica and many other Caribbean and Central American countries, buying property here can be a fantastic investment.
The process of buying a home or land in Belize is very similar to what you might be used to back home, with similar laws and contracts in place. The legal system is based on common law and English is the official language, making it easy for North Americans to navigate the purchasing process.
Moreover, the Belize Dollar is pegged to the US Dollar at a fixed 2:1 ratio. This means that you won’t see any currency fluctuations impact your property value. Having a stable currency is an important aspect to consider when considering a foreign real estate purchase, especially since it’s so important to ensure that your property values retain their value over time.
The Land Is A Good Deal
Belize is a growing destination for North American investors and retirees because of its pristine beaches, jungles filled with wildlife, and low tax rates. But for American real estate buyers, buying land in Belize can be a challenge.
Many countries have requirements that must be met before you can purchase land, such as requiring permanent residency or citizenship. In Belize, you don’t need to have any of those things.
Buying land in Belize is also far less complicated than in other countries. Most transactions are handled through a Closing Company, which can handle all the necessary due diligence and title search and transfer of property to you.
When you buy land in Belize, it’s important to know how the land is zoned. Some will be for commercial use, some are primarily residential, and others may be set aside as conservation land or protected natural areas.
No Capital Gains Tax
Belize is a good place to buy real estate because it offers many benefits that make it a tax haven. One of the most important benefits is that there are no capital gains taxes on residential and commercial property in Belize.
Belize also offers a wide variety of legal services for both foreign and local investors. This includes the drafting of contracts, purchase and sale agreements, and mortgages.
However, you should do your research before buying property. It is recommended that you conduct a title search at the Government Land Registry and to ensure that the real estate you are purchasing is free and clear of any liens, judgments, or encumbrances.
While Belize is a stable and peaceful country with a friendly, open political environment, it does have some challenges. These include a small population, high import duties, and bureaucratic delays.
Low Property Taxes
As a tax haven, Belize is a paradise for property investors and retirees alike. The country’s low property taxes and qualified permanent residency laws make it a popular place for ex-pats to settle.
The good news is that you can easily find a Belize property for sale without paying the high prices that are common in North American real estate. You can also find a nice, simple rental house for less than US$200 a month in most locations.
Another reason why property in Belize is so attractive is that the country’s government has eliminated all taxes on income sources such as profits, dividends, and capital gains. This means that you can buy land in Belize and sell it later at a healthy profit without paying any Capital Gains Tax.
If you’re thinking about investing in Belize real estate, be sure to hire a good attorney and real estate agent to help you navigate the legalities of purchasing a property. There are a few crooked attorneys and brokers in the country, so you should be sure to get references from friends and colleagues before making any purchases.
