Owning property in Belize
It’s very easy for non-citizens to buy property in Belize as there are no restrictions on foreigners owning property here. Indeed, Belize is one of the easiest countries in Central America for foreigners to purchase real estate.
Take taxes, for instance. There are no capital gains taxes in Belize and property taxes, payable annually on April 1, are very low.
A transfer tax, known as Stamp Duty, is paid by the Buyer upon closing. This Stamp Tax is only 5% of the property’s value, with the first $10, 000 being exempt (e.g. if the purchase price is $100, 000, the Buyer would pay tax on $90, 000).
Also, a fixed exchange rate of 1 USD to 2 BZD provides the advantage of money market stability without the impact of fluctuating foreign exchange rates.
Plus (and this is a real plus), land title is based on the same system as in the U.S., Canada and the U.K., giving you fee simple title to your land.
Belize’s liberal retirement program, the Qualified Retired Persons Incentive Program, is touted as being one of the best in the world. Overseen by the Belize Tourism Board (versus the Immigration Department), foreigners aged 45 and over can gain special residence status. Several basic requirements have to be met including proof of income.
Since there are no licensing requirements for realtors in Belize, choosing a realtor such as RE/MAX, with a reputation and experience in international real estate is a smart choice. RE/MAX Property Center is a member of the Association of Real Estate Brokers of Belize (AREBB) and a member of the Belize Tourism Industry Association.
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