Why Buy Real Estate in Belize
People explore buying real estate in Belize for a variety of reasons.
The two most common inquiries we receive at our office are:
1) from retirees moving to Belize who are looking for a home surrounded by tropical land; and
2) investors looking to cash in on inexpensive land and properties in the country – some of whom live in Belize and some of whom do not.
Whether one of the reasons above is yours or you have other ideas (looking for a prime spot for a monkey sanctuary? We can help!), real estate here is cheap, plentiful, and easily acquired by non-citizens. Belize is one of the few countries in the world where foreigners enjoy the same rights as citizens with regards to property ownership in land ownership and tenure. All land purchases are subject to a Government Stamp Transfer Tax, which currently is a little under 5% of the purchase price.
If you are interested in buying a home or real estate in Belize as an investment opportunity, an important incentive in this case is the absence of any capital gains tax in Belize. This, of course, means if you buy property in Belize and then sell it later for a profit, your profits will not be taxed. Also a good thing to keep in mind if you buy a home in Belize as a retiree and then for some mind-boggling reason you change your mind about retirement in Belize.
The first step in your decision-making process is a frank discussion about your goals and objectives. Please contact our Belize real estate attorneys today to start the process.