Belize Buyer's Guide
Belize Buyer's Guide
Buying Real Estate In Belize
We’re thrilled to share our complimentary “Buyer’s Guide,” which provides an overview on reasons why Belize makes such a compelling investment opportunity. We hope to stimulate your interest for owning land in the most extraordinary tropical paradise of Belize.
A number of reasons argue in favor of purchasing land in this Caribbean gem of a country. To help guide your decision, Belize Realty & Relocation Services offers the following reasons why now is the time to buy in Belize:
Belize is equal parts tranquil escape and adventurer’s wonderland. With one foot planted in the Central American jungles and the other dipped in the Caribbean Sea, Belize blends the best of both worlds. Spectacular natural attractions abound, from the second largest barrier reef in the world, to ancient Mayan ruins, to pristine beaches and untouched jungle reserves. Belize is truly one of the last unspoiled places on earth.
Belize, the only English-speaking country in Central America, offers a unique combination of richly rewarding experiences that make it unlike any destination on the planet.
- Swim with exotic sea life along the Western Hemisphere’s largest barrier reef.
- Explore the fascinating mysteries of the largest concentration of Maya sites, artifacts and ruins.
- Hike thousands of acres of unspoiled forest, including one of the only Jaguar preserves in the world.
- Escape to any of the more than 400 tropical islands and several of the Western Hemisphere’s coral atolls, surrounded by pristine turquoise waters.
- Discover the highest waterfall and the most extensive cave systems in Central America.
- Dive the captivating Blue Hole amongst seven other World Heritage sites.
- Bird watching, river kayaking and cave-tubing abound.
Other Advantages
Besides the combined benefits of increased tourism and a growing number of American retirees, we’re convinced that investors will find immense advantages in Belize that don’t exist in other Central American countries. To name a few:
- Proximity to US: Belize has close proximity to North American airport and seaport hubs, being only a two-hour flight from Miami or Houston.
- English: The national language of Belize is English, making assimilation easier for American expatriates.
- Fee-simple Title: Belize offers fee-simple title for real estate, making ownership of land as easy for Americans as it is for citizens of Belize.
- Currency: Since 1976, the Belize dollar has been fixed to the U.S. dollar at the rate of 2 to 1, making for a stable, low-inflation environment.
- Banking: Belize is a well-established trust jurisdiction, with a sophisticated banking system designed for asset protection and confidentiality.
- Eco-friendly: Incredibly diverse ecosystem makes Belize perfect for nature lovers who appreciate pristine, Garden-of-Eden beauty.
- Business Friendly: The government of Belize is wholly committed to supporting the country’s fiscal development, offering incredible incentives for investors.
- Norwegian Cruise Lines: Norwegian Cruise Lines has invested more than $50 million to purchase two islands in Southern Belize. The major cruise lines will develop a world class cruise destination that promises to boost land values in Southern Belize for decades to come.
- Eco-Tourism: Belize is a major ecotourism destination. As the world becomes more polluted, individuals from around the globe are discovering the pristine beauty of Belize’s commitment to sustainability. Belize’s government has made a commitment to authorize development on no more than 50% of the land. Accordingly, investors and retirees sense an urgency to purchase their land now, even though they may not want to build on their land for years to come.
With all of these advantages, incredible investment opportunities exist for those who have the foresight to act. In fact, we’ve represented investors who’ve purchased land in safe, oceanfront communities at pre-construction levels.
Buying with Belize Realty & Relocation Services
Belize Realty & Relocation Services holds the utmost dedication to our clients and guarantees professional representation. We aid to search, recommend, and facilitate the negotiation process to purchase at the right price. Our Team is well associated with the leading professionals of their individual industry: Surveyors, architects, attorneys, contractors, lenders, etc. Our aim is to provide our clients with proper representation in acquiring a piece of this paradise.
The buying process in Belize is similar to that in the UK and US. Once an offer has been formally accepted, a deposit is paid into an escrow account which will include a binding Sales Agreement outlining the details of the accepted offer, payment schedule, and any other relevant terms and conditions of the transaction.
A period of 30 to 90 days is allowed for each party to conduct any relevant searches, due diligence, preparation of legal transfer documents, fund allocation, etc. before concluding the sale. Once the final payment has been made, the transfer of ownership documents will be executed for legal processing, and thereafter the escrow account will be released for the seller’s access.
Laws & Transactions
Belize has a fixed exchange rate of $1US=$2BZ. Compliance with the Exchange Control Regulations ensures that foreign currency inflows are pooled and made available to meet the needs of the general public.
The Exchange Control Regulations stipulates that Central Bank’s permission may be required where a non-resident is involved in a transaction relating to the transfer by way of sale, exchange, gift, or mortgage of any land, buildings, or other hereditaments situated in Belize. Belize Realty & Relocation Services will assist with all aspects of the permission process if applicable.
Authorized Dealers are appointed by the Central Bank to assist in conducting foreign currency transactions. The following domestic banks are authorized Dealers:
- Atlantic Bank Limited.
- Heritage Bank Limited.
- National Bank of Belize Limited.
- The Belize Bank Limited.
The Exchange Control Regulation Act ensures the legality of all land transactions in Belize.
Non-Belizeans are free to own property in Belize and pay similar taxes as Belizeans. Costs in acquiring property include:
- Standard legal fees for processing searches and transfer documents. This ranges between 1% to 2% with a professional attorney.
- Escrow Fee, normally 0.5% of the purchase price.
- Stamp Duty Tax payable to the Government of Belize upon transfer of ownership. This is an 8% tax of the assessed value less the first BZ$20,000.00.
- Registration and Certificate fees also payable to the Government of Belize are BZ$15.00 each.
Qualified Retirement Program (QRP)
General incentives for Belize’s Award-winning Qualified Retirement Program include no taxation on income forwarded to your financial institution located in Belize. Additionally, qualified retirees are exempted from import duty for personal effects including but not limited to; furniture, car, boat, etc.
Applicant must be of the age of 45 years. They may include dependents (wife and children under 18 years of age unless a student)
Income from an outside source. This may include pension, property investment returns, etc. at a minimum of $2,000.00 US Currency forwarded monthly to a financial institution within Belize.
Background check. All applicants are subject to a background check carried out by the Ministry of National Security.
Living in Belize
Calling Belize your home, weekend retreat, or investment is surprisingly less expensive than in larger developed countries. With a budget of around $2,000 monthly, one can live comfortably within the Caribbean jewel of Belize.
Imported goods and fuel tend to be high priced due to importation taxes however construction, services, and local products are priced substantially lower.
The cost per square foot ranges on location, accessibility to materials, resources, and workforce. Building costs on the islands tend to be 40% more than mainland costs due to transportation of materials and the supply of workforce.
Belize won’t be the Caribbean’s best-kept secret much longer. The promise of relaxation, rewarding authenticity, adventure, and natural heritage await you.
The ocean water is clean, warm, and clear, the trade winds gentle and cooling. There are few places on earth more calming to the spirit. This unsurpassed tropical have calls out to its next generation of visitors and residents…welcome!