Belize has become an increasingly popular place to live and invest in real estate. This Central American country offers a laidback lifestyle and beautiful scenery.
Foreign investors are welcome in Belize, where non-nationals enjoy the same rights as nationals. There are no restrictions on land ownership and property taxes won’t break the bank.
1. It’s Cheaper Than You Think
Belize real estate for sale is a lot cheaper than what you would expect. It’s a very popular location for investors, and it’s quickly becoming a retirement destination.
If you’re looking for a nice place to retire and escape the cold winters in Canada, Belize is a perfect option. The country is English-speaking, so you won’t have any issues communicating with locals. Plus, property taxes are much lower than those in Canada and the United States.
If you’re interested in buying property in Belize, make sure to hire a recommended attorney or professional who can arrange for a title search at the government land registry. This will ensure that you’re purchasing a property with good, clear titles free of any liens or judgments. A search should cost you no more than US $250. A survey is also important, and your attorney may recommend that you get one before making a purchase. This will help you determine the size of the property, its boundaries, and whether it has any restrictions on it.
2. It’s a Tax Haven
Belize has developed a reputation as a tax haven for foreign investors due to its favorable regimen on taxes for citizens and residents. Its territorial system allows a foreign resident to only pay personal income tax on income generated inside of Belize, and it does not levy capital gains or inheritance taxes.
Belize also offers complete confidentiality for international companies incorporated within the country, with government standards of disclosure limited to documentation associated with criminal investigations. In addition, foreign individuals with significant assets in Belize may receive substantial tax benefits by establishing an offshore trust.
Whether you’re looking for a prestigious North American-style luxury development in south San Pedro or raw land that offers you the best of the island’s tropical lifestyle, REMAX Island Real Estate has a wide range of Belize property for sale to meet your needs. Contact us today to discuss your options! We look forward to helping you find the home of your dreams in Belize!
3. It’s a Retirement Destination
As its popularity grows, more and more Americans and Europeans are considering Belize property for sale as a retirement destination. Compared to the price of property in other popular retirement countries, such as Costa Rica and Mexico, Belize real estate is quite cheap for the size of homes and condos available.
Many snowbirds rent a home during the winter months and come to Belize full time during the warm summer months. In addition, the Qualified Retired Person program makes it easy for U.S. citizens to get residency in Belize and stay on their Social Security benefits.
It is important for anyone thinking of purchasing property in Belize to enlist the help of a certified Belize real estate agent or lawyer. While crooked attorneys and real estate brokers do exist in Belize, with some research you should be able to find recommended professionals. Also remember that market liquidity in Belize is low compared to most popular tourist and expat areas, so splashing out on the most expensive property could leave you in a bad position if you ever need to sell.
4. It’s a Diverse Country
Belize is a country of many different cultures and ethnic groups. The majority of the population are Creoles with a strong sense of pride in their culture and history. Creoles are generally very hospitable and welcoming towards visitors and immigrants to Belize.
The Garifuna are a very large cultural group in Belize with a unique mix of heritage from West African, Central African and Island Carib. The Garifuna people make up six percent of the Belizean population and they have merged their cultures with the native Belizean people.
The Mennonites are another large cultural group in Belize that have a strong work ethic and are known for raising chickens, cattle and pigs. They live in secluded communities and they do not integrate with the rest of the Belizean people very well. Despite their lack of integration they have a large influence on the agriculture in Belize and they also provide a lot of food for Belize.