Investment in real estate has always been popular. However, not every country is a good choice – but Belize is. You can have a place to live in a tropical paradise near palm-fringed beaches and use it for your vacation or rent it out. Buying property in Belize also gives you the right to get a residence permit in the country, which may be valuable to some of you. In short, Belize is worth investing in!
Any large project starts with collecting information, and that’s where we would like to invite you to our portal called International Wealth. You can read a more detailed article on the property costs in Belize there and find a lot of other useful information on international business and banking, investments, residence by investment programs, and much more.
We also have experienced specialists who will help you invest your money, choose real estate, open an account abroad, set up a foreign company, and much more. The first session is free, and we do not charge anything for analyzing your situation and choosing the best options based on our knowledge of the market: a jurisdiction to invest in, open a bank account or establish a company or trust, or a particular bank to deal with. Book a consultation today by clicking on the link – it will not cost you anything!
Buying Real Estate: Goals
Let’s see what goals investors usually set when they decide to buy real estate in Belize:
- Buying a property in one of the cities (located away from the coast) to live, carry out business meetings, or rent it out.
- Buying a house/villa on the coast where real estate costs more and the demand for it is on a constant increase. This is a great option for those who are seeking to have a reliable passive income as it will be easy to rent it out.
- Buy a plot of land in Belize and build the house you have been dreaming of all your life.
Decide which of these goals is yours as it will determine the amount you will need to invest and the paperwork you will be required to do. In any case, you will need a personal account in Belize – and our experts will help you set it up as the procedure may be a bit of a challenge for a non-resident.
Why Buy Real Estate in Belize?
Here are some reasons why Belize is a good destination for investment in real estate:
- Non-residents are permitted by law to be property owners in Belize, and they can own a land plot, a residential house, or a commercial building.
- You will not have any difficulty registering the property rights. You will have to use the local agent’s services, and this is a mandatory requirement (our experts will help you with that). What is more, you are not even required to be personally present in the country to buy the property and register the rights to it. All administrative procedures are done remotely, and you can manage your piece of real estate online as well.
- If you come from the USA or the UK, for instance, the cost of living in Belize will seem quite low.
- You will have to pay property taxes in Belize, but they are rather small.
- Belize is the only English-speaking country in Central and South America, so you will have no language barrier.
- Belize is not the most thriving state in the world. However, it has solved a lot of economic problems in recent years, and we can observe its steady development. As a result, the demand for its property is growing, and we recommend it to all those who want to have a passive income.
- Belize is a low-tax jurisdiction –in particular, there is no capital gains tax here. It means that you can resell your house at a higher price later on and keep the whole amount without sharing your profits with the state.
- You can obtain a residence permit in Belize. While the country does not offer a citizenship-by-investment program like other Caribbean states, you can invest about 248,000 US dollars (BZ$ 500,000) to get a one-year residence permit. If you remain the property owner, you will be able to extend the permit later on.
Sounds interesting? Contact our specialist to get more details. And if you want to acquire citizenship by investing in real estate in another country, we will propose the most suitable options to you.
Buying Real Estate in Belize: Cost
Let’s open classified ads. If you are on a tight budget, you can buy an apartment or a house in Belize at 15,000 US dollars. And if you can afford any price, you can opt for a fancy villa on the beach with all signs of extravagant luxury possible that has a pool and an enormous beautifully landscaped territory that will cost you 5,000,000 US dollars.
You will also have to incur additional costs:
- The legal agent’s services cost 2% of the property price.
- Stamp duty (from 5% to 8% of the property appraised value, depending on the country where you come from).
- A small registration fee (USD 15 for land certificates and USD 8.50 for property rights transfer).
- Processing of documents to close the deal costs from 1% to 2% of the real estate price.
- The transfer of money from the buyer’s bank account to the seller comes at a certain fee that depends on the bank.
- If you buy a Belize property without leaving your home, the documents will be delivered to you by courier at a price of around 100 US dollars.
- The property needs insurance coverage against hurricanes, floods, fires, and so on. Its cost will depend on the real estate price (the insurance premium has to be paid on each USD 1,000 of the cost) and the material it is made of (a concrete structure comes at a higher price than a wooden one).
- In most cases, you will need to make a 10% prepayment from a bank account in Belize or in the USA.
Conclusion
Please follow the above link to read about the costs of building a house in Belize and discover where you can buy real estate. Do not hesitate to book a session with our experts using a live chat or any other communication channel to find out more about the opportunity. Belize real estate may be exactly what you are looking for as an investor, so don’t miss a chance!
