Can Foreigners Own Property In Belize?
Few things are as exciting or desirable than owning your home in an idyllic exotic location like Belize While moving to Belize can initially seem daunting, you’ll soon realize that the purchase of a home in Belize can be as simple as buying in the US.
- It’s easy. Especially if you’re a citizen of another country as there are no purchase restriction and all real estate transactions are conducted in English. Moreover, since Belize’s government is modelled after the British Legal System, all paperwork follows this standard, so you’ll know exactly what you’re signing.
- It’s practical. Just like other countries, Belize residential property comes with the multiple tax breaks you’ll be entitled to once you buy. Plus, the currency exchange rate is easy to master as its $1 USD to $2 BZD. Down payments are affordable, and fees and taxes associated with your purchase are kept to a minimal, so financing is easy to obtain if needed.
- It’s beneficial. Just imagine trading your old life for one in Belize full of luxury. Belize has a Qualified Retired Persons Program that starts at age 45, and those who move here can take advantage of that. This is a unique set of financial benefits that require a few things you need to meet to take hold of this bounty. You can bring your most significant assets to Belize whether it be your cars, boats, or even home furnishings duty-free. There are always people here eager to help you settle in.
- It’s convenient. You can take you home buying from shopping to closing. A straightforward real estate attorney is all that’s needed to get you set up in your need home with a title search firm, shippers for your belongings, or anything required to get you settled in. Home Buyer tip: Its rather standard for a paralegal to be used rather than an attorney in Belize to assist in this process.
- It’s advantageous. You pay zero taxes on capital gains, inheritance, and any taxes on the income you earn as a result of opening a business or one you manage that you’ve left behind and the low-property taxes are fantastic.
As you can see, buying and owning property in Belize as a foreigner is not only possible but a popular choice. The convenience of getting titles and homeowners insurance with a US or Belize company is also possible. While it may sound too good to be true, your dreams of retirement in an exotic location are just a step away.