Why Invest in Belize Real Estate
The decision to invest in Belize Real Estate may well be one of the easiest and smartest decisions you make. It is fast becoming one of the most popular destinations in the Caribbean. Belize is a great place to vacation. Many who work in global markets find Belize an ideal place to call home. Being a part of the British Commonwealth brings added benefits that make doing business in Belize an effortless. Belize is primarily English speaking. It enjoys a peaceful and conflict-free political environment. Belize’s democratic climate opens the door to business opportunities. These opportunities go beyond the more visible markets of real estate and tourism.
Purchasing Property in Belize
The greatest benefit of investing in Belize is that foreign buyers are granted the same rights as a Belize citizen. When you purchase a property in Belize, you own it outright: a ‘freehold’ as opposed to a ‘leasehold’. This is not the case with many neighboring Central American countries. A Freehold, or Fee Simple title allows the Belize property owner to possess, live in, lease out, or bequeath the land as they wish in perpetuity.
Taxation and Property Taxes in Belize
Belize is one of very few countries in the world that are a tax ‘safe haven’, even offering tax free living to qualified retirees from any country in the world. There are no capital gains taxes and property taxes range between 1% – 1.5%. Closing costs are typically around 1% and transfer taxes are usually around 8%, but if you are Belize citizen, a portion of that can be waived. Long considered a smart strategy for asset protection and tax reduction, investing in Belize Real Estate is a viable solution to long-term tax and portfolio planning goals.
The Qualified Retired Persons Incentive Act, came into effect in 1999. The Qualified Retirement Program offers retired individuals from all over the world an attractive opportunity to relocate to Belize. Some of the benefits include official residency and transport of the person’s personal effects, including vehicles. Those covered under this act are not required to pay income taxes on any investments or work interests outside of the country.
Belize offers several commercial banks, smaller banks and credit unions that offer a full range of financial services to serve residents and non-residents alike. There are also a growing number of offshore institutions that are protected under the Offshore Banking Act of 1996 as well as by other global regulatory bodies. Though these banks are prohibited from doing business with Belize citizens, they do offer security, privacy and asset protection for citizens of the rest of the world.
Ambergris Caye Belize
Belize is a beautiful and unique Central American country, offering the best of what the Caribbean has to offer without the burdens of political unrest, crime or ecological threat. As unique as Belize is to Central America, Ambergris Caye is unique within Belize. Within the destination of Belize as a whole, over 70% of its visitors choose Ambergris Caye Belize as their final destination.
Most of the island is dedicated National Park and marine reserve, with stringent regulations on land use and development. As a result, the pristine beauty of Ambergris Caye Belize will always be preserved like a rare and precious jewel. Ambergris Caye has been named the top island in the world several years in a row by Trip Advisor. Belize is fast becoming the number one vacation spot in all of Central America. Whether you choose to vacation, live, invest in or retire to, Ambergris Caye is fast becoming one of the world’s most desirable destinations.
Belize Real Estate Opportunity
The popularity and desirability of Ambergris Caye combine to create the perfect opportunity for those looking to invest in Belize Real Estate. There are a multitude of Belize properties and land ready to develop, and enough diversity to be able to meet your objectives at every investment level. A dream vacation home, income property, beachfront condos, multi-unit residential, property to build on or commercial investment – all are waiting for you in beautiful Ambergris Caye!