Real Estate Investing In Belize: Tax Incentives For Foreign Investors
Did you know that Belize does not have capital gains tax or estate tax? Conveniently situated close to the United States, Belize is the perfect tax safe haven for many foreign investors. Through stability, livability, and profitability Belize offers a multitude of incentives. Especially for those interested in Real Estate investing opportunities.
Under the Belize Fiscal Incentives Act of 1990, companies can seek approval from the Belize government to receive a “tax holiday” of up to 15 years. For some individuals, income tax may also be exempt under the act. In addition, foreign investors who are registered with the Central Bank of Belize can also repatriate up to 100 percent of their profits and investment.
Belize wants to encourage foreign investors to work with both the Belize government and residents. So additional incentives are provided for companies seeking joint ventures with local entities. Foreign investors can rest easy knowing that they will own 100 percent of the land they purchase in Belize. Additional incentives for foreign investors include:
- The Retired Persons (Incentives) Act, which offers beneficial tax incentives and exemptions and incentives to qualified retirees;
- The International Business Company (Amendment) Act, which allows foreign investors to create or establish limited life companies; and
- The Trust Act of 1992, which can benefit valid charitable and non-charitable entities.
How To Invest In Real Estate In Belize As A Foreign Investor
As a foreign investor, you have the opportunity to buy a plot of land or a commercial investment property that is already built. A few additional tax incentives to keep in mind under the Income Tax Act include the ability to apply for duty exemption. These exemptions can be granted by an Approved Enterprise Order. It will allow qualified companies to import items into Belize free of both import and revenue replacement duty. Items that companies can import under the act include building materials, machinery, equipment, transport vehicle, office equipment and appliances, raw materials, and agricultural machinery. It is important to note that the duty exemption can last up to 15 years and has a possible potential extension period of 10 years.
Owning An Investment Property In Belize
You may want to buy an investment property that is already built, or you want to build from the ground-up. Belize is a beautiful island that offers a number of advantages to foreign investors. The perfect investment opportunity is made easier when you contact our team real estate experts.
The entire RE/MAX Island Real Estate team has a proven history of helping foreign investors buy, sell, and invest in both commercial and residential properties throughout Belize. Discover a better way to achieve real estate investment opportunities today.