If you’re looking for a place to invest or own property in the Caribbean, Belize has some of the best real estate options. It’s a tax sale haven’, has low property taxes and offers a unique asset protection option.
Buying in Belize is similar to buying anywhere else in the world, though you may want to work with a professional who knows the local market and has the experience to find you the right property.
Tax’safe havens’
Those who have substantial wealth and wish to keep it safe often turn to tax’safe havens. These are countries that offer low or zero-income tax rates for foreign investors, typically without any requirements to reside there.
Belize has a reputation for being a solid offshore tax haven, especially for companies and individuals. The International Business Company Act allows IBCs to pay no tax on income sourced from other countries, while individuals who earn their income outside of Belize may also be able to enjoy significant tax savings.
The Trusts Act in Belize has a number of beneficial features. Individuals and corporations can establish trusts that provide comprehensive exemptions from both personal and corporate taxes.
Incorporating an offshore corporation in Belize is legal and very easy. In addition, the International Business Companies Act of 1990 does not require Belize-based companies to share information with international taxing authorities, making this country a good choice for those looking for a place to reduce their tax liabilities.
Investing in Belize Real Estate
If you are looking for a safe haven to invest in, Belize is an ideal choice. It is a British Commonwealth realm, has a stable economy, and it is primarily English-speaking.
The Belize real estate market has seen consistent growth over the past decade, especially on Ambergris Caye. This is a popular tourist destination and has strong vacation rental markets.
Another important benefit for investors is that Belize does not levy capital gains tax. So if you buy land and it appreciates in value, you do not pay tax on any profits that are earned later.
Belize’s legal system is based on English Common Law, making it a familiar environment to many American and British investors. The country also uses strata principles for property ownership, which are similar to those in most first world jurisdictions.
Buying a Home in Belize
Whether you are looking for a vacation home or a retirement retreat, Belize offers the perfect place to find your ideal Caribbean paradise. Its tropical location, beautiful beaches and ancient Maya cities make it one of the most popular destinations for Americans and other foreigners wishing to relocate to Central America.
Belize is one of the few countries in the world where non-nationals have the same rights as nationals when it comes to land ownership and tenure. Its history as a British colony has left its real estate laws relatively unchanged, making it one of the most amenable nations for foreigners to purchase property in.
One of the best parts about purchasing a home in Belize is that there are no capital gains taxes. This means that if you buy a piece of land, develop it, and then sell it for a good profit, you keep all your profits.
Buying a Property in Belize
If you’ve made the decision to buy a property in Belize, you may be wondering what the process will look like. You can use an agent or search online for properties – just like you do anywhere else in the world.
Buying property in Belize is relatively easy compared to other countries, but there are still some hoops you must jump through. For example, before the sale can close, you have to pay a stamp tax, which is about 5 percent of the property’s value.
Another major draw to Belize is that there’s no capital gains tax. That means that you can make a profit on your purchase, and the profits will remain in the country.
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