Top 5 Reasons to Invest in Belize Real Estate
Belize real estate is becoming more and more of a hot topic for Americans, Canadians & Europeans as more learn about the tremendous benefits of owning real estate in Belize. Whether it be for investment or lifestyle purposes, Belize stands out amongst other countries in the Central America region for several reasons. These are the cornerstones of relocation to the country and are as follows:
- English Speaking: When you consider that 90% of the U.S only speaks English, this is a huge benefit of Belize. People love the fact that when they go their doctor in Belize they can communicate in their native tongue or when they go to fill out legal documents the can read them in English.
- British Common Law: Belize is the only English speaking country in the region, this is a direct result of British influence over the years. The British also left something else extremely beneficial behind, their legal system. Other countries in the region (Mexico, Guatemala, Costa Rica etc…) adopted the Spanish legal system, Napoleonic Civil Law. When it comes to real estate there is a key difference between the two. That is, with British common law there is full foreign ownership. When Americans, Canadians or any foreigners for that matter invest in property they receive a fee simple title along with their property and truly own it. When you invest in a property somewhere with the Napoleonic Civil law there is two-tier ownership rights where local residents can own but foreigners have to do so through a corporation with local directors or other grey area strategies.
- Proximity to the U.S: Belize is 750 Miles from the nearest point in the U.S. and has direct flights from L.A, Miami, Fort Lauderdale, Denver, Dallas, Houston, Atlanta, Newark, Toronto, Chicago & more locations being added. The flight from Miami is roughly an hour and a half making it very easy for Americans and Canadians to get down in a very short period of time. Fun Fact: Belize is within 5 hours of 82% of the U.S!
- 46% of Belize dedicated to National Park & Marine Reserve: One of the things about Belize that most don’t know is that the official name of the territory was changed from British Honduras to Belize in June 1973, and full independence was granted on 21 September 1981. Given that Belize as a nation is relatively young, it has had the opportunity to model policies and characteristics from other countries that it feels are beneficial to the country. One the biggest things Belize has done with this regard has dedicated 46% of its land to a national park and marine reserve, one of the largest portions of a country in the world to be a national park. Not only is this beneficial from an Ecosystem perceptive, it’s also highly valuable from a real estate investment perspective. When you put a 46% restraint on development you increase scarcity which as well knows, leads to appreciation.
- Property Tax: In Belize, there are no capital gains tax and property taxes are extremely low compared to what many are used to in the U.S. and Canada. For example, property taxes on a 75’ by 75’ piece of land would be roughly $75 per year paid annually once per year in April.
If you have any questions about Belize or its real estate opportunities feel free to shoot me an email and I’m happy to chat!