Investing in Belize

There are nearly endless opportunities in the Belize real estate market. Unlike other Caribbean countries, foreign investors are granted the same laws and rights as citizens of Belize. When you buy a Belize property you own it outright.

When you own a property in Belize you own it freehold, which means that with the title, the property owner can possess, reside, or rent the property as they desire. Belize stands in contrast to other countries in the region that use a two-tier ownership system or Napoleonic civil law, where foreigners have different ownership laws than locals.

Belize is one of very few tax “safe havens,” even offering qualified retired individuals tax-free living. Belize has no capital gains taxes, and property taxes are extremely low, ranging from 1% to 1.5%. Closing costs on a real estate transaction are typically around 12.5%, and transfer taxes are generally 10%. As a Belize citizen, half of the taxes associated with the transaction can be waived.

Foreign investment into tax safe havens has long been considered a smart tax strategy, helping individuals protect their assets and reduce the amount of tax paid. Investing in Belize real estate is a viable option for long-term tax planning.

The Qualified Retired Persons Incentive Act came into effect in 1999 and has offered qualified retired persons an attractive opportunity to relocate to Belize. Belize is a strong retirement destination, with affordable real estate, tropical scenery, and international accessibility.

Benefits of retiring in Belize include official residency and transport of personal assets, including vehicles. Retired individuals covered under this act are not required to pay income taxes on their investments or other sources of income outside of the country.

Belize has numerous commercial banking institutions and international banks, plus smaller banks and local credit unions. Belize financial institutions service local residents and non-residents.

The number of foreign banks and institutions in Belize is continuously growing, and they are protected under the Offshore Banking Act of 1996 as well as global regulatory bodies. Many of the international banks offer security, privacy, and asset protection for international citizens.

Belize is one of Central America’s most beautiful and unique countries, providing the best of the Caribbean — political stability, low crime, and tropical beaches. Ambergris Caye is the jewel of Belize, drawing in over 70% of the country’s tourists.

Most of the island is dedicated national park and marine reserve, so there are strict regulations on land use and limited space for development. Ambergris Caye has frequently been named a top island destination in the world, and it is quickly becoming one of the most desirable places for retirement, investment, and vacation.

Belize — and especially Ambergris Caye — has been growing in popularity. Now is an ideal time for those looking to invest in Belizean real estate. On Ambergris Caye there is a multitude of properties and vacant land lots ready to be developed, with enough diversity to meet a range of budgets and financing options.

Whether you are looking for a vacation property, land investment, beachfront condo, or commercial property, contact the Belize real estate professionals at RE/MAX Belize Secret Beach.