Belize is a booming market for real estate in the Caribbean. Its prices have been trending up for years, and properties close to the water or tourist centers are great investments.
Buying property in Belize is easy, but you’ll need to do your homework. It’s important to get an ESTABLISHED broker and a good local attorney.
Tax ‘Safe Haven’
Belize is an excellent choice for North Americans who want to enjoy a higher level of privacy and live somewhere safe where English is spoken. It’s also an attractive destination for retirees and investors.
Buying Belize Real Estate is a great way to secure your wealth. Property taxes are far lower than elsewhere in the world, and there’s no capital gains tax.
If you’re looking for a vacation home, a condo in a resort or a piece of land to build a custom house, Belize has it all. Prices are reasonable and real estate is becoming more popular.
Belize is an offshore tax haven that offers many benefits to corporations and individuals. Its International Business Companies Act allows companies to incorporate in a matter of minutes, reducing their tax liabilities. Its financial services sector also benefits from the country’s low regulatory costs and its OECD-compliant tax structure.
No Capital Gains Tax
If you are considering investing in Belize real estate, one of the biggest incentives is that there are no capital gains or inheritance taxes. In addition, property taxes are incredibly low–just a fraction of what you’d pay in Canada or the USA.
Another great incentive is the fact that property values in Belize have been steadily rising for several decades, ensuring that you can make very healthy profits over time.
Investing in Belize real estate is also very attractive from a retiree’s standpoint as well, as the country boasts one of the region’s most liberal retirement programs. Under the Qualified Retired Person’s (QRP) program, retirees can enjoy special residency status and import their possessions duty free.
Undisputed Ownership of Land
Belize is a perfect place to buy land as it is the only country in the world where foreigners have equal property ownership rights. This is something that is extremely rare in other jurisdictions and especially in developing countries where people are often not allowed to own property at all.
When buying a piece of land in Belize you are assured that you will have clear title through a Land Certificate. This is very important as it will help to ensure that your property is secure and is not subject to any problems in the future.
In addition to this, property taxes are very low in Belize and if you live in the countryside you only pay a minimal amount based on the value of your land. This is another great incentive for those looking to purchase land in Belize as you will be able to keep more of your money than you would if you lived in the city or major tourist areas where you may have to pay high property taxes.
Trusts
Trusts are legal structures where assets are held in trust for the benefit of a number of people. They are managed by a trustee and a trust protector, depending on the type of trust in place.
The Belize Trusts law provides substantial protection for those who transfer their assets to a trust in the country. Unlike many common law jurisdictions, there is no minimum period of time before creditors can bring a fraudulent conveyance claim against a settlor, or request a Mareva Injunction freezing the trust’s assets.
Moreover, Belize’s asset protection statutes are second to none. For example, the country’s banks are required to reveal that their clients are foreign nationals if they receive official inquiries from the country’s Financial Intelligence Unit. This helps keep those conducting honest business from falling victim to bribes and other illegal activities.
