Guide for the acquisition of real estate in Belize – Offshore
What do you know about Belize?
If you are like most people, surely, you know that Belize is a beautiful destination that is located in the heart of Central America. You may know that Belize is a stable jurisdiction with a low cost of living and a pleasant climate. Perhaps, it has already been informed about the possibilities of making international investments, or about the growth of tourism and the holiday rental market in this country.
Regardless of what you have heard about Belize, you may be motivated to want to invest in the country. The acquisition of real estate in Belize is a popular option because it offers many economic advantages. Near the beach, property prices are much lower than in similar destinations in North America. Inland, the prices are even lower.
This guide will help you learn more about the Belize real estate market.
Buy a property through the appropriate means
First things first: Belize offers real estate at truly incredible prices. It is possible that the prices are much lower than what you are used to seeing. That said, any property that seems too good to be real, it certainly is. For this reason, it is better to carry out real estate transactions through a lawyer or a duly authorized representative.
Fortunately, conducting a search for property titles in Belize is simple and inexpensive, and can be carried out through the Government Real Estate Property Registry. The cost of it usually does not exceed USD 250. Thanks to this search you will know who is the real original owner of the property, and you can buy with peace of mind, knowing that the purchased property will belong only to you.
There are no restrictions for foreigners wishing to acquire real estate in Belize
In some countries, foreigners must overcome many obstacles before acquiring real estate. In fact, in some nations, it is impossible for a foreigner to buy a property absolutely free of limitations, and in these cases the transactions must be carried out with the help of a third party.
In Belize, that is far from true. Foreigners can buy a property easily and there are no discriminatory laws against international buyers. Also, there are many sellers and real estate agents who are willing to advise buyers and provide them with peace of mind at every stage of the purchase process.
Take advantage of low property taxes
If you are thinking about acquiring real estate in Belize, it is possible that the cost is one of the main reasons. After all, both the price of a property and the costs of living in Belize are very reasonable. In some countries, however, taxes can become a significant expense.
Fortunately, that does not happen in Belize, where property taxes are incredibly low even for large houses or properties that are on the seafront. You are likely to spend a total of USD 200 on taxes for a large house, with four rooms. This is an estimate of a minimum of USD 10 or USD 20 per month for average owners.