Can Foreigners Buy Property in Belize?

Can foreigners buy property in Belize?

That is a very popular question. The short answer is YES!

The majority of our sales this year are foreigner to foreigner. Very few are Belizean own land. For the last few years, most of our buyers are from the USA or Canada.

The American dollar has hurt our transactions with Canadians. The cost of Belize land is priced in USD and since the conversion from USD to CAD is inflated by 30%, purchasing land for Canadians has become too expensive - 25% more expensive.

Among the many attractions of Belize, none is more important to prospective retirees and expatriates than the relatively low cost of property and housing. You can spend a lot of money on North American-style luxury developments, but you can also buy raw land at prices not seen in the U.S. since the 1960s and 1970’s.

Here are a few of the many benefits for buying property in Belize:

• No Capital Gains Tax. So, if you purchase land, then sell it later at a good profit, you pay no Capital Gains tax in Belize – all profits remain with you. (See your accountant for applicable taxes in the country you reside with.)
• All contracts are written in English
• Very Low Property Tax
• Undervalued Property Values compared to Other Caribbean Countries
• Full Title Ownership

We write about our experience in hopes of educating and preparing you for when you finally arrive in beautiful Belize. Here is where the excitement of searching for your dream house, vacation home or investment property is like no other.

When you begin a home search, pick an agent who you trust and will show you all properties that best fit your needs, wants and desires. Ask locals about the agent you want, and search on social media for reviews or comments.

Be aware, Belize does not participate in a Multiple Listing Service. Instead we cooperate with all brokerages, so that we can provide a full service package. Like anywhere in the world, local Belize real estate scams do exist. Be wary of fast-talking real estate brokers, attorneys or anyone making a high-pressure sales pitch. Do not be afraid to walk away or take your own deliberate time on any real estate transaction.

At Re/Max 1st Choice Belize, our agents practice real estate in all areas of Belize. We will search all companies’ listings and present the best matches to your criteria.

We are a full-service real estate company helping our clients navigate the buying, building, and selling processes. We also help with privacy protection, property management, and more.

Re/Max 1st Choice Belize and Caribbean Capital Group are here to build relationships and if we do a good job for you then you will tell others about it. We LOVE referrals.

Until next time, be safe and well!