Residential real estate offers today in Belize by Remax: Vacation Rentals & Cash Flow: Belize is an emerging market that has not seen the overflow of hotel developments. There are also no rent controls or restrictions on vacation rentals, creating cash flow investment opportunities. There are a variety of real estate opportunities and investment properties in Belize. If you’re considering making a real estate investment or buying a property in the booming Caribbean market of Belize, the team at RE/MAX is here to help. Learn how you can own and invest in Belize real estate and find your perfect property in paradise! Discover even more info at Belize real estate.

Once all the legal processes and closing have been completed along with a title search and closing documents. The legal documents are signed by all parties and original copies are sent to the purchaser. With a financing agreement, the seller will carry the note on the property (similar to a bank in the US). If it is a cash sale agreement, all original documents will be sent to the purchaser (the new owner of the property). If the property is not in an IBC there is a one-time Stamp Duty Fee of 8% paid to the Government of Belize (GOB). Stamp/Transfer Tax is a tax of 8% on the total sale price and the Government of Belize gives you the first $10,000.00 USD exemption. GOB reserves the right to reassess the Stamp Tax and if they feel you paid too little for the Belize property, if this is the case the purchaser will require you to pay the difference.

In Belize, when you buy land that has a title, the original or certified copies of Belize land documents registered with the Lands Department are issued as proof of ownership. The land title will have either the owner’s name or a corporate entity (like Chapter 250 or IBC). In Belize, for a land transaction to take place proof of ownership is required. The Closing Company and Real Estate agent will request records for the land with the Department of Land and Survey. This office provides information on who the land title is registered to (the owners), whether it is held in a corporation or individual name, and checks if there are any restrictions on the use of the land. They will also ensure there are any liens or encumbrances on the property.

Once a Mayan fishing village, Belize City was the country’s capital until 1970 after Hurricane Hattie wreaked havoc. Today, it’s Belize’s largest city and commercial center; a busy port, which welcomes cruise ships; and the country’s main gateway. Ramshackle Victorian buildings jostle along the narrow streets in town, but despite its gritty exterior, the city has a fascinating past featuring Mayans, colonial days, hurricanes, and fires. To learn more, visit the Museum of Belize, housed in a former prison; pop into Government House; or explore the Old Belize Cultural and Historical Centre, a museum, beach, and restaurant all rolled into one. Built in 1923, the Belize Swing Bridge connects the south and north sides of the city and is the world’s only manually operated bridge of its kind. A short drive from the city, visitors can explore the Altun Ha Archaeological Site and the excellent Belize Zoo, which emphasizes conservation and education. This is a great place to see many of the country’s native creatures in natural surroundings, most of which are rescue animals, including jaguars, tapirs, toucans, and howler monkeys. Since the city sits at the mouth of the Belize River, on the Caribbean coast, anglers will find excellent fishing opportunities a few minute’s drive from the center of town.

Belize attractions and climate makes buying a property here a tempting project. Imagine living permanently there… the joy. Purchasing Belize real estate and Belize real estate transactions are pretty straightforward and affordable. The stamp duty (property sales tax) is set at 8% for foreigners. The first $10,000 is exempt. There is no tax on capital gains and the property tax is very low. Due diligence is called for when doing a real estate transaction. Retain a lawyer, buy into an existing property and ask for a registered title before buying. You can also use title insurance to guarantee your ownership of the real estate property. After identifying the property to buy, make an Offer of Purchase. If it is accepted, be prepared to put 10% deposit down. There is also the 8% stamp duty. Attorney fees are 1.5-2%.

If you will be staying and visiting Belize longer than 30 days, you will need to visit an Immigration Office to extend your stay in Belize. Most towns and destinations have a local immigration office that can facilitate the process and renewal. The permit required to extend your stay in Belize beyond 30 days is the ‘Belize Visitor’s Permit Extension.’ All U.S. citizens traveling to Belize must have a valid passport. Belize does not require US Passport Holders to apply for or have a visa. There are no visas required for citizens of the United States for tourist visits of up to 30 days.

Foreigners can own property in Belize as an individual or through a Belize Chapter 250 (Limited Liability Company) or with an International Business Company (IBC). A property (like Belize land) will have a title that would be issued by the lands department. Condominiums in Belize are purchased through a “Strata” title or co-op share ownership. There are a few types of property ownership in Belize and it is important to learn the differences.

With decades of experience in Belize Real Estate and working with RE/MAX Will has helped hundreds of clients find their dream homes or investment properties while personally being invested in numerous deals in this market. After years of experience in Belize and working with RE/MAX Will took on the role of “Regional Owner” for RE/MAX in Belize in 2019. Growing not only RE/MAX in the region but the global awareness of Belize. Find extra information on https://remaxbelizerealestate.com/.