Home Property in Belize
How to buy a house in Belize?
Here you will find the detailed information about real estate purchasing in Belize:
- the right way to choose the property and to effect the deal;
- property taxes and duties that should be paid;
- everything about home loans in Belize;
- home property management and renting;
- rental, commercial properties and related investment properties.
Real estate for sale
Most recent offers from house owners in Belize and from real estate agencies. Advertisements with the fixed price and auctions are listed here.
You can leave a comment and give advice to other visitors planning to buy a home in Belize.
In Belize there are all necessary conditions for successful business growth. So, businessmen of Belize have a primary access to CARICOM (or a common market of the Caribbean). The Caribbean policy of the nearby United States is also favorable for Belize. As well the Great Britain doesn't stop support and development of trade relations with Belize which was its colony earlier. At last, Belize is an offshore zone thanks to what business is especially attractive here.
In Belize any form of investment is welcome: so, a full foreign investment is possible, and the so called joint property of the land and enterprises is possible too. We would like to note an important fact that foreign investors and also the owners of the Belize real estate has the right to use facilitated procedure of receiving of the residence permit and further the legal nationality in comparison with other countries. The passport owners of this small, but very advanced and developed country have the opportunity to go to the Great Britain, Ireland and also to many other countries without visa.
The legislation of Belize ratify to acquire the real estate of Belize by the foreign nationals without any restrictions. So, it is necessary to pay a state duty (or the Stamp duty) which size makes 5% of the property cost, and also to pay services of the lawyer who makes out the transaction (his fee makes 2% of the real estate cost). For registration of the real estate the buyer needs to have only the copy of the international passport.
BUT there is another thing: if you want to get the land plot in Belize, it is necessary to buy a special license for land possession from the state previously. To be fair we will note there is nothing terrible in that as the cost of such license is small ($150), and it doesn't make special problems to receive that (there was no case of refusal). Besides if the size of the land plot doesn't exceed half an acre (about 0,2 hectares) within the city or 10 acres outside the city limits, it is authorized to make the transaction of purchase and sale without this document.
The real estate agencies in Belize hold so-called "tours" for surroundings for only $25 a day for those who is interested in investment in the local land. Thus if you stop the choice on one of the objects, you will get back all your means paid for the “tour” (agree, it’s a pleasant innovation).
The procedure of making deal in this country is as follows:
- the real estate is selected;
- the preliminary agreement is signed, at the same time a deposit in the amount of 10% of the property sale price is paid in (this percent will be paid for the affected party in case of cancellation of the transaction);
- legal verification of the property;
- signing of a final version of the contract and transfer of the remained sum.
Pay attention to the following information: if at acquisition of the property you commanded the real estate agency services, probably you will be suggested to reward his employees, and we recommend not to do it as in Belize this part of expenses is usually assigned for the seller. Besides agency commissions are rather great (7% from a private house or an apartment and 10% - from the sold ground) therefore if the seller refuses to pay previously, it is better to find other suitable alternative. As for the taxes it is necessary to notice that the size of the tax on the real estate is individual in each district. On the average it is 1-1,5% of the property cost. Neither a tax on capital accretion, nor charges on received inheritance neither you, nor your children won't pay in this country.