Buying properties in overseas localities such as Belize, you need to a little bit cautious. Everywhere you are going to find people or cons who tries to separate a person from their money. And something such happens with anyone in a foreign country, negotiating the laws and rules are never so easy.
But Belize is a safer place. The reasons behind Belize being the safer country is because it is not like its neighbors, Costa Rica or Mexico. It is an English-speaking country. So, whatever documents and paperwork or contracts you will sign will be written in English, so it won’t be difficult to understand. The currency of Belize is also unique, Belize Dollar always stands as 2:1 compared to USD, and it is permanently, so you don’t need to check on the exchange rates constantly.
Real Estate in Belize
Buying Belize Real Estates are almost the same as buying in USA and Canada. A price will be tagged on the real estate, and then you have to negotiate the price in which you want to buy it. Once you and the seller reached an agreement, the paperwork can be remotely handled through fax. Therefore, if you are not physically present in Belize, you still can carry out the transaction of the real estate.
Real Estate Law in Belize
As per real estate law, buying, selling, or renting real estate in Belize has no restrictions as well as limitations for the foreigners. The property taxes for the real estates are very low, only 1% or even lesser are charged for unimproved land. There are no taxes in Belize for capital gains and income taxes for real estates as well as any type of income. So, your hard-earned money stays with you.
You can get real estates at an attractive price. There are gated neighborhood and energy sources are self-sustainable. There are condominiums, villas, homes, and waterfront that are all available at an attractive price.