Yes, buying property in Belize is exceptionally easy compared to other countries. Foreigners have the same property ownership rights as Belizean citizens. It’s important to note that the “alien landholding license” and the Alien Landholding Act were abolished in 2001, giving foreigners equal property ownership rights. This is quite rare in many Western Hemisphere countries and even more uncommon in developing nations. To learn more about buying real estate in Belize, visit our Island Belize Sale page.

Buying land in Belize is a relatively easy process. The first step is to submit an offer to the seller using a legally binding offer form, which includes a due diligence period for the buyer. If the seller accepts the offer, the buyer will need to hire a Belize real estate lawyer to assist them through the next steps of the process. Title research is crucial to ensure that the seller has legal ownership of the property, and once this is confirmed, an Agreement for Sale is created, signed, and witnessed by a Justice of the Peace. The payment amount is due into escrow at the specified time. Next, the Belize property transfer documents are executed and delivered to the buyer and the real estate lawyer for review. The lawyer will finalize the documents, and funds are released from escrow. Finally, the executed documents are processed at the Belize Lands Registry, and the buyer receives either an original title or a certified copy of the Agreement of Sale. It is highly recommended to speak with a Belize real estate attorney before beginning the process to ensure a smooth and secure transaction.

It’s not necessary! A large number of property transactions in Belize are conducted with one or both parties located outside of the country. The necessary real estate transaction documents can be sent to the absent party via FedEx and executed in front of a notary public overseas. Purchase offers can even be submitted via facsimile and are considered legally binding in Belize.

The only way you can be absolutely sure that a Belize property has a clear title is by having a Belize attorney research the title and issue a title opinion. The title is researched at the Belize Lands Registry, and also the Belize Companies Registry if the property is currently held and being sold by a Belize company. Liens, judgments, and encumbrances are valid only if properly addressed. An opinion of “good and clear title” is issued only once the Belize real estate attorney has conducted all necessary title research. As a real estate agency, we cooperate with Wrobel & Co. LLP and highly recommend their services for anyone interested in buying or selling property in Belize.

Typically, properties in Belize are taxed at a rate of 1.5% based on its assessed value, which is usually between 10-30% of the property’s market value. When compared to other countries, this tax rate is relatively low and is one of the reasons why many people are investing in Belize vacation homes, land, and properties.

When buying a property in Belize, the government imposes a stamp tax of 5% on the declared purchase price at the time of title transfer. The first $10,000 of the declared price is exempt from this tax. Unlike other countries, Belize does not impose a capital gains tax on real estate transactions. However, buyers are advised to pay for legal fees to ensure the validity of the title and protect against real estate fraud in Belize. The responsibility for paying all closing costs in Belize real estate transactions falls on the purchaser.

Belize real estate transactions, including purchases of Belize vacation homes and Belize property, commonly involve the use of US dollars, although the Belizean currency is also widely accepted.