Many people have considered retiring or investing in property in Belize but want to be sure of what they’re getting into before committing. The good news is that buying, selling, and renting property in Belize is both safe and easy.
The government of Belize warmly encourages foreign investment. There are no laws in Belize to restrict the purchase or sale of residential property in Belize. In fact, foreign property owners have exactly the same rights as Belizean homeowners.
Best of all, as the only country in the region where English is the official language, all documents, paperwork, and contracts are in English. The court system in Belize was inherited from the British and property rights are strictly enforced.
Low Barrier to Entry
Belize is a fantastic investment environment precisely because the government encourages foreign ownership of property. Closing costs, legal fees, and associated expenses are much lower in Belize than most other places. And the government offers generous tax breaks to homeowners. Even property taxes are quite low, usually around 5% of the assessed value.
The currency in Belize is called the Belizean dollar and abbreviated BZD and is permanently pegged to the U.S. dollar at 2:1, meaning you’ll never have to struggle with shifting exchange rates and complicated calculations.
The QRP Program
One of the strongest incentives for people to move to Belize is the QRP program. Although the acronym stands for the Qualified Retired Persons program, it is open to any qualifying individual age 45 and older and their family. The QRP program includes several benefits, including no taxes on income generated outside of Belize and the ability to import all of your personal goods (including vehicles) completely tax-free.
Furthermore, Belize does not have a capital gains tax. If you buy property in Belize and then later sell it for a profit, you do not have to pay any additional monies to the government of Belize.
Enjoying the Good Life
Belize is a small country blessed with a bounty of natural beauty, gorgeous landscapes, and fantastic weather. The Belize property market is rapidly heating up, but the good news is that there are still really great properties available at advantageous prices.
Retirees and expats in Belize commonly lavish praise on their new life in the country. Whether it’s the great weather, the abundance of fresh, organic food, the active ex-pat social life, or simply the low cost of living, expats love their new life in Belize.
Cerros Sands is a master-planned, gated community located right on the beautiful Chetumal Bay in Corozal District. Completed homes are for sale as well as beachfront, waterfront, and deep channel access parcels at very attractive prices. A popular expat community with outstanding infrastructure, access to top-quality healthcare facilities, and shopping, Cerros Sands is an ideal place to retire or invest in a vacation home.