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Buying Land in Belize - Belize laws for foreign ownership

Who may purchase land in Belize? Every-one, and full title is granted to non-Belizeans in fee simple title.

Property taxes in Belize are assessed by the Department of Natural Resources and are due on the 1st of April of each year. Belize's property tax is considered to be one of the lowest of any of the Commonwealth countries. A typical 50' x 125' beach lot's annual property taxes will be somewhere in the US$20-40 range.

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                                    Photo Credit: Cayo Espanto - www.aprivateisland.com

 

Purchase of Land by a Non-Belizean:

Belizeans and Non-Belizeans pay 5% of the Selling Consideration as a Stamp Duty or Transfer Tax to the Government of Belize. Registration and fees are very minimal (approximately $150.00BZ / $75.00 US).

Lawyer’s Fees for Legal Services for Conveying property are approximately 1-2% of the Selling consideration. Each individual is entitled to seek their own personal Legal Council. Approximate total closing costs for a Non-Belizean citizen is 6 - 7% of the selling consideration. We are happy to recommend several established legal firms to our clients and will work with you and your lawyer through the entire transaction process until completion.

A Speculation Tax was implemented in 2002 for property in excess of 300 acres, which is 5% of the undeveloped value of the land, as set by the Department of Natural Resources. This was established to provide for large tracts of land and to push developments throughout the country. This tax is paid on the 1st of April of each year.

For more information on Belize Investment opportunities, please click here.

 


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