Who may purchase land in Belize?
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 Departmentof 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.
Property taxes in Belize are assessed by the Department ofNatural 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.
Purchase of Land by a Non-Belizean:
Lawyer’s Fees for Legal Services for Conveying property are approximately 1-2% ofthe Selling consideration. Each individual is entitled to seek theirown 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.
For more information on Belize Investment opportunities, please click here