The real estate investment market is always prone to fluctuations, but the relatively unknown Central American country of Belize has been getting a lot of traction as a promising place to invest in the past few years. And while it’s reasonable to be skeptical of any hot new tip, there are plenty of reasons you can feel comfortable making an investment in Belize.
- Property Law You Can Understand
A number of prospective investors never end up pulling the trigger simply because they assume they don’t have the knowledge to navigate the legalese. Fortunately, things are cut and dry in Belize. Since English is the native language and the real estate law is based off of the British system, walking through the steps of a purchase is as easy as can be, and that’s especially true when you use a reliable representative like Hesed Realty LTD.
- Generous Terms for Investors
Belize offers some of the best tax rates in the world, meaning you won’t have to worry about your annual costs eating up a huge chunk of your investment. You can usually expect to only pay 1 to 1.5% property taxes in addition to a closing cost in the ballpark of 1%. Add in the fact that they ignore any taxes or investments located outside of Belize and don’t charge any capital gains tax, and you’re left with a pretty appealing tax haven.
- With Special Perks for Foreign Investors
Belize is especially eager for new residents, and that can offer you even greater advantages if you decide to invest. The Qualified Retired Persons Incentive Act was first introduced in 1999, but it continues to offer huge benefits to people of a certain age who can demonstrate an income of $2,000 a month. It offers not just a smooth pathway to citizenship but also a free opportunity to move your effects if you’re looking to live in Belize as well.
- Full Ownership Privileges
Just because you buy a property in another country doesn’t mean that you necessarily own it outright. In many instances, what qualifies as a sale is actually a lease that’s extended over a period of years — and while that’s unlikely to be a problem in a single lifetime, it could become an issue if you want to hand down your property. But when you invest in Belize, you’ll own your property outright into perpetuity.
- A Stable Currency
Investing in countries where exchange rates are generous can help you get more bang for your buck, but it can also be a risky investment depending on market fluctuations and government instability. Conversion between the U.S. and Belize dollar is very simple, and the Belizean dollar experiences very minimal fluctuations in terms of value. That’s unlikely to change as Belize continues to grow in popularity as a tourist destination.