The Belize real estate industry is drawing interests from around the world, but it’s still in its infancy. And while retirement homes and resort properties are in high demand, farmland and commercial properties are far more overlooked. It’s a market that’s far from reaching its saturation point, and the best value will come the earlier you can get into it.
- Government Assistance
Development has been a major incentive for the Belizean government, and that means that foreign investors are presented with quite a few perks. Real estate tax rates remain at 1% of the undeveloped value of the land, so you can essentially sit on your land comfortably while you wait for infrastructure to catch up — or you can go ahead and develop to your heart’s delight. Belize is recognized as a tax shelter, and that gives you great flexibility to start a new business without having to complicate things with taxes on your existing sources of income.
Belize touches the Caribbean Sea to the east, Mexico to the north, and Guatemala to the west. There’s demand for Belize’s fresh and delicious crops elsewhere in the world and plenty of distribution options to get them where they need to be. It’s a model that’s allowed local business like Marie Sharp’s Hot Sauce and Travellers Liquor to thrive on an international model despite their relatively modest operations.
- Fertile Farmland
The Mayas made Belize a cornerstone of their empire because they understood the importance of this fertile land. The Cayo District in particular is known for having land that’s great for growing crops and raising animals, but it’s not the only land in Belize worth farming. The same elements that make this fertile land for rainforest also makes it fertile land for growing crops.
- A Place to Retreat
Farmland makes good business sense, but it doesn’t just have to be a business prospect. An agricultural plot gives you a home away from home — or a new home to replace the one you have now — and there are plenty of incentives to move. The Qualified Retirement Persons Plan stands out in particular, as it allows you to essentially become a resident duty-free and with little in the way of taxes to deal with.
Investing in the the agricultural sector might not top the list of reasons to visit Belize, but it can definitely pay off dividends if you know what you’re doing. Fortunately, you don’t need to know every little detail when you have a partner like Hesed Realty Ltd at your side. We can leverage our local knowledge and resources to help you find the perfect farmland for your needs.