A Simple Guide to Buying Real Estate in Belize
If you’ve ever considered living in Belize or buying property in Belize, you’re not alone. Whether it’s because you want to enjoy living in paradise or simply as a smart investment move, buying real estate in Belize is one of the smartest decisions you can make.
Belize is an English-speaking country, which means that all contracts, deeds, and agreements are easily understandable. Belize has strong property rights, and there are zero restrictions on foreigners buying, renting, or selling real estate. And best of all, property taxes in Belize average just 1-1.5% of the unimproved value of the land.
The process of buying real estate in Belize is almost identical to that in the United States or Canada. Working with a local attorney, you can even handle the paperwork remotely via fax machine. And Belize imposes zero capital gains taxes, so if you want to sell your property in a few years, you won’t have to worry about the government of Belize taking your profits.
Belize also makes it really easy to gain residency. The government’s QRP program, available to qualifying individuals age 45 and older, along with their family, allows you to live in Belize with a minimum residency period of just 30 days a year. The QRP program imposes zero taxes on any income earned outside the country, and you can import all of your household goods (including vehicles) completely duty-free.
The only hard thing about buying real estate is deciding where you want to live. That’s why many expats choose Belize’s northern Corozal District and the community of Orchid Bay. Located right across the water from the tourist island of Ambergris Caye, Orchid Bay is a master-planned community offering modern infrastructure and convenience in a beautiful Caribbean setting.
Orchid Bay has both completed homes and undeveloped lots available at very competitive prices. Orchid Bay also organizes buyers’ tours so you can learn more about life in Belize as well as get a chance to meet your future neighbors. Should you decide that buying real estate is right for you, Orchid Bay will help you with every step of the process.
Orchid Bay is a thriving community, home to one of the most popular restaurants and hang-out beachfront spots in the northern part of the country. If you’ve been looking for your new home, Orchid Bay may just be the right place for you!
If you’d like to learn more about buying real estate in Belize, contact Orchid Bay today.