Information and answers to some of the most commonly asked questions regarding buying investment property in Belize
All land in Belize is freehold, and you can also back this up by purchasing title insurance at the time of closing.
There are no restrictions on ownership by foreigners, and you may take title using a trust, a local/international company, or as an individual.
Local attorneys can advise you further with regards to forming a local company and the advantages and disadvantages this may provide.
The first step is for you to select one or more lots for purchase, and you will then be sent a reservation agreement. You will also pay a reservation fee, currently set at 10% for most lots, with a minimum of $1.500 USD.
Once the reservation documents and accompanying paperwork have been submitted, you will be sent the purchase documents. Once they have been signed and returned to the attorneys’ office, a closing will take place.
At this point, your funds will have to be wired to Belize for the purchase.
Once the closing has taken place, you will be notified by the closing agent, and receive all the required paperwork, as well as the deeds once they have been processed.
The purchase process in Belize is very similar to that of the United States and United Kingdom.
The whole process is supervised by local legal experts, who will make sure that you land is transferred free and clear, and into the entity of your choice, and that you will receive all accompanying paperwork in a timely manner.
The building costs in Belize vary with the type of property you are looking for, but in general, count on paying $60 per square foot for a standard site-built property.
The style can best be described as “Caribbean” – one story homes, often with 2 bedrooms and a large patio are the most common in Corozal. A standard home would be approximately 1.000 sq.ft (can be built for around $60.000 USD) they would be built with a rain catchment system (for the water supply) or you could choose to have a well built, the cost of a septic tank is around $2.000 USD as well.
Another very affordable option is purchasing a manufactured home from the Mennonite community (Amish) as these wood houses look great, and are VERY affordable.
No, there is no need to obtain insurance on the property – however, we do recommend that all buyers explore the option of buying title insurance.
As of 2013, there is no Capital Gains tax in Belize.
Get the latest property and investment opportunities direct to your inbox for FREE (you can unsubscribe anytime)
Beautiful Belize - The Jewel of Central America
All property news from Belize
Subscribe to our RSS Feed
Fill out a requirements form and our experts will help you find a great selection of properties for sale in Belize.
Help me find property in Belize
Considering a property purchase in Belize or need to transfer currency to/from Belize?
Save Thousands in Currency Transfers
When considering a buying property in Belize, you are well advised to get expert mortgage advice from a mortgage broker.
Get a mortgage quote in Belize
Owners Direct is one of the UK's leading direct from owner rental websites and the first choice for holiday home owners who want a cost effective and easy way to fully book their properties.
Find out more
If you own or are about to purchase property in Belize, you get an insurance quote using our online insurance quote form.
Get Insurance in Belize
Do you have your British assets covered by a will?
Do you have your movable foreign assets covered by a will?
Have you made plans to protect your family in the event of your death?
Get more information on Wills
Everything you need to know about transferring your UK Pension is in our downloadable guide.
Get more information on Pensions
Belize District Property
Corozal District Property
Orange Walk District Property
Subscribe to our newsletter and keep up to date with the latest and best investment opportunities around the world!