Although the real-estate investment market is subject to fluctuation, the relatively unknown Central American country Belize has gained a lot of attention as a promising place for investors in recent years. While it is normal to be skeptical about any new tip, there are many reasons you can feel comfortable investing in Belize.
Property Laws You Can Understand
Many potential investors don’t pull the trigger because they think they don’t know enough about the legalities. It’s easy to do business in Belize. English is the national language, and real estate law follows the British system. This makes it easy to walk through the steps of purchasing a property.
Efficient Terms for Investors
Belize has some of the most competitive tax rates around the globe, so you don’t need to worry about annual taxes eating into your investment. The closing cost is usually 1% and property taxes are typically 1 to 1.5%. You can make this a very attractive tax haven by ignoring any taxes or investments outside of Belize. They also don’t charge any capital gain tax.
Special Offers for Foreign Investors
Belize is particularly eager to welcome new residents. This can give you even more benefits if you choose to invest. Qualified Retired Persons Incentive Act first appeared in 1999. It continues to provide huge benefits for people over a certain age with a minimum income of $2,000 per month. This provides a smooth path to citizenship and a chance to transfer your belongings if you want to live in Belize.
Full Ownership Privileges
You don’t have to own a property just because you bought it in another country. A lease that has been extended over many years can be considered a sale. This could make it difficult to sell your property. But if you decide to invest in Ambergris Caye Property, your property will be yours forever.
A Stable Currency
You can get more bang for your dollar by investing in countries with generous exchange rates. However, it is also a risky investment due to market volatility and government instability. The conversion between the U.S. dollar and the Belizean dollars is simple and the value of the Belizean dollar fluctuates very little. This is unlikely to change, as Belize continues its growth as a tourist destination.