Belize Real Estate Laws
In Belize not only can Belizean own properties but also foreigners. Because there is a different Belize Real Estate Law that can prevent you from owning a property. It is wise for foreigner investors to do their due diligence before purchasing in Belize. Ambergris Caye Realty is not only a boutique Belize Real Estate firm, as we also guide our clients through the process. Ambergris Caye Realty let’s you know and be ensured the property you want to buy has a clear title.
The Process for Purchasing a Property in Belize
Belize Real Estate Laws has a process for purchasing a property in Belize. It begins with researching and using a reputable broker. Once the broker has confirmed the agent will bring a contract. Purchase must be with a secured deposit. A closing takes between 30 to 60 days. When purchasing a property you do not need to be in Belize, but it’s a better choice to view your property. The golden rule to buying or selling a property is to use s reputable AREBB broker who will act as your agent.
The Properties Insurance and Tax and your Bank account
The properties insurance is available to buildings and structures through local insurance here in Belize. they are re-insured through US and European carries. Rates run from 1.5% for concrete structures to 2.5% for wooden structures and 5% for storms and for a fire. So tax in Belize is affordable and its based on a classified system with main variables being considered. In Belize you can create account even if you are not from here, but you will need your US bank reference letter, copy of passport of each individual or director of a company and confirmation of address or the address of your company registered office. Please contact Ambergris Caye Realty if you have any questions about Real Estate Law.