Why Investing in Belize Is An Incredible Opportunity
Investing in Belize is a great investment and opportunity for foreigners. The banking regulations, strategic locations, pro-business environment, and a friendly tax regime make it a great opportunity for foreign investment. Not to mention the country is English speaking and Belize’s proximity to the U.S.
People explore buying real estate in Belize for a variety of reasons:
The two most common inquiries we receive are 1) from retirees moving to Belize who is looking for a home surrounded by tropical land, and; 2) investors looking to cash in on inexpensive land and properties in the country (some of whom live in Belize and some of whom do not).
Whether one of the reasons above is yours or you have other ideas, real estate here is cheap, plentiful, and quickly acquired by non-citizens. Belize is one of the few countries in the world where foreigners enjoy the same rights as citizens; with regards to property ownership in land ownership and tenure. All land purchases are subject to a Government Stamp Transfer Tax, which currently 8% of the purchase price. The Government Stamp Transfer Tax is only real property and not contents. For example, if you purchase a beachfront condominium for $350,000.00 US and the contents of the condo are $50,000.00, the 8% Transfer Tax would only be on $300,000.00 US.
The buyer is responsible for paying the Government Stamp Transfer Tax and is only a one time fee. The fact that property taxes are very cheap in the country, this Transfer Tax is not that important in the long run. For home values at $1,000,000 US, annual property taxes range from $750.00 US-$1,250.00 US, compared to the United States where it could range anywhere from $30,000.00 US to $50,000.00 US annually.
If you are interested in buying a home or real estate in Belize as an investment opportunity, an important incentive, in this case, is the absence of any capital gains tax in Belize. Of course, this means if you buy property in Belize and then sell it later for a profit, your profits will not be taxed. Also, a good thing to keep in mind if you buy a home in Belize as a retiree and then for some mind-boggling reason you change your mind about retirement in Belize.
Investing in Belize ~ Banking
Banking ~ Investing in Belize
Investing in Belize is great for those foreigners who want to open bank accounts. Customers must bring in two (2) Bankers References from established institutions, along with his/her passport or a notarised copy, and one other form of identification. The customer also must bring in a recent utility bill (not older than three months).
One must bring valid identification (Social Security Card and Passport), along with a recent utility bill (not older than three (3) months to confirm the place of residence. A minimum deposit will be required to open the account and may vary among banking institutions.
“To open a checking account, the Bank would require a Bankers Reference from an established banking institution, or that the customer maintains a savings account before opening a checking account. The customer must also present valid identification; along with a recent utility bill (not older than three months) to confirm the place of residence.
Investing in Belize ~ Strategic Locations
Strategic Locations ~ Investing in Belize
Caribbean gateway to Central America and the Caribbean, as Belize commonly views itself as the most convenient hub for gaining access to both regions.
Belize is bordered to the North by Mexico, South and West by Guatemala; by the Caribbean Sea on its East.
Belize characterises itself by a variety of incredible biological and geographic diversity. The mainland contains tropical rainforests, coastal forests and grassland that host precious tropical flora and fauna.
The Belizean shore distinguishes it by its more than 100 coastal islands; and the largest barrier reef in the Western Hemisphere – spanning over 180 miles (290 kilometres).
Investing in Belize ~ Pro-Business Environment
Pro-Business Environment ~ Investing in Belize
Belize’s natural assets, progressive development policies, pro-business investment climate, and long-time democratic stability have created an ideal destination for investors seeking a sustainable harbour amidst the waves of global economic hardship. Furthermore, the Government of Belize (GOB) is wholly committed to supporting the country’s niche-oriented development model; while preserving the country’s distinctiveness and fostering investor confidence. Likewise, the wide array of investment-related incentives has all continued to reinforce Investing in Belize firmly.
Also, as a testimony to the global reach and effectiveness of Belize as an investment destination, the Economic Commission for Latin America and the Caribbean (ECLAC) has ranked Belize 5th in the Caribbean in terms of Foreign Direct Investment inflows about GDP in 2014. The publication also ranks Belize 3rd in terms of profitability of Foreign Direct Investment (FDI) at 9% when compared to the rest of the Caribbean region.
Current priority sectors for investment include:
- Tourism & Leisure (w/ Medical Tourism)
- Agri-business & Agro-processing
- Fisheries & Aquaculture
- Sustainable Energy
- Offshore Outsourcing (BPO, ITO & KPO)
- Light Manufacturing and Logistics
Additionally, Belize provides the three (3) main elements sought by global investors:
Stability: long-standing, democratic tradition; an independent judiciary; fixed exchange rate with the US Dollar (Bz $2 = US$1) since1978
Profitability: attractive Fiscal Incentives and concessions; Commercial Free Zones; Export Processing Zones; repatriation of profits and dividends.
Live-ability: subtropical climate, virgin rainforest, un-spoilt beaches, a spectacular barrier reef and friendly people
Investing in Belize ~ Friendly Tax Regime
Friendly Tax Regime ~ Why Investing in Belize
In a world increasingly seeking natural products, where organic, fair trade and eco-labelled certifications fetch price premiums; Belize’s natural assets, development policies and pro-business investment climate have created an ideal destination for investors. No other country has so empathically proclaimed this niche-oriented destiny.
In addition, the Government of Belize (GOB), recognized by investors as supportive and predictable; is wholly committed to creating the conditions; policies and institutions to continue supporting the country’s niche oriented development model. In addition, Investing in Belize offers a business friendly tax regime with low corporate tax rates; that enable keen profitability for your business venture.