Closing on Real Estate Property.

• Contact us for a property viewing
• Choose the property you wish to buy
• Deposit US 1% of the sales price as Earnest Money.
• The Earnest Money form there goes to the seller to sign, change or refuse.
• If seller signs increase the earnest money total to 10% of the selling price.
• The earnest money receipt then goes to an attorney to make a new title or a contract.
• The attorney searches the title for any discrepancies, if any found you receive money back.
• The attorney is guaranteeing your title.
• After the title or contract is ready to sign, it will be sent to you, the buyer, by courier.
• After buyer signs, it is sent then to the seller to sign
• After receiving signed documents, the buyer pays the balance owing to the seller direct.
• After the seller receives his money, we take the document to the attorney to be recorded.
• The recorded document process takes about one month.
• You now own part of Belize .

Investment Property. If you were going into commercial venture, you would first need to put earnest money on the property and also apply to form a corporation. To get a duty free concession to bring things needed for a hotel or another business, you must have a Belize Corporation.

Annual Land Tax. Outside of the city is 1% of the market value of the undeveloped land. City property tax is generally 3-8%. Individual income tax is on a sliding scale and company income tax is a flat 35%. There is no capital gains tax.

Financing.For foreigners in Belize is generally not available. Some land sales are owner financed.

Foreigners doing business in Belize. In Belize are accepted in most all fields. Tax free concessions are generally given for larger development investments.

Obtaining a Belize Bank Account. You need at least two and better three letters from bank, credit card company etc. showing that you have money in the bank and have been paying your bills. To do much business in Belize you need about ten Passport size pictures.

Moving to Belize. If moving to Belize just to live, you can bring furniture, personal effects and some other items duty free. On boats, cars, TV sets and others, you probably would pay 20%-70% duty.

Retiring to Belize.You must have a regular income of over $1000 US per month. Complete cost $700 US. Not have a criminal record, some bank references. Duty-free on household effects to US $15,000, a car not over 3yrs old. You may have a boat. You will need birth certificates for your family, a police record, passports, and complete medical examination. Application and more information are available from the Belize Tourism Board, Belize City, Belize.

Passport.You must have a passport to visit Belize. Length of stay is based on getting your passport stamped once a month, going out of the country for one night once every 3 months or getting residence standing that takes about 6 months to a year and costs about $600. US. To work in Belize you need a work permit.

Cost of Living. Generally speaking it is less expensive due to fuel and clothing.

Home Insurance. Cost is between $16 to $20 per $1,000.


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