Incorrect Information - Belize

Incorrect Information - Belize

You will see a lot of articles out there on the internet that are filled with incorrect information. I have found a few myself. I just saw one today, that was brought to my attention, that said Non - Belizeans have to pay 15% stamp duty to the Government of Belize when they purchase property. This is simply not true. It's not 15%, it's not 10%, Non - Belizeans only have to pay 5% and the first $10,000 US is not counted. The article also said that you would pay 1-3% closing cost which is also not true. The closing cost is 1-2%.

The article also mentions Alien's Landholding License - (everyone purchasing more than a ½ acre in a city or 10 acres in a rural area must first procure a permit called the Alien's Landholding License)

Here is what I have from an attorney in Belize:

Non-Nationals

Non-nationals of Belize can acquire land on the same terms as Belizean nationals, without the need for any license, save and except:

Central Bank Approval
In the case of national lands, an Alien's Landholding license pursuant of the National Lands Act.

Property Taxes are very low in Belize

Taxes are very affordable. Most properties are taxed at 1.5% of the assessed value. Assessments are usually at 10-30% of the market value.

Belize maybe chic but it's still affordable. When you do your research on the internet make sure you check more than 1 source. I see a lot of misinformation out there.