Purchasing land in Belize is simple since foreigners have the same rights as locals when it comes to land ownership. All land purchases incur the Government Stamp Transfer Tax, which is just below 5 percent of the purchase price as of 2015, according to Belize.com.
Property taxes in Belize are also the lowest in the region, amounting to only about 1 to 1.5 percent of the assessed value of the property, according to Caribbean Property Consultants.
Belize.com offers the following tips for purchasing land in Belize.
- Work with a licensed agent or lawyer
- Conduct a title search
- Purchase the property
Transactions should only be done through a licensed real estate agent or a lawyer that is not affiliated with the real estate agent. This helps to avoid land scams. Acquiring the services of a lawyer to assist in the land purchase will cost from 2 to 5 percent of the property value.
Do a title search of the land through the Government Land Registry to ensure that it is free from any encumbrances, liens or judgments.
Once the agent or lawyer finishes the title search and confirms that the land title is clean, purchase the property. The transaction can take from 30 to 90 days to complete.