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Rentals and Commercial Properties
Rentals and Commercial Properties
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A title search is advisable before purchasing property in Belize. This title search verifies the validity of the title/deed. Also addressed are inheritance issues, if there are any restrictive covenants with property, and also verifies survey descriptions. Moreover, the title search determines if the property in question has any pending Court action. We advise you to obtain your lawyer(s) to conduct this search. For this service, lawyer firms in Belize have an average cost between US$150 and US$300 depending on the case. Should you require, IFOUND BELIZE offers paralegal services as well. It is important to note that even though there are several realty firms or realty service providers, IFOUND BELIZE ensures that all our listings are in good title and deed. Hence, all our listings are filtered rigorously with proper processing, to safeguard against any possible repercussions that result in lawsuits or harms to our clients. *Important Note IFOUND BELIZE’s efforts will be geared towards providing you the highest satisfaction possible. These points below will help guide you in finding your property to best achieving your requirements. Before purchasing property consider: ．Why do you plan to purchase a property in Belize? : (Retirement, Relocation, Children’s Education, Investment, etc.) Purposes for property (commercial, residential, or both, farming, etc.) ．Features of property you are interested in : ( Waterfront properties, Mountain view properties, Roadside Properties, Business Properties, Farmland Properties, Over 20+ Acreage/Large Acreage) ．What is my budget?． ．When are you considering to purchasing property? (For example, within 3 months, more than 3 months?, etc. as this will help us to provide updates to you.) Should you require further assistance or if you would like to provide us with your feedback, kindly contact us.
Before completing a purchase of property, Stamp Duties are paid to the Government. This is a 5% tax on the selling price after a deduction of US$10,000. In other words, you do not pay stamp duties on a property that costs US$10,000 or less. If the property costs $75,000, then you subtract the threshold of $20,000. Therefore you would only pay the stamp duties on $55,000, which would be $2750.00 (5% of $55,000). There are also other fees incurred such as recording and registration fees. These are approximately US$15. Moreover, Land Taxes are charged yearly and these are calculated on the property value and determined by the Government.
(a) Deed of Conveyance: It is the oldest form of title ownership by a Deed of Conveyance. Ownership by way of conveyance is a registered right to ownership of property. Ownership by conveyance can be converted to a Certificate of Title via an application for first registration. The subsequent buyer is issued a Transfer Certificate of Title. However, that a Deed of Conveyance is a valid legal title once an attorney has confirmed that the seller has good title to the property. (b) A Transfer of Certificate: This type of ownership is secure. A Transfer Certificate of Title is a physical title to a particular parcel of land. It is more costly and time consuming to transfer title on a Transfer Certificate of Title than Deed of Conveyance. (c) A Land Certificate: This is an absolute title and applies to property purchases in new or specially designated areas. The Government is in the process of re-registering all freehold lands under the Registered Land Act of 1987 to achieve an eventual uniform system of nationwide land ownership. However this process is very time taking as survey is yet not completed.
Another name for Belize is the Hidden Jewel. This country, full of both marine and wildlife, is just a 2-hour flight from Houston or Miami. Belize is a peaceful nation with a tropical climate having over 185 miles of unspoiled coastline. While Belize has the second largest barrier reef in the world, the vast flora and fauna of the land exhibit the natural beauty of this breathtaking, beautiful, and blessed nation. When speaking about Belize, one cannot ignore its history having many famed historical sites from the Maya ruins to the deep caves. Furthermore, over 20% of the country and its marine life are considered protected land, private reserve, or marine reserve. As a developing country, Belize’s pollution is at a low rate in comparison to other countries. Belize’s main language is English though a vast array of cultures can be found in Belize including the indigenous Maya communities, Mestizos (Spanish and Mayan descendants), Creoles, Indian, Chinese, Arabic, European, and other cultures. Belize is also member of both the United Nations and the British Commonwealth. Belizeans are generally known to be warm, generous, and caring people. The Government is stable granting many opportunities to foreigners who want to purchase property in Belize. One can acquire full title to land and property. There is no inheritance tax, no capital gains tax, and offers a Belize Residency and Retirement Program.