What You Need to Know About Belize Property for Sale Belize is one of the countries that offer excellent liberal retirement programs in the Caribbean region. In 1999, they established a Retired Persons Incentive Program which was put up in order to attract more retirees to buy Belize property for sale. The Retired Persons Incentive Program sets attractive packages to foreign nationals, including exceptions from levy and other taxes, especially when buying Belize property for sale. In the Retired Persons Incentive Program, the buyer should be a retiree of over 45 years old. Those interested in retiring in Belize must show a pension plan and show money. These are the stipulations under the Retired Persons Incentive Program and they are strict about it. What Belize wants is for people to move in the country and invest their money. Those without retirement pension plans are not allowed, neither are foreigners looking for jobs. The government of Belize does not want foreigners to invade the employment sector, which is already very competitive for its locals. Under the Retired Persons Incentive Program, would be retirees will be allowed special privileges, including importing items duty-free. It is easy to purchase a Belize property for sale, but there are many local rules that would be best to research on before investing your savings on a property. Here are a few facts and tips to guide you. Belize Property for Sale #1: If you are buying a condo it is best to deal with the owner of the condominium rather than buying it from the condo association. Also, be aware that there are a few non-existent condo managements. Belize Property for Sale #2: Buy an already built design home rather than designing and constructing one up from the ground. Building a new house requires a bit of time and is quite challenging. You have to be there everyday to manage construction, haggle on the prices of the materials, secure permits and so on. And because you are a foreign national, you really are in the dark as to getting the best deal. It is a stressful undertaking, however, if it is something that you enjoy, then by all means do it! Belize Property for Sale #3: Be aware that you will be paying a stamp tax or property tax when you buy a home. The rate before was 15 percent of the amount you paid for the
house. Today, it is lowered down to five percent. Belize Property for Sale #4: Make sure you can trust your real estate agent. Belize real estate agents are not licensed, so beware and check up on the people you will hire. Belize Property for Sale #5: You will need a lawyer so that he can get a property title and check its authenticity. Again, do research on the property you are interested in purchasing and make sure it is not disputed land or does not have any legal claim pending in court. Good luck and hopefully you learned some important tips from this article.
Published on Dec 1, 2010
Belize is one of the countries that offer excellent liberal retirement programs in the Caribbean region. In 1999, they established a Retired...