Whether you are looking for a vacation home or just want to build your investment portfolio with a rental property, Belize is a great option for anyone looking for a real estate investment opportunity. When most people hear “Belize,” they think of the instability that has plagued some Central American countries. And while there have been civil wars and instability in the past, this is no longer the political or social climate in Belize. With miles of beautiful Caribbean coastline, there is no better country for real estate investment. But beauty is not the only benefit of investing in Belize; there are many, many more benefits.
Cultural and political stability
For some reason, the political and cultural instability of the 19th and early 20th centuries has significantly marred many people’s view of Belize and of all Central America. In reality, Belize has a stable, fully-functioning democratically elected government. They can be compared to Costa Rica in stability and functionality, with an extremely peaceful cultural climate. Plus, the currency used in Belize is the US dollar, and the judicial system is the same system used in any other independent British Commonwealth member.
Property rights make Belize an ideal investment opportunity
In Belize, like in any country whose legal system is derived from English Common Law, foreigners are perfectly welcome to purchase and own property. It’s simple to do so, and there are absolutely no restrictions. Because the English Common Law system is familiar to most people, navigating it to purchase a plot of land is rarely difficult.
Despite being a Central American country, surrounded by countries that largely speak a dialect of Spanish or Portuguese, the official language of Belize is English. This makes it very easy for English speakers to purchase land, as well as make their home in Belize. All legal documents, such as the title to your property, will be in English, which makes it much easier to fully understand the nature of your investment, if your primary language is English and you speak very little Spanish.
Though Belize does not use the US dollar, its currency is pegged directly to USD. Every two Belize dollars equals one US dollar, despite what either economies are doing or how other exchange rates are fluctuating. Because it is pegged to a stable currency, the Belize dollar is also a very stable currency. It is often possible to find prices listed in both currencies, and most real estate investments are automatically priced in USD.
Unlike seedier tax havens, Belize provides a safe, regulated tax respite for your investment. Supported by the government, it is one of the best places to keep offshore accounts, and is one of the best places to invest in real estate, as owners do not have to pay taxes on capital gains or inheritances. In addition, property taxes are extremely low, making it an all-around great place to invest your money.
Unlike many countries that are fairly inaccessible by plane or train, Belize has frequent flights to North America and to Western Europe. The short travel times make it great for those who want to use their Belize real estate investment as a vacation home, or who just want to visit the property in person before purchasing. Especially when flying from the US or Canada, there will be no jetlag!
Belize is one of the few tropical countries that is not consistently overrun by tourists. With weather similar to Southern Florida (warm temperatures throughout the entire year), it makes the ideal place to make a real estate investment. Whether you have the luxury of being a snow bird and leaving the cold of winter behind for a month, or just want a beautiful summer retreat, a property in Belize is a great choice.
There are few other places on earth where you are going to find people as friendly as the people of Belize. Unlike other countries that are notoriously unwelcoming to foreigners, Belize seems to welcome them with open arms. Their genuine friendliness is one of the best benefits of choosing Belize for your real estate investment. Even if you only visit once a year, you never feel like an outsider.
The Bottom Line
With low taxes, a stable economic and political climate, beautiful scenery, and an ideal location, Belize is one of the best places for your investment. Having English as the official language and friendly local people only makes this location more attractive. If you are considering making a foreign investment, Belize is the best option. There are few other countries that can offer the same benefits of being a tax haven, coupled with a stable and familiar government and legal system.