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সোমবার, ২৭ ডিসেম্বর, ২০২১

How do you buy an island in Belize?

Buying an island may seem like the very definition of jet-setting opulence, but it’s a more reasonable option for retirement than a lot of people realize. The Caribbean waters surrounding Belize in particular are home to some 500 islands of varying sizes, and many of those are on the market. Whether you have your mind set on buying an island or you’re just playing with the idea, here’s everything you need to know.

Buying an Island as a Foreigner

One of the biggest questions to ask yourself when buying an island is what taxes and challenges you’ll have to deal with as a non-resident. In fact, the friendly stance from the Belize Tourism Board concerning foreigners is one of the biggest reasons to buy an island. Foreign buyers enjoy the unique privilege of having all the property ownership rights of Belizean citizens, and the government even offers tax incentives to foreigners looking to retire in Belize.

The Financial Expectations

The costs for an island can vary wildly depending on a number of different factors. Developed land may cost more upfront, for instance, but you have to keep in mind the higher costs of building on island properties. Prices tend to be significantly more affordable than in the Bahamas or other popular island chains, but you’ll find options ranging in price from the low six digits to $10 million or more.

The Process of Buying an Island

Belize was originally a British colony, and that means that the real estate law will be comfortably familiar to people from most English-speaking countries. Generally the process involved contacting the seller, coming up with a purchase agreement to determine the circumstances of the exchange, and a deposit is placed before the title is handed over.

Getting the Right Help

Buying an island is surprisingly straightforward, but that doesn’t mean that you should do it alone. It’s always advised that you find an attorney, a Realtor, or both when you’re looking to buy or sell a property in Belize. Many Realtors have their listings placed directly online so you can browse through potential islands without pressure.

Be sure to check out Hesed Realty if you want the pick of the litter for islands. Whether you want to spend a few million or just a hundred thousand on your property, you’ll have plenty of options to choose from.

What You’ll Need to Buy in Belize

Real Estate.

If the idea of buying real estate in a foreign country sounds intimidating to you, you haven’t seen what it’s like to buy a property in Belize. A combination of the country’s unique history, sensible practices designed to draw in new residents, and a form of real estate law that will be familiar to the average American means that buying a home is surprisingly easy. But that doesn’t mean that you should come unprepared. Here’s everything you need to know about buying property in Belize as a foreigner.

The Cost of Real Estate

Prospective real estate investors will be happy to know that the financial overhead for buying a property in Belize is practically nil. The government stamp transfer tax is usually around 5% of the purchase price, and new properties come with a general sales tax of 12.5%. You should always perform a title search, but that should only cost you around $250.

What You Need Upfront

Real estate transactions in Belize are generally straightforward. You’ll usually be expected to pay 10% of the property’s total cost as a deposit to take it off the market. While you can find loans from banks in Belize, you can also get loans from your own local institutions. The latter is generally going to be preferable for most investors.

Who You Should Hire

Belize real estate law is straightforward — and since it’s a former British colony, the laws should be familiar to American, Canadian, and British residents looking to buy a home in Belize. Even understanding that, you should be sure to hire both a real estate attorney and a real estate agent. Agents can be found affordably, and attorneys will typically charge you between one and two percent of the selling price.

The Benefits of Belize Real Estate

The biggest benefit of buying a home in Belize is how inexpensive it is. Not only are houses in this country cheap when compared to North America or Western Europe, it’s also cheap compared to a number of Central American neighbors. On top of that, Belize is particularly friendly to new immigrants. If you can meet the criteria for the Qualified Retired Persons Program Residencies program, you might not have to pay any customs and could potentially reduce your taxes at the same time.

Where to Look

Having the right specialists at your side is critical if you’re trying to find your dream home in Belize, and there are no specialists more qualified for the task than Hesed Realty. We can help you find your paradise dream home without having to spend a fortune.

Why Belize is a Healthier Place to Live and Visit

Belize is rapidly becoming a popular destination for ex-pats and retirees. This small Central American nation on the Caribbean coast enjoys warm temperatures year-round, a climate conducive both to enjoying the great outdoors as well as bumper crops of some of the world’s healthiest foods, including chocolate, citrus fruits, and coconuts.

Many retirees and ex-pats report enjoying a “new lease on life” upon moving to Belize. The country has a laid-back Caribbean lifestyle where punctuality is never a priority and human interactions are valued. More time spent outdoors pursuing activities like gardening, hiking, and bird watching allow residents to get plenty of fresh air while indulging in physical exercise, the cornerstone to a healthy lifestyle.

Seafood is abundant in Belize, fished from the abundant mangrove-lined lagoons and offshore waters of the country. Rich in vital nutrients such as Omega-3 fatty acids, seafood is both affordable and abundant. Crops grown in Belize include cashews (high in antioxidants, minerals, and Vitamins E, K, and B6), bananas, oranges, lemons, papayas (that contain high amounts of potassium), mangos (known as the “queen of tropical fruits”), pineapple, and cacao, the superfood that is used to make chocolate.

More than 50% of Belize is set aside as a protected nature reserve or national park. Residents can explore these natural wonderlands with ease enjoying activities like canoeing, stand-up paddling, zip-lining, cave tubing (floating down underground rivers on an inner tube), and swimming, all great low-impact exercises that promote health.

Belize has more than 100 offshore islands where activities like sea kayaking, windsurfing, kitesurfing, scuba diving, snorkeling, and fishing are all popular activities, all of which do wonders to reduce stress and improve your quality of life. Many residents say that simply relaxing in a hammock underneath the palm trees of a tropical island is a health tonic just by itself, to say nothing of complimentary activities like yoga, massage, and enjoying sports like beach volleyball and soccer.

Belize is also a country perfectly suited to escape the stresses of modern-day life. There are no shopping malls in Belize, nor are there any of the familiar fast-food chains like McDonald’s, Burger King, and Starbucks. Restaurants tend to be simple mom and mom affairs where a delicious variety of home-cooked foods are on offer for very affordable prices.

Expats and retirees looking for information on where to buy real estate in Belize, should look no further than Hesed Realty LTD.

We are the premier real estate firm in Belize and our real estate solutions are made simple and easy. Contact us today if you are interested in buying property in Belize.

Belize Visa and Residency Information

Belize Visa and Residency Info

When you’re ready to retire, live and purchase real estate in Belize, contact Hesed Realty Ltd. We have decades of experience selling the most desirable properties in the country. Do you want a home, a business, or farmland? We can help you find the perfect residential or commercial property.

Belize has very liberal visa and residency requirements, but it is important to understand them before you attempt to visit the country. All visitors are required to show a valid passport, usually with at least six months remaining before it expires, sufficient funds to support themselves during their time in the country, and proof of a return ticket.

Eligible individuals can stay up to one month in Belize on the so-called “tourist visa.” For individuals wanting to prolong their stay, they need to visit the Immigration Department in Belize City, Belmopan, or their local district in order to extend their visa.

Residency and Citizenship in Belize

As of 2002, Belize no longer has an “economic citizenship” program where individuals can pay a lump sum and acquire full rights.

Most expats wishing to live in Belize need to apply for a permanent residency status. This will allow you to get a local driver’s license and freely travel to and from the country. Permanent residence status is only granted to individuals living in Belize for at least one year. Expats seeking to become permanent residents should enter the country on a normal 30-day visa and successfully extend their visa until a year has elapsed.

Foreigners from the United States or Canada are required to pay a one-time fee of $1,000 to acquire permanent residency. Citizens of other countries must pay a similar fee which differs based on their country of origin.

To apply for permanent residency, download the application from here and submit it to the Immigration Department along with your police record, medical records, recent bank statements, and two passport photographs. The back of the photographs must be signed by you and countersigned by a Justice of the Peace in Belize.

In order to become a citizen of Belize, first you must acquire permanent residency status and then prove that you have legally resided in the country for at least five years. Any legal resident of Belize, regardless of their country of origin, can apply for citizenship which can then also be extended to their spouse and minor children.

For more information about visas, residency requirements, and citizenship, contact the Immigration and Nationality Department in Belize or the Belize Embassy/consulate in your home country.

The Qualified Retired Persons Program(me)

Belize has a special residency program called the Qualified Retired Persons (QRP) program specifically designed for expats. Eligible individuals must be at least 45 years old and can demonstrate that they are receiving a minimum of $2,000 a month from a pension or annuity (including Social Security) from a source outside of Belize.

Belize offers various visa and residency options for individuals seeking to visit or reside in the country. Here's an overview of the available options:

🇧🇿 Belize Visa Options

1. Tourist Visa

Allows short-term visits for tourism, business, or exploration purposes. Visitors from certain countries, including Bangladesh, require a visa to enter Belize. The visa is typically valid for 30 days and can be extended at an Immigration Office within Belize .Belize

2. Employment Visa

For individuals officially hired in Belize, conducting consultation visits, or representing overseas companies. Applicants must provide proof of employment and meet specific requirements set by the Immigration Department .Belize

3. Student Visa

Issued to individuals enrolled in primary, secondary, or tertiary institutions in Belize. Applicants must provide proof of enrollment and meet other criteria established by the Immigration Department .Belize

4. Long Stay Visitor Permit

Allows stays up to six months for individuals employed outside Belize with a minimum annual income of USD $75,000 (USD $100,000 with dependents). Applicants must provide proof of income, employment, and health insurance .Belize

🏠 Belize Residency Options

Temporary Residence

For individuals investing at least BZ$500,000 in Belize. Applicants must provide evidence of investment, proof of residence, and other supporting documents. Temporary residence is valid for one year and is renewable .Belize+1Belize+1Belize

Permanent Residence

Available to individuals who have legally resided in Belize for at least one year, with no more than 14 days outside the country during that period. Applicants must demonstrate financial stability and submit various documents, including medical and police records .BelizeBelize+1Belize+1

💼 Digital Nomad Visa

Belize offers a Digital Nomad Visa for remote workers. The initial visa is valid for one year at a cost of USD $1,000, with renewals at USD $500 per year. Applicants must provide proof of employment, financial statements, health insurance, and a police report .Belize+2Reddit+2Belize+2

📄 Application Process

Applications can be submitted online or at Belizean diplomatic missions abroad. Required documents typically include a valid passport, proof of financial stability, police records, and health insurance. Processing times vary depending on the type of application

Discover what makes Belize so Unique.

Discover what makes Belize so Unique

If you pulled a random person off a random street throughout the world, it’s likely that they couldn’t tell you anything meaningful about Belize. But this Caribbean country is quietly becoming not just a popular tourist destination but also a highly in demand destination for westerners looking to retire to paradise. There are plenty of reasons for that. Here’s what makes Belize such a unique place to visit and such an idyllic place to live.

Live Like Royalty

The generous exchange rate with many other developed countries ensures that Americans traveling to Belize — as well as plenty of other travelers — can live comfortably in Belize for what would be a pittance elsewhere. Both real estate and goods and services tend to be generously priced in Belize, and a couple can comfortably have a good time in the country for just $1,500 USD a month. Add in the historical stability of the Belizean dollar, and you have nothing to worry about.

Among People as Friendly as They Are Diverse

Belize was once a critical part of the Maya Empire and was later colonized by the British, but the ethnic and cultural mix of locals extends to far more than these two groups. Mestizos, Afro-Caribbeans, and other diverse racial groups from the region call Belize home, but there are even more exotic locals here as well. There’s a decent population of families from Chinese descent here as well as Mennonites from Canada. But no matter who you run into; you can be confident communicating since English is the national language.

And Explore Both Land and Sea

Given how cheap and easy to communicate Belize is, it would be a waste not to jump headfirst into the natural beauty of the country. And while the 400+ islands and Belize Barrier Reef are a tantalizing draw in their own right, any visitor deserves to see the caves, ruins, and jungles that are so abundant in the interior. It’s these endless opportunities for adventure and excitement that draw many foreigners to live here permanently.

Or Just Kick Back and Enjoy Yourself

But the simple fact of the matter is that things move slower in Belize. The bounty of the sea and the beauty of the environment ensure that all the essentials are met for the people of Belize, and that means having the luxury to actually sit back and soak in the world around you. Taking it easy is the expectation rather than the exception here.

No matter where you’re looking to buy property in Belize, Hesed Realty is equipped to provide you with the exceptional care you deserve. We have specialized agents throughout the country who can each give you the lay of the land and provide you with the precision information you need.