About Belize – Why Belize?
Belize is one amazing place. It offers world-class natural wonders, political and economic stability, extremely friendly people, a safe destination and a destination to be enjoyed by generations. Come visit us as soon as you can and we are sure you will not be disappointed.
When considering other destinations for a real estate purchase consider these points about Belize:
- English is the official language of Belize. You will be able to review all your due diligence documents (title, rental income figures, tourist information, etc) and all purchase documents (contract, title, home owner associate agreements, etc) on your own. You can make your own decisions and not be 100% relying on a third party. Being able to communicate openly with the local residents will allow you to make new fiends quickly, travel and live easily and enjoy your new country much better. In Placencia locals and foreigners intermingle without any issues. This, in our opinion, is primarily due to the possibility for everyone to openly and easily communicate.
- Foreigners receive title to all property including beachfront. You have the same property rights as the locals. In many countries such as Mexico and Costa Rica foreigners are not allowed to hold title to beachfront property.
- Belize remains a member of the British commonwealth alliance and the United Nations. British common law is followed. Security, Stability and opportunity for your investment.
- Currency stability. One Belize dollar is permanently fixed to equal $US 0.50. All real estate is purchased in US dollars. The value of your assets is much better protected than in other countries.
- Tax incentives. Belize does not have a capital gains tax or inheritance tax. Property taxes and income taxes are extremely low. Business tax incentives also offer an opportunity. Under the Belize Fiscal Incentives Act of 1990, enterprises approved by the Belize government may be granted tax holidays of five, ten, twelve, or fifteen years . Under this act, foreign nationals may repatriate 100% of their investment and profits, provided they register with the Central Bank of Belize.
- Well-established offshore banking system. Belize provides the savvy investor many options to create an offshore corporation and offshore bank accounts to better manage and secure assets. Legislation has been passed many years ago to make Belize an ideal offshore jurisdiction. These include: the Retired Persons Act which offers certain tax exemptions and incentives to qualified retired persons and the International Business Company Act which provides for the establishment of limited life companies. Belize is now considered the offshore jurisdiction of choice for many foreign investors.
Contact Boris Mannsfeld & Associates for additional information. We do much more than talk about the many benefits of Belize; we walk the walk and will be happy to share our experiences with you.