Buying Land in Belize

With its stable political and economic climate, Belize is a land of opportunity for the international investor.

With its stable political and economic climate, Belize is a land of opportunity for the international investor.

In the 1990’s the Belizean Government created a whole host of incentives to attract inward investment and to promote economic growth and since then they have strived consistently to encourage and enable feasible development activity.

As a direct result anyone interested in buying land in Belize for development and investment purposes and who adheres to the rules of the Minister of Natural Resources should encounter no problems from the Government of Belize whatsoever and will likely benefit from a number of attractive taxation holidays and duty exemptions.

When you consider the desirability of property in Belize and the fact that more people than ever are now considering moving to or retiring in this country thanks to the friendly taxation incentives, low cost of living and attractive lifestyle benefits, buying land in Belize for development purposes is an attractive opportunity.

For non-Belizeans to purchase land over half an acre in size in a built up area, or over ten acres in size in the countryside, permission and a license to purchase must first be sought from and granted by the Minister of Natural Resources.

When applying for the license to purchase it is necessary to submit detailed plans for the development of the land, unless of course the land has already been developed upon.  If the latter case is the situation then a license for development is still required but the purchaser is not obligated to further develop the land.  This means that significant parcels of developed land can be purchased and held for investment purposes.

As an alternative to this route it is possible to lease a parcel of land from the government and to have the right to later purchase the land if the development plans you hold for the land actually get put into practice.

When applying for a license to purchase it is worth noting that if you intend to later divide up the land further you have to have permission to sub-divide your particular parcel of land.  Such permission is also granted by the Minister of Natural Resources and if you’re buying land to build property in Belize, chances are you will want to further sub-divide your plot.

The Belizean Government is keen to attract any form of inward investment and development program that creates local employment, boosts the local economy, assists and increases exports and basically brings advantage to the economy and stability of Belize.  Therefore a developer who undertakes sympathetic development programs, employs local labour, builds well and attracts the inward investment of the subsequent purchasers will not be impeded or restricted by the government.

If you’re looking overseas for a unique property investment opportunity then you might like to consider buying undeveloped land in Belize, developing it and building property on it and creating a significant investment return for yourself whilst boosting the Belize economy and building many people’s dream home in this Central American paradise.