Belize is a democratically elected independent nation.
English is the official language of Belize,
(It was known as British Honduras until independence in 1976)
but most of the population also speaks a creole patois, and many Belizeans are multilingual.
Within Belize, Corozal Town has a reputation as one of the best places to settle. The Corozal area has:
- Character – an cosmopolitan mix of Mayan, Mestizo, Creole, Mennonite, East Indian, Chinese and North American cultures.
- One of the largest expat communities in Belize.
- Close proximity to Mexican shopping with US style malls, movie theatres, great prices and restaurants.
- An airport –Mayan Air offers direct flights to Belize City, San Pedro, Placencia, Punta Gorda and Savannah
- Low Real Estate prices compared to other districts.
- Quality of life – offering low cost of living, high safety, good infrastructure and services.
- Ferry access to San Pedro and the fishing village of Sarteneja
- Electricity from Belize Electricity Limited (BEL) is available on the subdivision.
- Solar panels are affordable and common. See SESB or ProSOLAR
- Digital cellphone access is inexpensive and nationwide via BTL.
- Internet is available via Belize Telemedia Limited (BTL), Smart, and Beeline
- Existing Fiber optic lines are on the nearby Consejo Road already, will require community demand to install in the village.
- Clear, unpolluted water can be tapped from underground cenotes in each block. The rainfall each year is 60 inches, so the supply is effectively unlimited.
- Belize is now ranked as the top Central American country for expatriates and investors.
- It is also a Caribbean country, with the second largest coral reef in the world.
- Facts about Belize are all available on the TravelBelize website.
- Belize has English as the national langueage, meaning all legal documents and transactions with the government are in English. Note, most people also are fluent in Spanish/Spanglish/Creol.
- You can tell a place is safe when the local population walk around Corozal Town at night on their own, and street vendors, mostly women, sell their delicious food after dark.
Why invest in Belize real estate?
People are interested in buying real estate in Belize for different reasons.
Common ones are:
- Retirees moving to Belize looking for a home to buy or build.
- Investors looking for some capital gains taking advantage of inexpensive land and properties available in the country (regardless whether they want to obtain Belizean Residency or continue living abroad)
- Foreigners (primarily North Americans) are looking to buy a vacation property to come here during colder season back home and “unwind” in a comfort of their own house, which can earn rental income for them during the rest of the year.
Real estate here is affordable and easily acquired by non-residents.
Belize is part of the British Commonwealth and unlike its Central American neighbours is one of the few the countries in the world where foreigners enjoy the same rights as citizens with regards to property ownership in land ownership and tenure.
All land purchases are subject to a Government Stamp Transfer Tax, which currently is a 5% to 8% of the purchase price.
If you are interested in buying a home or land in Belize as an investment opportunity, an important incentive would be there is no capital gains tax in Belize.
The same applies to selling this property later for a profit, your profits will not be taxed.