Great Tax News for Investors!

The old Transfer Tax rate for property purchases was 15%. This means if you bought any property in Belize you would have paid 15% of the purchase price in Stamp Tax. Even in a country with no Capital Gains Tax this proved burdensome to investors. Well, no more! 5% is the new rate.

What does this mean? Let's say you buy a condominium for $240,000.00US. Under the old rate your tax liability would have been 15% of that, or a whopping $36,000.00US. Under the new rate your tax liability will be just $12,000.00US. If it still seems like a lot, bear in mind that in 3 years when you sell your condo for $350,000.00US for a profit of more than $90,000.00US...YOU KEEP EVERY PENNY. No Capital Gains tax, remember?
Belize has suddenly become very friendly again for potential investors in real estate!

For more in on buying in Belize and in particular Ambergris Caye, please drop us a line to

homes@totallyflorida.com