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Why invest in real estate?

The answer, one word: control. There is no other investment that offers both control over the aspects involved make money and keep it.

Many believe that investing is risky because you have no control over the assets in which they invest. There is very little control over savings, stocks, bonds and mutual funds.

CONTROL = LITTLE RISK      

People are concerned about job security because they have no control over their use. Few employees exercise some control over the property of the company, how many pay tax or the future of their employment.

In addition to control real estate offer many other advantages. Without adequate property purchase price, funded either, it’s in a good area and is well managed, the following advantages of real estate shall rejoice.

1. Cash Flow: cash is received each month.

2. Leverage: banks lining up to lend money to be investing in properties.

3. Amortization: tenants pay the debt.

4. Depreciation: the government offers tax shelters because the bins roots lose value, though, is not common to do so. Actually, the reason that the government provides incentives for depreciation is that real estate investor provide housing.

5. Creativity: the value of the property increases thanks to the creativity. For example, if you buy a plot of land you can change the zoning classification; or if you buy an old house you can remodel; or you can buy an apartment and sell it as individual condos.

6. Expansion: when learning to buy individual houses starts buying housing units.

7. Prediction: takes about a year to stabilize an apartment complex after buying it. After that year, management can get rid of bad tenants who wish to make renovations good tenants and slowly raise the rent.    Once the property is stabilized, checks start coming in like clockwork. This is certainly better than the vagaries of the stock market: feel good when prices rise and how bad fall.

The key to success in real estate in good administration in stocks, bonds and mutual funds is not successful in real estate, stems that are bad managers or will not be.

In SILBELIZE with our investment plan, we have a wide range of properties and professionals in our portfolio that allows us to advise and provide the best service to our customers.

Because good governance is the key to success in real estate, some of the best opportunities arise to buy properties whose owners were bad managers.

8. Deferred Taxes: One of the great advantages of real estate are deferred taxes. There are many way a real estate investor can legally avoid paying taxes indefinitely, where money can be reinvested without paying taxes.

The ability to defer taxes is not available to those who invest in stocks, bonds and mutual funds. You’d be surprised how fast you can get rich if you do not pay taxes.

What is goodwill?

Goodwill: As the dollar loses value, real estate tends to increase theirs. As the population increases, so does demand, which in turn raises prices.

Many investors invest for capital gains (capital gains). On the stock market, most try to buy low and sell high. This is to invest for capital gains. In real estate, these investors are known as flippers.

In real estate it is better to invest money flow of capital gains because the tax laws favor the investor in cash flow.

Why goodwill at last?

For most people go first. Many buy homes with the intent to sell. Those who do must work harder and pay considerably higher taxes.

Can you really own property in Belize?

Yes, absolutely.

In fact, foreigners are not only allowed to legally purchase property in Belize, the Belize government has gone to great lengths to make it safe and simple.

It is legal and 100% secure and we are here to guide you through each step.

How is it done?

You will own your slice of paradise in one of two ways: either through private ownerships, or through a Belize corporation

Can the Government take my Property?

Foreigners often worry about their land being expropriated by the Belize government. Belize may not directly or indirectly, expropriate property except for a public purpose (i.e. building roads). And only through a legal condemnation proceeding will this be possible. In the rare case where it is necessary to expropriate land, the government will pay swift and fair market compensation to the owner, together with accrued interest. This is the same process known as Eminent Domain in the USA, Compulsory Purchase in the UK or Expropriation in Canada.

Why buy through a Corporation?

Many investors choose to purchase property though a corporation if the intent is to conduct the investment as a business. This would be the case in situations such as buying and selling land, renting their property or when owning more than one property.

What is the cost to set up a Corporation?

Typically, an attorney will charge $1,500 USD to set up the corporation. Additionally, there is a fee of approximately $100 USD per month for accounting of the corporation.

Real Estate Company

The process of buying property in Belize will inevitably have no differences from what you may be accustomed to in the USA, UK and Canada just to name a few. That is why having the right people on your side is so important. Not only will it make all the difference in your experience, having a team of experienced, knowledgeable agents dedicated to guiding you through each step, ensures that you buy smart and buy secure. We at SILBELIZE pride ourselves on the personalized dedication we love to provide our clients. More often than not, we develop great friendships with our clients as we take them through to realizing their dream.

Why use an attorney?

We recommend using an attorney because we believe it is in your best interest. An attorney will represent you and protect all your legal transactions. The attorney will draw up contracts and review the terms and conditions of the sale. Legally, only a licensed Belize attorney should provide advice on the laws. Foreign attorneys are not licensed to practice law in Belize and should not give advice on Belize law.

Buyers Beware – A common story in Belize sometimes well-intentioned, but more likely unscrupulous people, will promise a better deal saying they have a friend or relative who can offer discounted costs and save you money. This is NEVER the case. Allowing inappropriate people to become involved opens the door to improper documentation. Having to go back and fix what was done incorrectly will end up costing you thousands of dollars as opposed to having an attorney represent and protect your interests from the beginning.

What purpose does an attorney serve?

In addition to representing your best interests and protecting your legal transactions, an attorney can be very helpful in saving you money. This is because attorneys are involved in many of the different transactions necessary and have contacts with banks, notaries and the Belizean government. They are aware of the most competitive costs and fees involved and make sure the buyer is given the best possible prices.

You will also receive your attorney’s advice on legal options to be sure no opportunities are missed, such as tax planning, closing costs that should be paid by the seller and ways of taking title. Very often one piece of good advice can save buyers thousands of dollars in tax or other savings when the buyer eventually decides to sell the property.

What are the Total Closing Costs?

• The buyer’s fees include the following:

• $1,500 to $3,000 USD attorney, closing fees

• 5% Stamp duty, real estate value, first $10,00 Excluded

12.5% General Sales Tax (GST)

Why retire in Belize?

Belize is a paradise of the Caribbean region, has one of the world’s best retiree programs. Through the Qualified Retired Persons (QRP) Program, the government gives qualified retirees an exemption from taxes on all income derived from sources outside Belize, whether such income is earned or passive, and whether or not it is remitted to Belize.

In this unbelizeable country your money goes further, you speak English, the weather is good for your heath, to many things to do and see in Belize, you enjoy the mother nature, the USD dollar is accepted as Belize currency, you like Belizeans, you love Belize time maybe not the most efficient but the idea is to take it easy, you can afford to live on the beach and you can reinvent yourself in Belize!

Why your Money Goes Further In Belize?

Belize is definitely not the cheapest place to live in. A tropical paradise with so many advantages does not come as cheap as other retirement areas such as certain Latin American or Asian countries. In fact living on a North American or European lifestyle here will cost as much or more. But resident expats here say they live more comfortably than back home. Retirement cheques, stocks and investment income, just appear to go further in Belize.

Services that are significantly more economical in this country include basic medical care, cable TV, household help, insurance, farm produce, sea food, property taxes, and yes, wine, song and so on. This tropical paradise produces and exports high quality rum made from locally produced molasses and cane sugar. In fact sugar is so cheap it is one of the rare local products smuggled out of the country into the neighboring republics. The other side of the coin is that gasoline, electricity, telephone, mobile phone and Internet access are more expensive. But you can always setup your own satellite dish and enjoy Internet access at near U.S. prices. And new wireless internet access services keep popping up offering reasonable Internet access giving the government owned Belize Telemedia Ltd, a run for its money.

Housing, depending on your taste can be significantly cheap compared to back home. Belize has a thriving Mennonite community that provides many services including pre-fabricated homes made from pressure treated lumber, local hardwood or industrial galvalum metal. For about U.S. $15,000. to $20,000. you can get a modest North American design three bedroom cottage pre-wired and complete with plumbing, transported and set up on your site.

If you prefer to rent, you can get a modest house for US$300-$500 a month, or build a new home for US$50,000 to $250,000. depending on size. Waterfront lots run from US $40,000 to $100,000. depending on location.

Belize has condos on the beach ranging from U.S. $99,000. to the multimillion dollar range.

Sample Budget For Expatriates Living In Belize On $1,500. Or Less

Spending needs are different for most anyone but here is a sample monthly budget in U.S. dollars for a couple living in comfort as expatriates in Belize:

* Rent or mortgage payment: $300.

* Car expenses: $250.

* Electricity, water, telephone, and Internet: $500.

* Groceries: $300.

* Health insurance: $50.

* Entertainment: $100.

For more detailed information you can read at your leisure, consider getting our ebook Living In Belize: How To Live, Work or Retire In a Tropical Paradise.

Why Belize is good for my health?

Its true. Living in Belize can make you feel and look better and actually improve your health. There are plenty of fresh fruits and vegetables grown locally ranging from bananas, oranges, grapefruit, soursop, pineapple, papayas, mangoes, noni, many grains and nuts not to forget fresh coconut water, free range chicken and eggs, natural grass fed beef – the list would fill a farming newsletter. Fresh fruit and unprocessed food are found aplenty in the local shops or at better prices on markets days.

Most towns have special market days – Tuesdays, Fridays and Saturday are the most popular. Wide open spaces mean that you can ride the car less and walk more.

You can spend much more time outdoors in the crisp, clean, unpolluted air rather than in an artificial climate-controlled office or residence.

You go home for lunch or take a siesta at mid-day. Arthritis, rheumatism and other aches and pains seem to melt away. Many folks who move to Belize report feeling better within a couple of weeks, perhaps due to a better diet, sunny clime or less stress. But of course you can easily have an unhealthy lifestyle in Belize — staying indoors, eating greasy Chinese fried chicken which unfortunately is cheap and plentiful, watch TV all day, binge drinking and not exercising.

What can I do in Belize?

The country may be small but its rich diversity of landscapes, cultures and as it is rapidly developing this makes for almost no end of things to do, places to explore, projects to plan and maybe even start a new business. If you are on a budget, you will find and be able to take advantage of specials that are offered on the off season. For example the two local airlines, as Maya Air often offer 10% off price airfare deals for cash only customers and these are often only announced locally.

Belize is a natural wonderland. It is home to thousands of species of trees and flowers, orchids, animals, birds exotic tropical fish and butterflies.

The cultural diversity of Belize is what attracts some many visitors again and again. If you are so inclined you can spend the rest of your life studying and learning the rich flora and fauna of the country. The culture and history of the Maya dates back thousands of years.

Outdoor activities include the gorgeous beaches and the majestic Barrier Reef, the wide open savannahs and mountains, countless caves – many yet undiscovered, the tropical rainforest, the many rivers and waterfalls, the Maya ruins and of course you can easily hop across the border into Mexico or Guatemala for entirely new horizons and things to do, see and explore.

Travel links to Mexico and Central America, once neglected, have been recently come under attention for development. The Mexican bus company ADO now does twice daily runs between Belize and the Yucatan Peninsula with destinations in Cancun, Tulum and Merida. These first class air conditioned buses are a great alternative to travel deep into southern Mexico for a change of scenery. Mexico and Belize are most connected now, that is one of the reasons we have our partner company in Mexico, another wonderful destination www.silmexico.com Check it out!

In the west, the highway on the Guatemala side is now completely paved and a new bridge is now open. This makes a once bumpy trip to Tikal, Rio Dulce in Guatemala and Guatemala City a more enjoyable journey. In the south, a new highway is almost finished to link the south with Guatemala.

Does the U.S. dollar is accepted Belize currency­?

The BZ Dollar still bears the image of the Head of State – Queen Elizabeth II. With independence the Belize Dollar has sprouted some indigenous symbols such as various local flora and fauna as well as nationalistic symbols and landmarks. But the U.S. Dollar is accepted everywhere – coins are not.

You can pay for most anything in Belize with your U.S. Dollars except, and we are not making this up, government offices or for any government transaction. A government that is perennially short of foreign exchange does not accept U.S. dollars at any government cashier, for e.g. the courts, the post office and so on – that is unless the clerk on duty wants the foreign exchange and accepts it and then pays in the Belize Dollar equivalent out of his or her pocket.

But apart from this, any other business establishment, be it the gas station, your local grocery or supermarket will welcome your U.S. Dollars. The BZ Dollar has been pegged at the rate of two BZ Dollars for One U.S. Dollar for decades. Thus for those who bank in U.S. dollars prices remain stable as the value of the Belize Dollar does not float.

What about Belizean time?

Government offices are supposed to be opened for business at 8 a.m. sharp but apart from the Post Office or city of town police station, you will not get much attention until 8:30, that is the essence of “Belize Time”. Government workers arrive by public transport at the town of their employment, then wonder around catching breakfast or doing errands before reporting for work. This can be irritating for some used to precision and deadlines but don’t let your pressure go up. Adjust to a slower more leisurely lifestyle. Be prepared for promises the job will be finished by Monday 8 a.m. Belize Time really means the job will be delivered Monday evening.

Which kind of property rights I have in Belize?

Belize law is based on British Common Law, just like the legal systems in the U.S.A. and Canada. Certain countries in Latin America and Europe base their legal systems on the Napoleonic Code, a system difficult for North Americans to grasp. You will not have that problem here.

The country’s legal system is far from perfect and lawyers just like back home are not cheap. Caveat: beware of what you read in publications put out by foreign writers claiming to be Belize experts. Here like in most countries, squatters or the government can take your property – if you abandon it for a while. Squatters who settle unmolested on a property for 20 years can claim the land. And the government can take away your land if you are a scofflaw or forget to pay land tax. But these are rare cases and who would abandon their property for twenty years or fail to pay the ridiculously low property taxes?

Anyone, including foreigners, enjoys the same property rights under the Belize Constitution. And there are no restrictions on foreigners owning land in any part of Belize, and that includes water front properties. In fact one local newspaper did a study and believes more than 60 per cent of Belize’s beach front property is owned by foreigners or absentee landlords.

How much cost to live on the beach in Belize?

Prices are going up like everywhere but you can live on the beach for about one third the cost of doing this in North American. You can buy a beachfront lot in Belize for between U.S. $30,000. to $100,000. – depending of course on location and access to amenities. Lots one street or two behind the beach front can be had for about half the cost of beach front.

Construction costs for a strong concrete structure capable of withstanding most any storm range from between U.S. $40. to U.S. $80. a square foot – shop around. Your mileage may vary.

A recent article in the AARP, American Association of Retired Persons Magazine, quotes from one of their members: After many visits to Belize, Atlantans Walter and Terri Fisher, 55 and 49, built a “concrete ranch house” with a water view for $125,000, including the lot. “The house was finished in 2007,” Walter reports. “Last year we sold our house in the U.S.A. got off the corporate treadmill, and moved here. I drove down in my truck on my own, and Terri and five cats flew down. We’re completely happy.”

What is the QRP Program?

You don’t have to be retired, or even of retirement age, to take advantage of this program. However, you must be at least 45 years old, and be able to show that you have adequate resources to deposit a monthly income of $2,000 or more per month, and comply with several other minor requirements. To keep your QRP status you must spend just one month of the year in Belize.

The regulations state that you must show a pension or other regular income. In reality, if you can demonstrate that you have adequate savings to transfers $24,000 per year, the Belize Tourist Board has accepted that approach, since many expats do not have pensions but do have IRAs/401Ks. You can also make a single $24,000 deposit a year or make it in monthly installments.

In addition to tax benefits, qualified retirees can import their personal and household goods as well as a car, boat, and plane, without having to pay import duties or taxes on those goods that they import in to Belize during their first year as a QRP resident.

QRPs are considered non-residents for purposes of banking, meaning they can set up a U.S. dollar bank account with a local or offshore bank in Belize. QRPs are also allowed to engage in gainful employment as long as most of their business activity takes place outside Belize and is conducted exclusively with non-residents of Belize. This is especially important for expats who wish to maintain a consulting business from their second home in Belize. QRPs are also allowed to own a business in Belize. It is best to talk to a qualified attorney if you are thinking of doing this.

How is the heath care in Belize?

If you’re considering a visit or a move to Belize, rest assured that most minor ailments can be treated quickly—and cheaply—at doctor’s offices and clinics that can be found in all but a few remote areas. People who suffer from serious conditions can be taken to private clinics such as Belize Medical Associates (www.belizemedical.com) or Belize Health Care Partners (http://belizehealthcare.com). Both of these facilities offer excellent services and costs are still very reasonable. Belize does have a number of public hospitals but most expats prefer to use the private clinics.

But since all these facilities lack the quality care of hospitals in the U.S. and neighboring countries, some many expats leave Belize for more complicated types of medical treatment. Many American retirees, for instance, return home for a few days whenever they want to take advantage of Medicare. Some expats also go to Chetumal and Merida, just north of the border in the Mexican state of Yucatán, and to Guatemala City and Antigua in Guatemala.
Expats in Belize also have the option of returning to the U.S. for health care and, in cases of emergency, to rely on evacuation coverage provided by an international health insurance policy. Evacuation coverage is particularly important because an ambulance flight can easily cost $15,000. If you’re prone to health problems, you should consider this option. Information on medical services is available from the U.S. Embassy in Belmopan, Tel +(1)501-227-7161, though the embassy staff doesn’t recommend doctors.

Officials do, however, urge Americans with existing medical problems to carry a letter from their physician that describes the condition and lists medications, including the generic name of drugs prescribed for the problem. To avoid the possibility of problems with customs officials, always keep medications carried abroad in their original containers that are clearly labeled. It’s also important to complete the information page in your passport with the name, address, and telephone number of the person to contact in the event of an emergency.

Pharmacies in Belize are well stocked, and prices for medicines seem comparable to what you’d pay back home. Health care in Belize in general is extremely affordable–a few dollars for a visit to a doctor’s office and about $15 a day for a hospital stay.

Why invest in Belize?

The government of Belize aims to provide an enabling environment for private enterprise, to attract investments in Belize by both local and foreign investors. A series of legislation was enacted in the early 1990s to allow for a range of incentives for those looking to invest in Belize. The conditions to qualify for the different incentives vary, as do the investment incentives themselves–e.g., a tax holiday, or import duty exemption, or a combination of both. Benefits, however, are dependent upon the type of incentive awarded to the potential investor.

Export-oriented activities, which lead to increased employment, and the development of local, technological infrastructure, are particularly favorable to the authorities. The government supports joint venture and partnership investments as a preferred mechanism, however it also allows 100% foreign ownership of an enterprise. Importation of highly skilled personnel to compliment the Belizean labor force is facilitated providing that appropriate training programs for nationals are established. Generally, the government hopes to see one local counterpart assigned for every skilled foreigner employed by the company.

Does Belize benefits from trade agreements?

Belize benefits from trade agreements with several developed countries. These include:

  • Preferential market access to the Caribbean Common Market (CARICOM)
  • Preferential treatment from the U.S. under the Caribbean Basin Initiative (CBI)
  • Under the Lomé IV Convention it has duty-free access to the EU for certain commodities such as bananas and sugar
  • Certain Belizean goods enter Canada duty-free.

Which one are the Government of Belize’s Investment Incentives?

The Belize government offers a number of incentives to attract inward investment. These include:

  • 100% foreign ownership of land and company assets
  • Encouragement of joint ventures with local entities
  • Special incentives for retirees.

Why take a tax holiday?

The Fiscal Incentives Act 1990 relates to tax holidays and duty.
The tax holiday period shall normally be for a five-year duration from the date of production. However, there is a provision that the Minister for Economic Development can, on application by the company, in a fit and proper case, review the company’s operations and renew the tax-holiday period for a further term not to exceed 10 years.

In addition, a company that is engaged in agriculture, agro-industrial products, mariculture, etc. whose operation is strictly for export, and is highly labor intensive, can receive a tax holiday of up to 25 years. Incentives under this particular clause in the Act also allow exemption from income tax under the Income Tax Act, including the repatriation of profits and dividends.

The Act allows duty exemptions to companies that are granted an Approved Enterprise Order (Development Concession) to import items into Belize, free of import duty, and revenue replacement duty. Such items include: building materials, plants, machinery, equipment, specialized tools, utility and transport vehicles, fixtures and fittings, office equipment and appliances, spare parts for plant, plant-related machinery, agricultural machinery, and any raw materials, or other items for the sole use of the approved enterprise.

The duty exemption period is for up to 15 years, with a potential extension of 10 years, subject to ministerial review. Several factors are considered when looking at an extension proposal: local value addition, profitability on investment, foreign exchange earnings or foreign exchange savings, creation of employment, transfer of new technology, location of industry, destination of the final products, and level of investment.

In addition, Belize enjoys the stability of a long-standing, democratic tradition, and has an independent judiciary. The country’s exchange rate is now fixed for 25 years. Repatriation of profits and dividends is the norm here.

Does Belize benefits of Export Processing Zones?

For certain types of businesses, Belize’s Export Processing Zones (EPZs) provide substantial benefits to investors. Investors who take advantage of EPZs are often in the business of tourism, agriculture, mariculture, distribution, and light industry.

For Belize, the benefit of these free-trade zones is a way to encourage foreign trade and investment.

For investors, the advantages include:

  • Exemption from import and export duties as taxes on capital gains, property, sales and consumption, trade turnover, foreign exchange, and transfers
  • An “/countries/belize/taxes/”>income tax holiday of 20 years with an option to extend and deduct losses from profits following the period of the tax holiday
  • Dividend tax exemption in perpetuity
  • The opportunity to open foreign currency bank accounts in Belize and abroad
  • Exemption from the Supplies Control Act and its regulations
  • In addition, EPZs aren’t burdened with restrictions on raw materials or export licensing requirements.

How is the cost of living in Belize?

Though Belize isn’t the cheapest country in the Western Hemisphere, it takes less to live well in Belize than in most places in the U.S., Canada, or Europe.

Here’s a sample monthly budget for two people:

  • Rent (an unfurnished house): $400

Utilities:

  • Electric (without air conditioning): $80
  • Water: $25
  • Butane gas (for cooking and bathing): $25
  • Cable TV (100 Channels): $20
  • Internet with landline ($500 deposit plus installation): $80
  • Groceries: $150 to $300
  • Entertainment (dining out and other activities): $200 to $400

Household help:

  • Maid (about 50 hours a month): $130
  • Gardener (about 50 hours a month): $130
  • Incidentals: $175

Monthly total:   $1,415 to $1,765

*Prices as of 2013

Why invest in over Real Estate?

International real estate may be the best possible way for investors to amass a fortune over the coming decade. In times of great change and flux, the returns can be stratospheric. Supply, you see, can’t be turned on like a tap. It’s finite in the case of land.

With real estate, you can invest a relatively small amount of money to control a large asset. In parts of north-east Brazil for example, I’ve seen the value of some condos increase by 60% in two years. Better still, you could control this condo over the two year period with an investment of just 20% of the purchase price.

Real estate is also a great way to protect hard-won capital. Your asset is real, productive and has a use. You certainly can’t print any more of it. Historically, land has been one of the best hedges against inflation and turmoil. People will always need somewhere to live. Price bubbles may come and go… and come again. Meantime, your real estate always retains an intrinsic value.

Today, the best real estate opportunities are outside of the US. The great growth phase of the US economy is over (for now at least). Investors are concerned about where growth will come from, the security of their investments, and the value of their paper assets.

Things are different outside America’s borders. There are real growth opportunities. In fact, there’s a full spectrum of opportunities to profit. These range from high-growth frontier markets…to overseas powerhouses such as Mexico and Belize-check out our portfolio WWW.SILMEXICO.COM, WWW.SILBELIZE.COM places so cheap that they represent true long-term value.

Think about what this means: a surge in demand for these categories of real estate. We know from what we have seen elsewhere that this means prices should rise— as should the income you derive from these assets. There has been a flood of money into the stock markets of these new powerhouses. Some markets seem expensive. Yet prices of real estate may not reflect this. You can bet on these powerhouses effectively at a lower valuation.

Buying international real estate has five major advantages right now:

  1. You retain control. You can buy, sell, rent, or develop, according to your schedule and your requirements.
  2. You can generate a cash flow in another currency. This is a great way to diversify your portfolio towards appreciating currencies such as the Brazilian real.
  3. It’s a great inflation hedge. Real estate is better than just cash flow in another paper currency. It’s a hard asset. That means it retains a value independent of any paper currency’s nominal value.
  4. Real estate has multiple uses. Land you buy can be used for agriculture or forestry while you wait for the people, the tourists or industry to come. The new middle classes in China, Brazil and India are eating more meat (which means more land is needed to grow feed such as corn). They also need wood for construction and furniture in their new homes.
  5. Real estate investing is fun. Your real estate investment can double as a personal retreat, part-time residence, or vacation getaway. You can enjoy it while it’s appreciating in value…generating rental returns…and safeguarding your net worth.

Why should I consider a property investment in Belize?

Beyond the fact that Belize is a paradise, here we give you some more reasons the land title system that is very similar to UK, USA or Canada, there are not restrictions on foreign land ownership, no capital gains tax, no inheritance tax, property taxes are a fraction of what they are in Canada or USA, the asset protection through creation of IBC (International Business Company) is very similar to Bahamas offshore company. Our specialists will help you to recognize the best investment for you!

What are the visa and entry requirements?

Not required VISA for stays under 30 days. Just keep in mind that currency in excess of $10,000 Belize/USD$5,000must be declared

Can I apply for Belizean residency?

You must live in Belize for one full year before you can apply for regular permanent residency. During this period, you cannot leave the country for more than 14 consecutive days. This requirement can be waived for retirees with a regular source of income, and investors with more than US$25,000 in hard currency to invest

What are typical construction costs?

Labor in Belize is much less expensive than in the U.S., with skilled workers receiving around US$35 a day and up. On average, construction costs range from between US$40 and US$75 per square foot with costs in the islands often exceeding US$85 per square foot. Of course, the costs depend of the type of construction.

Is Belize a safe country?

There is no nationwide advisory in effect for Belize. Despite Belize’s fairly recent history as a British colony, it’s still a developing nation. While crime doesn’t seem to be directed towards tourists in particular, the U.S. consulate says crime in touristy areas like San Pedro on Ambergris Caye is higher than in others, but the Government is understanding the importance of security to attracting foreign investment and has established a special tourism police in areas most frequented by tourist. Belize is definitely a country where a little common sense goes a long way.

Does Belize offer off-shore banking services?

The legislation enables the country to evolve into a leading Caribbean offshore banking jurisdiction. This legislation has drawn on the more progressive features of offshore banking legislation existing in tax havens such as Panama, Cayman and the British Virgin Islands.

Do hurricanes affect Belize?

Hurricanes reach the shores of countries, such as Belize, with the help of easterly trade winds and temperate westerlies. Fortunately, the presence of the barrier reef helps to reduce the strength of extremely powerful waves that accompany hurricanes, decreasing the impact experienced on the shoreline. Hurricane insurance is widely available in Belize.

Can pets and animals be brought into Belize?

Dogs and cats can be brought into Belize without quarantine! The import rules to Belize are rather simple; it is just the flights and finding the right airlines that may pose the biggest problem. Animals must be accompanied by an International Health Certificate that states that they are free from infection/contagious disease and that they are fit and safe to fly. This must be issued by a government approved veterinarian not more than 48 hours prior to shipment; animals must also be certified as having been vaccinated against rabies not less than one month nor more than six months prior to departure. Belize officials also mention that your pet must not have any visible or open wounds on them. If you are moving your dog to Belize, you must have a valid certification of vaccination against distemper, parvovirus, infectious canine hepatitis and leptospirosis. Animals may be required to be re-vaccinated against rabies on arrival if certifications are deemed unsatisfactory.

Can I rent out my property when I am not using it?

Contact SILBELIZE VACATION RENTALS, our specialists will help you to get your ROI.