LAND SALE & PURCHASE
There are no limitations on ownership of lands by non-nationals in Belize.
Registration and Title
Belize has been replacing older tittles with a new type of Land Title available under the Registered Land Act Chapter 194. Under this new system an application for transfer is signed, and a new Land Certificate is issued to the purchaser. Under the old Deed of Conveyance System transfer of land was effected by registered deed of conveyance and registration by First Certificate of Title followed by Transfer Certificate of Title. Each of these systems has its own procedural steps which must be complied with. The new system is being gradually implemented and applied to all property wherever located in Belize. The Land Certificate is now replacing old Deeds of Conveyance and Transfer Certificates of Title.
Stamp Duty is a fee charged by Government to register title on sale real of property. The real estate transfer tax of 5% is due at closing and is calculated on the gross declared sales price of the property or, in the case of property being transferred at less than market value, on the actual value of the property as determined by the Government office of Valuation. There is no stamp duty due on the first US$10,000 of the sale
Property taxes: Property taxes vary depending on size and location of a property but are about 1.5% of the book value (NOT market value) of the undeveloped land, payable annually on April 1st of every year.