Property for Sale in Belize, Central America

Belize is renowned as one of the easiest countries in Central America for foreign buyers. There are no restrictions on noncitizens owning property, no capital gains taxes and low property taxes. The country operates as a member of the British Commonwealth, with English as the primary language, and the Belize currency is fixed 2 to 1 to the dollar, providing a measure of stability to the money market.

While there are no restrictions on foreigners owning land, local experts say it pays to know some of the local twists:

• Before a sale can close, the buyer has to pay a transfer tax, also known as the stamp tax, usually about 5 percent of the property's value. The good news: Recently the tax was lowered from 15 percent.

• You really should appoint a lawyer when considering purchasing real estate in Belize to run title searches on your proposed purchase and you should also ask your lawyer to do the full research necessary to find out about any restrictions on the property.

• Take extra care in choosing an agent. "There is no licensing requirement, no educational requirement," said Gil Carlson, co-owner of the ReMax franchise on Ambergris Caye. "You can be a bartender or a taxi driver one night and selling real estate the next day."

• When it comes to a condo, it is better to find one with an owner-owned condo association rather than an outside management company

If you are considering purchasing in Belize you can be comfortable in the fact that Belize has a long history of private property ownership rights.