Land in Belize:
Facts on Land
Non-Nationals of Belize must obtain from the Minister of Natural Resources, license to purchase or hold land in excess of half an acre (1/2) in the cities or towns or ten acres (10) outside cities or towns.
The applicant for a license must submit to the Minister a PLAN FOR DEVELOPMENT with respect to the specific parcel of land which he or she proposes to acquire. In the case of land which already is developed, a license will be required but there will be no development obligation under this license.
Land can be leased from the Government of Belize with an option to buy if the planned development indicated at the time of the application is carried out. Land in general has a (1%) tax on the unimproved value of the land.
If a property is being sub-divided for sale, a subdivision permit must be obtained from the Minister of Natural Resources.
The cost of transfer of title to real property is the first 20,000 deducted and then you pay 5% on the balance amount of value for Stamp Duty and a token fee for registration. Attorney's fee is additional.
Unless there an agreement to the contrary these cost are usually shared between seller and buyer.
Although all mineral rights are vested in the Government, mineral exploration licenses and mining leases are obtainable through the Ministry of Science, Technology and Transportation.
All artifacts, whether found on private or public property, must be declared to and registered with the Archaeological Department.
The Government of Belize has given its assurance that any bona fide developer will encounter no problem in obtaining a license provided that the developer is prepared to carry out reasonable amount of development during the term of his license.
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