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Taxes in Belize

With the World Economy today, more governments globally are snooping on citizens and more courts are seizing property, Belize sets itself apart being one of a dwindling number of safe tax havens where you can still ensure privacy and protect your assets.

In the early 1990s, the Government of Belize consulted with professionals in Guernsey and several other top safe havens before drafting legislation that would enable Belize to achieve similar status.

Legislation included the International Business Companies Act, the Trusts Act, and the Offshore Banking Act, all of which have moved Belize to the forefront of the international financial service jurisdictions. Moreover, to attract retirees from other countries, Belize also adopted a "qualified permanent residence law," which allows retirees to enjoy a tax-free lifestyle.

Individuals and companies establishing themselves in Belize are finding a government committed to privacy and a no-tax system. These advantages, combined with an English-speaking population and laws, make Belize one of the world's top tax havens--a truly safe locale for your money.

Income Tax in Belize

As a non-national, you will be charged income tax on income you generate in Belize. It's taxed at a rate of 25%. For residents, the first $10,000 in annual income is exempt, but, unfortunately, this exemption does not apply to non-residents. Since 2001, all foreign income is exempt from personal and business tax, as is all pension income. Qualified Retired Persons (QRPs) receive certain tax advantages.

Real Estate Tax in Belize

On the transfer of real estate, everyone in Belize pays a 5% transfer tax; this is usually paid by the buyer. If you are a resident under the Qualified Retired Persons incentive program, the 5% on non-citizens is waived.

Property Taxes in Belize

Belize's property taxes vary but are between 1% and 1.5% of the value of the undeveloped land. In Belize, property taxes outside cities are based on land value rather than the developed value of the property, to encourage development. Property taxes on homes and other developed land even in cities are low. There is NO CAPITAL GAINS TAX in Belize.