I have heard that new construction on Caye Caulker requires a building permit. Is this true, and if so what is the cost and time frame to acquire a permit. Also..... if a person is just remodeling using the same footprint, are permits required.?

If a person(foreigner) buys a home or existing business on Caye Caulker,do they need a work permit to do work on their own property. If so; is this law enforced to the letter, and what would the consequences be if they got caught?.

I think technically you need a building permit for remodels. I guess it might depend on the amount of remodeling being done. I have a friend that put up a fence in a hurry in order to get it done before the new requirements went into effect.
From what I understand there are only a couple of "inspectors" for the entire country and they are dealing with the bigger projects going up. By using local labor and contractors you would lessen the chances of getting a complaint about the work going on.
I don't think there are any requirements for having a work permit while working on your own property.
There are a bunch of "I thinks'" in this post but in reality I'm not sure there is anyone with a firm answer about the building permit issue.