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#406066 - 04/24/11 06:47 PM Buying rental properties?
jaxjags64109 Offline
Wanting to be respectful of both local laws and customs, I have a question. My wife and I have started discussing the possibility of moving to Belize. I am aware that in order to work, paid or unpaid, requires a work permit.

We see advertisements for properties for sale that include rental units, "house for sale with studio apartments currently rented" type listings. If an American citizen was to purchase this type of property there would be income from the rentals. Is a work permit necessary in this situation? Thanks for your help.

Not sure if this was the best forum for this post but the goals is living in Belize so I took a shot.

Edited by jaxjags64109 (04/24/11 06:48 PM)

#406070 - 04/24/11 07:10 PM Re: Buying rental properties? [Re: jaxjags64109]
SnoopysMom Offline
I suppose it would depend upon the size of the property.

If you are an onsite manager / caretaker or "actively running" the apartment complex, you would be required to possess a work permit.

Income tax would be yet another consideration.

#406071 - 04/24/11 08:00 PM Re: Buying rental properties? [Re: SnoopysMom]
jaxjags64109 Offline
Thanks for the reply. We have been looking at some places that include anywhere from 2-3 rental units as well as an owners house. Nothing very large and not a lot of income I would guess. Any ideas about whether this type of situation would enable someone to get a work permit application expedited, or maybe some type of temporary authorization to accomodate this circumstance?

#406083 - 04/25/11 08:37 AM Re: Buying rental properties? [Re: jaxjags64109]
There are so-called "expediters" that will help you get your paperwork, make the runs to Belmopan, etc. Typically they are (or were) connected with the Government but these are becoming less useful as time goes on. It's really not difficult, time consuming, or onerous to get a work permit and by doing it yourself you'll get a better appreciation for how the Government works and get to see a bit more of the country.

#406087 - 04/25/11 09:05 AM Re: Buying rental properties? [Re: jaxjags64109]
elbert Offline
C2C I agree doing it yourself makes good sense expediters are usually ripoffs, especially when you can just walk up and ask for the application.
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#406089 - 04/25/11 09:32 AM Re: Buying rental properties? [Re: ]
jaxjags64109 Offline
Thanks for the response. Good advice about learning the ropes by having the experience. Is it advisable to get the work permit prior to making a purchase or should we buy and maybe use a property mgmt. company until the permits are in place?

Edited by jaxjags64109 (04/25/11 09:33 AM)

#406093 - 04/25/11 09:48 AM Re: Buying rental properties? [Re: jaxjags64109]
If you're sure this is what you want to do, I wouldn't worry about the timing too much. Apply for your work permit ASAP and you should be OK.
There are a thousand ways to interpret the law. For example, if you hire a property manager that's your employee and for that you need a work permit. If you really want to be safe, don't rent until you have the permit in hand. I doubt you'll miss more than a month's income and you can use the time to spruce the place up.

#406094 - 04/25/11 09:54 AM Re: Buying rental properties? [Re: jaxjags64109]
Tie One On Offline
I am no expert in this but here is how I understand it working in your situation.
You can buy the rentals and live here under 30 day extended visas and run the place while you are under way of getting the work visa.
If you plan to buy the rentals prior to moving here and renting them out also prior to moving here, you would not need the work permit yet since you do not reside in the country, but as soon as you reside in the country with rentals (income) you will need to adhere the work permit.

Like I said, I am no expert but this is how I understand the law for work permit in the case you are describing.

#406145 - 04/25/11 03:52 PM Re: Buying rental properties? [Re: jaxjags64109]
kmsqrd Offline
Jax-you might read this. Maybe this person can help answer your current question and maybe some not yet asked. I have no connection with this person, just picked this up on another post.

Edited by kmsqrd (04/25/11 03:57 PM)
"Earth is an insane asylum, to which other planets deport their lunatics" Voltaire

#406170 - 04/25/11 09:56 PM Re: Buying rental properties? [Re: kmsqrd]
jaxjags64109 Offline
Thanks for the replies. I assume working with a reputable real estate agent will allow the agent to share knowledge about how others have done this same thing. I believe the plan will be to move down and rent while looking for the property to call home, so we can start the application process before the purchase is made.


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