Previous Thread
Next Thread
Print Thread
Real Estate Purchase Question #540241
01/25/20 08:07 AM
01/25/20 08:07 AM
Joined: Oct 2017
Posts: 7
Trinidad, Colorado, USA
Does anyone know, or can anyone cite a reference to the following:

Purchasing property in Belize, goes thru the purchase with closing in Belize with a payment arrangement. Buyer makes payments, and now when trying to transfer title is being told they need to "create a Belizean company" to transfer the property title; as the payments on the property were made to an account outside Belize?!

All duties and transfer cost were made at the original closing - just want the title transferred now the transaction is complete. Seems if there's no capital gains tax on the Seller, and the Buyer paid the DUTY STAMP for the property - why would it matter where payments were transferred?

I'm also thinking - if the payments outside Belize were an issue, it wouldn't matter if the Buyer was a Belizean company or otherwise?!

Just trying to get title transferred - and need to learn the scope. As would have a tremendous NEGATIVE impact to land purchases in Belize if such restrictions are being imposed - and the ENGLISH law is transferring to MEXICAN law.

Re: Real Estate Purchase Question [Re: PHELANSR] #540243
01/25/20 10:58 AM
01/25/20 10:58 AM
Joined: Mar 2006
Posts: 1,822
South Ambergris Caye
JZB Offline
JZB  Offline
My advice is to speak with Alberto at Belize Caye Investments. They have a clear grasp and understand on dealing with Real Estate closings and the Central Bank rules.

Re: Real Estate Purchase Question [Re: PHELANSR] #540246
01/25/20 12:20 PM
01/25/20 12:20 PM
Joined: Oct 2001
Posts: 6,150
San Pedro AC Belize
Diane Campbell Offline
Diane Campbell  Offline
Hi Phel .....

Indeed it would be a good thing to discuss your particular situation with a transfer agent and get the nuances clarified. There is no requirement to form a Belizean company in order to take title, although there could be good reasons to do so in your own transaction. This is not Mexico, thank goodness, but the banking issues we face as a consequence of US policies about currencies can be a headache. Nobody wants to complicate things on this end ......

Here are some basics on the subject of Central Bank approvals:
Transfers from foreigner to foreigner do not need Central Bank approval.
Transfers from Belizean to Belizean do not need Central Bank approval..
Transfers where there is one Belizean and one foreigner do need Central Bank approval. Said approval is contingent upon funds having come through the local banking system.

Portofino Resort- Now with a new BEACH BAR!!
Click for excellent scuba lessons with Elbert Greer!
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
Maruba Beach Klub and Spa is the premiere Secret Beach spa and restaurant located on the crystal blue waters of the Caribbean Sea at the center of Secret Beach, Belize
First Class Accommodations for the Budget Traveler

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater
San Pedro Fun Finder
Paradise Guy Event Calendar
Cayo Event Calendar

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Belize Happy Adventures
Conch Creative
Caribbean Culture & Lifestyle
More Blogs...
Search thousands of Belizean-only websites
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Click for Ian Anderson's Caves Branch, Welcome to a World of Adventure
Lil Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
ShoutChat Box
Who's Online Now
0 registered members (), 396 guests, and 0 spiders.
Key: Admin, Global Mod, Mod
Forum Statistics
Most Online2,982
Jan 29th, 2019 HELP! Visitor Center Goods & Services San Pedro Town Message Board Lodging Diving Fishing Things to Do History Maps Phonebook Belize Business Directory Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.

Powered by UBB.threads™ PHP Forum Software 7.7.1