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.