AmbergrisCaye.com Home Forums Belize Life Living in Belize New timeshare law

TIMESHARE NOTICE



A Bill has been introduced for an Act to regulate timeshare sales and accommodations activity in Belize. "Timeshare" is defined to include timeshare interests, membership vacation clubs, fractional interests, membership residential clubs, and other right-to-use time sharing plans.



The proposed Act stipulates that every developer appoint an escrow agent and that all closings be conducted through the escrow agent - meaning the deposit of funds and the execution of documents. Also, all payments of and accountings for the Act's proposed six percent (6%) occupancy tax are to be made through the escrow agent.

Hopefully this new bill will restrict how far time share sales people can run after newly arrived tourist. Tourist find it difficult to escape while still carrying their luggage. :rolleyes:

They should be chained to a pole with a 2 foot chain. And must work during carnaval

...on a fire ant mound!!!!

Hotel tax is 9%. Why is the government subsidising time share sales and only charging 6%?

And what about GST? If a developer sells a condo they now have to charge/pay GST. Do time share sales have to charge GST?