If you are planning to invest in real estate overseas, then Belize is a great country for you to consider. Why? Because there are lots of outstanding Belize real estate tax incentives available to you if you purchase property here. In addition, if you are a retiree, then you are covered by the qualified permanent residence law, which allows you to retire to Belize tax-free.
There are a number of other tax incentives available to you with proper guidance. For example, opening a personal savings account in Belize has tremendous benefits when paying property ownership costs. In addition, consider purchasing a property under an Offshore Self-Directed IRA LLC. By doing so, you can enjoy lower fees and taxes on capital gains. This will maximize your personal income on any real estate investment that you make in the country of Belize.
It is also possible for you to write off the amount of money that you spend on the repairs and maintenance; as well as the travel associated with real estate purchase on your tax return. If you are renting out your property, you can also write off travel costs associated with managing it. For example, if you own two properties in the country, and one is rented out while the other serves as your vacation house, then the income that you have earned from renting one of your properties can cover the costs of the other. And all of your personal travel costs could be deducted on your tax return.
To sum it up, there are outstanding tax incentives for owning real estate in Belize. Investing in real estate here is a solid investment for most. And did we mention that Belize is a beautiful place to live? Let Belize Property Partners be your guide to making a real estate investment in Belize that will accomplish all of your personal and financial goals. Contact us today for more information or to schedule a visit to Ambergris Caye, Belize – one of the most attractive islands in the world for retirees and real estate investors.