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#253801 - 02 November 18 7:43 am - America/Chicago Proceeds from Sale of Real Estate
robles Offline
Member

Registered: 14 June 13
Posts: 42
Recently in the news from San Pedro , Consolidated Water was having ongoing difficulty repatriating profits back to its home country outside of Belize. It would appear out of frustration they sold the company to the Gov't of Belize to enable to get back their capital.
https://www.sanpedrosun.com/business-and...-out-of-belize/

On sale of real estate in Belize has there been any problems getting sale proceeds out of Belize? Alternatively, can sales occur where a trust account proceeds are handled out of country eg. US to avoid this problem

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#253839 - 12 November 18 6:53 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
Habeneros Offline
Full Member
*

Registered: 02 August 12
Posts: 79
might be that they where incorporated in Belize and the company was liquidated without settling corporation Tax! I have heard that property sales proceeds need central bank clearance but I have not tried to get this confirmed. Might be part of the global anti tax avoidance regime!

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#253840 - 12 November 18 8:13 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
ElDorado Offline
Junior Member

Registered: 17 July 06
Posts: 21
Loc: Belize
I recently tried to spend US$1000 on some US shares. I was told by my bank that the Central Bank wanted to see me in person before they would authorise the wire.
I found I could use my credit card to get around this. Turned out it was cheaper too.

It seems capital controls have quietly been put in place, probably to retain as much foreign currency as possible. While this is sound policy for Belize it is going to throw a spanner in lots of works and provoke further hostility from the US gov.

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#253842 - 13 November 18 11:27 am - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
Habeneros Offline
Full Member
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Registered: 02 August 12
Posts: 79
I would suggest its more to do with anti money laundering and tax evasion! If you do not need to bring money into Belize don't!

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#253847 - 15 November 18 8:38 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
robles Offline
Member

Registered: 14 June 13
Posts: 42
Thanks for your input. I don't understand if you show audit trail why it is an issue for anti-money laundering. I wish it was clear to what he capital controls were in place so it wouldn't scare away investment with the fear of the unknown

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#253850 - 16 November 18 9:10 am - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
Habeneros Offline
Full Member
*

Registered: 02 August 12
Posts: 79
many people around the world pay cash for real estate and then sell it and bank the money! There are those who have bought using belie companies and also tax haven countries. To prevent criminals and tax evaders might be the central bank check every transaction and reports via the FATCA agreement! Belize has been used as a transit country for drugs to the usa and much of that cash was used to build condos on ambergris caye so as to clean it up! Sell drugs use the cash to pay a local builder to build a condo block then sell the condos to americans who pay money into a bank, cleaned money! There is very little to audit! I could even tell you which condo blocks are built from drugs, of course I have no intention of doing so, I want to live!


Edited by Habeneros (16 November 18 9:13 am - America/Chicago)

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#253872 - 27 November 18 12:28 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
DrMexico Online   content
Member

Registered: 18 March 18
Posts: 62
Loc: Merida Me
Having a peaceful life with your partner has nothing to do with buying property in a Banana Republic. It has to do with mutual respect, communication, shared goals, interests and values and if you are a male in a heterosexual union, to realize that women are always right. No exceptions.

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#253884 - 29 November 18 12:10 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: robles]
xyogazen Offline
Junior Member

Registered: 04 November 18
Posts: 3
Loc: Los Angeles, USA

Belize is a paradise that is a great opportunity to own your own piece of paradise in a peaceful area and Belize is now becoming one of the most attractive property markets in Central America for retire homes. there is no licensing regime in Belize for real estate agents at present, so buying property in Belize should be careful. Considering to Hire an attorney to review the purchase of property in Belize is your best assurance to avoid problems.

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#253885 - 29 November 18 1:18 pm - America/Chicago Re: Proceeds from Sale of Real Estate [Re: xyogazen]
DrMexico Online   content
Member

Registered: 18 March 18
Posts: 62
Loc: Merida Me
^

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#253896 - 05 December 18 3:26 am - America/Chicago Re: Proceeds from Sale of Real Estate [Re: ]
DrMexico Online   content
Member

Registered: 18 March 18
Posts: 62
Loc: Merida Me
^

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