Legal & Regulations

STAMP DUTIES (AMENDMENT) ACT, 2024
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Legal & Regulations, News

STAMP DUTIES (AMENDMENT) ACT, 2024

In December 2024, Belize enacted the Stamp Duties (Amendment) Act, 2024, introducing significant changes to the existing stamp duty regulations. This legislation aims to provide financial relief to individuals and organizations by adjusting stamp duty rates and expanding exemptions. Key Amendments: Mortgage Stamp Duty Adjustments: Exemption for Smaller Mortgages: Mortgages valued at $100,000 or less are now exempt from stamp duty. This change is designed to make homeownership more accessible for Belizeans. Reduced Rates for Larger Mortgages: For mortgages exceeding $100,000, the stamp duty rate has been set at 1.5% on the amount above $100,000. Additionally, assignments, transfers, reconveyances, releases, cancellations, discharges, or surrenders of such mortgages are subject to...
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BMA FIRES BACK IN COURT DRAMA
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Legal & Regulations, News

BMA FIRES BACK IN COURT DRAMA

Mini Real Estate Tycoon, Boris Mannsfeld & Associates Belize Real Estate (BMA) has locked horns with former employees in a case that’s making waves across the Belizean business community. BMA filed an emergency injunction after their former general manager, Frik Demeyere, allegedly shut down their website, rerouting BMA’s valuable client inquiries to his new venture, Prime Belize Real Estate. Edit: Belize Real Estate News was able to confirm Boris's claims with a simple DNS history lookup. It stands to warrant BMA's claims that there is indeed foul play by Frik De Meyere and his rebranded self "Prime Belize Real Estate" - DNS report showing first registry change being detected on the 30th of May 2024 pointing towards primebelize.com NameServers BMA’s trusted digital presence of...
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Immigration: Changes to Retirement Program makes Belize even more attractive!
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Legal & Regulations

Immigration: Changes to Retirement Program makes Belize even more attractive!

The recent changes to Belize's Qualified Retired Persons (QRP) Program have introduced several significant updates that could impact current and potential retirees considering the country as their retirement destination. Belize's favorite YouTuber Will Mitchell, sat down with Simone Bell - BTB's Investment and Innovations Specialist & Romy Rancharan - BTB's Retirement Specialist, to give us an update on the new QRP changes. Key Changes to Belize's Retirement Program Lower Age Requirement: The most notable change is the reduction in the minimum age requirement to qualify for the QRP program. Previously, applicants had to be at least 45 years old, but this has now been lowered to 40. This change aims to attract a younger demographic of retirees or those with early retirement pl...
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New Building Rules in Belize
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Legal & Regulations

New Building Rules in Belize

Hold on to your hard hats, folks! The Central Building Authority has released the Belize Building Regulations, 2022, and it's packed with new rules! First up, let's talk about the new power players in town: the Technical Managers. According to the new regulations, these managers need to be either architects or civil engineers—no weekend DIYers here! They must be well-versed in Belize's building codes and ready to tango with all regulatory bodies. Their job? To supervise building inspectors and respond to all building applications within a shocking 14 business days. Talk about pressure! But that's not all! If you thought you could scribble some sketches on a napkin and call it a day, think again. The regulations are crystal clear: building plans must be in English, use a specific font...
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Two Associations Merge for Ultimate Power Move!
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Legal & Regulations

Two Associations Merge for Ultimate Power Move!

Belize's two powerhouse Real Estate Associations have decided to unite under one banner in a merger that’s set to change the industry forever! This merger, hailed as the ultimate unifying move for the sector, has everyone talking! Hugo Moguel, the President of AREBB, dropped a bombshell today, declaring this merger a milestone in the industry's growth, boldly calling it the “industry's maturation.” The highly-anticipated move, years in the making, got a major thumbs-up from none other than the office of the Prime Minister! Today, both association presidents met at Belmopan's Sir Edney Cain building to sign a groundbreaking Memorandum of Understanding, birthing Belize’s one and only unified Real Estate Association. Hugo Moguel, President, AREBB, was buzzing with excitement:"This ha...
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