Conduct a title search of the property records at the Lands Department
Agency: Department of Lands and Survey Office
A title search is carried out over the past 25 years concerning the history of the property to check that the property does not have any liens or outstanding taxes. This title search is a legal requirement for property transfers in Belize.
Time and cost: 1 day, BZD 100
Tax clearance stamped on the transfer instrument
Agency: Lands Tax Department
The tax clearance is proven with receipts and a stamp from the Lands Tax Department on the actual transfer instrument.
Time and cost: 8 days, no charge
Obtain tax clearance from the Lands Tax Department
Agency: Lands Tax Department
Tax receipts up to the current fiscal year are obtained at the Lands Tax Department. If the property is to be transferred before the fiscal year ends, the seller may pay the property taxes up to that date, and then the buyer agrees to reimburse the seller either through the sale price or aside.
Time and cost: 1 day, no charge
Obtain a certificate of good standing and a certified copy of the most recent director’s list
Agency: The Belize Companies Registry
If buyer or seller is a local company (Cap. 250), it will also be required to present a certificate of good standing and a certified copy of the most recent director’s list issued by the Belize Companies Registry at the time of filing the registration at the Belize Lands Registry. Both certificates are obtained from the Belize Companies Registry.
Time and cost: 1 day, BZD 24 (BZD 14 for a certificate of good standing, BZD 10 for a certified copy of the most recent director’s list)
Property is valued by the Valuation Department
Agency: Valuation Department
The Valuation Department determines if the sale price in the transfer instrument is the real value of the property. The Valuation Department assesses based on actual rental value, and any factors influencing the value such as location, the condition of the building, type and size, architectural design, parking area, garage or other buildings on the property. The valuation process may consist of checking the value listed in the valuation ‘Roll’ or physically inspecting the property. The Valuation Department will issue a receipt stating how much they have assessed, which is presented at the time of payment of stamp duty.
Time and cost: 20 days, no charge
Justice of the Peace attests the transfer instrument
Agency: Justice of the Peace
The Government made available a transfer form online at http://www.belize.gov.bz. The form has to be either notarized (for a fee) or attested by a Justice of the Peace. Most people choose the latter option as it is free of charge. The Justice of the Peace will check the identity certificates of the buyer and the seller before signing the transfer form.
Time and cost: 1 day, no charge
Pay registration fees and stamp duty
Agency: Lands Registry
Registration fees and stamp duty are paid to the cashier at the Lands Registry. To pay stamp duty, the receipt obtained from the valuation department (Procedure 5) is presented and 5% of the assessed value after the first BZD 20,000.00 is charged.
Time and cost: 2 days, BZD 22,505.05 (BZD 15 x 2 (for land certificate and registration) + Stamp duty 5% (property value after the first BZD 20000))
Register the transfer at the Lands Registry
Agency: Lands Registry
There are three systems of land registration operating in Belize:
- The property under study by Doing Business is located in Belize City and is most likely under the Registered Land Act, whereby transfers occur by Land Certificate. In this case, the land certificate would need to be transferred at the Lands Registry in Belmopan and would take about 3 – 4 weeks to process and receive a new certificate.
The documentation required in this case is:
- Receipts of payment of registration fees and stamp duty (obtained in Procedure 7);
- Transfer instrument (obtained in Procedure 6); and
- Proof of identification of the parties.
- Other properties may be under ‘deed of conveyance’ or ‘certificate of title’, in which case the transfer process would be slightly different.
Time and cost: 25 days, (paid in Procedure 7)
Notify City Council of the change of ownership
Agency: City Council
The City Council updates the property tax records to reflect the new ownership. Since 2007, with the introduction of the “Land Folio” system, changes in the Land Registry are automatically communicated to the City Council. However, the new owner still has to go to the City Council to register the property transfer.
Time and cost: 2 days, no charge
