In the end, you’ll likely pay about 18% in closing costs. In addition to the 2% to 3% that attorneys charge, there’s a stamp duty (transfer tax) of 15% as well as fees to register the property in your name. Real estate taxes in Belize are very reasonable—about 1.5% of the property’s assessed value, payable annually.

What you’d likely pay, including the first year’s property tax, to close on a $100,000 purchase:

• Legal fees (2.5%): $2,500
• Title insurance (0.5%): $500
• Land-transfer tax (15%): $15,000
• Other fees (registration, etc.): $425.