You can now buy real estate in Belize with Bitcoin.
The use case for Bitcoin is going global and Belize is leading the way. Here’s how to buy real estate in Belize with Bitcoin and why you want to.
The first Bitcoin only real estate transaction closed in Texas in September 2017. Now you can buy real estate in Belize with Bitcoin or any major cryptocurrency.
If you think about it, Belize and Bitcoin are a great match. Belize is all about living life on your terms. Personal freedom is at the core of what Belize is all about. Taxes are low, government interference is minimal, and life is what you make of it.
Bitcoin was built on similar principals… privacy, security, and a bit of a pirate attitude. Yes, Bitcoin has gone mainstream, but it still has an edge.
And Belize is the perfect country to stash your coins. You can buy real estate in Belize with Bitcoin in a totally private transaction. When you buy real estate with Bitcoin, without going through an offshore bank, FATCA and reporting requirements don’t apply to the seller / broker. Thus, you can keep the transaction private.
I note that the United States IRS doesn’t require you to report foreign real estate held in your name. If you buy real estate in Belize inside a corporation, LLC or trust, you must report the structure. If you own the property in your name without a structure, you are not required to report the property.
Also, if you have an offshore bank account with more than $10,000 in it, you need to report that account on the FBAR. If you complete the purchase using Bitcoin, and never have an offshore bank account, you are not required to file an FBAR.
Plus, you can leverage your Bitcoin real estate purchase into a second residency and a second passport after 5 years. If you’re looking to plant flags abroad using Bitcoin, Belize is the jurisdiction to focus on!
As I said, taxes in Belize are low, very low. The capital gains rate when you sell your Belize real estate is zero… doesn’t get much lower than that. Plus, property taxes are reasonable. Property tax is assessed at 1% to 2% of the FMV. Also, in keeping with the spirit of Belize, these taxes can be negotiated.
If you buy rental real estate in Belize with Bitcoin, your tax rate should be about 3% on the gains. Belize has one of the lowest tax rates on rental income in the world and demand for rentals and Air B&Bs is high.
With the US government targeting Bitcoin transactions, now is the time to plant your flag offshore and protect your coins.
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