One of the most common mistakes is assuming licenses transfer automatically with the sale.
If you are buying a hotel or tour company, the Belize Tourism Board (BTB) license does not transfer. You must apply for a new license in your own name or your company's name before you can legally operate. 4. Structuring Your Purchase buying a business in belize
Buying a Business in Belize: A Practical Guide for Investors One of the most common mistakes is assuming
Always use a reputable Belizean attorney to handle the title search and sales agreement. Expect rigorous "Know Your Customer" (KYC) requirements
Opening a local business bank account can be one of the most time-consuming parts of the process. Expect rigorous "Know Your Customer" (KYC) requirements. 5. Residency Through Investment
For more detailed insights on the ground, resources like The Belize Real Estate Insider provide expert advice on the nuances of the local market.
However, buying an existing business is a complex process that involves more than just a real estate transaction. Below is a guide to navigating the essential steps and potential pitfalls. 1. Understanding Ownership Rights