Belize – Business and
Tax Friendly Jurisdiction
Advantages of Forming a Company in Belize
Availability of free zones providing facilities for manufacturing and other business activities, such as warehousing, packaging, distribution of products and services
Well developed financial services industry
Well developed professional infrastructure
No foreign exchange restrictions for IBC
Stable political system with long history of peaceful and democratic development
The country is not blacklisted by FATF and OECD
Information about Belize
Information about beneficial owners, shareholders, directors, and officers are not filed with the Belize government and not available to the public.
Belize national currency is Belize Dollar (BZ$). It has a fixed exchange rate with US Dollar, which is US$1.00 = BZ$2.00
US Dollars are widely accepted by most businesses in Belize.
There are currency exchange and transfer of funds controls in Belize if it’s an included entity as per the Economic Substance Act. Companies are permitted to repatriate all profits, dividends and management charges.
Belize IBCs may open a bank account in any country.
Close proximity to members of NAFTA creates ideal conditions for establishment and development of Belize Free Zones.
Commercial Free Zone (CFZ) at Corozal
CFZ is located right beside the Mexican border. It has facilities suitable for manufacturing, packaging, distribution of different kind of products, and services.
All businesses located in the CFZ have 10 years tax holiday. They pay income tax from 2% to 8% thereafter. Employment of local residents decreases the tax rate by up to 2%. All imported and exported products, materials, and supplies are exempt from any customs duties, quotas, etc.
There are three EPZs in Belize:
The San Andres EPZ is located close to the border with Mexico.
The Philip Goldson International Airport EPZ and;
The Price Barracks EPZ are situated close to Belize City
Companies who get approved with EPZ status by the Ministry of National Development obtain rights to conduct business in EPZ. Such companies are exempt from all taxes including income tax, withholding tax, and capital gain tax for 20 years.