Belize

Why invest in Belize?

Belize (formerly British Honduras) is a scenically beautiful, independent country, which provides the three main elements sought by international investors:

Stability: long-standing, democratic tradition; independent judiciary, exchange rate fixed for 25 years.

Profitability: flexible fiscal incentives and concessions, Commercial Free Zones, Export Processing Zones, Repatriation of profits and dividends.

Confidentially: Belize’s law has provided provisions to make certain that the freedom of the individual and the sanctity of private commercial transactions are available.

The government of Belize is fully committed to the ongoing development of Belize as a leading offshore jurisdiction. Furthermore, Belize is strategically located next to Mexico and Central America, near the US and the Caribbean islands, rich in natural resources with a stable and supportive economy, bilingual workforce and established infrastructure.

General Information

 

Population

The total population of Belize is approximately 321,000 of which some 70,000 live in Belize City. The population of Belize is ethnically diverse and includes descendants of the original Mayan culture and people of Caribbean, Caucasian, Chinese and East Indian descent.

Political Structure

Belize has a long history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement.

Belize is a parliamentary democracy and constitutional monarchy, which recognizes HM Queen Elizabeth II as head of state represented by a Governor General who must be a Belizean national. The National Assembly is composed of the Senate and the House of Representatives, the Senate has 12 members and the House of Representatives comprises of 29 members, directly elected at intervals of no longer than five years. The prime minister and cabinet have executive power.

There are two main political parties; both parties are committed to the economic development of the country and the encouragement of overseas investment.

Currency

The national currency of Belize is the Belize Dollar (BZ$).

Bank System

Belize has five commercial banks, not including offshore banks. Three are based in Belize – Alliance Bank, Belize Bank and Atlantic Bank — and two, First Caribbean Bank (formerly Barclays) and Scotia Bank, are large multinational banks with branches in Belize.

Company Law

The International Financial Services Commission (IFSC) is the governing body that licenses, regulates and oversees the offshore industry. In 1990, Belize enacted the International Business Companies Act (Belize IBC Act), which is designed to meet the needs and imagination of refined international investors across the world.

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