There are countless reasons to invest in Belize but here are the top 10 reasons:
1. Location Location Location: Located in the centre of the Americas, Belize provides the advantage of easy access being only a 2 hour flight to the United States. South and Central America are just a short flight away as well and it serves as a bridge to the markets in Europe.
2. Openness To Trade: Many countries in the Caribbean have preferential access to some of the largest markets in the world. Belize is no different and benefits from trade agreements with several countries including;
- Preferential market access to the Caribbean Common Market (CARICOM)
- Preferential treatment from the U.S. under the Caribbean Basin Initiative (CBI)
- Under the Lomé IV Convention it has duty-free access to the EU for certain commodities such as bananas and sugar
- Certain Belizean goods enter Canada duty-free.
3. The Government of Belize’s Investment Incentives: The Belize government offers a number of incentives to attract inward investment. These include:
- 100% foreign ownership of land and company assets
- Encouragement of joint ventures with local entities
- Special incentives for retirees.
4. Take a Tax Holiday: The Fiscal Incentives Act 1990 in Belize offers companies tax holidays lasting up to five years, extendable to 10 years upon ministerial review. Specifically, certain labor-intensive export-focused sectors can obtain a tax holiday for up to 25 years. The Act also provides duty exemptions for approved enterprises on various items for 15 years, extendable based on criteria like employment creation and profitability, alongside offering political stability and repatriation benefits.
5. Belize’s Export Processing Zones: Belize’s Export Processing Zones (EPZs) incentivize foreign trade and investment by granting investors exemptions from import/export duties, capital gains, and property taxes for 20 years, with options for extension. Additionally, EPZ investors enjoy perpetual dividend tax exemptions and the ability to open foreign currency bank accounts, while facing no restrictions on raw materials or export licensing requirements. These zones target sectors like tourism, agriculture, and light industry, making them attractive hubs for international business activities.
6. Modern Infrastructure: Electricity and water supply is constant and affordable as is telecommunications and broadband internet access.
7. Economic and Political Stability: Belize is known for its stable democracy and economic development. This provides the assurance of a secure place to live, raise families and conduct business.
8. Unprecedented Growth In Tourism: Belize enjoys a 20% yearly growth in its tourism industry and a whopping 85% of cruise ships make a stop in Belize – more than any other Caribbean nation. One cruise ship company recently announced the purchase of an entire island just off Placencia and have a $50 million US development budget. Belize is universally considered one of the top 10 scuba diving destinations in the world with a coral barrier reef second in size only to Australia running its entire coastline.
9. English Is The Official Language: Belize is the only country in Lain America where this is the case
10. Laws Are Familiar: The system of law in Belize is based on the British legal system and therefore familiar with North Americans and Europeans.
There are many web sites providing quality information about Belize. One of the best is Belize Retirement Guide.