Belize is one of the most dynamically developing offshore-
Belize offers the following advantages for international businesses:
Exemption from all local taxes for international business companies
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
Strict secrecy low, which prohibits disclose of banking and financial information
Common law legal system based on English law
Excellent telecommunications system
Easy access to the NAFTA members Mexico, USA and Canada by land, sea and air
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
Independent country, member of well recognized political organizations, such as of the British Commonwealth, United Nations and Organization of American States.
BUSINESS NAME REGISTRATION:
Definition of a Business Name means the name or style under which any business is carried on, whether in partnership or otherwise. (a.k.a Trading Name)
FORMATION OF A 250 COMPANY:
Definition of a company is A legal entity, allowed by legislation, which permits a group of people, as shareholders, to apply to the government for an independent organization to be created, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money
BELIZE FREE ZONES
Such 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 business 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.
Export Processing Zones (EPZ)
There are three EPZ in Belize. The San Andres EPZ is located close to the border with Mexico. The Philip Goldson International Airport EPZ and Price Barracks EPZ are situated close to Belize City.
Companies approved by the Ministry of National Development receive EPZ status, which gives them 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
Another account believes the early settlement of "Belize in the Bay of Honduras" grew from a few habitations located at Belize Town and St. George's Caye into a de-
Taking advantage of Spain’s inability to establish control over present-
Hurricane Hattie inflicted significant damage upon Belize in 1961. The government decided that a coastal capital city lying below sea level was too risky. Over several years, the British colonial government designed a new capital, Belmopan, at the exact geographical centre of the country, and in 1970 began slowly moving the governing offices there.
British Honduras became a self-
In 2005, Belize was the site of unrest caused by discontent with the People's United Party government, including tax increases in the national budget. On February 8, 2008 Dean Barrow was sworn in as Belize's first black prime minister.
CAUTION: Deposits in Belize banks are not protected by deposit insurance, as they are in the U.S. and in many other countries. All of your deposits are at risk should the bank fail.
Belize Bank has 12 ATMs around Belize that accept foreign-
You can use these ATMs to tap your bank accounts back home, although you will get cash in Belize in Belize dollars. Alliance Bank (the name is expected to change soon) has ATMs but at present do not accept ATM cards issued outside Belize.
Banking hours are shorter in Belize, typically only until 2 p.m. most days, and in other cases banks close for lunch. Most bank offices have modern conveniences such as ATM machines. While bank personnel in Belize are usually very friendly – this is Belize, after all – you can’t always say the same about bank policies, especially for loans. Loan interest rates are high. Even as the U.S. prime rate was down to 4%, Belize banks were getting 10% to 18% or more on business loans and even higher on some personal loans. And the hidden fees and charges can add several percentage points to the loan interest. Modern consumer protection laws haven’t all made it to Belize yet.