Belize Policies and Incentives
The Government of Belize fully realizes the importance of ensuring a healthy investment climate in order to attract investments by both local and foreign investors.
It allows full ownership in real estate and has also incorporated a qualified retired persons program.
All retired persons over 45 years of age can qualify for the following incentives, provided they can demonstrate permanent and consistent income from investments, pensions or any other form of retirement benefit in the amount of US $ 2,000 monthly:
- All income and receipts are tax exempt.
- All personal effects are exempt from import duties and taxes while establishing initial residence in Belize (including car, boat, plane)
Belize has enjoyed consistently long periods of both economic and social prosperity. The country’s currency has been pegged to the US dollar since 1976, bringing enhanced stability through low inflation. Socially, Belize enjoys good relations with its neighbors (Guatemala and Mexico), and enjoys a two-party democratic system modeled after a blending of the United States and United Kingdom governmental systems.
Today, Belize is a country of slightly less than 300,000 inhabitants.
Belize’s major revenue generators today are:
- Agriculture and agro-processing
- International financial services
- Manufacturing (furniture, construction materials, wood and paper products, etc.)
The United States and the United Kingdom are Belize’s two largest trading partners for tourism as well as goods and services. Belize has experienced consistently high levels of economic growth over the past three decades, including GDP growth of 2.9% in 2015 (source: www.worldbank.org/en/country/belize). The government has focused on bringing investment into Belize through incentives, commercial free zones, export processing zones, and easy repatriation of profits and dividends (source: Beltraide: Belize Trade and Investment Development Service).