 General
Belize (formerly British Honduras) is situated in Central America, on the Caribbean coast, south of Mexico.
In 1964, Belize became autonomous before gaining independence by becoming a Commonwealth member state.
Its economy is based on agriculture, forest exploitation, fishing and tourism.
Belize's development is definite. The professionalization of the players in the financial circuit will reassure those wishing to form companies and safeguard their property. International commerce is also made easy.
In the very near future Belize is set to become a major player in the formation of offshore structures and trusts sector.
Business Card
- 25 financial establishments.
- Banking secrecy.
- Major opportunities for the acquisition of nationality and residence.
- Population 2004 : 272,945 inhabitants
- Annual growth rate : 2.385%
- Surface area: 22,965 km²
- GDP/inhabitant: 5,690 $US
- Life expectancy : 67.43 years
- Official language: English, but Creole, Spanish and Maya are also spoken.
- Currency: Belizean Dollar.
- State: Unitarian, parliamentary monarchy.
- Main cities: Belize City, 58,861 inhabitants and Belmopan, the capital city, 10,000 inhabitants.
Banks
There are numerous banks. There is also a relatively new central bank which succeeded the Monetary Authority of Belize.
Tax
Apart from this tax on salaries, there is no other tax on individuals in Belize, apart from a modest stamp duty on property transfers.
The supplies of services made to non-residents are also exempt, on condition that they are not made in Belizean dollars.
Companies
Forming a company : Since the sixties, Belize's government has recognised the need to create legislation which favours the installation of companies within the territory. The current fiscal exemptions are defined by the 1990 Fiscal Incentives Act. Candidate companies must receive an approval from the Ministry of Economic Development entitled the "Approved Enterprise Order" or even a "Development Concession".
When they obtain these approvals, the companies assume the name of "approved enterprises".
International Business Company (IBC) : In Belize, International Business Companies benefit from the 1990 International Business Company Act.
The formation of companies can be undertaken with numerous advantages and for the following notions: Companies for withholding duties or the assembly of payment structures for independent workers (ideal for artists, creators, inventors, and sports people).
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