English Speaking: The only English-speaking country in Central America.
Stability: Long-standing, democratic tradition; independent judiciary, exchange rate fixed to the US Dollar ($2.00BZE = $1.00US) for 25 years.
Profitability: Flexible fiscal incentives and concessions, Commercial Free Zones, Export Processing Zones, Repatriation of profits and dividends.
Livability: Friendly people, subtropical climate, virgin rainforests, unspoiled beaches and home of the largest barrier reef in the northern hemisphere.
Belize is truly is one of "Mother Nature's Best Kept Secrets" and today its doors are open to all who dream of building a new future with new experiences.
With a stable political and economic climate under democratic rule, Belize is a land of opportunity for the international investor. Unlike any other place in Central to South America, English is the official language of Belize. As you can imagine, with contracts and negotiations all being in English, navigating the purchase process or simply communicating clearly becomes a much more efficient and comforting experience.
Belize is a thriving offshore center with some of the most beautiful natural landscapes in the world and affordable and desirable real estate in abundance. Property prices in desirable parts of Belize have been steadily increasing in value for the past 25 years! This means that whatever you buy you are almost assured a great investment return.
Belize has a long history of private property ownership rights. Foreign buyers are able to purchase real estate in Belize unrestricted, meaning they have the same rights to own freehold property title deeds as a Belizean so there are no special permissions or permits required. Whether you’re a local or a foreigner, the Government of Belize collects a Transfer Tax fee of 5% of the purchase price whenever title is transferred from one owner(s) to the next. What makes this even better is the fact that Government has established a whole host of incentives to promote investment, specifically foreign investment, through developer benefits and less restrictive development criterion. There is no capital gains tax and no inheritance tax in Belize, therefore if you sell or will your property in Belize you or your beneficiaries will not suffer taxation upon the disposal of your Belizean real estate asset(s).
Belize prides itself in providing schools with high academic standards, good health care facilities, historic homes, convenient local shopping and most importantly warm and welcoming neighbors. So, if you’re looking for that perfect escape from the rat race or the next big destination in terms of global property hotspots, Belize is it.
Note: For anyone purchasing property in Belize, we recommend retaining the services of a local attorney to ensure proper and prudent guidance throughout the purchase process. A local attorney can run a title search, guarantee clean title and maintain a transparent process. In Belize, attorneys remain trusted advisors who are usually well-connected, well-paid pillars of the community and who wield real power. Attorney fees are negotiable and not all that different from what you would pay in a small city in the U.S.
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First of all, English is the official language of Belize; the only Latin America English speaking country. The schools teach in English. All the signs are in English, as well as government forms. If you have traveled much in foreign countries where you didn't know the language, you'll recognize this as a tremendous plus, especially if you are planning on living in Belize rather than just vacationing for a few weeks. So many translation problems are eliminated even though 'they' say communicating with the people in Belize takes little more than just a warm smile.
Nestled in the Yucatan peninsula on the Caribbean coast between Mexico and Guatemala, Belize is merely 200 miles south of beautiful Cancun, Mexico, and less than 100 miles east of the famous Tikal Ruins of Guatemala. Belize is a short flight from the Southern US. With major carriers such as America, Continental, US Airways, and TACA airlines offering several flights daily out of Miami, Houston, New Orleans, and Charlotte, travelers can inhale a deep breath of tropical air in less than 2 hours. The Philip Goldson International Airport (only international airport is Belize) has extended their runway to accommodate direct flights from certain European locations. In addition, there are regular flights from Honduras, Mexico, Guatemala, and El Salvador. If you are looking to make a scenic road trip from the US/Mexico border, then cruising down the east coast of Mexico would be about the distance from New York City to Miami. You can drive it comfortably in a few days.
The Belize Barrier Reef, the longest in the Northern Hemisphere, offers a paradise for fishermen, divers, and snorkellers. Hundreds of coral islands dot the 176 mile reef offering a haven for a variety of water sports. Inland Belize holds within its history a center of the Mayan culture with many archaeological sites throughout the country in various states of exploration. A major portion of the country is comprised of jungle and for the explorer, natural, untouched and protected wilderness offers spectacular adventure. The balmy, sub-tropical climate with a cool Caribbean breeze invites the tourist anytime of the year to visit the adventure coast.
There are a variety of accommodations from international hotels and guesthouses to inland resorts of thatched-roof cabanas as well as restaurants providing a wide range of cuisine.
Fringed along the south-eastern coastline peninsula of the Yucatan Peninsula Belize with its reputation of being one of the world's greatest diving destinations Is fast becoming known for its many fascinating ecotourism destinations.
Belize has a great subtropical climate. The average year-round temperature in Belize is a balmy 80 degrees Fahrenheit. There is no winter. No snow. No heating bills. The ocean water is a perfect 80-85 degrees Fahrenheit all the time. Because the reef makes the sea water calm and shallow, it's like stepping into an enormous bathtub.
Belize's warm and friendly people take pride in sharing their country and their heritage and welcome travelers worldwide to experience the best of the Caribbean and Central America in one location. You can enjoy a world of adventure on land or in the sea.
Explorers, pirates, shipwrecked sailors, and sea merchants all contributed to the diverse culture that modern day Belize has today. Belize's population around 260,000 boasts a 90% literacy rate and consists of Creole, Garifuna, Mestizo, Spanish, Maya, English, Mennonite, Lebanese, Chinese, and East Indian Ethnic groups. Racial harmony and religious tolerance are a way of life here, giving Belize a unique blend of friendly and congenial people, which is, by far, the country's greatest resource.
The life style in Belize is so healthy - fresh food, fresh air, lots of sunshine, lots out door activity, and no stress. Sounds like a prescription from the doctor, doesn't it?
Belize is also a place where big brother isn't looking over your shoulder and you can set your own building codes or choose to own a flock of chickens. It's a place where you can spend the day fishing without trying to keep up with the Jones's. It is no wonder why Belize has now become one of the hottest expatriate destinations in Latin America.
Belize truly is an opportunity to set your own pace and rekindle your spirit with a friendly people that still understand how easy it is to spread simple joy with the warmth of a smile or an unreserved greeting. Rediscover the meaning of shared community where respect for privacy does not require a theory of isolationism.
With a 90% literate work force, Belize is focusing in its human resources to develop new businesses like light manufacturing, telecommunications, tropical fruits and tourism. Tourism has recently become a big foreign exchange earner with increasing investments in eco-tourism resorts. To support this economic transformation, the government has placed new emphasis on education, with new training programs and degrees in everything from technical and computer operations to tourism management.
Pristine tropical and sub-tropical eco-systems assure Belize of a significant niche in eco-tourism. The number of tourists visiting the country has quadrupled since the 1980s reaching over 100,000 visitors in 1993. More than 60 hotels have been built since 1990, ranging from world-class luxury establishments like the Ramada Royal Reef to small and intimate family-run lodges and resorts. This trend is encouraged by generous government incentives for local and foreign investors interested in developing resorts and supporting infrastructure and services so long as they comply with the country's strict environmental regulations.
Telephone, telex and telefax communications to and from Belize are excellent and direct telephone dialing facilities are available in addition to internet and email services. A satellite earth station at the capital Belmopan provides high quality telecommunication service throughout the world. International courier services for express delivery are well established.
Belize has a familiar legal system that is derived from English Common Law supplemented by local legislation. The court system is also similar to that in England and contract and commercial law is based on the English law model. Belize is not a signatory to any agreement with other sovereign nations that would interfere with the confidentiality and the security of the Offshore Business environment.
There are two main political parties, and in the most recent election in August 2003, Said Musa, head of the People's United Party (PUP) was reelected Prime Minister over Dean Barrow, head of the United Democratic Party (UDP).
The country's ethnic diversity has nurtured a climate of social harmony and the frequent peaceful transitions of power between the two political parties. Actually, Belize has enjoyed a long history of peace, stability and democracy.
The political system is based on the British Westminster model with Queen Elizabeth II being represented by a Belizean Governor General. Executive authority is exercised by the cabinet under the leadership of the Prime Minister, the Head of State and is suthe Propertyct to approval by a 29-member House of Representatives elected by universal adult suffrage every five years; in addition there is an 8-member Senate with the majority appointed on the recommendation of the Prime Minister.
Belize's history is fascinating and its future promising. Formally a British colony known as British Honduras, the country of Belize only gained its independence in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non Aligned-Movement.
Both of Belize's political parties are committed to the economic development of the country and new legislation has set up Belize as a legal island of free trade and free flow of capital. Several Free Trade zones are now established and the newest development - the Santa Elena Free Trade Zone is located right on the border with Mexico, within easy trucking distance from the US southern border.
The Belizean Government is keen to attract any form of inward investment and development program that creates local employment, boosts the local economy, assists and increases exports and basically brings advantage to the economy and stability of Belize. Therefore a developer who undertakes sympathetic development programs, employs local labour, builds well and attracts the inward investment of the subsequent purchasers will not be impeded or restricted by the government.
Anyone interested in buying land in Belize for development and investment purposes and who adheres to the rules of the Minister of Natural Resources should encounter no problems from the Government of Belize whatsoever and will likely benefit from a number of attractive taxation holidays and duty exemptions.
When applying for the license to purchase it is necessary to submit detailed plans for the development of the land, unless of course the land has already been developed upon. If the latter case is the situation then a license for development is still required but the purchaser is not obligated to further develop the land. This means that significant parcels of developed land can be purchased and held for investment purposes.
As an alternative to this route it is possible to lease a parcel of land from the government and to have the right to later purchase the land if the development plans you hold for the land actually get put into practice.
When applying for a license to purchase it is worth noting that if you intend to later divide up the land further you have to have permission to sub-divide your particular parcel of land. Such permission is also granted by the Minister of Natural Resources and if you’re buying land to build property in Belize, chances are you will want to further sub-divide your plot.
With a population of just under 300,000, doing business in Belize is a more personal experience than in many of the neighboring countries. Belize officials are proud of their reputation for friendly and personalized relationships with investors.
With more than 300 miles of Caribbean coastline, Belize is a trade crossroads between the Caribbean and Latin America. Belize benefits from a number of preferential market access arrangements particularly with the US, Canada, and the European Economic Community through its British links.
The Belize Government has promoted development by means of a mixed economy in which the public sector has judiciously utilized foreign borrowing, mainly on concessional terms, for infrastructure development as well as for private sector support.
The GDP growth has averaged 6% in recent years with traditional crops like sugar, citrus and bananas long being the mainstay of the economy. However, this small Caribbean country is aggressively looking for new opportunities where its natural resources, low operating costs, 90% literate work force and close proximity to the world's largest trading block (U.S.A) give it a natural competitive edge.
Belizeans trade with their own currency, a convenient fixed exchange rate of 1 US dollar to 2 dollars Belize makes this process easy and attractive for international guests. This exchange rate has existed since May 1976.
Belize presently has one Offshore Bank, namely, Provident Bank and Trust of Belize. Additionally there are four commercial banks, The Belize Bank Ltd., Barclays Bank PlC., Bank of Nova Scotia and Atlantic Bank Ltd. The commercial banks are regulated by the Central Bank in accordance with the provisions of a Banking Act.
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. Belize's government and business leaders are forging innovative strategies aimed at accelerating its already impressive growth rate. The Ministry of Economic Development operates a comprehensive investment scheme which is available to Belizean and foreign investors alike.
Belize Government has enacted laws to allow for the incorporation and operation of International Business Companies and Public Investment Companies under the IBC Act of 1990, the Fiscal Incentives Act, the Export Processing Zone Act, and the Commercial Free Zone.
Current investor opportunities include a tax holiday of up to 20 years and up to 100% exemption from trade taxes on import of capital equipment and raw materials. Under this investment scheme there are no restrictions on the repatriation of profits, dividends, fees, and capital (including capital gains) arising from foreign investments in the country, provided all such investments are registered with the Central Bank.
