Belize has one foot in Central America and the other in the Caribbean Sea, which makes a strategic location for businesses to serve their clients easily through­out the Americas.

In this fertile environment for casual investors and major enterprises, the tiny tax haven of Belize offers a literate English-speaking workforce, democratic government, stable economy, low operating costs, repatriation of profits, and high returns on fixed deposits. The stable exchange rate has been pegged since 1976 at BZ$2 to US$1. Other incentives include the tropical climate and slew of natural attractions and activities.

In this private-enterprise economy, the tourism industry leads as the number one foreign exchange earner, followed by marine products, citrus, cane sugar, and bananas. Responsible monetary and fiscal policies have led to sturdy growth in gross domestic product, averaging nearly six percent per year from 1999 to 2004. The country’s telecommunications market opened for competition in 2003.

Belize offers special programs to promote investment: International Business Company (IBC), Export Processing Zone (EPZ), Commercial Free Zone (CFZ), and insurance and mutual funds. For details on business and investment opportunities, contact the Belize Trade and Investment Development Service (BELTRAIDE) at www.belizeinvest.org.bz. For information on international financial services, contact the International Financial Services Commission at 501-822-3800. For the latest laws and regulations on investments, visit www.belizelaw.org.

NATURAL BRAND
In a world that pays a premium for niche products labeled “natural,” “organic,” “fair trade,”  and “eco-friendly,” Belize makes an ideal target for investors. Its natural riches, progressive development policies, non-destructive production methods, predictable Western legal system, and export orientation all contribute to the perfect market brand.

Demand for the “made in Belize” brand includes fair-trade cocoa, orange juice, and pepper sauces. The country’s number one export, experience-based tour­ism, leads the economy. New niches for global investors will come in the fields of

• agriculture
• agro-processing,
• furniture manufacturing, and
• international finance.

The national government — supportive and non-intrusive — understands that it must leverage the natural assets of Belize to promote private sector growth and ensure long-term sustainability.
With a literacy rate of 94 percent, Belizeans feel pride that the world views them as a model for developing countries, protecting their environment and resources while attracting foreign trade and investment. Average annual GDP growth of 4.8 percent from 1993-2003 demonstrates their success, as does the consistently high level of reinvestment.

Belize has already rewarded foreign investors from a variety of niches. Now the question for new investors is in which niche to get rich. For information on opportunities, contact Belize Trade & Investment Development Service (www.belizeinvest.org.bz).

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INTERNATIONAL BUSINESS COMPANIES
Non-residents may form international business companies, easily incorporated within an hour. Popular for the confidentiality they provide, IBCs offer asset protection as well as no exchange controls. Non-residents enjoy tax exemptions on capital gains, income, interest, shares, and debt obligations. No minimum paid-up capital is required, which can be in non-Belizean currency. Other benefits include no currency restrictions and no citizenship or residency requirements for directors and shareholders, who may conduct their meetings in any country.

A few restrictions apply: IBCs cannot do business with Belizeans, operate as a bank, or own real estate. Filing requirements include a certificate of incorporation, memorandum, and articles of association. The companies need registered offices and agents in Belize.

For a fee, the IBC Experts Registered Agents Department will help investors with incorporation. Financial firms which help to incorporate and manage IBCs include Atlantic International Bank, Caye International Bank, The Georgetown Financial Group, International Services, Alpha Services, and Oxley Corporate Services. Leading banks, including Atlantic, Belize, Caye Inter­national, Provident, and Investment & Commerce, also deal in loans, corporate accounts, wire transfer services, and credit cards. International Services also does business consulting, immigration applications, corporate services, and trust accounts.

Many Belizean banks provide forms and assistance to open IBCs and trust accounts. When going through a bank, it issues the IBC an international Visa or MasterCard, which can provide owners with a flexible link to foreign accounts.

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EXPORT PROCESSING AND COMMERCIAL FREE ZONES
Benefits of the export processing zone and commercial free zone programs include tax and duty exemptions, no import or export licenses, and foreign currency bank accounts in Belize and abroad. Goods and services can be sold, leased, and transferred within an EPZ. A certificate of compliance allows a party to establish an EPZ business on property owned or leased by the zone.
A retail or wholesale business can be set up in a CFZ with approval from the chief executive officer of the zone’s management agency. There are no restrictions on foreign exchange or penalties for using foreign currency in a CFZ. Two zones operate currently: the first on 160 acres along the Mexican border in northern Belize; the second in western Belize.

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BANKING SERVICES
Nine licensed offshore banks and five commercial banks operate under Belizean jurisdiction with a range of services. Leaders include Atlantic, Belize, Caye International, Investment & Commerce, and Provident banks.

The automatic teller machines at At­lantic Bank and Belize Bank dispense cash for holders of local MasterCard and Visa cards. The ATMs at Belize Bank accept foreign bank cards as well, and the international division offers trusts, foreign currency accounts, services for offshore companies, and international Visa cards. Provident Bank and Trust offers merchant accounts to facilitate sales.

Some banks offer foreign currency accounts, power of attorney, and notary services. Belize Offshore Center, an association of offshore financial service providers, offers clients asset and money management, plus corporate, commercial, business, trustee, and accountancy services. Register ships through the Belize Shipping Registry.

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MEETINGS AND CONVENTIONS
Everybody attends when the conference is set in Belize. Besides enjoying the unique jungle and seaside facil­ities, folks can swim, sunbathe, snorkel, dive, cruise, hike, climb, tube, and explore this most fascinating little country.

Belize has hosted heads of state and heads of companies, leading educators and promising students, trade groups and non-profit associations. Meeting planners appreciate the diverse accommodations, modern facilities, central location, easy transportation, tropical climate, tour operators, and wealth of activities.

Accommodations — from modern city hotels to sunny beach resorts to shady jungle lodges — all spark the imagination. Visualize the company’s annual meeting in a sylvan lodge. Each morning the execs wake to clean pine-scented air. The rich aroma of freshly brewed coffee and Belizean breakfast wafts by. After a bit of business, a sparkling waterfall beckons for a swim. Tropical birds in brilliant reds and greens swoop back and forth outside — sometimes inside — as their songs provide the background for brainstorms.

Other groups may prefer a seaside setting, where Caribbean blues merge into sunny golds, where salty sea breezes remind everyone to breathe deeply, where the lapping of waves lulls guests to sleep.

Meanwhile, Belize City accommodates conventions up to 500. The hotels provide first-class housing and facilities. When not at meetings, attendees go on exciting tours to nearby attractions, including ancient Maya sites and beautiful snorkeling and diving spots.

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RETIRE WELL IN BELIZE
Retirees shopping for a slice of paradise often choose Belize, which welcomes newcomers warmly. Imagine rolling the nest egg all the way out to the horizon. Imagine living like a king in the exotic Caribbean, with reefs to the east, jungles to the west, welcoming neighbors, wholesome food, convenient shopping, and affordable health care.

People retire to Belize to enjoy the golden years as if they were on a continuous vacation. Sway in a hammock under coconut palms. Travel easily through neighboring Mexico and Central America. Study ancient Maya culture in countless archaeological sites.

Stable government, good security, fine education, and excellent health care make Belize a safe investment. Modern amenities, easy transportation, and English-speaking neighbors contribute to the country’s popularity.

The housing budget stretches farther here, so retirees can buy or build the home of their dreams. Picture a rambling beach house or low-rise condo where the whole family can come to visit. Especially at Ambergris Caye, Placencia, and Hopkins Village, new condo developments present opportunities to find one’s place in the sun. Or imagine living in a rustic mountain home, amid a cool forest, high in the hills of Cayo or Toledo.

Under the Belize Retired Persons Program, anyone over 45 is eligible for tax benefits, including exemptions on retirement income. When moving to Belize, qualified retirees can import motor vehicles, boats, aircraft, and personal effects duty-free. Spouses and children under 18 (23 if enrolled in college) also enjoy benefits. To apply, get the form online and submit it to the Belize Tourism Board with the following documents.

1. Birth certificate for the applicant and each dependant.
2. Marriage certificate if the spouse is a dependant.
3. Police record from the current jurisdiction, issued within one month of the application date.
4. Passport copies of all pages, including blanks, for the applicant and dependants, certified by a notary public.
5. Proof of income: official statement from a financial institution certifying the applicant receives a pension of at least US$2,000 per month, and a financial statement from a financial institution in Belize certifying the applicant’s investment or deposit will generate the equivalent of US$24,000 per year.
6. Medical certificate from a complete examination, which includes an AIDS test.
7. Recent photos from the front (four copies) and profile (four copies), for each applicant and dependant.

For details and forms, visit www.belizeretirement.org or call 1-800-624-0686.

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REAL ESTATE
Timing is everything, especially in real estate. All along the Caribbean coast, the market has begun to explode. Within Belize, new developments foretell a great real estate expansion here as well.

With a steady stream of visitors and plenty of land to develop, Belize offers opportunities from modest inland retirement bungalows to lavish seaside resort villas. The country’s proximity to North America, just two hours from Miami, makes it convenient to invest here. Land prices, still below comparable destinations, make Belize potentially profitable.

Values depend on location, location, and location. Look for beaches, islands, la­goons, and rivers. Some homes and re­sorts occupy private cayes. Whether devel­oped or raw, consider accessibility, utilities, and proximity to tourists and commerce.

An average home in Belize costs US$45-75 per square foot. An average residential lot sells around US$10,000. Commercial land and residential lots in upscale neighborhoods start around US$50,000. Land goes from US$75 up to $100,000 per acre.

Outside cities and towns, owners pay an annual property tax of one percent of the value. Inside cities and towns, taxes vary. On properties of 300 acres or more, a speculation tax of five percent applies to the undeveloped value of the land.

For non-Belizeans, property transfers invoke registration and fees of about US$15, government stamp duty (transfer tax) of 10 percent of the sales price, plus an attorney’s fee from one to three percent of the sales price.

A foreign investor should retain an experienced attorney and reputable agent when considering a purchase.

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