Export Promotion Requirements
The Belize Trade and Investment Development Service (BELTRAIDE) is a quasi-governmental agency that is charged with the responsibility for export promotion, capacity building, and a one-stop shop for export/import procedures. Please visit BelizeInvest.org.bz. It is also the main focal point that manages the investment incentive regime in Belize.
Legislation Governing Fiscal Incentives
The Fiscal Incentive Act; the Companies Act; the Mines and Minerals Act; the Export Processing Zone Act; the Commercial Free Zone Act are specific Acts that govern investment incentive schemes in Belize. In essence, these Acts provide for tax holidays and duty exemptions, exemption on tax on income, dividends paid, interests, rents, corporate tax, and losses carried forward. (For a copy of the legislations please visit BelizeLaw.org)
BELTRAIDE is the organization that provides support when making applications for investment incentives by persons or entities wishing to establish or conduct an enterprise in Belize. A business proposal that meets the approval of Cabinet is required. Upon application, Cabinet assesses the economic and social benefits to be obtained from the investment as well as the overall viability of the proposal and longevity of the investment.
Longer-term incentives such as establishment in an Export Processing Zone or the Corozal Free Zone are offered to industries in the less-developed rural areas of the country and for export-oriented projects or projects introducing new technology into Belize. Some of the areas being explored for diversified investment include tourism, aquaculture, non-traditional agriculture, and financial services.
Click here for programmes involving export duty and tax concessions.