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Investment Incentives

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Fiscal Incentive

The Fiscal Incentive Program provides Customs duty exemption for both existing and prospective investors. The Program provides a legal and fiscal framework to stimulate productive economic activities that will ultimately contribute to the overall development of Belize.

For more information on eligibility, kindly see below brochure:

FI BROCHURE GOES HERE

Fiscal Incentive and Designated Processing Area Application Process

STATUS 

  1. Registration of Company

  • In accessing the Fiscal Incentive Regular Program or the Designated Processing Areas Program, applicant companies must be formed and registered under the Companies Act, Chapter 250 of the Laws of Belize. 

  • Fiscal Incentive SME Program – The applicant can be a sole proprietorship, under Chapter 247 Laws of Belize, or an incorporated entity, under Chapter 250 Laws of Belize. The business must have 51% Belizean ownership, employ no more than 15 persons, and have an annual turnover not exceeding BZ$500,000. 


  1. Property Ownership

  • Land Title of Ownership in the name of the Applicant Company & Certified Land Registry Report or*

  • Lease Land Agreement & Certified Land Registry Report*

*Issued by Land Registry, Ministry of Natural Resources 


  1. Environmental Clearance*

  • Environmental Compliance Plan (ECP) issued in the name of the company seeking an investment incentive.  


*Issued by the Department of the Environment


  1. Approval from Central Building Authority*

  • No Objection Letter from Central Building Authority (CBA) issued in the name of the Company seeking an investment incentive.  


*Issued by the Central Building Authority


  1. Business Proposal


Designated Processing Areas Program

The Designated Processing Area (DPA) Program supports investments that engage in international trade and value addition inclusive of technology transfer, generation of employment and production according to standards of the intended market.

For more information on eligibility, kindly see below brochure:

DPA BROCHURE GOES HERE

Gaming Control (Casino) Program ( IPCU IS IN TRANSITION)

This system was modeled on par with similar standards adopted by successful gaming countries, and subsequently adjusted to create a modern program to suit the gaming industry. Gaming fosters economic growth and development through investments, which allows for job creation, transfer of skills and technology, earning of foreign exchange and linkages to the tourism sector and other sectors of the economy.

Types of Gaming Licenses
  • Gaming License – is granted for Casinos.
  • Gaming Machine License – is granted for establishments featuring gaming machines such as any arcade machine, poker machine, slot machine, or any electro-mechanical device used in connection with or for the purpose of gaming.
  • Online Gaming License – is granted when gaming occurs as a result of a player entering, negotiating, or receiving a bet by means of telecommunication. For more information Contact the Ministry of Finance, Economic Development and Investment, Garden City Building, Belmopan, Belize at:

    Tel: (501) 822-2832/33

    Fax: 822-2837

    Email:belizeinvestment@itc.gov.bz

    Webpage: itc.gov.bz

Free Zone

Commercial Free Zone developer or “CFZ developer” means any person or entity, private or public, who has been issued a Certificate of Designation by the NFZA or the Minister under the Commercial Free Zones Act and regulations.

Commercial Free Zone or “CFZ” means a geographic area in Belize designated as such by the National Free Zone Authority (NFZA) or by the Minister under section 6 of Commercial Free Zones Act, Chapter 278 of the Laws of Belize.

Free Zones locations in Belize

-Benque Viejo Free Zone: The free zone is located adjacent to the Belize/ Guatemala Border near the town of Benque Viejo Del Carmen Cayo District.

-Corozal Free Zone: The most famous free zone in Belize. It is located adjacent to the Belize/ Mexico Border in Corozal.

Process for Setting up in Corozal Free Zone:

  • Form a company registered in Belize.
  • Submit (4) complete sets the following to the Corozal Free Zone Management Agency:
    • Articles and Memorandum of Association
    • Certificate of Incorporation
    • Business Plan with a 3-year statement of Cash flows
    • 2 bank references per Director
    • Copies of passport
    • Current police record
    • 1 commercial reference per Director
    • Completed application form
    • Physical business address and office, including contact information and email address.
    • Recommendation letter from the Corozal Free Zone Chamber of Commerce.
  • Pay Application Fees.
  • The Board of Directors reviews.
  • Pay Annual Fee Upon Approval
  • For more information Contact the Ministry of Finance, Economic Development and Investment, Garden City Building, Belmopan, Belize at:

    Tel: (501) 822-2832/33

    Fax: 822-2837

    Email:belizeinvestment@itc.gov.bz

    Webpage: itc.gov.bz

MSME Enhancement Program

The MSME ENHANCEMENT PROGRAMME (MEP)seeks to strengthen the competitiveness of Belize’s Micro, Small and Medium Enterprises (MSME), through the waiver of Customs Import Duty, for a list of packaging and labeling materials for eligible MSMEs.

MEP BROCHURE GOES HERE

MSME Enhancement Program Application Process

STATUS 

Required Documents:

  • An original or certified copy of Registration or Certificate of Incorporation from the Belize Companies and Corporate Affairs Registry 

  • A valid Belize Social Security Card or Passport Biodata Page of the applicant

  • Proof of registration as an employer or self-employed person with the Belize Social Security Board. 

  • Official letter from the Belize Tax Service’s General Sales Tax (GST) Department, indicating the registered Importer’s Tax Identification Number (TIN). 

  • A shortlist of intended packaging and/or labeling materials, with average quantity estimates by month, for business operation. 


The Eligibility Criteria

  • You may be eligible to apply if your registered business falls within any of the following tiers of enterprises and you provide the required documents.


Enterprise Tiers

Number of Employees 

(Full Time)

Annual Sales (Belize $)

Investment Size (Belize $)

Manufacturing  Space (m2)

Micro 

Owner (Manager) –

<5 employees

<100,000

<50,000

NA

Small 

5 – 19 employees

<500,000

<150,000

<372 (4004 ft2)

Medium

20 – 51 employees

<1,500,000

<500,000

<557 (5,995 ft2)


The Application Process

  • Gather all the required documents and set an appointment with SBDCBelize. 

  • SDBC vets your application 

  • If approved, SDBCBelize informs both the applicant and the Belize Customs and Excise Department. 

  • After approval is granted, the approved enterprise can begin to import packaging material under the program.