Believe In Belize: Offshore Investment Business Spotlight

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Belize is a tiny Caribbean nation bordered by Mexico and Guatemala

, and flanked by the Caribbean Sea to the East. It is only 23,000 square kilometers in area, but holds one of the world's highest concentrations of international business companies. It has an amazing annual rainfall of around 170 inches and tourists flock to the country for the offshore atolls (for diving and snorkeling) and a large barrier reef.

It is home to around 300,000 people, mostly Mestizo, and is an official part of the British Commonwealth despite their self-governance. Their democratic legislature based on the Westminster system, and English being the official language are among the major attractions for offshore investment businesses. We take a full look at why Belize is so well known for its tiny size.

Currency

Belize uses the US dollar almost as freely as the Belizean dollar, operating at a fixed exchange rate of BZ$2 to US$1.

Business Environment

This is the main attraction for offshore investment businesses. Business consultancy services recommend Belize for the minimum of red tape and low level of general regulation that exists within its administrative system. The business hours are very similar to those in the US, although can be troublesome for offshore companies with other offices or contacts in Asia and Europe.

The telephone system is reliable - a modern fiber optics network was recently installed, because of the high risk of hurricanes in the region. Internet access comes from the central telephone company, but international calls are expensive compared to other countries.

Professional infrastructure in Belize is good, according to business consultancy managers. The country in general is efficient, has low operating costs and legal knowledge is not needed for everyday life.

Land ownership

Landownership above 0.5 acre in urban areas and abov 10 acres in rural areas is controlled by the Minister of Natural Resources; subdivision of land is also. Stamp duty is 10% and usually shared between the buyer and the seller. Investment management services that deal in Belize usually find that rents are relatively cheap, and it may be preferable to rent office space.

Market access

Good from Belize get preferential entry into several important markets worldwide. Depending on the type of offshore investment business being operated, this could be an enormous advantage. Certain products are governed by agreements when entering into Europe, Canada, the US and the Caribbean.

Foreign Investment Judgments

Foreign investments must satisfy several criteria set by the Government of Belize in order to be approved. Investment management services can advise on whether you business meets the criteria, or if small changes can be made to accommodate:

Creating employment opportunities

Making good use of indigenous raw materials

Earning foreign exchange

Enhances local management skills

Promotes competition

Diversifies the economy

by: Gregory Smyth

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