Belize is an appealing tourist destination, both for vacationers and permanent residents who seek an idyllic retreat or who wish to settle permanently there. Furthermore, its offshore locations and free zones present ample business opportunities for industrial companies looking for investment opportunities in this vibrant nation.
Peter relocated from England several years ago and purchased two cabanas within walking distance of San Ignacio town center. He rents them out through Airbnb with great success.
Free zones
Belize boasts a longstanding democracy, robust economy, an independent judiciary system, attractive tax incentives and concessions, as well as commercial-free zones and export processing zones to attract businesses looking for competitive business environments. Furthermore, this destination benefits from fixed exchange rate options and preferential market access via the Caribbean Basin Initiative (CBI).
Belize combines English common law with local legislation and regulations, with government policies being determined by cabinet decisions while specific ministries handle specific regulatory processes. The Central Bank of Belize holds authority over the national monetary system, while foreign companies may open bank accounts and register for trade licenses; under its constitution, private property rights are protected, and contracts are legally binding; competition regulation in some industries does exist but doesn’t discriminate against foreign investment.
Companies established within a free zone (CFZ) are permitted to conduct all business activities authorized by law, except those expressly prohibited under the Free Zone Act – these activities include firearms, military equipment, and illegal drugs. They are exempt from customs duties, consumption taxes, excise taxes, and import/export taxes. They must submit audited financial statements annually and file monthly reports detailing foreign currency accounts with their local CFZ authority; furthermore, they must report sales of goods or services.
The China Free Zone (CFZ) offers investors looking to invest in manufacturing or service industries an ideal investment vehicle. Not only is the CFZ tax-exempt, but it also has special labor agreements to guarantee minimum wages and overtime pay. Furthermore, income and corporate taxes don’t apply in this zone, and any losses experienced here can be carried forward against future profits.
Investors looking for businesses for sale in Belize can find everything from small home-based businesses to established high-cash-flow companies for sale. Tourist-related ventures, like restaurants and resorts, and those focused on healthcare or education may also present attractive investment opportunities. Real estate development may also offer unique business development opportunities. Whatever business type interests you most, do your homework before making decisions based solely on personal feelings.
Offshore locations
If you are thinking of starting an offshore business in Belize, the country offers many advantages that will help you reach your goals. In addition to a stable political environment and free trade zones/special economic zones for businesses needing access to favorable tax rates. Furthermore, its government is dedicated to encouraging foreign investment and stimulating economic development.
Belize provides an attractive offshore location option for those looking to protect their assets from creditors or potential lawsuits. Belize boasts several laws that protect the privacy of offshore companies, such as the International Business Company Act of 1990, which waives local taxes on income, capital gains, and estate duty while still protecting shareholder and investor privacy. Furthermore, opening a private bank account without disclosing either company names or owners is possible in Belize.
Belize boasts numerous benefits for companies and individuals alike, such as its low corporate and individual taxation, superior infrastructure, and stable economy. Furthermore, the Belizean government offers incentives for international companies investing in Belize, such as tax exemptions and reduced regulatory burdens; it is wise to consult a professional before deciding where your business should locate itself.
Belize is an exquisite and diverse nation that attracts tourists from across the globe, drawn in by its abundant natural resources, beautiful beaches, and clear waters. If you are thinking about purchasing a business there, be sure to select an area near high-traffic spots so your company receives maximum exposure.
No matter the nature of your business – retail or service-based – Belize offers something suitable. Thanks to its diverse culture and abundant tourism industry, Belize is an attractive place for entrepreneurs. Indeed, Belize’s tourism sector is one of the fastest-growing around. Furthermore, the Belizean government works tirelessly to meet growing demands through improved infrastructure.
Tourism industry
Belize’s tourism industry is an integral part of its economy. It provides employment opportunities while contributing to GDP and foreign exchange earnings; cultural preservation and environmental protection are just some of the many other advantages it brings to Belizeans. Yet tourism does face its share of challenges: infrastructure constraints may impede growth or access while living costs continue to remain prohibitively expensive despite government efforts at sustainable tourism promotion and investments that ensure competitiveness within this sector.
HORIZON 2030, Belize’s long-term national development plan, sets forth its aim of creating a medical tourism industry to increase economic diversification and GDP growth. This can be accomplished by setting up medical facilities catering to visitors from both domestic and international markets, such as the United States. Belize Tourism Board has already begun identifying potential medical tourism locations such as Belize City, Caye Caulker, and Ambergris Caye – though Belize City remains popular due to recreational activities and ecotourism opportunities.
Overnight tourism in Belize is projected to experience substantial growth by 2022 and become one of the primary sources of income for the nation. Belize boasts many attractions that make it attractive as a tourist destination, such as a long barrier reef in the Western Hemisphere, an extensive cave network, rich Mayan heritage, low population density, and biodiversity hotspot status.
Belize can expect to attract not only traditional international markets but also an increasing stream of high-value European tourists, as well as niche market segments like cavers, divers, pocket cruisers, and honeymooners who will bolster its domestic tourism offering and increase domestic travel.
Belize’s tourism industry relies heavily on visitors’ health, exposing them to global health threats. Thus far, the COVID-19 pandemic has had a devastating impact on demand and supply, which should prompt immediate preparations in the tourism and hospitality sectors for this unprecedented shock and reforms that can support long-term industry sustainability and development.
Food and beverage industry
Belize’s cuisine reflects its multicultural population and idyllic Caribbean location, with many restaurants providing both traditional and international fare. Rice and beans are staples, while seafood restaurants along the seashore offer delicious selections worldwide. Local favorites such as Johnnycakes (a combination of cornbread with coconut milk) or soursop ice cream are also favorites among residents. Other popular tropical desserts include flan, an egg and condensed milk custard, and homemade coconut pie. Belize also boasts an excellent selection of soft drinks from global brands – tap water is generally safe to drink in cities and larger towns; however, when traveling into rural areas or small villages, it’s wise to request bottled water instead.
Tourism’s success is opening up opportunities for food and beverage businesses specializing in resorts, dive shops, and bars to specialize in food and beverages. Some have experienced significant growth over the last several years, while others are just getting started – each has excellent potential for future success.
Belize is known to attract many tourists, providing hotels and restaurants the chance to profit from its appeal. Unfortunately, however, this industry remains relatively new with numerous challenges, such as high costs of land and labor; also essential to take into account is how climate may influence sales.
Becoming a restaurant owner in Belize can bring many advantages, from its proximity to the United States and sizeable Caribbean market to its diverse population and high demand for international cuisines. Furthermore, Belizean authorities are working towards sustainable tourism by offering tax incentives and training for restaurant managers.
This Belize business for sale on Ambergris Caye Island features five lodge rooms on a 2.5-acre riverfront estate and comes complete with a three-bedroom home that can be used as an owner’s residence or rental property. Furthermore, this turn-key operation has all necessary licenses, such as a hotel license, tour operator license, and liquor permit.