Investment Incentives in Belize

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Fiscal Incentive Programs

The Fiscal Incentive Programs (Regular, MSME, and One-Off) are designed to promote investment in Belize for both existing and prospective investors by granting exemptions from import duty, revenue replacement duty, excise duty, and business tax.

Exemptions May Include:

• Import Duty
• Revenue Replacement Duty
• Excise Duty
• Payment of Business Tax

Duty Exemption Period:

• Regular Program: Up to 25 years for Approved Enterprise Order (AEO). Initial 5 years, renewable up to 25 years.
• MSME: Exemptions for capital investments ≤ $1M over 4 years, renewable for up to 8 years total.
• One-Off: Exemptions ≤ $1M per calendar year, max 1 year.

Eligible Categories:

• Building Materials & Supplies
• Fixtures and Fittings
• Utility & Transport Vehicles
• Office Equipment, and Appliances
• Plant, Machinery, and Equipment
• Agricultural Machinery & Supplies
• Raw Materials & Packaging Materials
• Marine Crafts
• Aircraft, Spare Engines & Parts
• Specialized Tools
• Spare Parts for qualified sectors

Ineligible Categories:

• Ammunition and Firearms
• Management Vehicles or SUVs (except Auto Rentals)
• Expendables and Consumables
• Articles of Wood & Forest Derivatives
• Salvage vehicles

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Designated Processing Area (DPA)

The DPA Program (DPA Act, No. 27 of 2018) encourages investments in international trade and value addition, technology transfer, employment, and production in accordance with market standards.

Eligible Activities:

• Manufacturing
• Agro-processing
• Aquaculture
• Data Processing / IT-enabled services
• Industrial or Business Park development

Benefits (up to 10 years, renewable):

• Import Duty & Tax Exemptions
• Exemption from property and land taxes in the designated area
• Exemption from Excise & GST taxes on imported inputs
• Foreign currency bank accounts
• Goods/services transfer between DPA companies
• Expedited customs inspections
• Work permits for up to 15% of workers (Senior/Technical)
• Supplies control and import licenses exemptions for exports
• Exemption from the Trade Licensing Act

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Commercial Free Zones (CFZ)

The Free Zones Act of 2005 was established to attract foreign investment and provides for various activities including manufacturing, processing, packaging, warehousing, and distribution of goods and services. Merchandise warehoused in a CFZ may be sold free of duty wholesale or retail:

• To diplomats of other countries
• To ships that dock at ports in Belize
• For direct export whether by sea, air, or land
• For entry into national customs territory (related import duties and taxes become payable upon entry)

Benefits of CFZs in Belize:

• Duty exemptions on merchandise, articles, or other goods entering a CFZ for commercial purposes
• Duty-free fuel, building materials, furniture, equipment, supplies, and parts needed for CFZ operations
• Exemption from income, capital, gains, or corporate taxes during the first 10 years of operation
• Dividend tax exemption for up to 25 years
• No import or export license required
• No restrictions on the sale or transfer of foreign currency
• No Government charges or taxes on the use of foreign currency in a CFZ
• CFZ businesses may open foreign currency accounts with any registered bank
• Income tax deductions after the first 10-year tax holiday
• CFZ businesses incurring a net loss over the 10-year period may deduct the loss against profits for the next 3 years

Who Qualifies?

Any private or public party, or group of parties, may establish wholesale or retail businesses on property it owns or leases within a CFZ, provided it has obtained approval from the CEO of the Commercial Free Zone Board of Directors.

Application Requirements:

Interested parties must submit an application to the CEO of the Commercial Free Zone Board of Directors for review and approval. The proposed business must:

• Engage in trade or investment activities such as commercial offices, warehouses, manufacturing, insurance, financial or banking services, offshore financial services, or related professional activities
• Ensure operations do not have a deleterious effect on the environment

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Gaming Control Program

The Gaming Control Program was modeled on standards adopted by successful gaming nations and adapted to suit Belize’s needs. This modern gaming framework fosters economic growth and development through investments, job creation, transfer of skills and technology, earning of foreign exchange, and strengthening linkages to the tourism and hospitality sectors.

Benefits of the Gaming Control Act:

• Smooth and simple application process
• Designed to encourage growth in the hotel and tourism industry
• Open to tourists and qualified Belizean residents 18 years and older
• Gaming rooms permitted to operate every day except Good Friday
• No additional fees for the use of slot machines
• Renewable licenses valid for up to 5 years
• Favorable year-round sub-tropical climate supporting tourism
• Additional tourist attractions available throughout Belize

Types of Gaming Licenses:

• Gaming License – Granted for casinos.
• Gaming Machine License – Granted for establishments featuring gaming machines such as arcade machines, poker machines, slot machines, or any electro-mechanical devices used for gaming.
• Online Gaming License – Granted when gaming occurs as a result of a player entering, negotiating, or receiving a bet via telecommunication.

Who Qualifies?

Large hotels—either already established or currently under construction—are eligible to apply for a gaming license. Additionally, any person intending to use or permit another person to use their premises for gaming must apply for the appropriate gaming license from the Belize Gaming Control Board.

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Qualified Retired Person (QRP)

A special Retirement Program has been designed specifically for retirees who wish to live in Belize and can demonstrate a permanent and consistent income from investments, pensions, or other retirement benefits. Successful applicants are granted special Qualified Retired Person’s Status (QRP Status), offering a range of exclusive fiscal and residency benefits.

Benefits of QRP Status:

• Exemption from all taxes on income and receipts
• Exemption from all import duties and taxes on personal effects upon first importation into Belize
• Exemption from all import duties and taxes every five years on a personal motor vehicle
• Spouse and children under 18 years of age included in the program
• Permission to conduct business from within Belize, provided the business activities are primarily carried out outside the country and not with Belizeans

Who Qualifies?

Anyone 45 years or older can qualify for the program. Qualified persons may also include their dependents:

• Spouse
• Children under 18 years of age
• Children up to 23 years old if enrolled in a university

Applicants must demonstrate a monthly income of at least US $2,000 through a pension, annuity, or other form of retirement income generated outside of Belize. All applicants are also subject to a background check conducted by the Ministry of National Security.