What Encourages Investors to Start Their Business in Belize?
- Real estate prices in Belize are reasonable compared to some other countries in the same region.
- Currency exchange rates are stable. The Belize dollar is equivalent to approximately two US dollars.
- Belize has a strategical location near North America, about two hours by plane from Miami, USA.
- The country provides tax incentives that attract investors.
- Foreigners who buy land or property in Belize are granted the same rights as local citizens regarding the ownership of real estate.
- The country enjoys political and economic stability.
Also read: A Simplified Definition of Commercial Law
Procedures to Set Up a Company in Belize
- Choosing a company name and search for it to see if it can be used.
- Determining the company’s headquarters.
- Registering the company’s articles of association.
- The establishment of the company requires one person and one manager.
- Applying for a commercial license. It requires:
- Compliance certificate from the company registry.
- Proof of residence.
- Pay the fees for obtaining the commercial license.
- The city council is visiting the place.
Also read: The Importance of Having a Commercial Lawyer Before Starting Your Investment
- Creating a stamp for the company.
- Completing the business tax and sales tax procedures.
- Registering employees with the Social Security Council.