The Fiscal Incentives Act (Chapter 54 Laws of Belize) was designed to encourage genuine investments in Belize by way of Import Duty and Revenue Replacement Duty exemptions. The Act provides both prospective and existing investors with the legal and fiscal framework to stimulate productive economic activities during developmental and expansion stages.

Full Duty Exemption:

* Duty exemption of up to 15 years to companies granted an Approved Enterprise Order.
* Duty exemption may be renewed for a further term of up to 10 years. Duty exemption up to 25 years for companies engaged in agriculture, agro-industrial products, mariculture, food
processing and manufacturing with operations centered on export and highly labor intensive.

Categories:
Several categories of items may be exempted from Import Duty and Revenue Replacement Duty, depending on the nature of the business. Examples of categories that may be approved are:

* Building Materials and Supplies
* Plant, Machinery, and Equipment
* Specialized Tools
* Utility and Transport Vehicles
* Fixtures and Fittings
* Office Equipment and Appliances
* Spare Parts for Plant, Machinery & Equipment
* Agricultural Machinery and Supplies
* Raw Materials or other items for the sole usage of the approved enterprise.

* A company applying for development concession must be an incorporated entity under Chapter 250 Laws of Belize.
* Business activities must provide economic benefits to the country of Belize.

Application Requirements

* A project proposal must be submitted in triplicate to the Belize Trade and Investment Development Service (BELTRAIDE) with the following supporting documents:
* Copy of Articles of Association
* Copy of Memorandum of Association
* Copy of Certificate of Incorporation
* Banker’s Reference
* Land Tenure Deed
* Proforma Profitability Statement
* List of items requested for duty exemption must be submitted on a diskette in a tabulated format using Microsoft Excel. It must show the ITEM, QUANTITY, and EST. UNIT COST for each item.
* Application Fee –
Size of investment (USD$) Fee Payable (USD$)
less than $ 250,000 $ 3,500.00
$ 250,001 to $500,000 $ 7,500.00
$ 500,001 to $2,500,000 $ 10,000.00
more than $ 2,500,000 $ 15,000.00

* The SME Program was designed and created to encourage investments by Belizeans who are investing below USD$150,000.00
* Joint ventures with foreigners are allowed providing that a minimum of 51% of ownership is retained by Belizean(s).
* Employing not more than 15 persons
* Annual Turnover not exceeding USD$250,000.00
* Is not a subsidiary of or controlled by an entity that is not an SME
* Is a net foreign exchange earner
* Holds necessary permits/licenses to conduct the business
* Application Fee –

Size of investment (USD$) Fee Payable (USD$)
Up to $50,000 $ 50.00
$ 50,001 to $100,000 $ 100.00
$ 100,001 to $150,000 $ 250.00

For Further Information Contact

Belize Trade and Investment Developmen Service
14 Orchid Garden, Belmopan City
Cayo District, Belize
Tel: (501) 822-3737 Fax: (501) 822-0595
www.belizeinvest.org.bz
beltraide@belizeinvest.org.bz