Economy of Belize


Belize’s economy is an essentially private enterprise economy. Belize has a small economy. Belize has tourism, agriculture and services sector to support its economy.

Belize is now looking towards the new avenue of cultivation of newly discovered oil. This discovery of oil was made in the town of Spanish Lookout.

Belize is a developing nation that is facing many problems and is having new prospects towards development of a national economy.

Economy of Belize

Belize is a country that is exporting certain merchandise to the other countries, in the world. Belize exports sugar, banana and citrus fruits to the other countries. This export also contributes considerably in Belize’s economy.

Belize is currently an economy with regularly growing trade deficit. The main reason of this trade deficit is the low price of sugar and bananas in the outer world market.

The recent government of Belize has a huge task of stabilising the country’s economy. Though Government has promised rapid collection of taxes to generate fund, for improving the national economy, the implementation part has lot more to be done.

The increasing expenses in the governance, with poor collection of funds may result in putting the exchange rate of the local currency under huge pressure. The Belize dollar has been fixed at an exchange ratio with the US dollar at the rate of 2:1.

The economy of Belize is also negatively affected by its small domestic market. The manufacturing sector is facing the problems of high cost labour and high cost power supply. This has made local manufacturing and trading a negatively growing business in Belize.

Currently, the economy of Belize is dependent on the tourism industry. The foreign tourist influx to Belize also invites foreign direct investments in Belize. Significant foreign investments have also been made in the sectors of energy, telecommunications and agriculture, in Belize.

Why form an offshore company in Belize?

Belize is very well situated in between North America and South America. Apart from being a hotspot for beach holidays, it is also one of the tax havens in the world. Belize IBCs are also commonly used for the ownership of real estate property and land; for ownership of intellectual property licensing and franchising; personal service by individuals working overseas and offshore e-business. These are just some examples. The Belize IBC may be used in many other ways to save on taxes.

Form an Offshore Company in Belize

Benefits of Forming an Offshore Company in Belize

  1. 0% tax on income, capital and corporate
  2. Zero sales tax
  3. 24x7 banking support
  4. You can use Nominee Directors to remain confidential
  5. Local agent not required for the position of Director
  6. Incorporate a company within 48 hours
  7. Filing annual returns not required
  8. Require only one director and one shareholder