Belize: a stunning location with stunning tax benefits

Belize offers international business so much more than just a tax haven in the sun.

A short history of Belize

Belize is an independent country located on the north-eastern corner of mainland Central America. With Mexico to its north, Guatemala to the south and west and the beautiful Caribbean Sea to the east, the location of Belize has ensured its importance as a commercial centre across the centuries. The country is notable for the fact it is the only official English-speaking nation in the region and was originally part of the British Empire, becoming a “crown colony” in 1862. For over a century, Belize was a representative government of the UK but, in January 1964, full self-government was granted and in 1973, the country changed its name from British Honduras to Belize. Full independence from the British was finally achieved in 1981. With the help of growth from tourism and international financial services, Belize has since flourished into a stable, democratic and independent nation ready to do trade with the world, but a few echoes of the past still exist. The country’s political and legal system, for instance, is to this day grounded in English Common Law – with a few slices of local legislation thrown in!

Belize and its people

Belize is a beautifully diverse country, boasting a mix of languages and cultures. With a population of only 340,000, it has the lowest population density of all the Central American countries. This remarkable landscape is renowned for its biodiversity and distinctive ecosystems: from the swampy coastal plain to the mountainous interior, the majority of Belize remains undeveloped. Originally of Mayan descent, the people of Belize are warm and friendly and exude that famous, laid-back Caribbean style which is so popular with visitors. Among the English and Spanish spoken by Belize residents, you may even hear the odd “Gud Mawnin”. That’s the local dialect of Kriol which has a unique character all of its own.

A business climate

One of Belize’s biggest attractions beyond its jurisdiction as a tax haven clearly has to be the weather. With average temperatures of 84°F/29°C all year round, it’s always comfortably warm. Cool breezes off the Caribbean Sea help in the hottest summer months and the winters are cool but never cold. June sees the start of the wet season, which typically runs through to December.

An incorporating economy

Belize offers businesses excellent communication networks worldwide and is serviced by direct flights daily to the USA (Miami and Houston) and Central America, which makes the market easily accessible. The availability of free zones also provides world-class facilities for manufacturing, warehousing, packaging and distribution of goods.

But it’s the advantageous tax benefits – such as exemption from local taxes for international business corporations – that make Belize such an attractive proposition for companies looking to incorporate offshore. The country offers robust financial services in a well-regulated environment, while continuing to provide a level of confidentiality not typically found in onshore markets. In addition, Belize’s banking laws are very favourable to private entrepreneurs and high net worth investors, as well as large corporations.

Another key advantage for companies incorporating in Belize is the assurance of anonymity. While financial records do have to be maintained, companies are never audited, there’s no requirement for annual reports and businesses are not subject to the laws of their country of origin. It goes without saying however, that while offshore IBCs are exempt from all taxes, Belize is not a place where ill-gotten gains can be hidden away. The country has some of the strictest anti-money laundering legislation and the authorities maintain Belize is only open for business to those with legitimate financial services needs.

Titoff Realty Ltd is your partner in Belize

At Titoff Realty Ltd. we know what a fine place Belize is – after all, we work here! We also understand international businesses require an established financial services provider with a professional infrastructure at its heart. We can incorporate IBCs in Belize in a matter of hours and our capability extends from setting up family trusts to establishing complex, multi-jurisdictional offshore conglomerates.

So what’s stopping you? We want to hear about your business and would love to introduce you to all the benefits this beautiful country has to offer – from the beach to the bank.