Are you looking to open a business in Belize as a foreigner? This article describes the advantages and the challenges of doing business in this jurisdiction. For details on the steps for company incorporation, we invite you to read our other informative article here.
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What are the main advantages if you open a business in Belize?
Belize is a key location for investors looking to do business in the Latin America & Caribbean region.
The country offers ample tax advantages for those who start a business in Belize as a foreigner, as an offshore company (under the International Business Company regime) and it does not impose burdensome incorporation conditions.
| Quick Facts | |
|---|---|
| Entry requirements for EEA citizens | No visa requirement applies for entry for short-term stays |
|
Entry requirements for non-EEA citizens |
Generally a visa is required. Exemptions can apply based on one’s citizenship. |
|
Mandatory residency required to open a company in Belize as a foreigner |
There is no need to obtain residency before you can make an investment. |
| Residency by investment scheme available | Temporary residency can apply for minimum investments. |
| Minimum investment amount for residency by investment (if applicable) |
No minimum applies |
| Relocation with family members for foreign investor residence permit holders |
Can bring the spouse and children. Fees apply in this case. |
| Types of companies available to foreign investors |
The International Business Company and the Limited Liability Company are the two popular business forms. |
| Full foreign ownership permitted (Yes/No) |
Yes |
| Operation costs in Belize |
Examples include the company registration fee (depending on capital, starting at BZD300), registered agent and registered office fees (depending on the service provider), and others. |
| Payroll costs in Belize | Contributions to social security (from 5.5% of the salary), bonuses and other benefits for employees in addition to the minimum wage (see below). |
| Accounting costs (approx.) |
Annual bookkeeping fees can be approximately BZD 500. Other prices apply to complex accounting packages. |
| Employment costs (minimum salary) |
The minimum wage for Belize starts at BZD 5 per hour. |
| Office rental costs (approx.) |
Depending on location, it can be BZD 2,500 for office rental (1.200 sq. ft.) in Belize City. |
| Number of companies incorporated each year (approx.) |
More than 1,000 |
| Regulatory environment makes it easy to open a business in Belize as a foreigner (Yes/No) | Yes |
So, what are the most important advantages for those who open a business in Belize as a foreigner? Our team lists these below:
- English is the official language and many Belizeans are bilingual. International investors will not face a language barrier when dealing with the authorities;
- The country enjoys economic stability and growth in different key sectors that can be of interest to international entrepreneurs, including real estate and tourism;
- Full foreign ownership is permitted. This means that a foreign investor will own 100% of the business and will not be required to enter into a joint venture with a citizen or a resident;
- A lower cost of living compared to North America and some European countries. Furthermore, Belize’s proximity to North America makes it advantageous for US investors who want to open a business here. The country is well connected through flights to and from major US cities.
The Government encourages foreign direct investment and one example of this is the Fiscal Incentives Act of 2024, which provides exemptions on import duties and tax exemptions for companies in selected industries. A key feature of this Act is that it was designed to improve market access for micro, small, and medium companies.
The following infographic summarizes some of the essential steps for starting a business in Belize:
How easy is it to open a business in Belize as a foreigner?
Foreign nationals are not faced with particular hurdles when doing business in Belize.
The procedures that make it easy to start a business in Belize as a foreigner include:
- No minimum share capital: there is no requirement to provide a minimum authorized share capital when you open an International Business Company in Belize;
- Only one business day is required to complete some of the steps to open a company. Others, like the ones for opening a bank account can take longer;
- No charge for many of the steps, examples including the name search (depending on how this is performed), submitting applications for certain types of licenses or registering the company for tax purposes;
- No requirement to relocate to Belize in order to start a business here. While a visa is required for entry in many cases, there are no restrictions according to residency.
In case you would like to start an offshore company in another jurisdiction and you need specialized assistance, our partners who are experts in offshore company formation procedures can help you.
The following video also offers a useful guide:
Belize investment facts and figures
Belize’s expanding economy is led by its active tourism sector, construction and retail, along with wholesale and other sectors.
We present a set of statistical data concerning Belize that reflects the country’s development trend:
- The population in 2025 was estimated at 422,440, a 1.39% increase compared to the previous year;
- The number of overnight tourists increased by 30% in 2024, compared to 2023. This tourism growth rate is higher than that of other Caribbean destinations like Jamaica;
- According to data on new business density in Belize, in 2022 there were 4.125 businesses per 1,000 people aged 15 to 64 years.
Our team can give you more details about the investment climate and the relevant regulations on foreign direct investment in Belize.
Contact us for more information on how to open a business in Belize as a foreigner.