Step #3: Formalize your business by registering it. This unique process via the commercial register on the ground floor of the Garden City Hotel Building in Belmopan is the right place to accomplish this task. Bring a valid Social Security card for each owner or partner plus $25. Save time by visiting the site before you go. Download the forms and take them with you. Have you started a business in Belize? Share your experience in the comments below or answer the questions here to be featured in an interview! You are looking for an export company in Belize. The products will be Mayan ceramics and plants for cosmetic research. Who in Belize would be interested in meeting to discuss this opportunity? (2) Registration in the commercial register of Belmopan, either as a local company or as a branch of an existing foreign company. If you do not have permanent residency, the Business Names Act states that you need a Belize business partner. You will also need an identity card, the corresponding form (Form One for a sole proprietor or Form Two for a partnership) as well as payment of the current tax. Belize offers a unique and business-friendly environment with a stable government, an educated population and a business-friendly atmosphere. English is the official language, and the Belizean dollar is pegged to the US dollar, making it easier to do business in Belize. With its many POEs, Belize also offers logistical advantages to companies engaged in regional trade.

This guide provides an overview of the steps it takes to start a business in Belize, from registering the company to obtaining licenses: The World Bank ranks us 152nd out of 183 economies when it comes to how easy it is to start a business. This is not very encouraging, given that the country is in the dubious company of Suriname, Guyana and Haiti. There`s something special about Belize, and it`s not just tourists who have figured it out. In addition to beaches, clear waters and sunshine, Belize offers many financial benefits to business owners and investors. The black foreign exchange market is dynamic in Belize. Many local businesses want foreign currency and sometimes pay a premium of up to 7% for clean U.S. notes or bank transfers. Belize`s two largest industries are tourism and agriculture.

The fishing and sugar cane industries are generally reserved for Belizeans. Most of the largest and most luxurious companies in the tourism industry are foreign-owned. All other industries are fundamentally underdeveloped or underutilized, so there are many opportunities to enter and conquer these markets. Step #7: Register with the government`s Income Tax and Sales Tax Department. You will receive a unique tax identification number (TIN). If you`ve started a business in the past, you`re familiar with this process. Whether you intend to work alone, in partnership or in partnership, your TIN must be added to all earnings, whether cash or in-kind benefits and services. His legal and accounting team is familiar with the Belize Income and Corporate Tax Act, Chapter 55 and the Social Security Act, Chapter 44 of the Acts that affect business owners who intend to hire employees. They will intervene so that you do not get into trouble with the Belize Social Security Board. To obtain a tax identification number, you must provide the company name, company type, and business address.

You will also need to provide a copy of your passport or driver`s license. If you`re thinking about doing business in Belize, here are some steps you might want to consider when you get started: The Government of Belize offers many incentives to companies that want to help improve the economy by providing jobs to Belizeans. These include tax exemptions and exemptions from import and export duties. Anyone who wants to earn an income in Belize must obtain some sort of work permit. The cost of this varies greatly, so our best advice is to contact one of the local lawyers to find out the different types, prices, and steps to get the type of approval that suits your needs. According to BELTRAIDE, Belizean foreigners are not allowed to own a business that is not registered under the Companies Act and/or the Business Names Act. Once your business has obtained its business license, you must register the business with the Government Sales Tax Department and the Income Tax Department for various administrative purposes. Once the registration process is complete, the company is assigned a unique tax identification number (TIN). This specific TIN number is used for various administrative processes and tax related issues such as general sales tax (GST), excise duties or customs processes. *According to the laws of Belize, any company or individual that has a place of business in Belize must register the name of the company to set up a business in Belize or operate a business within the limits of a city or town, you will need a business license. Businesses operating in the countryside or in villages do not need it.

Foreigners usually open a 250-year-old local business to run their businesses. What has prevented you from starting a business in the past? Maybe you couldn`t raise money, there was too much competition, your marketing hook, your product or service idea wasn`t feasible – or you just couldn`t meet the legal challenge. Time has passed and you are no longer in the same place. The idea of starting this business in Belize sounds perfect. How can you plant your business roots in this welcoming nation? Follow our tips to turn your unique idea into a thriving business. You can apply for help at the Belize Small Business Development Center, which provides free advice to small start-ups, such as business plan development, loan support and workshops. Belize is a well-established offshore banking jurisdiction, but companies operating in Belize generally cannot benefit from these tax-exempt structures. A company operating in Belize is ashore and is subject to a variety of taxes and fees.

But any company in any country can be legally structured to take advantage of two or more jurisdictions, one or more of which may be an offshore entity. The call center and entertainment industry is starting to evolve and grow rapidly, but they are still relatively small industries. With so much land, Belize is ideal for opening up new grain markets that do not exist in Belize. Some of our biggest plant products are citrus fruits, bananas and rice, and we have recently started exporting more crops such as papaya and chocolate. I would like to know whether such a business would operate there and whether it is necessary to move goods to and from Canada. If we could set up a regular service that would be profitable enough to survive on a few trips a month Hi Jeff, my name is Garry Helm and I`m also Canadian and I`m making my first visit to Belize in December (2015) I have a very unique business here in Canada and I did a bit of test marketing in Costa Rica a few years ago and I got a good response and I think the product would be used in all Central American countries.