Belize free zones

Belize free zonesBelize counts with two type of free zones, i) Export Processing Zones and ii) Commercial Free Zones.

There are currently 3 EPZs, one next to the border with Mexico and two next to Belize City, the commercial capital of the country; and 2 CFZ, the most famous being the Corozal Free Zone, also located next to Mexico.

Advantages

  1. Any type of enterprise can be registered in EPZ and a CFZ: i) LLC and ii) Branch Offices;
  2. Companies registered within the zone are exempt from the following taxes:
    • Capital gains tax;
    • Custom duties on import and export;
    • Exercise tax;
    • Export duties;
    • Property tax.
  3. Companies will be exempt from applying from import and export license and will not be subject to import/export quotas.

Registration

  1. Applications must include:
    • Corporate Documents;
    • Detailed Business Plan;
    • Bank references;
    • Commercial References;
    • Environmental Clearance from the Department of Environment.
  2. Companies are required to lease or purchase a property within the Free Zones areas;
  3. Applications must be submitted to the Export Processing Zones/Commercial Free Zones authorities.

Export Processing Zones

  1. Export Processing Zones are suitable for i) manufacturing ii) processing and iii) assembly;
  2. For sale to individuals and businesses within the Belize territory, i) export/import licenses should be secured, ii) the merchandise must be verified and iii) taxes may apply;
  3. Companies are exempt from i) income tax, ii) withholding tax, iii) capital gains tax and iv) corporate income tax for the first 20 years of activity within the EPZ;
  4. Dividends payed by companies are exempt from tax;
  5. Companies are allowed to hire foreigners to compose 15% of the total work force.

Commercial Free Zones

  1. Commercial Free Zones are suitable for the following activities:
    • Commercial office;
    • Warehouse;
    • Manufacturing;
    • Insurance services;
    • Financial services;
    • Banking services;
    • Offshore financial services.
  2. Merchandise warehoused within the CFZ may be sold without a license as retail or wholesale to:
    • Foreign diplomats;
    • Ships that sock at Belize ports and are destined at foreign ports;
    • Direct export by sea, air or land.
  3. For sale to individuals and businesses within the Belize territory, i) export/import licenses should be secured, ii) the merchandise must be verified and iii) taxes may apply;
  4. During the first 10 years, companies in the CFZ are exempt from i) Income tax, ii) capital gains tax and iii) corporate tax;
  5. During the first 20 years, companies are exempt from tax on dividends.

Contact us

For additional information on our free zone company registration services in Belize, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
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