Success tips for Belize company formation in 2023
Healy Consultants recommends our Clients to read below to better understand the business culture and environment before commencing their Belize company formation.
- After applying for a trade license, the City Council will send an inspector to visit the work premises before granting a trade license approval. Due to the small area of Belize, the inspector usually arrives the next day and our Client should ensure their work premises are compliant for a timely company formation;
- Due to the weather and work environment, Belizean business attire is generally more relaxed. Therefore, our Clients can expect to go for a business meeting with a Belizean in casual attire;
- Belizeans do not view punctuality as a very important business etiquette and schedules are not strictly followed. Our Client should expect their Belizean business meetings to start later than planned;
- Internet access and mobile data is very expensive in Belize. Our Clients should prepare all documents and presentations prior to traveling to Belize for a meeting, to minimize the need to download data-heavy documents or presentations;
- Power failure is a common occurrence and hence, our Clients should expect interruptions during important discussions.
Interesting facts about Belize
- Belize gained independence from the United Kingdom only in recent years in 1981;
- Originally known as British Honduras, the country changed its name to Belize in 1973;
- Belize is the only country in Central America where English is the official language; More than 80% of the population speak English while other languages spoken include Mayan, Kriol (Creole), Garifuna, and Spanish;
- As a small country, Belize’s main economy was traditionally agriculture and agro – industry based. Tourism, construction and oil discovery have recently presented new opportunities for the country and company formation in these industries has grown;
- Major trading partners of Belize are the United States of America, Mexico, other countries in Central America and the European Union making it an attractive destination for company formation.