Fiscal Incentive Program
The Fiscal Incentive Program aims to encourage genuine investment in Belize for both existing and prospective investors through the granting of Customs duty exemptions. The program provides a legal and fiscal framework to stimulate productive economic activities that will ultimately contribute to the overall development of Belize.
A project proposal must be bounded and submitted in 4 copies to BELTRAIDE. Supporting documents* include but are not limited to the following:
- Formal letter of Application to the Executive Director
- Copy of Article of Association and Memorandum of Association
- Excel Listing of Items requested for Duty Exemption
- Economic Benefits, Financial Statements, Environmental Checklist, Local Banker’s reference/ Statement, Phases of Development, etc.
Contact BELTRAIDE for a comprehensive Application Protocols Sheet.
DURATION OF APPLICATION PROCESS:
Approximately 60 working days, upon full compliance of the stipulated Application Format.
|Custom Duty Exemption|
|Eligible Categories||Ineligible Items|
|Building Materials and Supplies||Ammunition and firearms|
|Specialized tools||Articles of Woods|
|Plant, machinery & equipment||Forest derivatives|
|Fixtures & fittings||Expendables & consumables (vary)|
|Office equipment & appliance||Management vehicles|
|Utility & transport vehicles||Salvaged vehicles|
|Agriculture machinery & supplies|
|Raw Materials & packaging material|
|Aircrafts & spare engines|
|Spare parts for qualified sectors|
- Company must be registered in Belize
2. Business activities must provide benefits to the economy of Belize
3. Government endorsed economic activities include the following:
Tourism related activities
Agricultures, Agro- processing, Forestry
Arts, Crafts, Culture
Computer, Information Technology
Handicraft, woodcarving, jewelry Production
- Security Companies
- Condominium development
Time Shares/ Fractional