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.

APPLICATION FORMAT

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
Marine crafts
Aircrafts & spare engines
Spare parts for qualified sectors

 

WHO QUALIFIES?

  1. 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
    Health Care
    Computer, Information Technology
    Manufacturing
    Handicraft, woodcarving, jewelry Production
    Auto Rental 

 

WHO DISQUALIFIES?

  1. Security Companies
  2. Condominium development
  3. Casinos

Time Shares/ Fractional

Wholesalers/ Retailers