Académique Documents
Professionnel Documents
Culture Documents
BELIZE
May 2007
TABLE OF CONTENTS
1. GENERAL INFORMATION..................................................................................... 3
2. THE ECONOMY........................................................................................................ 5
2.1 Structure of the Economy ................................................................................... 5
2.2 Recent Economic Performance........................................................................... 5
2.3 Balance of payments ........................................................................................... 5
2.4 Overview of Trade .............................................................................................. 5
2.5 Belize Trade with CARICOM ............................................................................ 6
3. GENERAL MARKETING FACTORS...................................................................... 7
3.1 Distribution and Sales Channels ......................................................................... 7
3.2 Use of Agents/Distributors ................................................................................. 7
3.3 Franchising.......................................................................................................... 7
3.4 Promotion............................................................................................................ 7
3.5 Transportation ..................................................................................................... 7
4. MARKET ACCESS CONDITIONS .......................................................................... 9
4.1 Customs Tariffs................................................................................................... 9
4.2 Free Trade Agreements..................................................................................... 10
4.3 Non-Tariff Barriers ........................................................................................... 10
4.4 Import Documentation ..................................................................................... 10
4.5 Labelling and Marking Requirements .............................................................. 11
4.6 Sanitary and Phytosanitary (SPS) Measures..................................................... 11
4.7 Prohibited and Restricted Imports .................................................................... 13
4.8 Standards........................................................................................................... 13
4.9 Product Certification......................................................................................... 13
5. INVESTMENT PROFILE........................................................................................ 14
5.1 Investment Incentives Schemes ........................................................................ 14
5.2 Foreign Investment Regime.............................................................................. 14
5.3 Free Trade Zones .............................................................................................. 15
6.1 Right to Private Ownership............................................................................... 17
6.2 Establishing an Office....................................................................................... 17
6.3 Work Permit Requirements............................................................................... 18
6.4 Intellectual Property Rights .............................................................................. 18
6.5 Conversion and Transfer Policies ..................................................................... 19
7. CULTURAL PRACTICES....................................................................................... 20
7.1 Business Customs ............................................................................................. 20
7.2 Entry/Exit Requirements:.................................................................................. 20
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airport generally are lower than from the coming from well-known ‘high-risk’
international airport.1 areas (parts of South America and
Africa) are required to get the Yellow
Ports: Fever vaccination before entering the
• Belize City country. Visitors may at their discretion
• Big Creek take precaution by receiving medication
• Corozal Town before leaving for their trip.
• Punta Gorda
Holidays:
New Year’s Day Jan 01
Baron Bliss Day Mar 12
Good Friday Apr 06
Holy Saturday Apr 07
Easter Monday Apr 09
Labour Day May 01
Sovereign’s Day May 21
National Day Sep 10
Independence Day Sep 21
Pan American Day Oct15
Garifuna Settlement Day Nov 19
Christmas Day Dec 25
Boxing Day Dec 26
http://en.wikipedia.org/wiki/Transport_in_Belize
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GDP - real growth rate: 4.0% (2006)
GDP - per capita (PPP): $8,400 (2006) https://www.cia.gov/library/publications/the-
world-factbook/geos/bh.html
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https://www.cia.gov/library/publications/the- http://www.imf.org/external/np/ms/2006/082906
world-factbook/geos/bh.html .htm
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2.4.2 Imports
http://www.state.gov/r/pa/ei/bgn/1955.htm
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http://www.state.gov/r/pa/ei/bgn/1955.htm
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Consistent with U.S. Department of Ports in Belize City, Dangriga, and Big
Commerce guidelines, the Economic and Creek handle regularly scheduled
Commercial section of the United States shipping from the United States and the
Embassy in Belize can assist interested United Kingdom, although draft is
American companies find agents and limited to a maximum of 10 feet in
distributors in the country through the Belize City and 15 feet in southern ports.
International Partner Search (IPS) American Airlines, Continental Airlines,
service7 U.S. Air, Delta Airlines, and TACA
provide international air service to
3.3 Franchising gateways in Dallas, Houston, Miami,
Charlotte, Atlanta, and San Salvador. 9
Although many Belizeans are familiar
with most popular U.S. brand names, Belize has four major asphalt-paved
franchising remains rare, since two-lane roads: the Hummingbird
competition in the local market is more Highway, Southern Highway, Western
often based on price than name Highway, Northern Highway. The
recognition or perceived quality remaining roads are unpaved, rough and
standards. in poor condition. A 9-mile stretch of the
Southern Highway near Big Falls is
Franchising in Belize currently extends
to just a few well-known brand names, 8
Doing Business in Belize: A Country
Commercial Guide for U.S. Companies, 2006.
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Doing Business in Belize: A Country http://www.state.gov/r/pa/ei/bgn/1955.htm
Commercial Guide for U.S. Companies, 2006.
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4. MARKET ACCESS
CONDITIONS The rate of duty applicable to Motor
Vehicles is according to the engine
4.1 Customs Tariffs capacity in Motor Cars; according to the
weight for Pickup and Trucks, and
Custom Duties are applicable according according to the seating capacity in Vans
to the rates set out in the Customs Tariff and Busses for Public Transport.
and Trade Classification, Chapter 48
Laws of Belize, First Schedule. The Imports from CARICOM Countries are
Belize Customs Tariff is modeled from exempted from the payment of import
the Harmonized Description and Coding duty provided the importer produces a
System (HS). Certificate of Origin from the country
within the Common Market certifying
The rates are applied based on the that the goods were produced within the
Customs Value (Cost, Insurance, region of the common market. Some
Freight). Applicable rates range from 0 commodities imported from CARICOM
to 45 percent with the majority of pay Revenue Replacement Duty (RRD).
commodities attracting a rate of 20 There are restrictions for certain
percent. commodities imported from CARICOM
that require an Import License from
Goods in Primary Forms, Machinery and Ministry of Trade prior to importation. 10
Parts, Raw Materials, Textile Fabric,
Chemicals, Office Equipment (except There are some items that attract a
Computers and Accessories – 0 percent) Revenue Replacement Duty (RRD)
Hand Tools, attract rates of 0 or 5 ranging from 5 to 40 percent based on
percent based on the customs value. the aggregate of the Customs Value and
the Import Duties.
Customs duties and taxes are collected
based on the value which is derived from Sales Tax is charged at a rate of 9
the value stated on the invoice, receipt or percent based on the aggregate of the
other proof of purchase. The dollar value customs value and any other relative
must be converted from the foreign duty (Import Duty and RRD if
currency stated on the proof of purchase applicable) and 14 percent on Alcoholic
document to Belize (BZCY) currency. Beverages (including Beer), Petroleum,
The Belize currency is tied to the US Tobacco and Tobacco Products, large
dollar at $2.0175 BZCY to $1.00USD. fans, Air Conditioners, Yachts,
Other foreign currency rates are subject Jewellery, Perfumery, Cosmetics,
to change and are updated weekly in Vehicles over four cylinders, Stoves and
conjunction with the Central Bank of refrigerators over 15 Cu. ft.. Some
Belize. commodities are exempted from the
payment of sales tax at the time of
An exchange rate for the conversion of importation.
foreign currency to BZD is published
weekly for the convenience of importers
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and customs brokers. http://www.customs.gov.bz/duty.html
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http://www.lowtax.net/lowtax/html/jbzcfir.html Doing Business In Belize: A Country
Commercial Guide for U.S. Companies, 2006.
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organizations that have a similar focus, access to the market place of goods that
BAHA can dovetail their work are likely to be a danger to the health or
programme to complement what food safety of consumers.
safety programmes or tasks need to be
done in the country with less duplication 4.9 Product Certification
of roles and effect conservation of scarce
financial resources. Many of the food A certification programme, based on the
safety programmes and plan of work implementation of the Hazard Analysis
established by BAHA has been and Critical Control Points (HACCP)
augmented and supported by food safety system was established for
international organizations (e.g. FAO, the fish and fishery products processing
WHO/PAHO, OIRSA, IICA) having the industry in Belize which enabled Belize
same focus and wanting to achieve to export these products freely to both
similar goals. Partnering with these the USA and the European Union (EU).
agencies avoids duplication and The farm to table approach of BAHA’s
strengthens collaborative efforts in food food safety program, provides for food
safety. 13 safety assurances along the entire chain,
from the production site on the farm
4.7 Prohibited and Restricted with the application of Good
Imports Agricultural Practices (GAP), to the
processing plants’ implementation of
Certain goods are generally not allowed Good Manufacturing Practices (GMP),
into Belize unless they originate from Standard Sanitary Operating Procedures
another CARICOM member state. (SSOP) and HACCP systems that is
verified and certified by BAHA’s
The list includes peanut butter, jam, inspectors and sanitary auditors. Other
jellies, matches, pasta, beans, rice, wheat certification programmes, such as one
flour, and pepper sauce. for meat processing plants and one for
fruit and vegetable packing plants are
Beans and rice, however, like many currently being developed in
other locally produced agricultural collaboration with industry and other
products, may not be imported at all regulatory agencies. 14
whenever there is a surplus of these
products on the domestic market.
4.8 Standards
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http://www.baha.bz/food_safety.html http://www.baha.bz/food_safety.html
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Belize’s investment policy is codified in Tax holidays are normally offered for 5
the Belize Investment Guide, which sets years, extensible for up to a further 10
out the development priorities for the years; but in the case of agricultural
country. In spite of the establishment of investment may be for up to 25 years.
the Belize Trade and Investment However, there is a provision that the
Development Service (BELTRAIDE) to Minister for Economic Development, on
serve as a one-stop shop for export and application made by the company in a fit
investment assistance, bureaucratic red and proper case, can review the
tape may still be encountered when company’s operations and renew the tax-
seeking government fiscal incentives. holiday period for a further term not
BELTRAIDE continues to encourage exceeding ten years.
investment in the following sectors of
the economy: Duty exemptions are offered to every
company which has been granted an
• Agriculture, agro-industries, food Approved Enterprise Order
processing and livestock. (Development Concession) to import
• Tourism and tourism-related into Belize, free of import duty, and
industries. revenue replacement duty, a wide range
• Aquaculture and horticulture. of industrial machinery, construction
materials and raw materials. Exemption
• Light-manufacturing industries and
is normally given for 15 years, with a
offshore assembly plants, and
10-year extension. 16
• Forestry and forestry-based
industries. 15
5.2 Foreign Investment Regime
Investment incentives are contained in
The Government of Belize lists the
the following legislation:
following criteria according to which it
judges foreign investment:
• Fiscal Incentive Act, No. 6 of 1990;
• International Business and Public
• creates employment opportunities;
Investment Companies (IBC) Act
• makes maximum use of indigenous
1990;
raw materials;
• Mines and Mineral Act 1988;
• earns foreign exchange;
• Export Processing Zone (EPZ) ACt
• results in increased production;
1990;
• introduces state-of-the-art
• Commercial Free Zone (CFZ) Act
technology;
1994.
• enhances local management skills;
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Longer term incentives are offered for 5.3.2 Export Processing Zones (EPZ)
the location of industries in the less-
developed rural areas of the country and Three locations have been designated as
for export-oriented projects or projects EPZs under the Export Processing Zone
utilizing technology not previously Act. The San Andres EPZ occupies 28.5
introduced into Belize. The government acres of land in the northern section of
prefers joint venture and partnership the country, only 8 miles away from the
investments, but does permit one Mexican border, right next door to
hundred percent foreign ownership of an NAFTA. The other two Zones are both
enterprise. 17 located approximately 9 miles from
Belize City, the country's commercial
capital. The EPZ adjacent to the Philip
5.3 Free Trade Zones Goldson International Airport covers
four acres, while the Price Barracks EPZ
5.3.1 The Commercial Free Zone covers 14 acres.
The Commercial Free Zone Act 1994 In the EPZ, facilities are provided for
established a Commercial Free Zone at activities in manufacturing, processing,
Corozal to attract foreign investment. packaging, warehousing and the
The Zone provides facilities for various distribution of goods and services. In
activities including manufacturing, fact, amendments made to the legislation
processing, packaging, warehousing and in 1994 provide investors with the added
distribution of goods and services. option of constructing their own
facilities and developing infrastructure
Businesses established in the Free Zone within an EPZ, including independent
are free of foreign exchange restrictions utility installations. This option enables
and receive a range of other benefits an EPZ to enhance its economic
including duty exemptions and tax development, since it does not
holidays. necessarily have to use the electricity or
telephone facilities provided by the two
Goods and supplies entering and leaving local monopolies, The Belize Electricity
the Free Zone for commercial purposes Limited and The Belize
are exempt from import or export duties, Telecommunications Limited
quotas, stamp duties and revenue respectively.
replacement duties.
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http://www.lowtax.net/lowtax/html/jbzcfir.html
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http://www.lowtax.net/lowtax/html/jbz2tax.html
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Doing Business in Belize: A Country http://www.lowtax.net/lowtax/html/jbzlab.html
Commercial Guide for U.S. Companies, 2006.
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http://www.state.gov/e/eeb/ifd/2007/80680.htm http://www.state.gov/e/eeb/ifd/2007/80680.htm
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http://www.lowtax.net/lowtax/html/jbzcfir.html http://www.belize.gov.bz/weather_travel.html
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