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Doing Business in Belize

Posted by Valeria Espinoza on Feb 12, 2012 9:30:07 AM
Valeria Espinoza

Business in BelizeLiving on a fixed income in the United States can be a daunting proposition for retirees. They are expecting the amount they pay in taxes to increase. If they have extra money they would like to put into a small business, they are not doing so because they are waiting for the economy to improve first. Americans do not have to worry about their taxes or wait for the United States economy to improve before they invest in a business. They can do business in Ambergris Caye, Belize.

The Thriving Economy of Belize

The Caribbean island of Ambergris Caye has a thriving economy. The government has taken important steps to ensure that business and economy in Belize has a welcoming atmosphere for everyone who wants to invest there or start a small business. The country is particularly welcoming to foreigners who have money they would like to invest.

Private Business Is Encouraged

What Americans will find when they arrive in Belize is that they will have no impediments to starting the business of their choice. The people speak English. Therefore, all business can be conducted without any language barriers. Furthermore, the people are highly educated and ready to be the workforce that a new business needs. On top of that, the government is very friendly to the private sector with fewer stifling rules and regulations, and this is something that cannot necessarily be said of the United States.

The Many Industries in Belize

In Belize, the economy has expanded to include the agricultural industry, the fishing industry, the tourism industry, the banking industry, the oil industry and the manufacturing industry. With so many options, foreigners have many different areas to go in, and they do not have to worry that their efforts will not be long-lasting. The government encourages business to serve the needs of Belize as well as the countries around it for many years to come.

One particularly durable industry is the furniture industry. Belize is a country with many different types of trees in its woods where loggers have been practicing their trade for centuries. Furniture manufacturing is such an important industry that most of the furniture one will find in Belize was made right in the country.

The Banking Industry

The banking industry rose to meet a growing demand for offshore accounts. Belize stepped in to fill this need with bank accounts that promise people the privacy they can no longer receive from other offshore accounts. For this reason, many Americans have chosen Belize as the place to set up their trusts, their corporations or their bank accounts.

The Oil Industry

Belize appears to have a future in the oil industry with oil being a major export. A full 30 percent of the gross domestic product (GDP) comes from the oil industry, and the country currently receives $500 million per year from it. Current belief is that Belize will one day be comparable to Kuwait in Central America.

Doing business in Belize is a great alternative to waiting for the United States’ economy to improve. People can even choose to live in the area in the condominium homes of the Grand Baymen community where they will have all of the comforts of home. Being in this country gives them a welcoming atmosphere for business and a less expensive environment. It seems that Belize has the answers that Americans are seeking.

Topics: Investing in Belize

Valeria Espinoza

Written by Valeria Espinoza