economic Policy of Belize

The expansionary monetary and fiscal policies of the government, begun in 1998 led to high growth rates until 2007, with an average annual growth of around 4%. Floods in 2008 and the world economic crisis in 2009 ledto Nullwachtstum. 2010, GDP grew by 2.9%, where did the rest of the world economy in Belize especially in trade and the hospitality industry a positive impact, sectors that grew in 2010 by 6.2% and 5.5%. Nights spent by tourists decreased by 2.2%, and daily visits by cruise tourists by 8.4%, respectively. Imports of consumptiongoods increased by 1.2% in 2010, reflecting in particular reflect a 10% increase in prices of imported petroleumproducts. Despite the rise in prices for gasoline in 2010, inflation was moderate at 0.9%, after the country hadexperienced a deflation of 1.1% in 2009.

The budget deficit in 2010 amounted to around 2.5% of GDP. The debt amounted to about 80% of GDP.

Belize-Dollar - The national currency of Belize

 

The Belize dollar is the currency of Belize.
The dollar was introduced in 1864, when the country was a British colony under the name British Honduras.1973, with the name change of the country of Belize and the Belize currency in dollars has been renamed.
The value of the Belize dollar since its introduction is coupled directly to the U.S. dollar. 1 U.S. equals $ 1.97 BZD. The country is virtually always at a price of 1 2 converted.

 More info you can find here: https://www.centralbank.org.bz/ PO Box 852
Belize City
Belize

Types and Requirements of Offshore in Belize

Banking Licence

The following kinds of  licenses may be granted under this Act, namely:-

(a) Unrestricted “A” Class Offshore Banking Licence; and

(b) Restricted “B” Class Offshore Banking Licence.

16.-(1) No company shall apply for, or obtain, or be eligible to hold, an “A”

Class offshore banking licence under this Act unless it has at all times capital

equivalent to not less than five hundred thousand dollars or, in the case of a foreign bank, not less than twenty five million dollars.  The capital shall be

expressed in dollars or in any other foreign currency as the Central Bank may

approve in writing.

OFFSHORE BANKING ACT of Belize

 Definition of offshore banking

“Offshore banking” or “offshore banking business” means:-

(a) receiving, borrowing or taking up foreign money exclusively

from non-residents at interest or otherwise on current account,

savings account, term deposit or other similar account and

which according and subject to arrangement is repayable on

the cheque, draft, order, authority or similar instrument of the

customer, and investing the foreign money so received by

lending, giving credit or otherwise exclusively to non-residents;

or

(b) carrying on exclusively with non-residents such other activities

as are customarily related or ancillary to off-shore banking.

(2) Paragraphs (a) and (b) of subsection (1) above do not include banking

business which is carried on with non-residents by banks licensed under the

Banks and Financial Institutions Act.

These documents are needed to open a bank account in Belize

All of the above banks require the following documents or documents for opening a company bank account:

First  Photo identification of all parties to the account.
Second References on beneficial owners and signatories of the account.
Third A true, complete and up-to-date copy of the incorporation documents of the company (translated into English where
necessary).
4th Certified copy of Resolutions of the Board of Directors regulating the conduct of this account / InstructionSchedule for
Authorization Signatories.
5th Statements of Non-Resident Status for beneficial owner (s) or majority shareholder.
6th Indemnity for Facsimile, Email and Internet instructions.
7th Signed copy of the bank's depository agreement.
8th ProAxis Internet Banking Agreement.
9th Anticipated Activity for New Accounts.
10th Declaration of Source of Funds.
11th Due Diligence Consent form.
12th Copy of Utility bill .

Economy overview of Belize

According to government statistics, the trade deficit widened to 173.8 million USD (2004) from. In total over 2004 imports were valued at 480.8 million USD in exports amounting to USD 306.9 million.

The U.S. has throughout Belize's trade volume in 2004, a dominant position (exports and imports 51.6%39.8%), they follow the UK (Belizean exports: 37.3%), Jamaica (exports: 6.3%), Thailand (exports: 4.7%) and Mexico (imports: 11.8), Cuba (imports: 5.5%) and Guatemala (imports: 3.2%) .. However, the extensive "small border trade" with Mexico (ie, primarily Mexican imports) being acknowledged. In terms of exports playsalongside agricultural and fishery products in various stages of the textile sector (commission processing for USA in May 2000 under the preferential terms extended by the Congress of the "Caribbean Basin Initiative") play a role.
Trade with Germany in 2005 with German exports and imports of 7.591 million EUR 953,000 EURquantitatively of little importance.

Corporation law in Belize

Belize, formerly known as British Honduras, is an independent democratic Commonwealth country on the Caribbean coast. Since its independence from Britain in 1981, it has a stable and democratic government.
The capital is Belmopan, but the most important commercial center of Belize City, which is located on the east coast near the international airport. The total population of Belize is around 300,000 inhabitants, of whom about 60,000 live in Belize City.
Belize is an internationally recognized offshore center. Its main advantages are the rapid registration ofcompanies (24 hr) and the high degree of confidentiality, the bietet.Belize the country offers the complete tax exemption, provided the revenues are not generated directly in Belize. anonymous company incorporation and administration of a Belize offshore company is possible.