Belize Company Registration

Belize, only 8,867 square miles in size, is situated on the northeast coast of Central America. The Caribbean Sea lies to the east and from the air its turquoise waters are clear, allowing the multicolored coral formation of the Great Barrier Reef to be easily observed. Coral islands called cayes, covered with stands of mangrove trees, dot the coast. Lying in aquamarine and jade-colored bays, these cayes protect the jungled coastline from the ravages of the sea.

North of Belize lies the Yucatan Peninsula of Mexico. The Rio Hondo, which empties into Chetumal Bay, is the border between the two countries. The eastern border is demarcated by a surveyed line through the jungle separating Belize from the El Peten Department of Guatemala. To the south, the Belize/Guatemalan border is the Rio Sarstoon which flows east to the Caribbean Sea. The country is divided by the eastward flowing Belize River which is a major transportation route for native goods. The north half of the country is made up of synclinal folds of low lying, parallel limestone ridges running NNE to SSW. These jungle covered bridges are the spines of fossil coral reefs. In the valleys between run the perennial rivers, the Hondo, Nuevo, and Freshwater Creek. The Northern Peten and Campeche Regions of the Yucatan are drained by these river basins. This area, known as the "Maya Heartland," contains the classic Maya center of Tikal as well as many minor ceremonial centers and hundreds of occupation sites. The lagoons along the Nuevo River and Freshwater Creek are also areas of Maya site concentration. Great mangrove swamps line the northern coast, extend inland for many miles, and cover much of the northern district. For information on getting from Cancun to Corozal and Belize

Geography:
Area 22,963 sq km (8,866 sq. miles) slightly larger than Massachusetts. Capital: Belmopan (pop. 4,500). Belize borders the Caribbean Sea along the eastern shore of Central America just below the Yucatan Peninsula. It is bounded on the north and west by Mexico and on the south and west by Guatemala
The Economy:
A number of Government and international development agencies are involved in assisting the Government of Belize in its development through economic cooperation programs. These include the U.K. Government, the Canadian International Development Agency (CIDA), the United States Agency for International Development (USAID), CARE, United Nations agencies, the European Development Fund (EDF) and the Caribbean Development Bank (CDB).

The economy of Belize was traditionally based on forestry, mainly the export of logwood, mahogany and chicle. The country's economy is now based on agricultural development. But in recent years there has been resurgence in forestry. The main exports arc sugar, citrus, bananas, fish products (mainly lobster), timber and garments.

Dairy farming is growing in importance and the livestock industry continues to grow.

Several oil companies hold exploration or prospecting licenses. Oil was discovered in the north of the country in 1981, but not in commercial quantities.

Tax concessions and other incentives encourage the development and diversification of manufacturing industries which include clothing and textiles for export, plywood and veneer manufacturing, matches, beer, rum, soft drinks, furniture, boat building, and battery assembly.

Currency and Banking:
The currency unit is the Belize Dollar (Bz$). The fixed rate of exchange is Bz. $2.0 to US $1.0 There are four commercial banks (the Belize Bank Ltd., Barclays Bank PLC, the Bank of Nova Scotia and Atlantic Bank Ltd.), and a Government Savings Bank.

A Central Bank has been set up to replace the Monetary Authority of Belize. Recent amendments to the Banking Act permit offshore banking.

Finance:
Customs duties account for more than half of total revenue. The next important source is income tax, which accounts for more than a third. The main items of expenditure are agriculture, public works, education and defense. Belize does not receive any external aid for its recurrent revenue. Capital expenditure is financed through economic cooperation programs with the U.K., Canada and U.S.A. and the loans from the Caribbean Development Bank. Belize received Bz. S20.0 million under U.S. Caribbean Basin Initiative to assist in private and public sector projects.

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Key Information on Belize Company Formation