About Belize 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.
Our F.A.Q. About Belize Company Formation
