12

Belize Investors Manual 2009

Embed Size (px)

DESCRIPTION

 

Citation preview

Page 1: Belize Investors Manual 2009
Page 2: Belize Investors Manual 2009

Alleyes onBelize. Belize, the small English speaking country on

Central America’s pristine north-eastern coast, is poisedto become an international location for niche marketbusiness.

. In a world increasingly seeking natural products,

where organic, fair trade, and eco-labelled certificationsfetch price premiums; Belize’s natural assets, devel-opment policies and pro-business investment climatehave created an ideal destination for investors looking

to differentiate based on quality.

. No other country has so emphatically proclaimed thisniche-oriented destiny.Belize’s government, recognizedby investors as non-intrusive, supportive and pre-dictable, is wholly committed to creating the conditions,policies and institutions to continue supporting thecountry’s «niche-oriented» development model and pre-serving the country’s distinctiveness.

. There is an increasing demand for «made in Belize»products and services, for the simple reason that theycarry an aura of quality and distinctiveness that differ-entiates them in the eyes of consumers. The list of premi-um driven and niche-market oriented products andservices include: “fair-trade” branded cocoa, orangejuice, exotic pepper sauces and experience-basedtourism.

. Various economic sectors are being targeted by investorsattracted by Belize’s natural resources, convenient legalframework and export-oriented infrastructure.

Tourism services and tourism-related activities, agri-business, aquaculture, furniture manufacturing andinternational financial services are among the economicsectors that are focusing the interest of potential nicheinvestors around the globe.

Page 3: Belize Investors Manual 2009

Belize’s Natural FactsSize: Belize's total land massmeasures 8,866 square miles. Its border with the CaribbeanSea stretches for 240 miles.

Borders: Belize is bordered tothe North by Mexico,South andWest by Guatemala,and by the Caribbean Sea on its East.

Marine Life: Belize’s coastal areas harbour manatees,dolphins,whale sharks,hawks-bill turtles,crocodiles,iguanas,shorebirds,and diverse fishspecies. Belizean waters are also home to over 30 species ofcommercially important fish,while the barrier reef havens 14 spawning sites for endan-gered fish.

Land Animals: The unspoiledrainforests and savannas of Belize house five species ofbig cats,spider and howler monkeys,tapirs,peccaries,andnearly 600 bird species.

Plant Life: The majority ofBelize's land area consists of tropical rainforests,which are home to an astonishingnumber of native floweringplants (including 250 species oforchids and more than 220species of trees).

. In Belize, business and nature meet, creating an attrac-tive and sustainable investment climate for investors seeking to develop products and services that cater to markets that value nature.

. Belize is characterized by an incredible amount of biolog-ical and geographic diversity. The mainland, roughly the size of Belgium, contains tropical rainforests, coastalforests and grassland that host rare tropical flora andfauna. The Belizean shore is distinguished by its more than 100 coastal islands and the largest coral reef in theHemisphere: The Meso-American Barrier Reef meas-uring 290 kilometres.

. Weather conditions extend the location advantages ofBelize. Mild average temperatures of 80°F are made even more pleasant by their low degree of variability. The average ocean temperature of 85°F also has mild temperature fluctuations due to the protective effect of the barrier reef.

. Belizean products and services benefit from this «pristineaura» and carry a premium flavour to consumers in keymarkets in the U.S. and Europe.

Niche by nature

Maya Gold Project

« Green & Black's Limited has

been buying organically grown and

Fairtrade certified cacao from Belize

for over 10 years.The beans are of

such quality that we produce choco-

late bars, hot chocolate and other

products that merit their own label,

«Maya Gold». Our brand has been a

great success on the world market,

so much that we are working closely

on our Maya Gold Project with the

Toledo Cacao Growers Association,

a farmer owned group, to expand

production from 30 tonnes to more

than 500 tonnes annually.

Various departments and agencies

of the Government, particularly the

Ministry of Agriculture and the

Belize Agricultural Health Authority,

have worked hand in hand with us to

establish the new cacao orchards.

This will be critical for the future as

the crop begins to produce at much

higher levels. Our confidence in this

combined effort is so high that we

have committed to pay a premium

price for an extended time and

expect that we will be active for

many years to come. »Gregor HargroveProject Manager

Page 4: Belize Investors Manual 2009

Fair Trade makesthe difference

Maya Gold

« When we started making choco-

late it soon dawned on us that

organic and fair trade were inextri-

cably linked.What’s better for the

planet has to be better for the

people working on it. Unlike planta-

tion-grown cacao, our farmers grow

their cocoa trees under the shade

of indigenous trees alongside other

crops, including avocado, pineapple,

coffee, papaya and bananas.The

canopy of shade trees - mahogany,

cedar and teak - are grown above

the cacao trees and ginger is occa-

sionally grown underneath. »Craig SamsJosephine FairleyOwners of Maya Gold, the first product to be awarded the Fair Trade mark in Belize.

Belize Development Trust

« There are no exotic tropical fruit

wines in the USA that I know of.

This would be a gourmet item retail-

ing at high prices.There is no reason

one couldn’t cater to the exclusive-

ness of wealth and price status, in

selling such gourmet rare wines. »Ray Auxilou

The Nature Conservancy, in partner-

ship with the U.S. government and the

government of Belize, orchestrated a

landmark debt-for-nature swap in

August 2001.This historic deal for-

gives approximately half of Belize's

debt to the United States in exchange

for protecting 23,000 acres of tropical

rainforest, supporting local environ-

mental organizations and investing

in Belize's protected areas.

. Nature has blessed this country with unique natural riches.

. Its government is committed to preserving this endow-ment and leveraging on these natural assets to promotethe private sector growth that will ensure long-term sus-tainability. This vision is supported by a legal frameworkdesigned to promote non-destructive production methodsand a private sector committed to delivering high-qualitygoods and services.

. Belize’s government is proud to be viewed as a model of adeveloping country able to protect its environment andresources, while simultaneously welcoming foreign busi-ness and trade. The country’s success in its approach to economic growth has been supported by a 4.8% averageannual GDP growth from 1993-2003. The government’sfocus on ensuring an educated labour force has seen Belizeachieve a 94.1% literacy rate.

USA 87 %

Australia 3 %

Canada 10 %

Tourism 56%

Services 6%

Medical/Education 9%

Manufacturing 29%

Foreign Direct Investment 2004 (%)

By Sector Source:

Foreign Direct Investment 2004 (%)

Country of origin Source: Beltraide

Niche by vision

Page 5: Belize Investors Manual 2009

Foreign DirectInvestment (Bz $ mn)

2 5 0

2 0 0

1 5 0

1 0 0

5 0

0

Jan-June 2002 2003 2004

Belize benefits greatly from prefer-

ential duty-free access to major mar-

kets under the following trade

agreements:

Caribbean Basin Initiative (CBI ) for the

United States, the Cotonou Agreement

for the European Union and the CARI-

COM Market.These agreements allow

Belizean products to enter these mar-

kets duty-free and without other restric-

tions.

The Fiscal Incentives Act was designed to encourage genuine

investment in Belize through tax holi-

days and duty exemptions.The Act

provides both existing and prospective

investors with the legal and fiscal

framework to stimulate productive

economic activities.

The Fiscal Incentives Act was amended

in 2002 to encourage genuine invest-

ment in Small and Medium Enterprises

(SME) through partial or full duty

exemptions.The Act provides both

existing and prospective investors with

the legal framework to engage in

economic activities.

. If you think niche, Belize is your way to grow. A strategiclocation. A stable economy. The only English-speakingcountry in Central America. An attractive legal frame-work for investment. Investment Incentives. An educatedand hard-working labour force. Access to markets.Political stability.....The list of reasons to invest in Belizeis a long one.

. Belize is rapidly becoming an attractive and profitablelocation for investors looking to differentiate their prod-ucts and services based on quality. The natural charac-teristics of Belize support the development of businesses that compete on quality rather than those that competesolely on price or in commoditized markets.

. Belize’s strengths fit well into global consumption andeconomic trends. As tourists, once content spending theirleisure sunning at the beach, seek diverse experience-based destinations, as once-commoditized goods such asoranges are divided into categories like organic and eco-labelled, and as buyers consider the labour conditions and terms of trade under which their purchas-es were produced, Belize finds its self well-positioned totake advantage of these trends.

. Belize is much closer than you think. In terms of dis-tance, culture, language, and business practices, Belize is close.

. Foreign investors already operating in Belize refer to the ease of entry and small degree of government andadministrative barriers to business. Ownership and currency regulations, present in other countries of theregion, are absent in Belize, which allows firm’s to be fully owned by foreigners and for the repatriation of profits and dividends. And to prove what these investorsare saying, all you have to do is look at the high levels of reinvestment in Belize over the past years.

Brooks Tropicals

« Our Belizean papayas carry the

Brooks brand as recognition of their

quality, but they also mention their

Belizean origin which is recognized

as a premium by our customers.

Belize has provided us with a stable

regulatory environment, an English

legal system, a willing, diligent and

hard-working workforce and mana-

gerial talent. Such environment has

allowed our investment to grow sus-

tainably during the 15 years that we

have been growing and commer-

cializing our Belizean papayas.

Our exports have grown at a 50%

yearly rate since 1998.All our

employees are Belizean as we have

not been in the necessity to bring

expatriates to manage our business.

We have been reinvesting in Belize

because the country offers a stable

and predictable business envi-

ronment and a pro-investment

government. »Craig WheelingChairmanBrooks Tropicals

Active since 1928, Brooks Tropical is

today’s Florida’s largest tropical fruit

and vegetable supplier. Since 1995,

the firm’s Belizean Papaya operation

increased thirty-fold with 1000 acres

currently producing the Caribbean

Red Papayas.The subtropical climate

found in Belize is ideal for the culti-

vation and production of delicate

tropical fruits and vegetables which

require consistently high tempera-

tures and levels of humidity.

Niche for business

Page 6: Belize Investors Manual 2009

The human history of Belize could be divided into four periods: the ancient Maya epoch, the Spanish conquest, the British colonial period and modern Belize.

This timeline highlights the key moments of these four eras.

300 BC to 900 AD Classic Maya period, when what is now Belize was the heart of the Maya empire with a population of one million.

1508–1511 First Europeans — Spaniards — come to Belize; Maya resist.

1798 Baymen defeat Spanish at Battle of St. George’s Caye on September10, Belize’s National Day.

1838 Slaves emancipated.

1862 Britain declares British Honduras a colony and a member of British Commonwealth.

1931 Worst hurricane in Belize history strikes on September 10, kills about 2,000.

1949 Protests against devaluation of British Honduras dollar lead to formation of People’s United Party headed by George Price, sowing seeds of independence.

1973Name changed to Belize; capital moved to Belmopan from Belize City.

1981On September 21, Belize becomes fully independent member of British Commonwealth. New constitution promulgated.

1984The UDP wins in landslide victory in parliamentary elections, Manuel Esquivel becomes prime minister. Voice of America transmitter installed at Punta Gorda.

1985Esquivel government signs economic stabilization agreement with U.S. Agency for International Development (AID), requires government to adopt neoliberal economic policies including privatization of public corporations and agencies.

1987Formation of Security Intelligence Service (SIS) modelled on British M15.

1989PUP narrowly wins September parliamentary election (15 to 13 seats) that returns George Price to prime minister's office. Government dismantles SIS and relaxes control of media.

1991Belize celebrates ten years of independence. Guatemala recognizes Belize as an independent country.

GDP Growth / Current Prices (%)

Hotels and Restaurants1 6 . 0 0

1 4 . 0 0

1 2 . 0 0

1 0 . 0 0

8 . 0 0

6 . 0 0

4 . 0 0

2 . 0 0

0 . 0 0

2000 2001 2002 2003

San Ignacio

Belmopan

CAYO

ORANGE WALK

BELIZE

BELIZE

STANN CREEK

TOLEDO

Punta Gorda

Dangriga

Belize CityBelize City

Corozal Town

Orange Walk Town

Economic Activities

Financial Services

Fishing

Cocoa

Aquaculture

Fruits

Coffee

Woods & Furniture

Transportation Infrastructure

International Airport

Ports

Main roads and Highways

Commercial Free Zones

Export Processing Zones

Important Enteprises located in Belize

Natural Zones

Blue Hole

Parks & Preserved Areas

Lodges

Maya Ruins

Diving Areas

Main Towns

Belize City

Belmopan (capital)

Maya Mountains

Bluecadia

Bluecadia

Marie SharpMarie Sharp

Gallon Jug

NewRiver

Shipstern Shipstern NaturalNaturalPreserve

AtlanticBank

WoodDepot

Medina's

Lea's

Chaa Creek

Turtle InnCOPPOLA'S

Blancaneaux LodgeCOPPOLA'S

Data ProData Proe-business park

Bluecadia

Greens & BlackGreens & Blackchocolate productschocolate products

BrooksBrooksTropicalsTropicals

Bluecadia

Bluecadia

Belize’s General FactsOfficial Name: Belize

Nationality: Belizean

Independence Day: September 21,1981

Major languages: English (official),Spanish,Mayan,Garifuna (Caribbean) and Creole.

Population: 272.942 (2004)

Density of Population: 25 persons per sq. km

Life expectancy: 70 years (men),73 years (women)(UN)

Capital city: Belmopan

Principal cities: Belize City,Corozal,Orange Walk,San Ignacio,San Pedro,Dangriga,Placencia,PuntaGorda,San Antonio.

Time Zone: CST ; GMT – 6

Climate: Sub-Tropical (dry and wet season)

Rainfall: Annual rainfall ranges from 60 inches inthe North to 200 inches in the South.

Form of Government: parliamentary democracy –Bicameral Legislature

Next Election: 2008

Monetary unit: 1 Belizean dollar = 100 centsExchange Rate: US$1.00=Bz$2.00

Labor Force: 95.911 (2004)

Literacy Rate: 93%

Major Ports: Belize City,Big Creek and Dangriga

Major International Airport: Phillip SW GoldsonInternational,8 miles WNW of Belize City.

International dialling code: +501

Internet domain: .bz

Page 7: Belize Investors Manual 2009

. Belize has become a natural niche for investors who want to develop their business in a stable, strategic, sustain-able and business-friendly environment. Selecting Belizehas rewarded foreign investors from an array of economicsectors. Investors’ satisfaction, commitment and confi-dence in Belize are demonstrated by reinvestment levels,which are consistently high. Some sectors that have recently generated interest from investors include;

. Tourism

. Agribusiness

. Aquaculture

. Offshore Financial Services

. Furniture Manufacturing

. While the overarching benefits afforded by a positive overall business climate benefit the entire private sector,these industries have managed to stand out by couplingoverarching benefits with the sector-specific advantagespresent in Belize.

Sector profile

Page 8: Belize Investors Manual 2009

TourismBelize is recognized as an outstanding destinationfor experienced-based or specialty tourism. Eco-tourism,adventure tourism,cultural tourism and archaeological tourism have flourished inBelize due to the country’s location,diverse andhigh-quality attractions,and hospitable population.

Evidence of the quality of Belize’s tourist appeal is found by noting that 30% of tourist arrivals are by repeat visitors,and that during 2003 touristarrivals grew 10.6% and tourist expenditureincreased 17.74%.

The Belizean tourism industry’s demonstrated success and commitment to maintaining attractionscreate an attractive platform for investors looking to cater to the growing number of experience-based tourists. Besides the private sector’s commit-ment to preservation,the government,aware of the value of its natural assets,maintains conser-vation policies that ensure the industry’s growth is sustainable.

As consumers are increasingly using particular acti-vities rather than destination as the basis for select-ing their vacation spots,the outlook for specialtytourism is positive. Belize is the Natural Niche forthis type of tourism,as few destinations allowclients to explore rain forests,Mayan ruins,sandybeaches and some of the world’s best dive siteswithin easy travelling distance.

Belize’s tourism product,which includes not onlyexcellent natural resources but also strong culturaland heritage components are well-suited for mar-ket segments such as historic/cultural travellers and geo-tourists.

The availability of educated,motivated and com-mitted human resources is a critical factor for a serv-ice industry such as tourism. In the case of Belize,the labour force can be considered an asset for anyinvestor.

Comparative tourism growth rates Total Demand Global Caribbean Region Belize

2004 * 5.9 7.7 11.42005 –2014 * 4.5 4.5 5.6Source: WTTC, February 2004, Belize: Travel and Tourism Forging Ahead

* Adjusted for inflation

Chaa Creek

« Belize is good for doing business,

the investment climate is positive.

We haven’t witnessed any govern-

ment intervention in our operation

and there are no major obstacles to

operating a business.The country

has evolved positively over time and

continues to improve its attractive-

ness for foreign investors.

Our experience with Belizeans

(workers and labour) has been excel-

lent.The quality of local labour is

definitely a very positive advantage

for Belize. People are committed,

participative and educated, they can

be considered a high value resource

for a service based venture and they

take a special pride in being part

of a growing business. Many of our

workers have over 15 years working

with us and labour turnover is defi-

nitely very low. »Mick Fleming”Chaa Creek

The Lodge at Chaa Creek has provid-

ed ecological and archeological

tourism services in Belize since 1981.

Since pioneering these services, the

Lodge has achieved consistent

business growth, expanding their fa

cilities and range of services, and has

worked with some of the world’s

premier nature and adventure tour

companies.

Blancaneaux Lodge

« Belize is a favourite destination

for those individuals looking for a

completely different, authentic and

exclusive tourist experience. Our

guests highly value the interaction

with the community and the pristine

flavour that Belize carries.

For a service oriented-business like

tourism, labour is the fundamental

resource and we are very happy

with the availability, educational

level and commitment of human

resources in Belize.”

Ann WoodGeneral Manager

Blancaneaux Lodge, a secluded retreat

from civilization, is characterized by

an unaffected elegance with rustic

comfort in complete harmony with its

surrounding, spectacular piece of

Belizean real estate. Strategically

located within reach of two of Mundo

Maya's most spectacular and impor-

tant citadels,Tikal and Caracol.

Blancaneaux Lodge is one of Francis

Ford Coppola’s two high-end resorts

in Belize.

Among the main natural factors

that Belize is able to provide to its

visitors we find:

Second largest barrier reef in the worldand the largest in the hemisphere

Pristine waters

The rainforest

Wildlife

Mayan ruins and cultural influence

The Garifuna culture

Easy access to Belize via land,air or sea

An English speaking environment

Market Origin of International Land-Based Arrivals to BelizeSource: Belize Tourism Board web site - 2002P data

United States

Other

Mexico

Guatemala

Ex-Pat Belizeans

Canada

Europe

Page 9: Belize Investors Manual 2009

AgribusinessThe positive experience of current investors in theagribusiness area is probably the most convincingevidence that can be provided to future investorsabout the potential of the agribusiness sector.Companies such as Brooks Tropicals,a leading U.S.fruit company; Marie Sharp’s,Belize’s most recog-nized exporter of hot pepper sauces; Green &Black’s,U.K.’s top-notch specialty chocolate manu-facturer and Bluecadia,a U.S. aqua-culture investor,are taking advantage of Belize’s Natural Niche indeveloping their businesses.

Because these investments are targeting the exportmarket,Belize’s proximity to major North Americanmarkets has allowed these companies to easilyaccess North American consumers. Belize’s ACP/EUmembership allows certain exports to the EU toreceive preferential treatment such as duty freeand quota free access. In 2005 the Marie Sharp’sexpects to export over 80% of its products to theU.S. and to Europe.

But Belize is also an attractive investment locationfor agribusiness because high quality productiveland is available for a large range of agriculturalproducts and there is an abundant reserve ofmarine resources such as lobster,Tilapia,Bay Snook,shrimp,conch and various deep-sea fish.

Belize is just starting to develop its aquaculturepotential and there is an increasing demand toinvest in this export-oriented sector. Marine exportsrepresent the second fastest growing export prod-uct in Belize: growing at an average rate of 13%between 1990 and 2002; compared to 4% growth inaggregate exports during the same period.

A 300 day annual growing season,an average watertemperature of 27°C (81°F) with low temperaturevolatility,and the country’s position within the 5%hurricane landfall probability belt,make climaticconditions favourable for a variety of aquacultureproduction methods.

Belize’s agribusiness is producing high quality prod-ucts that are being differentiated in the main con-sumer markets and are therefore benefiting frompremium treatment in these niche markets.

Belize is particularly well positioned for organic andeco-labelled production,as the conversion processfrom conventional to certified cultivation is facili-tated by farmers’ low reliance on prohibited fertil-izers and pesticides. Production of vegetables suchas hot peppers,tomatoes,sweet peppers,cabbage,onion,broccoli,celery and cauliflower has reachedsufficient quantities to where organic certificationhas high potential. The Belize Organic ProducersAssociation (BOPA) has prioritized mango,cashews,and papaya as those crops with greatest potentialfor organic cultivation. Other fruits produced byBelize with potential for organic certification aresour apples,avocados,pineapples,citrus andcoconuts.

Belize provides a natural niche for investors that arelooking for a location that will allow them to brand,differentiate and niche market their products.

Brooks Tropicals

« Our Belizean papayas carry the

Brooks brand as recognition of their

quality, but they also mention their

Belizean origin which is recognized

as a premium by our customers.

Belize has provided us with a stable

regulatory environment, an English

legal system, a willing, diligent and

hard-working workforce and mana-

gerial talent.

Such environment has allowed our

investment to grow sustainably dur-

ing the 15 years that we have been

growing and commercializing our

Belizean papayas.

Our exports have grown at a 50%

yearly rate since 1998.All our

employees are Belizean as we have

not been in the necessity to bring

expatriates to manage our business.

We have been reinvesting in Belize

because the country offers a stable

and predictable business envi-

ronment and a pro-investment gov-

ernment. »Craig WheelingChairman

Active since 1928, Brooks Tropical is

today’s Florida’s largest tropical fruit

and vegetable supplier. Since 1995,

the firm’s Belizean Papaya operation

increased thirty-fold with 1000 acres

currently producing the Caribbean

Red Papayas.The subtropical climate

found in Belize is ideal for the cultiva-

tion and production of delicate tropi-

cal fruits and vegetables which

require consistently high tempera-

tures and levels of humidity.

Bluecadia

« Belize provides a comparative

advantage in respect of aquaculture.

The availability of a large area of

protected waters that results

from the long barrier reef provides

a tremendous potential for

fish farming for a wide array of

fish species.»Mr. John Smith

Bluecadia Aquaculture Group has

been involved in shrimp farming since

1989 when several private investors

took over a small shrimp farm in

Ladyville, Belize. Since the company's

inception, its facilities have expanded

as Bluecadia has become the largest

aquaculture company in Belize.Today

Bluecadia's farming operations con-

sist of three farms, two hatchery sites,

and a modern processing facility.

Page 10: Belize Investors Manual 2009

ServicesDataPro e-Business Park

DataPro e-Business Park is the region's premiereinfrastructure provider for enterprises with mis-sion-critical,offshore e-Business operations: offersstate-of-the-art office space (60,000 square feetarea build-to-suit),communications with modernutilities and a built-in fiber-optic link to a NetworkOperations Center and ancillary services tailored tothe needs of companies that wish to take advan-tage of the unique e-Business opportunities createdby the fusion of a Free Trade Export ProcessingZone,traditional offshore financial services,and thelatest information Technologies. The Park isequipped for those companies that wish to expandor relocate their operations to a secure and stableoffshore location that offers exceptionally attrac-tive fiscal incentives,security,and privacy.

Companies that locate at DataPro benefit from:

.100% exemption on all taxes and import dutiesfor computer equipment,software,furniture,and all other materials and equipment needed tooperate your e-business.

.100% exemption on taxes relating to the impor-tation of a company vehicle and vehicle parts.

.100% exemption on income tax

.100% exemption on capital gains tax

.100% exemption on sales tax and value added tax.

International Financial Services

Belize’s favorable legislation for offshore financialservice providers,high integrity standards,emerg-ing domestic financial industry,and proximity toAmerican,Mexican and Canadian markets,createthe platform off of which the county’s offshorefinancial services industry has grown. Since 1990more than 25,000 offshore businesses or trusts havebeen registered in Belize.

The 1990 International Business Companies Act (IBCAct) guar-antees owner’s confidentiality,securityand privacy and provides tax exemption for all of anIBC’s income and dividends. The InternationalFinancial Services Commission (IFSC) provides theinstitutional framework for shaping governmentpolicies on the regulations and professional stan-dards of such services. The Commission created a supervision unit knownas the Financial Intelligence Unit in 2002. The IFSC is also responsible for collecting,sorting and disseminating reliable and timely information tothose seeking market research on these services.

As anti-money laundering and anti-terrorism com-pliance becomes of greater importance to the inter-national community,offshore industries able tomaintain integrity will be become more attractiveto investors. Belize is one of a few locations to haveenacted Code of Conduct legislation,whereby alle-gations of illegal activities must be formally report-ed. The Code of Conduct legislation has benefitedBelize’s offshore financial services industry by assur-ing customers that by monitoring and enforcingprofessional standards the industry’s integrity willbe maintained. Client verification procedures suchas the Know-Your-Customer approach have beenintroduced to further assure the industry’s stan-dards. A list of service providers can be found on theIFSC website: www.ifsc.gov.bz.

Atlantic International Bank

« We are witnessing a growing

interest to establish international

banking operations in Belize.At this

time, eight international banking

licenses have been already issued

and we expect this number to

increase in the short term.

Belize’s legislation for international

or offshore banking operations can

be described as strict enough to

avoid «fly by night investors». Our

bank was established five years ago

and the growth of our financial oper-

ations confirms that Belize is a good

jurisdiction for an international

banking operation. »Ricardo PelayoAssistant General Manager

Page 11: Belize Investors Manual 2009

Belize Trade and Investment Development Service works tohelp international and local investors in establishing anddevelopinga business in Belize.

Belize has a very attractive value proposition for the niche-oriented investor. We aspire toattract quality-driven players who value the pro-businessenvironment , our competitive investment climate, favorableexport location and infrastructure.

Ten reasons to invest in Belize

01 A strong democracy

02 Minimal red tape

03 Environmentally friendly legislation

04 Preferential market access to Europe,Canada,the USA and the Caribbean

05Short distance to major US markets: Two hour flight to and from Miami, New Orleans,and Houston

06Adjacent to fairly large Central American markets and has bilateral trade agreements with neighboring countries.

07 All-weather roads linking major towns and ports.

08 Relatively low-cost labour and energy.

09 Best land and sea conditions for producing specialty tropical foods.

10

A combination of natural factors like climate,the longest barrier reef in the WesternHemisphere,numerous islands,excellent fishing,safe waters for boating,jungle wildlife,and Mayan ruins,supporting a high-end tourist industry.

Making business happen

Know more on investing in Belize atwww.belizeinvest.org.bz or consult our BIG Belize Investment Guide.

Page 12: Belize Investors Manual 2009

Main Office14 Orchid Garden Street

Belmopan City, BelizeCentral America

Telephone (+501) 822 3737822 0175

Fax (+501) 822 0585

Belize City Office1st Fl. Central Bank Bldg.

Gabourel LaneBelize City, Belize

Telephone (+501) 223 1913Fax (+501) 223 2464

beltraide @belizeinvest.org.bzbelizeinvest.org.bz