Belize: Offshore Legal and Tax Regimes
Export Processing Zone Regulation
The rules and regulations governing the EPZ Programme are contained in the EPZ Act 1990 and Export Processing Zone Regulations 1992.
Various incentives to investors under the EPZ Act include:
- full import and export duty exemptions, extending to capital equipment, intermediate goods, spare parts and service vehicles utilized inside the EPZ;
- exemptions from capital gains, property and land tax, excise, sales, and consumption tax, trade turnovers, foreign exchange, and transfer tax;
- a guaranteed income tax holiday of 20 years with an option to extend and deduct losses from profits following the tax holiday period;
- divided tax exemption in perpetuity;
- opportunity to open foreign currency bank accounts in Belize and abroad;
- opportunity to sell, lease or transfer items, goods and services within an EPZ;
- customs inspection at the zone for expediency;
- work permits at no cost for all professionals and technical staff;
- exemption from the Supplies Control Act and its regulations;
- no raw material import restrictions;
- no import or export- licensing requirement;
- no trade licensing for business to operate;
- no licensing requirement for domestic suppliers who sell to EPZ business.
NB: Since April 2010, a 'Social Fee' of 1.5% is charged on all goods and services imported into an EPZ.