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Belize - Offshore Financial Center Status
By Brett_Bumeter | February 23, 2008
The Government of Belize lists the following criteria according to which it judges foreign investment:
- creates employment opportunities;
- makes maximum use of indigenous raw materials;
- earns foreign exchange;
- results in increased production;
- introduces state-of-the-art technology;
- enhances local management skills;
- promotes greater efficiency through competition;
- diversifies the economic base;
- facilitates access to foreign markets;
- is environmentally friendly. [1]
Opportunities and incentives do encourage investment and development further inland. Furthermore, joint ventures or partnerships are promoted over full foreign ownership, which is not prohibited. Historically this makes good economics since it keeps foreign investors in tune with the country. The incentives to establish investments and developments inland make sense economically because it fosters a need for further investment in infrastructure and also encourages industry to move away from areas subject to coastal flooding and hurricanes where short term ventures and investments might not be renewed in the advent of catastrophic loss.
In early 2000, over 14,000 offshore companies were registered in Belize. This number had increased up from 3000 registrations during the 1990-97 time period.
[1] Lowtax.net, supra note 8.
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Topics: II Politics and Economy, Offshore financial Center |
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