AGRI-Invest Country Profiles

Agri Investment Forum & Expo, 2022

BELIZE

INCENTIVES/CONCESSIONS FOR THE AGRICULTURAL SECTOR:

A company applying for a development concession must be an incorporated entity under the Laws of Belize. And the business activities must provide benefits to the economy of Belize. The Fiscal Incentive Programaims to encourage genuine investment in Belize for both existing and prospective investors through the granting of customs duty exemptions. The Program provides a legal and fiscal framework to stimulate productive economic activities that will ultimately contribute to the overall development of Belize. Full Duty Exemption: Duty exemption of up to a maximum of 15 years to companies granted an Approved Enterprise Order. Duty exemption may be renewed for a further term of 10 years or a total of 25 years for companies engaged in agriculture, agro-industrial products, mari-culture, food processing and manufacturing with operations centered on export, and that are highly labor intensive. • •

Categories: Several categories of items may benefit from full or partial relief from Import Duty, depending on the nature of the business. Examples of categories that may be approved are:

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Building Materials and Supplies Plant, Machinery, and Equipment Specialized Tools (excluding hand tools) Utility and Transport Vehicles Fixtures and Fittings Office Equipment and Appliances

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Spare Parts for Plant, Machinery & Equipment Agricultural Machinery and Supplies Raw Materials or other items for the sole use of the approved enterprise.

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For further information, please visit our website: www.belizeinvest.org.bz

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