Advantages under an Approved Enterprise Order

• Exemption of import and revenue replacement duty on transport & utility vehicle(s), equipment, building materials, plant and machinery, etc.
• Exemption of Duty on spare parts for plant and machinery and also on raw materials for use by the business
• Duty Exemption up to 15 yrs for an approved business

Requirements for an Approved Enterprise Order (See Application Form)

• Have a Belize Local Corporation (Request Requirements)
• Business must be beneficial to the economy of Belize in areas such as the creation of jobs
• Business must submit application/proposal in triplicate to the Belize Trade and Investment Development Service (BELTRAIDE) (Request Procedure Form and Government Fees)
• Business must not endanger the environment (need to complete an Environmental Checklist)

Documents required for Application/Proposal

• Corporate Documents for Local Company
• Title/Lease for Land
• List of name and quantity of items for Duty Exemption
• Environmental Checklist
• Business Plan is required (Request Requirements & Outline)
  • Includes: Description of Undertaking, Management & Staff Organization, List of Fixed Assets, Beginning Balance Sheet, Cash Flow, Certified Profit & Loss Projections, Marketing Plan and Economic Benefits along with bank reference letters for business or its principals
• Licenses/Permits relevant to your business e.g. Work Permit, Hotel License, Tour Operator’s License etc… (Request Information)

Time Period

• Generally 30-45 days to process the documents before we submit the application (this period depends on the documents given to us)
• After submission of application & documentation to government, they will reply within 60 days, the entire process usually takes 3-4 months

FEES

• A Deposit of US $1,000.00 is required for us to review your project, which should include a preliminary business plan and financial statements. This fee also covers contacting the Government in order to receive a preliminary approval to proceed in submitting your application for license.
• Our fees for the preparation, submission and follow up of your application is US $50.00 per hour plus out of pocket expenses, sales tax, including international and local courier services, telephone, transportation, etc… Total cost and fees range from US $2,500.00 to US $5,000.00

Government Fees: There is a Non-Refundable application fee payable to BELTRAIDE’s Account, which ranges from US $3,500.00 – US $15,000.00. This fee depends on the Intended Investment, which starts at US $250,000.00.

You will also need to pay US $750.00 - $1,000.00 to have the Financial Statements and Projections certified by a CPA such as Pannell Kerr Forster, plus other incidental fees as per the application procedure form.

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