Belize (BZ)
Belize is an English-speaking Central American country known for its barrier reef, rainforest, and cultural mix of Maya, Garifuna, Mestizo and Creole heritage.
Capital: Belmopan
Region: Americas
Language: English
Currency: BZD (BZ$)
Cost of living: Very affordable (index 33)
Emergency: 911
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Business Setup
Start a business or go freelance in Belize.
🧑💻 Freelancer / Self-Employed Guide
Steps to register:
- 1 Register as a self-employed person with the Belize Tax Service Department (BSD) at bsd.gov.bz and obtain your Tax Identification Number (TIN) — required before issuing invoices or receiving taxable income.
- 2 Register a trade name with the General Registry if operating under a name other than your own legal name (BZ$50–200 fee).
- 3 Choose a business structure — most freelancers operate as sole traders; incorporate a Private Ltd if you need liability protection or contracts require a corporate entity.
- 4 Determine your Business Tax category: most professional and consulting services are taxed at 6% of gross revenue collected; trade/commerce at 1.75%. Business Tax is a gross receipts tax paid quarterly to BSD.
- 5 File an annual Income Tax return with BSD — personal income above BZ$26,000 is taxed at 25% on the excess.
- 6 Register for General Sales Tax (GST) at 12.5% if annual turnover exceeds BZ$75,000.
- 7 If you employ staff, register with the Belize Social Security Board (SSB) — employer contributes 6.5% of insurable wages; employee contributes 3%.
- 8 Obtain a valid work permit before beginning any paid activity if you are a foreign national — being paid by an overseas client while physically in Belize on a tourist stamp can breach immigration conditions.
Tax registration
Belize Tax Service Department (BSD) at bsd.gov.bz. Obtain a TIN before any business activity. Business Tax is filed and paid quarterly. Personal Income Tax returns are filed annually. The BSD administers both.
VAT threshold
BZ$75,000 annual turnover triggers mandatory General Sales Tax (GST) registration at 12.5%. Below this threshold, Business Tax applies instead: 6% of gross revenue for most professional/consulting services; 1.75% for trade/commerce; 25% for professional athletes and entertainers. Note: Business Tax is a gross receipts tax — it is payable even if you make a loss.
Invoicing
Invoices must include: business name, TIN, invoice number, date, description of services rendered, amount in BZD, applicable Business Tax or GST treatment, and bank/payment details. For government contracts, vendor registration with the Ministry of Finance is also required.
Social security
The Belize Social Security Board (SSB) manages social security. Self-employed individuals may voluntarily register with SSB to access sickness, maternity and retirement benefits. For employed staff: employee contribution 3% of insurable wages; employer contribution 6.5% of insurable wages. Contributions are remitted monthly.
💡 Belize applies a Business Tax (gross receipts) in addition to personal Income Tax — this is a key structural difference from most countries. Unlike VAT, Business Tax is due on revenue collected regardless of profitability. Expats working in Belize without a valid work permit face immigration penalties even if paid by an overseas employer.
🏢 Business Structures
Sole Trader · Self-Employed Individual
Sole Trader
None required
Min. capital
1–3 business days
Setup time
Liability: Unlimited personal liability
Setup cost: BZ$50–200 for trade name registration with the General Registry; no mandatory minimum capital
Best for: Freelancers, consultants, tutors and individual service providers with low risk. Taxed at personal income tax rates (first BZ$26,000 tax-free, 25% above that).
Partnership · General Partnership
General Partnership
None required
Min. capital
3–7 business days
Setup time
Liability: Unlimited joint and several personal liability for all partners
Setup cost: BZ$150–400 registration; partnership deed recommended (BZ$500–1,500 with a lawyer)
Best for: Two or more individuals sharing a business. Simple structure but high personal liability exposure. Common for small professional practices.
Ltd (Private) · Private Limited Liability Company
Private Limited Company
No statutory minimum (1 share is sufficient)
Min. capital
5–15 business days through the Belize Companies and Corporate Affairs Registry
Setup time
Liability: Limited to share capital; shareholders protected from personal liability
Setup cost: BZ$350–600 government fees; legal/professional fees BZ$1,500–4,000 for incorporation package
Best for: Most preferred vehicle for foreign investors and expat business owners. Separate legal entity; suitable for tourism, construction, retail and consulting. Corporate income tax: 25% on net profits.
IBC · International Business Company
Offshore Company
None required
Min. capital
1–5 business days through a licensed registered agent
Setup time
Liability: Limited to share capital
Setup cost: BZ$500–1,000 government registration fee; registered agent fee USD 400–1,200/year
Best for: International holding, investment or offshore activities. IBCs cannot conduct business within Belize with Belizean residents. Requires a licensed registered agent (not suitable for local trading).
Business Setup
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