Belize Facts and Figures
Facts About Belize
Corozal, Belize
Belize is located on the Eastern coast of Central America, bordered by the Caribbean Sea, Guatemala, and Mexico. The total land area of Belize is 8,867 square miles (22,700 square kilometers). Belize is well-known for its beaches, scuba diving, hiking, eco-lodges, and other outdoor activities. With the lowest population density in Central America, Belize offers plenty of space to get out and adventure. Living in Belizecan be an easy transition for most North American expats, as the official language of Belize is English. 62% of Belizeans are bilingual or trilingual.
| Information Type | Belize Data |
|---|---|
| Population | 397,628 (June 2020) |
| Gross Domestic Product (GDP) | US$1.94 billion (2020) |
| GDP Per Capita | US$4,500 (2020) |
| Inflation Rate | 0.6% (2019) |
| Currency | Belizean Dollar (BZD) |
| Exchange Rate Versus U.S. Dollar | 2 Belizean dollars per 1 U.S. dollar (2020) |
| Languages | English 62.9% (official), Spanish 56.6%, Belize Creole 44.6%, Mayan dialects 10.5%, German 3.2%, Garifuna 2.9% |
| Capital | Belmopan |
| Time Zone | GMT minus 6 |
| Seasons | Tropical: Hot and humid, rainy season lasts from June to November |
| International Dialing Code | 501 |
| Electricity | 110/220 V / 60Hz: Plug Types: B/G |
| System of Government | Parliamentary Democracy and a Commonwealth realm |
| Name and Party Affiliation of Current Leader | Dean Barrow United Democratic Party |
| Income Tax Rate for Residents | 25% |
| Capital Gains Tax | None |
| Inheritance Tax | None |
| Rental Income Tax | 12.5% for occupied properties and 2% for unocupied properties. |
| Transfer Tax | 5%, attorney fee 2% |
| Sales Tax | 12.5% |
| Restrictions on Foreign Ownership of Property | None |
| Local Chamber of Commerce | www.belize.org/bcci/ #4792 Coney Drive First Floor of With field Tower Belize City, Belize P.O. Box 291 Belize City, Belize Central America Tel: +501-223-5330 / 5331 |
| American Chamber of Commerce | www.amchambelize.org No. 1 Mapp Street, P.O. Box 75, Belize City, Belize Phone: +501 224-5352 |
| Primary Exports | Sugar, bananas, citrus, clothing, fish, molasses, wood, crude oil |
| Residency and Visa Requirements | Tourist Visa: Automatic 30 days upon entry, renewable for up to 6 months. Residency: visa extended every 3 months for people living in remote areas away from the Immigration Office, potential investors, and business people Citizenship: After 5 years of legal residency |
| Special Benefits for Foreign Residents or Retirees | Qualified Retired Persons Incentive Act includes tax-free import of household goods, including vehicle, boat, or airplane; no Belize income tax. Pension Income is exempt of tax. |
| National Airline | Tropic Air |
