Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Services
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Services
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
DISCOVER BELIZE
Simply sign up to receive the FREE daily e-letter, Overseas Opportunity Letter, plus our In Focus: Caribbean newsletter and we’ll immediately email you our editors’ latest research report… absolutely FREE
Belize offers expats favorable tax conditions, including no tax on foreign income, low corporate and consumption taxes, and incentives like the Qualified Retirement Program. Its tax system includes income, sales, and local taxes, with special treatment for businesses and foreign investors. Belize is widely seen as a tax-friendly destination for residency and investment.
Belize is not only known for its beautiful beaches, landscapes, and its friendly and welcoming people, it’s also commonly known as a tax haven for foreigners since it has a favorable regimen on its fiscal system for citizens and residents.
Belize welcomes expats. It’s a small, safe and stable country to establish foreign residency—foreign residents pay no tax in Belize on non-Belize income.
Belize´s tax system is based on indirect taxation through three main sources of income: trade related taxes, a tax on sales, and rates. Furthermore, it has direct taxation through the Income and Business Tax.
As for tax administration, there are several entities in charge of collection based on tax, which may lead to certain duplicities. The entity in charge of coordinating the tax policy is the Ministry of Finances.
For the companies which operate in the Free Trade Zones and Industries as well as International Commercial Companies (IBCs) specific legislation is contemplated.
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2025
We Value Your Privacy! We will not share your email address with anyone else, period.
Belize´s local tax system is divided into two: state and local.
In the case of local authorities, its principal sources of financing are:
The basic legislation applicable to income tax is settled in the Income and Business Tax Act, and it’s supervised by the Income Tax Department.
For instance, the general income tax rate is 25%, plus a US$50 general deduction is applied to all taxpayers after the application of the rate.
Additionally, there´s the possibility of applying deductions when calculating the tax base such as:
The deadline for taxpayers is March 31. Those earning less than US$13,000 in income per year are exempt from paying the income tax.
The general Belize tax on sales is regulated by the General Sales Act and is supervised by the Department of General Sales Tax. It taxes the value added to imports and other goods and services supplied by one company to another one or to a final consumer.
The general tax rate is 12.5%. Also, tax registration is an obligation if it’s a taxable activity with annual business volume above US$37,500.
Sales tax is calculated and charged on transactions in production and in the delivery chain but the consumer pays general sales tax solely in the final sale price.
In any case, the tax paid at the entrance by the registered person is compensated with the tax received on departure, and only the difference is paid. But, when the cost of the departure tax exceeds the entry tax, the person may solicit the difference as a credit against future responsibilities.
There are exemptions on the tax, for example, in the case of financial services, some medicines, or certain products related to agricultural services. Also, there is a series of products which no tax rate such as rice, bread, eggs, sugar, fruits and fresh vegetables produced locally, etc.
The basic legislation applicable to corporate taxation is also established in the Income and Business Tax Act.
In addition to income tax, self-employed workers and companies must pay the Commercial Tax. Employees are exempt from paying it.
Companies must pay a tax on economic activities which is levied on all income above the following thresholds: US$37,500 for a company or commercial activity and US$10,000 for those who are self-employed.
The tax on economic activities depends on the type of company and ranges between 0.75% to 25% withheld from management rights and some other charges paid by nonresidents.
Companies can also file an income tax return, set at 25% of profits above BZ$20,000 (there is no threshold for nonresidents).
And, if the income tax is higher than the tax on economic activities, the excess income tax is exempted. In the event that the company has losses, these can be converted into a tax credit for the purpose of tax on economic activities and the losses can be carried over to a new account for five years (seven in the case of farmers).
The tax on companies involved in petroleum production has a tax rate of 40%, payable quarterly.
With the exception of specific incentives, the tax treatment of foreign investments is the same as for any local company. In the case of external double taxation, it is subject to the agreements and treaties that Belize signs with other countries on the matter.
Belize’s Qualified Retired Program (QRP) is a great program for retirees and entrepreneurs alike. It’s an incentive to facilitate those who meet certain requirements, to permanently live, retire, and relax in Belize.
The application must be done through the Belize Board of Tourism in their website they outline the following criteria:
Reviewed By Lief Simon
Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.
Start Your New Overseas Life Today
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2025
We Value Your Privacy! We will not share your email address with anyone else, period.
Belize has white-sand beaches, palm trees, and warm weather year-round… a tropical retirement dream come true. Plus, it’s a tax haven. Even as a resident, Belize does not impose tax on income earned outside of the country.
In the southern Caribbean Sea, about 40 miles north of Venezuela, lies the island of Curaçao. Boasting year-round sunshine, a...
Looking for an English-speaking haven that offers sunshine, culture, and affordable living? Belize could be your perfect match. Here’s a...
Santa Marta is our preferred beach destination in Colombia… at least for personal use. It’s an intrinsically beautiful Caribbean getaway...
I don’t consider myself a “foodie”. I never did follow trendy restaurants or seek out culinary experiences… but I sure...
We Value Your Privacy! We will not share your email address with anyone else, period.
As seen in
© 2008 – Live and Invest Overseas™ – All Rights Reserved.
Top Countries
Budgets
Affordable
Resources
Real Estate
Overseas Property Alert
How To Become Independently Wealthy And Fund The Lifestyle Of Your Dreams
Buying Real Estate For Cashflow
Discover tips and strategies used by global property investing veterans
Explore Our Latest Posts
Learn how to invest and purchase property abroad…
Conferences
Live and Invest In Spain Conference
Offshore Wealth Summit
Argentina Workshop
Contact Our Events Team:
Toll-Free U.S. and Canada:
1 (888) 627 8834
From Outside North America:
1 (443) 599 1221
Working Hours
Monday – Friday 08:00 am – 17:00 pm EST.
Reach us with your questions by email at: events@liveandinvestoverseas.com
Store
Overseas Havens Reports
Conference Kits
Lahardan Books
Services
Free Report
THE 10 BEST PLACES TO RETIRE IN 2025
Sign up to receive the FREE daily e-letter, Overseas Opportunity Letter and we’ll immediately email you our editors’ latest research report…
We Value Your Privacy! We will not share your email address with anyone else, period.
Follow Us:
© 2008 - Live and Invest Overseas - All Rights Reserved.