COMMERICAL FREE ZONE (CFZ)
(Commercial Free Zone Act, 1994)
Advantages of a Commercial Free Zone Status
- Exemption of Duty on parts, supplies, goods, etc. entering a commercial free zone
- Exemption of Duty on fuel, equipment, furniture and other materials for use by the business
- No License required for imports/exports by a business in the CFZ
- Use of foreign currencies without government taxes or charges
- Exemption from income tax for 25 yrs.
- Exemption from any new company tax that the government may impose in the first 10 yrs of the CFZ business
- Dividends paid by a CFZ are exempted from above named taxes for first 25 yrs of operations
- US Dollar Account can be opened (Request Requirements)
Requirements for a Commercial Free Zone Status
- Have a Belize Local Corporation (Request Requirements)
- Business must be in the areas of trade or investment such as manufacturing or financial services
- Business must submit application to the Commercial Free Zone Management Agency (CFZMA)
- Business must own or lease property within a Commercial Free Zone (See note below)
- Business must not endanger the environment
Note: If you would like to purchase or lease land or building within a Commercial Free Zone, let us know and we will get information for you.
Time Period
- Generally 90-120 days, this period depends on the documents given to us.
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 $75.00 per hour plus out of pocket expenses, sales tax, including international and local courier services, telephone, transportation, etc.
Separate fees will apply for a Local Company, IBC, US Dollar Account and Real Estate Services.
INTERNATIONAL SERVICES LTD.
PO Box 2284, #16 Albert Hoy Avenue, Belama Phase 1,
BELIZE CITY, BELIZE, CENTRAL AMERICA
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