The ISO code of Belize is BZ according to the ISO 3166 standard. The local name of the country is the same as its English name. Belize capital city is Belmopan. People in Belize speak the English language. On 21 September 1981, Belize emerged as a sovereign political entity. In the year 09/21/1981, Belize emerged as a sovereign political entity. The largest cities in Belize are Belmopan, Belize City, San Ignacio.
Belize is located in the UTC -06:00 time zone, which is also called Central Standard Time or CST. The internet country code top-level domain (ccTLD) for Belize is .bz. The International dialing code for Belize is 501. People in Belize drive on the right side of the road. Total land area of Belize is 22,966 km² (approx. 8,867 mi²). Belize is not a landlocked country. It means that is is bordered by at least one major body of water.
Belize is located in North America. Belize is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Belize faces various issues, including deforestation, water pollution from sewage, industrial effluents, agricultural runoff, solid and sewage waste disposal.
Doing business in Belize
We offer various corporate services in Belize jurisdiction. These services can serve both, people coming from Belize and foreigners. If you plan on doing business in Belize you might be interested in contacting us.
To find out about starting your business in Belize click on company formation in Belize.
To find out how to open a bank account in Belize and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Belize.
Choose preferred service below or continue reading to find out more about Belize.
Demographics of Belize
The total population of Belize is 382,444 people. In Belize, the population density is 14.1 people per square kilometer (37 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Belize is 0.7015. Belize has approximately 50860 foreign immigrants. The median age is approximately 21.8 years. In Belize, 25 in every 100 people use internet. Belize has a Human Development Index (HDI) of 0.732.
The majority religion of Belize is Christianity, Belize is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Belize.
Culture of Belize
People in Belize speak the English language. According to data on inbound tourists in Belize, 294,000 tourists arrive in the country each year. One of the most popular national dishes of Belize is boil up. To read more click on culture of Belize.
Geography of Belize
Belize is considered to be a large nation because of its total area. Its total land area is 22,966 km² (approx. 8,867 mi²). Belize is located in North America. Its capital city is Belmopan. Belize has 2 neighbouring countries. Its neighbours include Guatemala, and Mexico. Total length of land borders of Belize is 542 kilometers (~209 miles).
The highest point of Belize is Doyle's Delight, with its official height being 1124 m (3,688 ft). Including land mass and EEZ, the total area of Belize is approximately 58,317 km² (~22,516 mi²). The most notable natural resources found in Belize are arable land potential, timber, fish, hydropower.To read more click on geography of Belize.
Economy of Belize
The currency of the country is Belize dollar. The symbol used for this currency is $, and it is abbreviated as BZD. 7.6% of population in the country are unemployed. The total number of unemployed people in Belize is 29,066. Each year, Belize exports around $0.63 billion and imports roughly $0.86 billion. The Gini Index of the country is 53.1. Belize has a Human Development Index (HDI) of 0.732.Belize has a government debt of 110.% of the country's Gross Domestic Product (GDP), as assessed in 2012. Belize is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are garment production, food processing, tourism, construction, oil.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Belize is $2,975 billion. Each year, consumers spend around $866 million. The ratio of consumer spending to GDP in Belize is 0%, and the ratio of consumer spending to the world consumer market is 0.0025. The corporate tax in Belize is set at 1.75%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Belize is 12.5%, and it is known as General Sales Tax. In 2013, Belize received 25.1 million USD in foreign aid.In 2014, the foreign aid amounted to 22.5 USD.To read more click on economy of Belize.
Infrastructure of Belize
In Belize, 100% of the population has access to electricity. There are 3,392 internet hosts in Belize. Belize has 47 airports nationwide.
To read more click on infrastructure of Belize.
Politics of Belize
Belize, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Belize is 1. Citizens in Belize experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Elizabeth II.
According to the World Bank Group, the government effectiveness index of Belize is -0.67. This indicates that the government of Belize is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Belize, the legislative power is vested in a National Assembly. The strength of legal rights index for Belize is 4. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Belize received 25.1 million USD in foreign aid. In 2014, the foreign aid amounted to 22.5 USD. Belize is a member of the United Nations (UN). On 25 September 1981, it joined the UN as a full member state. Belize is a member of the World Bank. To read more click on politics of Belize.
Environment of Belize
Belize emits 1.7 metric tons per capita of CO2. 16530 km² of Belize's territory is covered in forests. and forest land comprises 72% of all the land in the country. To read more click on environment of Belize.
Company formation in Belize
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Belize.
When establishing a company in Belize, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Belize that will affect the establishment and growth of one's business. Contact us or click on company formation in Belize to read additional information when setting up a business.
Bank account opening in Belize
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Belize. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Belize, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Belize or contact us.