Buying a business in Belize can be a dream—but only if you follow the steps carefully. Here’s a local perspective on how to navigate the process successfully.
1. Decide What Kind of Business You Want
Popular sectors for foreign investment:
- Tourism & hospitality: guesthouses, lodges, tours
- Agriculture: cacao, coconut, aquaculture
- Retail & food: cafes, small restaurants, markets
- Transportation: shuttles, boat tours
Knowing your niche will guide your legal and financial preparations.
2. Understand Belizean Regulations
Belize allows 100% foreign ownership for most sectors. Certain industries, like utilities or telecommunications, may require local partnership or licensing. Always:
- Review business licenses
- Check municipal regulations
- Consult a Belizean attorney
3. Conduct Thorough Due Diligence
Key checks:
- Verify property or business ownership
- Confirm financial records, tax compliance, and liabilities
- Review employee contracts and obligations
In Belize, transparency matters—but small businesses may have less formal records than in North America. That’s normal, but it requires careful review.
4. Draft the Sale Agreement
A lawyer should handle this. Ensure:
- Sale price and terms are clear
- Liabilities are disclosed
- Transfer of assets (furniture, equipment, land, inventory) is documented
- Staff obligations are clear
5. Obtain Licenses and Register
After purchase:
- Update business license with the Belize Companies & Corporate Affairs Registry
- Obtain trade licenses if required
- Register for taxes and social security for employees
6. Practical Advice from Locals
- Work with local partners or advisors
- Spend at least 1–2 months on the ground before buying
- Keep finances transparent and in Belize dollars when possible
With careful planning, buying a business can be smooth and rewarding.
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