Belize: Investing

FDI in Figures

FDI inflows to Belize have been volatile and low for several years. According to UNCTAD's World Investment Report 2025, FDI inflows increased to USD 166 million in 2024 from USD 16 million in 2024, while they stood at USD 141 one year earlier. At the end of 2024, the total stock of FDI was estimated at USD 2.76 billion, around 80.7% of the country’s GDP (a ratio that has been constantly decreasing in the last five years due to nominal GDP growth). Tourism attracts most FDI due to the country's geographical position in the Gulf of Honduras and the development of ecotourism. Brazil, the U.S., Guatemala and Central American countries are Belize’s primary investors. The government encourages investment in agriculture, agro-processing, aquaculture, light manufacturing, food processing and packaging, tourism, tourism-related industries, business process outsourcing (BPOs), and renewable energy. Export-oriented businesses operating in less developed areas also receive preferential treatment. According to the latest data available from the Central Bank, Belize’s international investment position deficit widened by BZD 56.1 million in the first three quarters of 2024, reaching BZD 6.52 billion. This reflected a BZD 331.7 million rise in net foreign liabilities to BZD 8.73 billion, driven by higher FDI and public and private borrowing. Net foreign assets grew by BZD 275.6 million to BZD 2.21 billion, due to increased foreign holdings by domestic banks and the Central Bank.

Belize encourages foreign investment, perceived as a way to relieve fiscal pressure and diversify its economy. The country generally allows full foreign ownership and control of companies, but investments must be registered with the CBB and comply with the Exchange Control Act. The Companies Act was revised in 2023 to require disclosure of ultimate beneficial owners. The revised Accounting Records Maintenance Act now mandates that entities keep accounting records at their registered Belize office. In March 2023, the Fiscal Incentives Act was amended to introduce new exemptions, including benefits for MSMEs. The Civil Asset Recovery and Unexplained Wealth Act, enacted in July 2023, designated the FIU as the civil recovery authority, though it has yet to prosecute any unexplained wealth cases or apply civil forfeiture powers. The Belize Trade and Investment Development Service (Beltraide) is the investment and export promotion agency, and it encourages FDI through a series of incentive packages. The country benefits from a relatively skilled workforce, political stability, proximity to the U.S., and an English-speaking environment. However, Belize is a small market, lacking competitiveness with other Central American countries due to a high cost of doing business. Investors also complain about the lack of transparency, land insecurity, red tape, and corruption. Furthermore, the economy remains exposed to external shocks and climate-related disasters, while its underperforming education sector continues to hinder investment. In May 2023, the government introduced a regulation mandating that the sugar industry (the country’s main export product) obtain export licences and disclose commercial contracts. However, in March 2024, Belize’s High Court ruled the measure unconstitutional, citing violations of confidentiality and privacy of commercial information. In February 2024 update, Belize was removed from the EU’s blacklist of non-cooperative jurisdictions and was placed in the “grey list” to reflect its ongoing reforms. Overall, the country ranks 66th out of 184 on the latest Index of Economic Freedom.

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Latest Update: October 2025