The Commercial Free Zone Act, was established in Corozal for various business activities. This act offers duty exemptions and tax holidays on goods entering and leaving a designated area. These zones provide an income tax rate of varying from two to eight percent with credits available for a further two percent reductions in rate. For Benefits and other details
Some benefits of the IBC in Belize include exemption from all income taxes, dividend taxes, interest rent and royalties taxes, exemption from capital gains taxes, no citizenship or residency requirements, and meetings of shareholders/directors can be held anywhere.
This act covers a multitude of opportunities including full duty exemptions, tax exemptions (capital gains, sales, excise, consumption, transfer, and more), income tax holiday of twenty years, customs inspection at the zone, no cost work permits for professionals and technical staff, and licensing requirements are removed for import, export, trade licensing for business and domestic suppliers who sell to EPZ businesses. Available in three zones, one zone is eight miles from Mexico and NAFTA, and the other two locations are near Belize City, the commercial capital. Click this Hyperlink further details
The government still offers one hundred percent foreign ownership of both land and company assets. Speculation following World War II led to a significant US investment and influence in the region. In the early 80’s, at the time of Belizean independence, US citizens owned aproximately forty percent of all land in Belize.
The Caribbean beauty of Belize and its barrier reefs, the English speaking language and relatively easy accessibility from both Mexico and the US could prove very valuable in attracting programmers in the future. Recently, DataPro International Ltd. registered for Belizean EPZ developer status and is planning to invest $1.25m US to begin data processing operations in Belize. Click here for further detail or see reference 
 Lowtax.net, supra note 8.
 Belize Trade & Investment Development Service (Beltraide), Investment Guide: Legislation: Commercial Free Zone (CFZ) Act 1994, available at found at http://www.belizeinvest.org.bz/act_cfz.shtml (last visited on Oct. 2, 2002).
 Belize Trade & Investment Development Service (Beltraide), Investment Guide: Legislation: International Business Companies Act (IBC) Act, available at http://www.belizeinvest.org.bz/act_ibc.shtml (last visited on Oct. 3, 2002).
 Lowtax.net, supra note 8.
 Belize Trade & Investment Development Service (Beltraide), Investment Guide: Legislation: Export Processing Zone (EPZs), available at http://www.belizeinvest.org.bz/act_epz.shtml (last visited on Oct. 3, 2002).
 Cubola Productions Chapter 13: Regional Influences on Belize. A History of Belize: Nation in the Making, Jan 11, 2002.
 Belize Trade & Investment Development Service (Beltraide), Investment Guide: Legislation: GAMING CONTROL ACT, available at http://www.belizeinvest.org.bz/act_gaming.shtml (last visited on Oct. 3, 2002).