MORE ABOUT BELIZE
Currency Exchange
Local currency is the Belize Dollar or BZ$. The Belize dollar has been pegged to the US dollar at a fixed exchange rate of 2:1 (BZD:USD) for over 25 years.
Government and Legal System
Belize has a long-standing history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved independence from the United Kingdom on September 21, 1981. The political system is based on the British Westminster model with Queen Elizabeth II as Head of State being represented by a Belizean Governor General. The leader of the Executive is the Prime Minister. Further, Belize’s legal system and rule of law are firmly rooted in the English Common Law and supplemented by local legislation (with the Privy Council serving as the final court of appeal).
Time Zone
Central Standard Time. Belize does not observe daylight-saving time.
Economy
Agriculture traditionally constituted the major driver of Belize’s economy with such export products as sugar, citrus and banana. Tourism has now surpassed agriculture as the major foreign exchange earnecr and the international financial services industry has been contributing increasingly to the growth and development of the economy. Belize also benefits from a number of preferential market access arrangements, especially with the USA, Canada, and the European Community.
Communication
Belize has excellent satellite and fiber-optic telecommunication services including international roaming with its GSM network. Internet access is readily available through satellite, cable and DSL. International courier services for express delivery through such courier services as FedEx and DHL are well established. The combination of excellent communications facilities, professional service and modern international financial services legislation provides an attractive environment for the international investor.