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Belize is a Caribbean nation on Central America's northeastern coast. It is bounded to the north by Mexico, to the east by the Caribbean Sea, and to the west and south by Guatemala. It has a land area of 22,970 square kilometers (8,867 square miles) and a population of 419,199 people (2020). Its mainland is about 290 kilometers (180 miles) long and 110 kilometers (68 miles) broad. It has Central America's lowest population and population density. Its annual population growth rate of 1.87 percent (2018 estimate) is the second highest in the area and among the greatest in the Western Hemisphere. Belmopan is the capital, while Belize City is the biggest city.
Between 1500 BC and AD 300, the Maya civilization moved into Belize and thrived until about 1200. Christopher Columbus traveled around the Gulf of Honduras in 1492, establishing European contact. English settlers began European exploration around 1638. Both Spain and Britain claimed the area until the British beat the Spanish in the Battle of St. George's Caye (1798). In 1840, it became a British colony called British Honduras, and in 1862, it became a Crown colony. On September 21, 1981, it declared independence from the United Kingdom.
Belize has a varied civilization made up of numerous cultures and languages that reflect the country's rich past. It is the only Central American nation where English is the official language, and the most frequently spoken variety is Belizean Creole. The second most prevalent language is Spanish, followed by Mayan languages, German dialects, and Garifuna. Because of the different language origins of the people, more than half of the population is bilingual. It is well-known for its September Festivals, huge barrier reef coral reefs, and punta music.
Belize's wealth of terrestrial and marine species, as well as its environmental variety, position it in the center of the globally important Mesoamerican Biological Corridor. It is a Central American and Caribbean country with significant links to both the American and Caribbean continents. It is the only nation with full participation in all three regional organizations, the Caribbean Community (CARICOM), the Community of Latin American and Caribbean States (CELAC), and the Central American Integration System (SICA). It is the only mainland Central American nation to have a Commonwealth realm, with Queen Elizabeth II as queen and head of state, who is represented by a Governor General (currently, Dame Froyla Tzalam).
Per year, employees are entitled to two weeks of paid vacation.
There are thirteen public holidays in Belize.
After working for an employer for 60 days, an employee is entitled to sick leave. The employee is entitled to 16 days of paid maternity time in a 12-month term. The employee must present a medical report to the company in order to be paid.
Social insurance provides for illness after the 16th day. Sickness premiums are charged for up to 234 days; for the first 156 days, 80 percent of average weekly insurable earnings is paid, and for the next 78 days, 60 percent of average weekly insurable earnings is paid.
Employees who give birth to a child are entitled to 14 weeks of paid maternity leave. Before the birth of the boy, you will take up to 7 weeks of leave. A prenatal leave of at least two weeks and a postnatal leave of at least seven weeks is required.
Employees are paid 80% of their gross weekly salary. The minimum weekly benefit is 44.00 BZD, and the highest weekly benefit is 384.00 BZD.
No law in Belize requires that companies provide their employees paternity leaves.
Parental leave in Belize is also not required by the law.
Unless an employer can demonstrate a compelling reason for dismissal without notice (for example, owing to misbehavior, disobedience, lack of expertise, disregard of responsibilities, or absence without authorization), written notice is needed.
The notice period is determined by the length of employment of the employee. Employees who have worked for more than two weeks to six months will be given a week's notice. After six months to two years of work, there will be a two-week notice period. Employees with more than two years to five years of service will receive a four-week notice period. Finally, employees who have worked for the company for more than five years will be entitled to an eight-week notice period.
The probation period is fixed at two weeks.
If the employee has worked for the company for five to ten years, the severance pay will be one week's wage for each year of service completed. If the employee has worked for the company for more than ten years, the severance pay will be two weeks' pay for each year of service.
A typical workweek consists of 45 hours. A workday should not exceed nine hours without overtime, and all employees are entitled to a weekly rest day. Sunday is the customary rest day, though the employer may elect to include another day of the week in the employment contract.
An employee is never required to work overtime, but may elect to do so. Overtime pay should be calculated for any hours worked beyond the agreed-upon schedule. Pay must be at least 150 percent of regular wages. If an employee works on his or her scheduled rest day, he or she should be compensated at the same overtime rate.
The minimum wage for unskilled workers is 3.30 Belize dollars (BZ) per hour in all sectors. If an employee possesses a certificate or additional training in their field, they have the ability to bargain for a higher wage. Additionally, the Wages Councils for various industries have the authority to adjust the minimum wage as they see fit.
Because the nation has public health care and a social security fund, enforcing a health insurance is not required. If employers want to offer a health insurance plan, there are private health care facilities on the island.
The employment statutes do not specify any incentives or extra perks. Employers may provide these incentives as you see fit.
There is currently no information regarding the corporate tax rate in Belize.
Individuals in Belize are imposed an income tax rate that ranges from 0 to 25 percent. The actual percentage varies depending on the income tax bracket the individual belongs to.
The standard rate for the value-added tax (VAT) or goods and sales tax (GST) in Belize is set at 12.5 percent.
Before any foreigner may work in Belize, they must first get a work permit. The Ministry of Labour processes and approves the issuance of work permits for periods ranging from three to twelve months. Depending on the person's degree of ability, the Immigration Department and the permission charge might range from 100.00 BZD to 600.00 BZD.
The applicant will require the following items after receiving and completing the form:
1. three passport-sized photos (signed on the back)
2. A letter from San Pedro's Mayor describing the nature of the job request
3. A letter from the Belize Tourist Board outlining the nature of the job application
4. If an employer applies for the permit on behalf of a potential employee, the employer will invite them to an interview to demonstrate that a Belizean cannot fill the role.
5. Proof of at least six months' residency in Belize.
The Ministry of Labor typically takes at least one month to analyze, accept, or reject work permit applications.
The name of the employer or employers and the place of employment
Identification of the worker
The name and addresses of the worker’s relatives
The nature of the job
The duration of the employment and the method of calculating this duration
The appropriate period of notice to be given by the party wishing to terminate the contract
Wages and benefits
Any other specifications
Employment contracts in Belize may be explicit, inferred, written, or oral, for a set period of time, for an indeterminate period of time, for an individual or for a group. Oral contracts are not legitimate and enforceable unless the employee's job begins within one month of the contract's date. The first two weeks of an oral contract are considered probationary and may be cancelled at any time by either party without notice. The parties may reach a different conclusion.
Employment contracts lasting more than three months must be in written and signed by the employee.
United States Dollar (USD)
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You should develop a corporate structure before establishing a subsidiary. This strategy might cover the sort of business you want to start as well as where you want to be situated. Before beginning the incorporation procedure, decide on a place for doing business. You may then register your business name with the Companies and Corporate Affairs Registry.
After registering your name, you may apply to the Companies and Corporate Affairs Registry for incorporation. To finish the procedure, you'll need your memorandum and articles of incorporation.
It's time to get a trade license once you've received your certificate of incorporation. This license is necessary to run a business anywhere in the nation, and you may get it from the City Council. You must pay an annual fee to keep this license, which is typically equal to 25% of your company's leasing expenses.
To pay taxes and make contributions, you must also register with the Tax Service and the Social Security Board, as well as register for General Sales Tax (GST). GST is a tax on consumer expenditure that is levied at the time of importation as well as when goods or services are exchanged.
A work permit is required to create a subsidiary. Unless you obtain the necessary approvals, you are not permitted to invest in the nation. When forming your business, make sure to secure a work permit from the Department of Immigration and Nationality.
The requisite memorandum and articles of organization are the most noteworthy subsidiary legislation. This paper serves as a blueprint for how you will conduct your business. It should include how you pick directors, manage money, and submit tax data.
