Belize has one of the smallest economies in Central America with a Freedom Score of 56.6 making it 19th freest index in 2022. Belize focuses its economy heavily on agriculture (10.2%), tourism and services (71.1%), which make up 81.3% of its entire economy. Significant foreign investments can be seen in the energy, telecommunications, and agricultural sectors, with a 4.8% share (2020) in the GDP of the country.
Tourism Professionals, Education Professionals, Medical Professionals, Engineering Professionals, ICT Professionals
The top local university in Belize are follows;
Some common jobs in Belize with average monthly data is mentioned below;
|Job Title||Average Monthly Salary (BZD)||Average Monthly Salary (USD)|
|Information Technology Manager||6,770||3,354|
|Developer / Programmer||3,810||1,887|
Workers are paid weekly, bi-weekly, bi-monthly, or monthly depending on the type of work they do. Commissioned work or project-based output requires the employer to pay bi-weekly, bi-monthly, or monthly.
The minimum wage in Belize is BZ$3.30 ($1.65) an hour.
Overtime in Belize is not required by law to be obligated by employees. However, for a workweek above 45 hours the overtime rate is 1.5 of the normal rate. 45-hour weeks must be paid with 1.5 of the normal rate for every hour worked.
The 13th-month pay is not mandatory in Belize.
Full-time employees in Belize are ensured to have insurance benefits such as
|Tax Rate (BZ$)||For Weekly Income||For Monthly Income|
|Employee Contribution (BZ$)||Employer Contribution (BZ$)||Employee Contribution Rate (%)||Employer Contribution Rate (%)|
|Up to $70||$1.03||$4.47||1.88||8.13|
|$70.00 – $109.99||$1.69||$7.31||1.88||8.13|
|$110.00 – $139.99||$2.44||$10.56||1.88||8.13|
|$140.00 – $179.99||$3.94||$12.06||2.46||7.54|
|$180.00 – $219.99||$5.94||$14.06||2.97||7.03|
|$220.00 – $259.99||$7.94||$16.06||3.31||6.69|
|$260.00 – $299.99||$9.94||$18.06||3.55||6.45|
|$300.00 – $339.99||$11.94||$20.06||3.73||6.27|
|$340.00 – $379.99||$13.98||$22.02||3.88||6.12|
|$380.00 – $419.99||$16.15||$23.85||4.04||5.96|
|$420.00 – $459.99||$18.45||$25.55||4.19||5.81|
|$460.00 – $499.99||$20.86||$27.14||4.35||5.65|
Income tax in Belize is flat 25% of the chargeable income over BZ$ 26,000.00. with the provided personal tax relief in the table below:
|Income Group (BZ$)||Tax Relief (BZ$)|
|26,000.01 – 27,000.00||24,600.00|
|27,000.01 – 29,000.00||22,600.00|
VAT in Belize is 12.5%.
The termination process in Belize requires a standard notice for every employee before termination. However, employers are not required to issue a notice provided if they have reasonable cause due to misconduct and lack of skill.
The notice period before termination for probationary and regular employees ranges from 1 – 10 weeks.
An employee employed for a period of 5 – 10 years is paid one week’s wage for each year of service.
Employees with over 10 years of service are paid two weeks’ wage for each year of service.
Casual workers must work for at least 180 working days in a year to be entitled to severance pay.
Belize doesn’t require many countries to have a visa to access their country. However, applying for a business visa for Belize is straightforward. If you’re a Central American National, you can apply in Belize’s immigration office.
You must have prepared all the documents below to have a smooth visa application process: