US Report: What Washington Thinks of Belize’s Investment Climate
A new United States Government report says Belize is slowly becoming a better place to invest, but corruption, red tape, land fraud and political favouritism continue to keep investors wary.
The US Department of State published its 35-page 2026 Investment Climate Statement for Belize in September. It calls Belize’s investment climate “mixed but gradually improving.” The Government wants foreign money and has made changes to attract it, but the same old problems hold the country back.
What is Getting Better
Starting a business is easier. Owners can now register a company, reserve a name and file documents online through the Online Business Registry System.
Paying overseas suppliers is faster. Commercial banks can now approve many foreign currency purchases under US$50,000 without waiting on the Central Bank.
Getting a loan should become easier over time. Belize launched its first credit bureau in 2025, which lets lenders check a borrower’s credit history. A new insolvency law also gives struggling companies the option to restructure instead of closing down.
The economy grew 2.7 per cent in 2025, its fifth straight year of growth, though slower than the 3.5 per cent recorded in 2024. Foreign investment also increased.
What is Holding Belize Back
Investors repeatedly name the same five problems: slow bureaucracy, rules applied inconsistently, insecure land titles, corruption and secrecy over how the Government awards contracts and settles disputes.
On corruption, the report says the law punishes it, but the Government “did not always implement the law effectively.” The Financial Intelligence Unit investigated 17 cases last year and secured one conviction. Public officials must declare their assets every year, but the report describes compliance as “negligible.”
Businesspeople also told the State Department that politicians from both major parties use their offices to reward allies with licences, Government contracts and public land.
On land, Belize runs several overlapping title systems, surveys are often poorly done and no law regulates real estate agents. Investors report a history of corruption and land fraud at the Lands and Survey Department. In plain terms, buyers must check carefully that the land they pay for is truly theirs.
On competition, the Government controls electricity, water, the main port and the largest telecommunications company. When a US satellite internet provider applied to operate here, existing providers, including the state-owned one, opposed it. It received only a limited licence.
Investors also complain about high electricity and shipping costs, a small market, worker shortages and slow work permits.
Who is Watching?
Meanwhile, the report also drew attention to the Ombudsman’s vacant role since December of 2025. The Government chose not to renew the contract of former Ombudsman Major (Ret’d) Herman Gilbert Swaso. It also pointed at the Auditor General’s report on Government spending remaining significantly delayed.
The latest investigation carried out by the Auditor General’s office involves the Ministry of Defence and the Mira Millions scandal.
What It Means for Belizeans
Public debt sits at 70.2 per cent of the economy, with total public sector debt reaching $4.68 billion. Put simply, for every $10 Belize produces, the Government owes about $7.
Unemployment is low at 1.9%, but Government estimates are that more than a third of workers hold informal jobs. The report also cites evidence that some workers earn below the BZ$5 minimum wage.
Despite Belize launching numerous reforms to attract investors to Belize, “longstanding structural constraints continue to weigh on investor confidence.”