Government Grants Temporary Residencies for Foreign Investors

Belize wants to change its image as one of the toughest places to do business. The Prime Minister’s Office is rolling out a bold new plan: temporary residency for foreign investors. The idea is to cut through the red tape and make Belize a more attractive, competitive destination. CEO Narda Garcia broke down what’s driving this big shift.

 

Narda Garcia, CEO, Ministry of Investment

“We have a meeting on Friday, tomorrow, to look at exactly what will be the requirements. However, I can tell you from a broad perspective is that we have many investors that go through a lot coming into Belize. So for example, we have investors that have BPO in Panama and then have a BPO in Belize and they try to come in and they take them through the mill, so to speak. And that, we believe, is not conducive for investment. It’s not conducive for good business. So we are trying to facilitate that type of situation. And maybe later on we will know exactly what will be the requirements and how we will get to that, but that’s what we are trying to do.”