Please forgive if this has been covered before. I did searches but couldn't come up with an answer.

Here's my question in a nutshell.

Is it possible for a non-citizen to buy an existing business in Belize and own / operate it?

If so exactly how is it accomplished, an LTD company established in Belize or something else?

Thanks!

Yes you can. You need to obtain a self-employed work permit.

Thanks Amanda, does that apply even if I'm not in the country currently? I'm working on moving but need to secure business income before taking the plunge. So the business and employess would be as is, but the actual ownership would be mine. So technically I wouldn't be "working" in Belize for at least some period of time.

The only reason you would need a work permit is if you are actually working in Belize. You can own the business and just get your passport stamped every 30 days while in Belize. However, you cannot actually "substitute for" or do anything you would normally employ / pay someone to do (operations wise).

Hope this makes sense!

Snoopysmom is correct. If you do not live here you can buy and own a business that is operating in Belize. You can oversee your books, make executive decisions etc but you can't physically be "working" behind the counter so to speak.

Once you live in Belize you can only work behind the counter (physically work in any capacity) when you have a valid work permit.

Glenn, your plan sounds great but be forewarned that operating a business on the island is hard work to make sure it can keep its doors open, never mind being successful. If the owner of the business is not present to 'supervise', you generally will have a larger chance of failure. Of course, there are exceptions to every rule.

I don't want to be negative but so many people have moved here with the wrong impressions of island life and have ended up packing it in and moving back home. When investing in a business, you have much more to loose so please be sure you do your due diligence first!

Thanks, Snoopysmom, Amanda and JZB.

I completely agree about due diligence, BTW there's a world of difference between negativity and good advice! I'm trying to do that diligence now. Few business' will fill your bank acount with untold millions while you sit back on the beach with a drink in hand.

With that said part of my plan includes securing a local lawyer. Is there a firm or individual on Ambergris Caye that would be recommended?

Also has anyone here run a business on the island from a distance (or even on the island)? What are the unique challanges? (please PM me if you don't want to air laundry out in the open, I really am looking for advise.)

Clearly there are many differences between a Butcher Shop, Parasailing, Burger Joint, Resturant, or Resort (some of the current business' for sale from what I can see)but does the operation differ that greatly from the same operations in the States or elsewhere?

Again, thanks for the replies, they really are appreciated. I've read through MANY of the posts here and caught the common themes and cautionary tales for the would be resident in Paradise.

Did you watch the series "Deadwood" on HBO? Kinda like that...

Haha!! Yes, I loved that series. So tribute to Al Swearengen or wind up with Wu's pigs?

Before you buy any business use your common sense and do some homework.

Make your investigations, look at their books, the latest tax record and verify there business with the main source on there supplies. This is the only way to see if a business plan makes sense.

It is getting more popular here for long distant business owners to utilize online monitoring tools such as video cameras and software (quickbooks) to access business activity/data frequently.

Having said that, "boots on the ground" or a strong, trustworthy manager/ oversight person in place will be key. I would imagine this would apply anywhere. "When the cat is away......"

I have been a business owner all my life, and I would NEVER attempt to "run" a business long-distance. "Running" a business means exactly that: YOU run it. You have to be on top of your business all the time, making sure that customers are treated properly, inventory is in line, books are balanced accurately and honestly, etc. Yes, there will always be shrink due to a moderate amount of internal theft, but that is the price of doing business. We have only one location of our retail chain that is a bit away (1 hour driving time), but we are lucky in the fact that it has been run by a dear and trusted friend for the past 10+ years. Not all friends/family can be trusted.

Insanity to try and have a business down here and live in the states. Most of these island guys where born learning to take advantage of foreigners coming to the islands. Its practically a heritage and the Gringos are the commodity.

Perhaps "run" is a bad choice of words. "Own" would be a more appropiate term in this case for the time being at least. Certainly day to day operations can be handled by a competent site manager (the person doing the "running") and staff. Or doesn't that model hold true on AC?

Elbert, can you give me some examples?

You can own a business and leave it in someone else's care, but between the general entitlement to everything gringo owns, no sense of personal responsibility and inability to distinguish "take" from "borrow" don't expect much in terms of profits. Why bother at all? If all you want is to invest money, there are much safer ways of doing it without you having to be here cracking the whip.

Examples of successful island businesses with absentee owners - Ramons, Mata Chica, Victoria House. There are probably more, but these come immediately to mind.

It's the mom-n-pop stuff that is hard to own/run successfully from afar. Usually there is just not enough cash to hire a manager who cares as much as the owner. IMHO this is true just about everywhere and is not country-specific.

Sorry Diane that list doesn't impress me.
All good examples of Emory Kings rule,'If you want to make a small fortune in Belize, bring a big one!'.

So would it be a safe assumption(oxymoron) that most/many/majority of local business are operated with the owner on site/present/available for most of the operating hours/times?

If you have the right people it can work, but most try and hire locals to manage their business and its a formula for crash and burn.
Good managers can do it, trick is finding the good managers.

Yes. It's not a job, it's a lifestyle.

Agree! That applies no matter where you operate though. With unemployment what is is, is finding good people that difficult? If so why?

If that seems like an obvious question, please forgive, I'm on the outside looking in.



Yeah about that...I'd like to work a little less and enjoy life a little more. I used to change the oil in my car for years. I finally figured out that for a couple bucks more there was a whole industry willing to do it for me. This is kinda like that.

Again, I just trying to figure out what those barriers to sucess are. As a Risk Managment friend always says, it's not about risk elimination, it's about risk managment.

Pick your poison: no work ethic, poor education/abilities, "anti-slave" mentality, "island time", alcoholism/drugs, and the list goes on. There are a few good people out there but they're all employed.


When I write it's a lifestyle, I mean it is just that 8 days a week. So find a business you love. There are business owners clamoring for someone trustworthy they can leave manage their business for a week or two just to get a break. Now there's a job for you.


Come visit. It won't take you long to figure it out.

Wow, that's quite an indictment.



Just left actually, but that's a visitor/tourist. Which doesn't really lend itself into the insight of the locals, or people that actually live there. The underbelly if you will. Hence my questions.

Glenn,
Glad to hear I am not the only person that will attempt such a venture. I am retiring from my current job in 5 years and will move to Belize. Like yourself I plan on keeping busy by investing in a business. I did look at a few that were for sale and even contacted Hugo Miguel, Vista Realty to further my interest nationwide.
I did accept from the beginning that as long as I broke even while "Observing" from the states I would be satisfied. Lots of great advice from the folks on this website.
I came to these conclusions, I am not buying a business there until I retire. I will start my own business when I get there, this will maximize my water time.
I have id'd several potential business ventures for the area, My advice is for you to research the area and determine a niche that needs filling and go for it.

What brought you to that conclusion?

As stated above the reliability of the person I leave there to run the business. I am not a micro manager but I do want visibility of the on goings, not sure if I would have the trust.
Secondly; it allows me to visit repeatedly and determine the business I think will make a good fit for Belize and myself. I have some ideas, but I need to build the pesonal relationships with ex-pats that live full time in Belize. I have no doubt what I want to do will succeed but as we both know location location location.
If I am lucky and find that ex-pat or local that would be a good partner then I will make a move, but again I need to make sure I have done my homework.

OOPs as far as maximizing the water time: The business I will choose to opporate is not to fund my living in Belize, I have enough for that. It is to keep me occupied and to help the local economy.
When I retire it is to enjoy the fruits of my labor and travel.

Thanks John, that clarifies.

Many people get off of the airplane and develop Caribbean Fever. They then buy a business that they could have started on their own for 1/3rd as much.
Make afew more trips down and speak with as many ex-pat business people that are willing to lend advice as you can.

And then there was this guy who took a chance and pursued a wild dream like bringing a bunch of people to Belize to jump out of airplanes. And lots of people told him he was nuts ......
:-)

He is nuts...;) He just wouldn't listen:)

I tried to warn him, lol.

Everything has a budget center.

Whats wrong with jumping out of planes, I like jumping out of planes.

It always amazes me when someone comes here, buys a business that is loosing money, then change the name and opens the doors thinking they will be successful in a property that has not done well and is only leased.
What do people think they are buying? Goodwill? Inventory? For instance; The Stained Glass Pub was a successful restaurant for sometime – until the owners split up and went back to the states. The building set empty for over a year and finally was sold (I was told for about half the asking price). The new owner promptly changed the name and the menu. It was a disaster. The same location has gone through any number of owners since then, always with a name change.
I would challenge any prospective buyer to ask around and find out what you are actually buying.
A recent littler operation was a fellow who ran a good restaurant, but not making money, solicited for partners to open a new restaurant. He got two new partners then started selling out his 50% to one of them until he was completely out of the business. So, what dud these new people buy?
I’ve been watching to see when someone would recommend our favorite Caribbean tale; Don’t Stop the Carnival. DO NOT ATTEMPT A BUSINES HERE UNTIL YOU HAVE READ AND UNDERSTAND THIS.
The culture here is very different from most of the US. There seems to be no shame in being caught stealing or lying. I have seen people caught red-handed stealing – getting fired – and coming back in two weeks asking for a job. The USA has entitlement programs – there are special ideas of entitlement here.
Don’t get me wrong – I love it here – I just live in reality and know when I ‘loan’ someone something I have ‘given’ it to them.

I'll take that challange!! I'm asking what folks here think of the following.

Parasail Business
Resturant Casa Picassa
Scuba Dive Center
Unique Coffee Shop
Printing Business
Burger Joint

Are some of the current business' for sale. Which ones are the winners and which are the losers?

Here's a more complete list, but any feedback on the above would be helpful and interesting.

http://www.businessesforsale.com/search/Businesses-for-sale-in-Belize

Why buy a parasail business? Just start your own. Fuel, boat and parachute maintenance will bankrupt you. Sun and salt is bad for canopies.

Casa Picasa was well known because of the couple that ran it and the excellent food. It's been out of business for a few years now. A new owner would have to put a lot of effort into bringing it back to it's glory days. But then all restaurants are a lot of work. Triple the work in San Pedro.

Scuba dive center. Way too much competition. And fuel, employee costs and boat maintenance are killers.

Coffee shop. How much money does that make?

Printing business. I don't know how much is needed on the island, or who does it.

Burger joint. There's already Legends. Unless that's the one. And again, it's a restaurant. LOTS of work.

Some people have come to San Pedro with pretty good ideas and have worked hard to make it work. Many have left with broken dreams and bank accounts.

There are still pirates in Belize, they just don't have wooden ships and steel cannons any more.

But if you do have the right business venture or set up, San Pedro is a pretty magical place.IMHO

The printing business and Legends are probably the 2 best choices in my opinion.

ARRR! So, tell me, why do they call ye, "Cap'n Feathersword?"

I looked at the lsit of places for sale. I'm with Simon. Printing or burgers. I'd probably pick printing, paper doesn't go bad.

arrgghh matey.

You're all misled, take a couple hunnert thousand down with ya and just drink and eat it away. You will feel much in the morning.

Some can make it here...some can't...thankfully...

I'll fell much on the way home from the bar!

What are some of the longer established business', the real "old timer"? Do they have original owners or have they been through multiples iterations?

Reaper - unfortunatly paper does go bad - the humity here makes it impossible to go through a printer. Very short shelf life.

Harriette - I always recommend that folks keep their paper here in the original wax paper wrappers, never plastic. Keep it well out of the way of any fans and AC units, and if you have any of those little silica packets that often come packed in electronic goods then pop one of those in the package. There is one brand that was recently being sold on the island (Hammermill Fore) which for some reason seems to be particularly "absorbent" and unless you plan on using it quickly I would look for an alternative.

How well would a discount movie theater do in San Pedro? I'm considering something along that line.

Lets put it this way in Belize bootleg DVD's come out before the movies are even released in the US and cost 5 US or less. One theatre in Belize City and never seen it even half full, they keep it going because it is a feature of the resort not a money maker.

The comment on the DVD's is accurate, and on top of that we have a movie theatre on the island - "Paradise", across the bridge.

We were considering something along the lines of $1, $2, $3, second run movies. Our interests are to give kids and young adults something to do that was affordable. We think it would be fun to do movie marathons like the Rocky series, the Star Wars series, etc. My husband and I really hate paying $8 for a movie, we thought others might feel the same.

Any other ideas along the lines of affordable entertainment for that target market?

There used to be a cinema upstairs at Island Plaza (opposite Fido's) that showed older and kids movies but it closed down after about a year.

and years before that, there was one on front street..........and then just few years ago, the one back island, west of Tropic. Patterns here?

you might do better (??) with batting cages and bumper cars/gocarts

The Paradise Theatre just over the bridge is offering discount movies on weekends. This is built like a mini version of US movie theaters, and they do not have much business that I can see. They are showing movies that are running in the theaters in the US.....

Thanks to all, we appreciate the input. Batting cages and bumper cars... interesting. How about putt putt golf?

Been done, out of business...

Maybe bowling? No one has tried that yet! Or a drive through cart wash service with frosty beverages while you wait? That is probably a good one for some entrepreneurial kids this summer.

I think if I hired JZB, TQ and Spurs to work at "Reaper's Bikini Cart Wash", I would make a fortune;)

...but everyone's cart would still be dirty

I'd sure like to see a shop with good basic women's hot-weather sportswear. Cotton, washable, unadorned, durable - like an Old Navy or Gap.
There are a lot of ladies boutiques here but they don't carry this sort of thing at all.
I miss Jan's Crock store as well.

It's in the works!

The store next to the Town Board (used to be called Belizean Attitudes) stock the Cotton Products range and I've found several nice (plain) T-shirts and cotton/linen trousers. Not as cheap as ON/Gap but not bad, and good quality. Or there's always the internet!

A service of some sort is always going to be your best bet as opposed to a store front where you have to have fixtures and an inventory where all your money stays tied up. If you have a skill that is not already in over-abundance in a location then that is the way to go.
On another note, there is a bowling alley in Maya Beach (where our house is) and it has done quite well. Apparently the owners had Bally come down and install the lanes etc. and train them and one other person on how to fix the pin changers etc. if something went wrong. Also, another enterprising friend started an ice company and it has done well too.

Also, the restaurant business is hard and extremely competitive and if you have never run a restaurant before I do not recommend it.

Casa Picasso looks like a great opportunity to me. Still has good press circulating, fully stocked, fully renovated, all equipment, turn key. The Seller did a fantastic job. But it will require a lot of hard (but fun) work. IMHO

My idea - ICE CREAM TRUCK! Fill it with $1bz to $5bz frozen treats and maybe some $8bz lunch plates. Get a golf cart version for up north, construction/resort workers will love it. Partner up with a cook/server. It's normally hot here and EVERYONE loves Ice Cream. The paletes man may slash your tires though (just kidding). Millions? No. Thousands, maybe?

We call the chicken puff/sweet bread lady the "crack dealer" as she has us hooked in the office.

CBSP

Wait, I seem to remember the ice cream truck (well golf cart actually).
Super delicious Ice Cream.

The hardest thing about having that would be not giving away all the ice cream to the cute little kids with no money.
;o)