/24-7PressRelease/ - HONG KONG, September 19, 2008 - Recently the European Union made available 65 million euros (US$24.5 million) to small and medium sized businesses in the Caribbean. This is Phase 2 of the Caribbean Trade and Private Sector Development Program.
A move to bring Belize closer to Europe is coupled with the possibility of direct flights by British Airways and Lufthansa from European destinations. This would remove the need to travel through the US and make the visit to Belize less cumbersome.
The 65 million euros is almost immediately available to those small business owners looking to expand their businesses and penetrate new markets - particularly, but not limited to those in Europe. Businesses can qualify for a grant of up to $200,000.
Belizean companies can apply to Caribbean Export for direct financial assistance. There are two schemes. The larger scheme is for projects between 5,000 to 65,000 euros. A company can apply for up to 70% of the cost of a project, provided it is no more than 65,000 euros and that application will be received and reviewed by a small committee which will include Caribbean Export and the EU.
The funds are limited to companies producing goods or offering services, but do not include the tourist industry, which has its own program.
Zetland is able to assist our clients in setting up local companies. These entities may have foreign shareholders, have no tax payable on declared income up to USD 37.500 annually and need a paid-up capital of USD 5000.
Should you be interested in a local limited liability company as part of your structure, please contact us.
Marcin Galas (intray@zetland.biz)
Please visit http://www.zetland.biz
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