Belize : companies
The most common vehicle for offshore operations in Belize is the International Business Company also called the Belize offshore company. Belize companies are commonly formed under the form of private limited liability companies. The IBC revised Act of 2000 stipulates and regulates all laws and rules in regards to the set up and running of an IBC company. Belize’s IBC act is considered to be one of the most modern and user friendly legislations available today. The main characteristics of a Belize offshore company are as follows:
- The company can be formed with only one director and one shareholder.
- It is not mandatory for the shareholders, directors and officers to be resident in Belize and there is no restriction with regards to their nationality;
- There is no minimum capital requirement; shares may be either registered or bearer and may be issued in any currency;
- Easy and very fast registration, thanks to a completely computerized registration.
- There are no accounting requirements;
- Shareholders and directors meetings do not need to be held in Belize
- The only document available on public record is the Memorandum and Articles of Association.
In order to obtain and maintain the IBC status in Belize a few conditions apply:
- It is not possible to have any business activity or to transact in any kind of business with residents of Belize;
- A Belize IBC cannot have ownership interest in real estate in Belize unless it is for official and business use only
- An appropriate license is required in order to conduct Banking, trust or insurance services
IBC’s in Belize are allowed to have activities within Belize without compromising the offshore status for the following reasons or in the following ways;
- A Belize offshore company can have professional contact with lawyers and accountants;
- A Belize offshore company can prepare and maintain books and records;
- A Belize offshore company has the right to own shares in other Belize companies
- A Belize offshore company has the right to own a vessel registered in Belize in name of the company.
By definition of the law a Belize international business company is not subject to any tax or duty on income or profits generated outside of Belize.
In order to be able to incorporate a Belize offshore company, it is mandatory to use a registered agent in Belize. The fees of an IBC will depend on the company's authorized share capital. The governmental fees for a standard IBC in Belize is $100 as long as the capital does not exceed $50,000 and $1,000 for a company with share capital superior to $50,000. In cases where some or all of the share capital is with no par value the government fee is 350$. The minimum IBC license fee is 350$.
A Belize IBC is considered a separate legal person and benefits from all the same commercial rights and powers as a natural person. Confidentiality is one of the main benefits of a Belize company. Upon registration of a company information in regards to the beneficial owner, director or shareholders is given to the registered agent. The registered agent is legally bound to never give this information to any third party. Therefore the only information available on public record are the memorandum and articles of the company; these do not under any circumstances contain any information on the people involved in the company.
Demography - Economy - Banking - Secure tax haven - Double tax agreements
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