BELIZE Company Information

Belize became a British Crown Colony in 1862 and became independent in 1981. Belize is now a parliamentary democracy. The government of Belize is fully committed to the ongoing development of Belize as a leading offshore jurisdiction.

Through regular consultations with the private sector, the government ensures that its policies and legislation continue to meet the needs and interests of the international financial community in an environment which engenders trust and confidence.

The Belize International Business Company (IBC) is the most popular form of offshore corporate structure. An IBC is formed under the International Business Company Act 1990 and generally must conduct its trading and business outside Belize. However, Belize's legislation also allows an IBC to carry on a number of activities within Belize. Belize offshore companies are used for a variety of tax planning and international investment purposes.

Type of Company For International Trade and Investment

The Belize International Business Company (IBC).

Procedure to Incorporate

Registered Agent delivers the Memorandum of Association and Articles of Association to the Belize Registry together with the appropriate fee.

Restrictions on Trading

Cannot trade within Belize or own real estate there. Cannot undertake the business of banking, insurance, assurance or reinsurance.

Powers of Company

A Company incorporated in Belize has the same powers as a natural person.

Language of Legislation and Corporate Documents

English.

Shelf Companies Available

Yes.

Time to Incorporate

1-2 working says.

Name Restrictions

Any name that has already been incorporated in Belize, or is so similar as to cause confusion. Any name which in the opinion of the Registrar is considered undesirable, obscene or offensive. Names such as royal or imperial and any name that suggests the patronage of Belize Government.

Language of Name

A Belize IBC can be incorporated using any language. Chinese language incorporations with Chinese documentation are very popular.

Registered Office Required

Yes, must be maintained in Belize at the address of a licensed management company.

Names Requiring Consent or Licence

Bank, building society, savings, loans, insurance, assurance, reinsurance, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.

Suffixes to Denote Limited Liability

Limited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima, Gesellschaft mit beschränkter Haftung or the relevant abbreviations.

Disclosure of Beneficial Ownership to Government Authorities

No.

Compliance

Authorised Share Capital

The usual authorised share capital of a Belize Company is US$50 000 divided into 50,000 shares of US$1 each. The minimum issued capital may be one share of US$1.

Classes of Shares Permitted

Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

Taxation

A Belize International Business Company does not pay any tax on its world-wide profits to Belize authorities.

Double Taxation Agreements

Belize IBC's may not be used to access any of Belize's double tax agreements.

Licence Fees

Companies with an authorised capital up to US$50,000 pay the sum of US$100 per year.

Companies with a share capital over US$50,000 pay the sum of US$1,000 per year.

Financial Statement Requirements

Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records that reflect the financial position of a company.

Director(s)

The minimum number of director(s) is one. The director(s) may be natural person(s) or body corporate(s). The director(s) can be of any nationality and need not be Belize resident. No details of the director(s) appear on the public registry but a register of director(s) must be kept at the registered office address of the company in Belize.

Company Secretary

A company secretary is not a requirement under the Act, but a secretary is normally appointed to facilitate signing obligations.

Shareholders

The minimum number of shareholder(s) is one. The shareholder(s) may be natural person(s) or body corporate(s). The shareholder(s) may be of any nationality and need not reside in the Belize. No details of the shareholder(s) appear on the public registry but a register of shareholder(s) must be kept at the registered office address of the company in Belize.