Belize

Belize - Offshore company - Overview

Situated on the Caribbean seaboard of Central America, Belize is known for its political and economic stability and its Legal System based on English Common Law and local Statute. Independent since 1981 Belize is an offshore jurisdiction very convenient for doing business. The Belize offshore company (IBC) is a tax-free and exchange control-free Limited Liability Company. Incorporated under the Belize laws, the offshore firm must conduct all profit-earnings activities outside of the country. Usually most of the Belize offshore companies are used by high net worth individuals to lease and own property, estate planning, tax optimization and also in conjunction with trust and by international companies in cross border transactions. With an outstanding record of peace, democracy and stability, Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned-Movement.
The company incorporation process is fully computerized and modernized. The IBC Registry in Belize can accomplish company incorporation within less than one hour.
For the costs to be maintained at a minimum level there are no minimum capital requirements, no need for audited accounts, no annual returns, no requirement for local director or secretary and no requirement for annual general meetings.
Other advantages an offshore firm incorporated in Belize are: flexibility (only one director and one shareholder); may have bearer shares or registered shares and voting or non-voting shares; the authorized share capital may or may not be a par value; the offshore company may conduct any business that is not prohibited under the laws of Belize save and except for banking, insurance, trust management and collective investments, which requires a license; the offshore company may purchase its own shares and redeem its own shares; confidentiality (nominee directors and nominee shareholders - the only public document is the Memorandum and Articles of Incorporation); there is no requirements for public disclosure or annual filing of accounts; Belize does not disclose its banking or fiscal information under any information-exchange agreements to any foreign parties on grounds of suspected tax evasion.
 

 

Belize

General Information

Type of entity

IBC

Type of law

Common

Shelf company availability

Yes

Company Registration Timescale

1 days

Corporate Taxation

Nil

Double taxation treaty access

No

Share Capital or Equivalent Requirements

Standard currency

US$

Permitted currencies

Any

Minimum paid up

No minimum required

Usual authorized

US$50,000

Directors

Minimum number

One

Local required

No

Corporate Directors Permitted

Yes

Publicly accessible records

No

Location of meetings

Anywhere

Shareholders

Minimum number

One

Publicly accessible records

No

Location of meetings

Anywhere

Company Secretary

Required

Optional

Local or qualified

No

Accounts

Requirement to prepare

Yes

Audit requirements

No

Requirement to file accounts

No

Publicly accessible accounts

No

Recurring Government Costs

Minimum Annual Tax/License Fee

US$100

Other

Requirement to file annual return

No

Change in domicile permitted

Yes

Belize Incorporation Costs

Company registration

590 Euro

Bank account

390 Euro

Annual Tax( from 2nd year)

490 Euro

Optional/Additional costs

Nominee Director/year

200 Euro

Nominee Shareholder/year

200 Euro

Certificate of Good Standing

150 Euro

Power of Attorney

150 Euro

Apostil/document

150 Euro

Company seal

50 Euro

Courier Delivery

80 Euro