Belize Offshore Companies

Belize was the site of several Mayan city states until their decline at the end of the first millennium A.D. The British and Spanish disputed the region in the 17th and 18th centuries; it formally became the colony of British Honduras in 1854. Territorial disputes between the UK and Guatemala delayed the independence of Belize until 1981. Guatemala refused to recognize the new nation until 1992. Tourism has become the mainstay of the economy.

The Belize International Business Company (IBC) is formed under the Belize International Business Companies Act. This piece of legislation was initially adopted in 1990 and further extended and amended in 2000. Belize IBC Act is considered internationally as one of the most modern and user-friendly offshore corporation legislations available today.

A Belize IBC is a perfect corporate vehicle for international financial transactions, being especially designed with the offshore investor in mind. Belize's laws facilitate fast and simple incorporation, and its modern and computerized IBC Registry is capable to process a company registration within one hour.

> Key Corporate Features
> Belize General Information
> Belize Company Information
> Belize Compliance

Key Corporate Features

Belize General Information

Belize (formerly British Honduras) lies on the eastern or Caribbean coast of Central America, bounded on the north and part of the west by Mexico, and on the south and the remainder of the west by Guatemala. The inner coastal waters are shallow and are sheltered by a line of coral reefs, extending almost the entire length of the country. Belize has an area of approximately 23,026 sq km.

The administrative capital of Belize is Belmopan, but the major commercial centre is Belize City, which is located on the eastern coast.

The total population of Belize is around 300.000 of which some 60.000 live in Belize City. The population of Belize is ethnically diverse and includes descendants of the original Mayan culture and people of Caribbean, Caucasian, Chinese and East Indian descent.

Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. Executive authority is exercised by the cabinet under the leadership of the prime minister, subject to approval by a 28 member Senate with the majority appointed on the recommendation of the prime minister.

There are two main political parties; both parties are committed to the economic development of the country and the encouragement of overseas investment.

Major exports are sugar, bananas, citrus products, fishery products, garments, timber and wood products. The offshore finance industry is generating an increasing proportion of national income.

The official and spoken language is English. The official currency is the Belize Dollar (BZ$). Offshore activities are exempted from exchange control.

The type of law is common law based on English common law. The principal legislation are the International Business Companies Act, 2000, and the Limited Life Companies Act, 1999.

Belize Company Information

The types of company for international trade and investment are the Belize International Business Company (IBC) and the Belize Limited Life Company (LLC).

The procedure to incorporate is quite simple: the registered agent delivers the Memorandum of Association and Articles of Association to the Belize registry together with the appropriate fee.

Belize has one of the fastest Registries of International Business Companies in the world. New IBC`s are usually incorporated within 24 hours.

The following restrictions on trading apply: an IBC or LLC can’t trade within Belize or own real estate there and also can’t undertake the business of banking, insurance, assurance or reinsurance.

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

Language of Legislation and Corporate Documents is English.

Shelf companies are available.

A Belize IBC may be incorporated using a name in any language.

A registered office is required and 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.

There is no disclosure of beneficial ownership to government authorities.

Belize Compliance

The usual authorised share capital of a Belize company is US$ 50.000 divided into shares with or without par value. The share capital may be expressed in any currency. The minimum issued capital may be one share which is fully paid.

The following classes of shares are permitted: registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

A Belize International Business Company does not pay any tax on its world-wide profits to Belize authorities. Belize IBC's may not be used to access any of Belize's double taxation agreements.

Companies with an authorised capital up to US$ 50,000 pay a license fee of US$ 100 per year. Companies with a share capital over US$ 50,000 pay the sum of US$ 1,000 per year. Companies, which have some or all of their shares with no par value, pay the sum of US$ 350 per year.

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.

A Belize IBC may have a minimum of one shareholder, one director, both of whom may be the same person. There is no requirement to have any Belize-resident directors or shareholders. Foreign individuals or corporations may hold shares in a Belize IBC or act as its directors. Corporate directorship (the directors` function in a company executed by another company) is expressly allowed.

Apart from the director, the company is not obliged to appoint any other officers, however it may certainly do so, if needed. The minimum number of shareholders is one.

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Detailed information you can get under the following email-address or you can use our contact form.