Jurisdictions >> Belize IBC >> Belize Corporation

Belize IBC. Belize Company Formation.

Worldwide Incorporation Services specializes in Belize Company Registration (IBC) and opening offshore bank accounts.

Belize – General Information

Location: Central America, bordering the Caribbean Sea, between Guatemala and Mexico.

Area: total: 22,966 sq km ; land: 22,806 sq km ; water: 160 sq km. …

The Advantages of Belize Company Formation

Belize is an ideal financial location for individuals and corporations seeking to gain tax advantages with confidentiality. A Belize offshore company can be used for asset protection, estate planning, tax mitigation and privacy. The most direct path toward attaining these advantages is by the formation of an international business company, commonly referred to as a Belize Offshore Company – Belize IBC.

Government

The system of government of Belize makes it a stable country suitable for maintaining offshore companies. Belize has been independent from the United Kingdom since 1981 and is a recognized and accepted member of many international organizations like the commonwealth, the United Nations and the Organization of American states. Like other commonwealth countries which include Canada, Australia, Jamaica and New Zealand, Queen Elizabeth II remains the Head of State of Belize, while a prime minister works as the head of the Belizean government. The stability of the government is therefore guaranteed.

Taxation

A Belize IBC is exempt from local taxes including income tax, capital gains tax, dividend taxes and stamp duty on transfer of corporate shares or any other type of property. This simply means that the government of Belize does not demand taxes of any kind from any company registered as an International Business Company in the Belize Tax Haven. The only payment that a Belize IBC makes to the government is the annual business license renewal fee which is either $150 for an Authorized Capital of the Belize IBC of up to $50,000 or the fee is $1,000 for capital above $50,000.

No Annual Reports

Belize IBCs and other forms of offshore companies in the Belize Tax Haven are not required to file any financial or tax records although a law enacted in 2013 requires every Belize IBC to keep accounting records and physically maintain them either within Belize or in a different country. This rather comical situation further cements the beauty of the Belize tax haven because like every respectable business, a Belize IBC keeps accounting records, the catch is simply that the government never asks you about it.

Other Perks

Other perks that further make the Belize tax haven more attractive are the lack of foreign exchange regulations for Belize IBCs, a well-developed financial sector including important infrastructural developments in areas like communication which is necessary for the modern business environment. There are also the Commercial Free Zones and the Export Processing Zones. These zones are huge attractions for investors who are engaged in the international movement of physical goods. The reason is because the Belize Tax Haven is strategically located near the NAFTA trade zone with Mexico bordering it on the north. Businesses in the Commercial Free Zones get 10 years tax holiday and later pay income tax between 2% and 8%. Businesses in the Export Processing Zones are first approved by the government. If they receive the EPZ status, they can then operate freely in the zone, completely tax-free.

Key Benefits of Belize IBC

Exemption from all local taxes and stamp duty
Maximum confidentiality and anonymity
Ease of operation, maintenance and control
Asset security
No disclosure or minimum capital requirements
The minimum number of directors is one
The minimum number of shareholders is one
A minimum of one director is required
Corporate directors and shareholders are permitted
Incorporations within two or three days
Excellent and flexible post-incorporation follow-up services
No statutory requirement to hold annual general meetings
Highly competitive fees and costs

Belize Company Formation – Legislation

Principal Corporate Legislation

Belize IBC Act 1990 as amended.

Type of Law

Common.

Language of Legislation and Corporate Documents

English.

Type of Entity for International Trade, Investment & Tax Planning

Belize IBC (International Business Company)

Belize Offshore Company – Key Facts

Share Capital

Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.

Classes of Share Available

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

Bearer Shares

Permitted.

Restrictions on Trading

Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Agent Required

Yes.

Registered Office Required

Yes, must be maintained in Belize.

Directors

The minimum number of directors is one. Director can be of any nationality and need not be resident in Belize. Corporate directors are permitted.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

No.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Nil.

Double Taxation Treaty Access

None.

Requirements to File Accounts

None.

Requirement to File Annual Return

None.

Audit Requirements

None.

Currency

Belizian Dollar (BZD).

Exchange Control

None.

Name of an Belize IBC

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust”, “Trustee” etc. will require justification.

Name of a Company

The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name of every IBC.

Time to Incorporate

Two days.