Belize Company Formation from 1199 USD
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Belize company incorporation packages

Services GOLD
1199 USD
PLATINUM
1699 USD
Company registration including government fees
Registered address for 1 year
Apostille
Company seal
Share certificate
Provision of professional shareholder for 1 year  
Provision of professional director for 1 year  
Total cost
1199 USD
1699 USD
Annual renewal fee 750 USD 1250 USD

Free Consultation

Why choose us for your Belize offshore company formation?

Why open a company in Belize?

Here are just a few reasons why businessmen and entrepreneurs may want to register a company in Belize for their international business: 

Belize IBC incorporation 

Belize IBC vs. Belize LLC

Although Belize offers a variety of business organization forms, a Belize IBC (International Business Company) is by far the most popular. It should be distinguished from a Belize LLC (Limited Liability Company): an LLC has a different ownership and management structure and all its profits and losses must be allocated to its members within a single fiscal year, whereas an IBC can “retain” its earnings from year to year. Overall, Belize IBC formation is much more common for a non-resident operational business.   

Statutory requirements 

Every Belize IBC must have a local registered office and a registered agent. 

The company is required to have at least one director and one shareholder, whether individual or corporate, resident or not. 

There is no minimum share capital. IBCs with the authorized share capital of more than $50,000 pay a higher government fee. Bearer share shave recently been prohibited.

Register of Directors 

The International Business Companies (Amendment) Act 2017 imposed on IBCs the requirement to keep a register of directors and determined what information it must contain in the cases of individual and corporate directors. It is true that many companies chose to have such register even before the enactment, but the amended Act disposed with the optionality and made it an obligation. 

A register of directors can be kept electronically, with a copy necessarily provided to the registered agent and kept at the registered office. A register of directors is NOT public. 

Register of Beneficial Owners 

The International Business Companies (Amendment) Act 2017 also imposed on IBCs the requirement to keep a register of beneficial owners, which must contain accurate and up-to-date information on the companies’ beneficial ownership. 

A beneficial owner is defined as a natural person who ultimately owns or controls a customer, on whose behalf a transaction is being conducted, or who exercises ultimate effective control over a legal person or arrangement. The International Financial Services Commission, the Belize corporate regulator, has determined the “ultimately ownership or control” in terms of figures – 10% or more of the entity’s shares, ownership interest or voting rights. The time allowed for a person becoming a beneficial owner of the company to inform that company (effectively its registered agent) accordingly is 30 days. 

It is important to note that the register of beneficial owners should be kept at the registered office in Belize, but it is NOT public.

Statutory Instrument No. 62 of 2018 was later passed to also introduce a Declaration of Beneficial Owners (Form A) stating who the beneficial owners of the company are – this is a document that the company’s directors have to sign and submit to the registered agent in addition to the register of beneficial owners. 

Accounting Records 

With the coming into effect of the Accounting Records (Maintenance) Act 2013, every Belize company is now required to keep its accounting records. Accounting records include financial statements; general and subsidiary ledgers; sales slips; contracts and invoices; and records and documentation relating to: the company’s assets and liabilities, incoming payments and expenses, sales and purchases, and financial transactions.

Accounting records can be kept at the registered office or at any other physical address within or outside Belize chosen by the company’s directors for that purpose. If they are kept outside Belize, the registered agent must be informed of the location’s address and of its change within 14 days. Accounting records must be retained for at least 5 years from the closure of an account, or the end of a transaction, or the termination of a business relationship.

Online Register of Companies 

Unlike many classic offshore jurisdictions, Belize has an online register of companies. The information you can get access to is, of course, very limited, most of the important data such as details of directors and shareholders, or share capital, being kept privately. But at least you will be able to see:

Nominees for a Belize IBC

We do not only incorporate Belize IBCs, we provide nominee directors and nominee shareholders for them. It should be noted that to avoid the risk of being treated as tax resident due to the locally exercised “management and control”, offshore companies almost never have resident directors or shareholders. Belize is no exception.

A nominee shareholder effectively holds the shares in trust for the client, agreeing to act upon his legitimate instructions. This trust relationship is created by the nominee shareholder issuing a declaration of trust, or by both the nominee shareholder and the beneficial owner signing a bilateral document – deed of trust.

A nominee director would issue a Nominee Director’s Declaration stating that he only acts on instructions of the client and not of his own free will, and would often issue a power of attorney (general or special) to the client, thus transferring to him most or some of the management powers. This way the nominee director’s name will appear on the register of directors, but the day-to-day operations will be ceded to the client. It is also not uncommon for a nominee director to sign all the operational documentation such as contracts, corporate resolutions, invoices etc, if the client so wishes, in which case the director may want to understand the essence of the transaction.

Provision of nominee services is a licensed and regulated business. And the growing compliance requirements may make the nominees review the documents and business transactions of their clients rather carefully.

New Incorporations vs. Shelf Companies

A new Belize incorporation takes around two weeks on average. It can be a bit shorter or a bit longer, depending on your purposes and the documents you wish to get. If you are happy with the standard documents but would like your company to have a certain name of your choice, incorporation will not take long. If, say, you want to substantially amend the text of the standard M&AA (Memorandum and Articles of Association), it will take longer because amendments should first be checked by a local lawyer for their compliance with the IBC Act.

Buying a shelf (ready-made) company in Belize is a good alternative for those who need to make a quick start and begin business operations immediately. You can receive the corporate documents within 1 day, provided that no personal changes to the company documents are required. All you need to do is to choose a name from the list of available shelf companies and provide your details required for compliance with Belize corporate and anti-money laundering legislation. 

Economic Substance (Physical Presence) 

In the recent years the laws of many countries have been substantially amended in an effort to increase transparency of international business and close down on tax evasion and treaty shopping. Key offshore jurisdictions, such as BVI, Belize and Caymans, were particularly affected by the coming into force of the economic substance legislation. The term used in Belize is the “physical presence” requirement.

The International Business Companies (Amendment) Act, 2018 came into force on 1 January 2019. Under this new Act, all Belize IBCs are equated to local resident (domestic) companies and can now do whatever domestic companies are allowed to do: conduct business in Belize and with Belizean residents, own local land or property, open bank accounts in Belize dollars etc. 

Basically, now IBCs will need to choose, whether to be a Belize resident or not. 

If a company chooses to be non-resident, i.e. not conduct business in Belize or receive income from sources in this jurisdiction, it must provide proof that it pays tax elsewhere. It is expressly stated that an IBC does not become a resident simply by the fact of holding deposits in Belize; maintaining contact with local professionals such as lawyers, accountants, administration companies, or investment advisers; or by keeping its books and records in Belize.

If a company chooses to be resident, it must:

If a company has income from sources in Belize, it can obtain a local tax number – Belize Tax ID.

In terms of banking, a resident IBC can have USD accounts at local banks and at foreign or international banks located in Belize; can apply to the Central Bank of Belize for permission to open a foreign currency account at a Belizean bank; has to submit to the Central Bank of Belize monthly reports of all transactions in its USD accounts and of all sales and purchases; and is subject to the Exchange Control Regulations Act.

Physical Presence

The International Business Companies (Amendment) Act, 2018 added a whole new chapter on Physical Presence, making it obligatory for companies to be physically present in Belize if they do any business licensed under the International Financial Services Commission Act. 

Physical presence includes:

  1. (a) employment (whether directly or indirectly) of sufficient and adequate number of suitably qualified staff; and
  2. (b) expenses adequate to the size and complexity of business; and
  3. (c) control and management exercised from Belize,  in particular if the company: 

A company that carries on any other (non-licensed) business may choose to be physically present in Belize. But once it has complied with the physical presence requirement, a company will have to stay compliant for a period of at least five years.

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General information

Total area22.966 sq. km
Population334.297 (2013)
CapitalBelmopan
Unemployment12.1% (2013)
Corruption perceptions index rank109 (2008)
Government type parliamentary democracy
Executive branch Government (cabinet of ministers) with a Prime Minister as its head
Legislative branch bicameral National Assembly ( Senate and House of Representatives)
Judicial branch Magistrates Court, the Supreme Court, the Court of Appeal
GDP per capita rank 95 (2012)

Corporate info

Shelf companies permittedYes
Legal systembased on English Common Law
Incorporation timescale for a turnkey company2 weeks
Cyrillic alphabet permitted in company nameNo
Local registered officeYes
Types of entity Sole Proprietorship; General Partnership; Limited Partnership; Private Company; Limited Life Company; Public Investment Company; International Business company; Trust Fund; Joint Venture and Cooperative; Branch; Representative office
Incorporation timescale for a new company 1 day
Company suffix Limited, Corporation, Incorporated, Society Anonyme, Sociedad Anonima, Aktiengesellschaft or related abbreviations: Ltd., Corp., Inc., S.A., A.S., A.G.
Sensitive words Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Municipal, Royal or similar words; Assurance, Bank, Insurance, Trust; words suggesting the patronage of Her Majesty or that of a member of the Royal Family, or a connection with the Government of Belize; indecent, offensive or objectionable words

Shares and share capital

Minimum authorized share capitalNo requirements
Minimum issued share capitalNo requirements
Minimum paid share capitalNo requirements
Authorized capital payment deadlinesNo requirements
Bearer shares permittedYes
Issued capital payment deadlines No requirements
Standard currency US dollar
Standard authorized share capital 50000
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax0%
Capital gains taxNo
VAT12.5%
Withholding tax25%
Exchange controlNo
Personal tax 25%
Corporate tax (in detail) Business tax is imposed on all gross receipts of persons. Taxable persons are self-employed persons, firms, partnership or company. The rates vary according to the source of the income and range from 0.75% (on the sale of fuel and lubricants) to 25% (withholding tax on non-residents). A Belize International Business Company is not subject to any tax or duty on income or profits.
Capital gains tax. Details There is no capital gains tax in Belize.
VAT. Details General Sales Tax in Belize is a tax on consumer spending, collected in stages; that is, at the point of importation and on business transactions when goods change hands or services are performed. The GST rate is 12.5%.
Other taxes property tax; land tax; environmental tax; customs duties; revenue replacement duty; excise duties
Government fee 100 dollars
Stamp duty 0%

Accounts

Party to the Hague Convention (Apostille)Yes
Legal systembased on English Common Law
Double tax treaties network14
OECD memberNo
Offshore/onshore status according to the RF lawsYes
Requirement to prepare accounts Yes
Double tax treaties network 14
Tax Exchange Information Agreement network 20
OECD member No

International law relations

Party to the Hague Convention (Apostille)YesLegal systembased on English Common LawDouble tax treaties network14 OECD memberNoOffshore/onshore status according to the RF lawsYes

Tax treaties

Tax treaties entered Antigua and Barbuda, Austria, Barbados, Dominica, Grenada, Guyana, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Switzerland, Trinidad and Tobago, United Arab Emirates, United Kingdom
Tax Exchange Information Agreement (TEIA) Australia, Belgium, Czech Republic, Denmark, Faroe Islands, Finland, France, Greenland, Iceland, India, Ireland, Mexico, Netherlands, Norway, Poland, Portugal, South Africa, Sweden, Switzerland, United Kingdom
United Kingdom
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General
+44 207 822 8592+44 207 822 8594
French speaking customers:
+44 207 822 8595
Our address:
8-12 New Bridge Street, London,
EC4V 6AL, United Kingdom
Have a question?
Contact our team
client relationship manager-Valery
Ms. Valery F
Corporate expert consultant
Languages: English
+44 207 822 8592+44 207 822 8594 info@infinity-group.sc Skype Request a callback
client relationship manager-Chanelle
Ms. Chanelle F
Corporate consultant
Languages: French
+44 207 822 8595 info@infinity-group.sc Request a callback
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