Belize is one of the most popular international locations for offshore companies. The country is a diverse one and its culture reflects its many influences and historic heritage. The population is multilingual and English is the official language, making the country an ideal place to base an international business. The Belize company registration process is a quick and easy one and can be accomplished in just a matter of one to two days. Moreover, the extremely advantageous taxation principles in this jurisdiction attract a significant number of investors.
Company formation requirements in Belize
You can open an offshore company in Belize for the following activities:
– international businesses and trading;
– movable and immovable property custody;
– intellectual property management;
– inheritance purposes.
The International Business Companies Act and the Offshore Banking Act govern the company formation process in this jurisdiction. A few requirements and restrictions are in place, such as the fact that the International Business Company (IBC) – the offshore business entity type – can only be used for international investment and business activities and not for primary trading with Belize companies. Moreover, the IBC cannot own real estate in Belize. One of our Belize offshore company formation agents can give you more details on these characteristics. In case you would like to start an offshore company in another jurisdiction and your need specialized assistance, our partners who are experts in offshore company formation procedures can help you.
Advantages of opening an IBC in Belize
– no taxes: the Belize International Business Company is not subject to taxes or duty on profits and the same applies to stamp duties.
– no minimum paid-up capital: there are no mandatory requirements for the paid-up capital of an IBC although a minimum amount is recommended.
– just one director and one shareholder: the incorporation requirements are very low and the company can be formed with just one shareholder and one director who can be one and the same person.
– fast and easy bank account set up: opening a bank account in Belize is a simple process and also a fast one.
– complete privacy with nominee directors: investors who wish to enjoy the highest degree of confidentiality possible can use nominee director and shareholder services in Belize.
– guaranteed confidentiality and financial privacy: Belize is a jurisdiction that values the privacy of the foreign investors and no disclosures are needed when forming a company.
Our team describes these advantages in more detail below. Apart from offering a tax-free regime for local companies, another important advantage for many international investors is that English remains the official language, although several others are also common. This allows for an international business environment.
The top reason why Belize is considered a tax haven is that offshore companies incorporated here do not pay taxes on the income they derive from abroad. Moreover, dividend payments made by offshore companies in Belize to non-Belize citizens are also tax exempt. This tax-free business environment determined many foreign investors to open a company in Belize. Nevertheless, investors should know that Belize enforces the global standards for anti-money laundering as well as those for fair taxation. For this purpose, an Economic Substance Act was enacted in 2019 and the legal entities that fall under its scope are those companies incorporated under the International Business Companies Act as well as those licensed under the International Financial Services Commission Act. One of our agents can provide more details.
No capital requirements
There are no specific requirements on the paid-up capital of the offshore company. The share capital may be deposited in any currency and there are minimum government fees upon the incorporation of a new Belize offshore company.
Just one company director
A Belize International Business Company can be incorporated with just one director and one shareholder and there are no requirements for a local secretary. The company director and shareholder can be one and the same person. Another recommendation is to include a registered agent service.
Easy bank account set up
Your offshore company in Belize will need a bank account, in most cases complete with e-banking services. Our company formation agents can help you open this account.
How we can help you
If you are considering forming a business or you need expert help with company registration in Belize, LegalGenius™ is ready to assist you with its skilled team of lawyers, consultants and tax experts. We are committed to making the process as stress-free and streamlined as possible for you, and we will take care of all your document preparation and administrative tasks regarding the registration forms, payment of government fees, local address registration, banking support, etc., whilst always keeping your exact objectives and unique vision in mind throughout the process.
Please use our Company Formation Wizard if you would like to set up your registered company in Belize or if you would like to know the costs involved prior to proceeding with our exceptional services. For other queries and special requests for complex or customised company formation services, please contact us at email@example.com