Belize Offshore Companies

Belize became a British crown colony in 1862 and became independent in 1981. Belize is now a parliamentary democracy. The government of Belize is fully committed to the ongoing development of Belize as a leading offshore jurisdiction. Through regular consultations with the private sector, the government ensures that its policies and legislation continue to meet the needs and interests of the international financial community in an environment which engenders trust and confidence.

The Belize International Business Company (IBC) is the most popular form of offshore corporate structure. An IBC is formed under the International Business Company Act 1990 and generally must conduct its trading and business outside Belize. However, Belize's legislation also allows an IBC to carry on a number of activities within Belize. Belize offshore companies are used for a variety of tax planning and international investment purposes.

Key Corporate Features
Belize General Information
Belize Company Information
Belize Compliance

Key Corporate Features

Belize General Information

Belize (formerly British Honduras) is a scenically beautiful, independent country located on the Caribbean seaboard of Central America. Belize has an area of approximately 23,026 sq km, and is bounded by Mexico to the north and Guatemala to the west and south.

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

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 has a long history of peace, stability and democracy. It became a British crown colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. In Belize, 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.

Belize's unspoiled environment with cays and barrier reef make it a popular destination for eco-tourists, whilst its clear unpolluted waters are excellent for swimming, diving, fishing and other aqua sports. The country also offers a unique mix of unspoiled woodlands, caves, rivers, mountains, waterfalls and jungle, in addition to a wealth of Mayan archaeological sites. There are also forest reserves, wildlife sanctuaries, marine resort areas and the world's only jaguar reserve.

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.

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 English.

Shelf companies are available. The minimum time to incorporate is one day.

Name restrictions apply on any name that has already been incorporated in Belize , or is so similar as to cause confusion, also any name which in the opinion of the registrar is considered undesirable, obscene or offensive. Names such as royal or imperial and any name that suggests the patronage of Belize government.

A Belize IBC may be incorporated using a name in any language. Chinese language incorporations with Chinese documentation are very popular.

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.

The minimum number of directors is one. Directors may be natural persons or bodies corporate. They can be of any nationality and need not be Belize resident.

A company secretary is not a requirement under the Act, but a secretary is normally appointed to facilitate signing obligations.

The minimum number of shareholders is one.

Contact: info@personaloffice.com