REQUEST A QUOTATION
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.
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 approximately 321,000 of which some 70,000 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.
Belize is a parliamentary democracy and constitutional monarchy which recognises HM Queen Elizabeth II as head of state represented by a Governor General who must be a Belizean national. The National Assemby is composed of the Senate and the House of Representatives, the Senate has 12 members and the House of Representatives comprises of 29 members, directly elected at intervals of no longer than five years. The prime minister and cabinet have executive power.
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 and timber and wood products. The offshore finance industry is generating an increasing proportion of national income.
The official and spoken language is English but Spanish is widely spoken.
The Belize Dollar (BZ$).
Offshore activities are exempted from exchange control.
Common Law. Based on English Company Law.
International Business Companies Act, 1990, amended 2000.
Registered Agent delivers the Memorandum of Association and Articles of Association to the Registry together with the appropriate fee.
Cannot trade within Belize or own real estate there. Cannot undertake the business of banking, insurance, assurance or reinsurance, company management or registered office facilities for Belizean incorporated companies.
A Company incorporated in Belize has the same powers as a natural person.
Any name that has already been incorporated in Belize, or is so similar as to cause confusion. 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 can be incorporated using any language. Chinese language incorporations with Chinese documentation are very popular.
Yes, must be maintained in Belize at the address of a licensed management company.
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.
Limited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima, Aktiengesellschaft or the relevant abbreviations.
The usual authorised share capital is US$50 000 divided in to shares with or without par value. From 15th April 2013 the share capital of IBC's may be increased up to a maximum of US$10 million without reference to the Registrar General. However any requests for a higher capital must be submitted to the IBCR with the following information.
1. Present Share Capital of the Company
2. Proposed increase
3. Reasons for the increase
4. Source of funds
5. Notarised bank statements showing that the money to pay for the increase is available
The share capital may be expressed in any currency. The minimum issued capital may be one share of no par value or one share of par value.
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 worldwide profits to Belize authorities.
Belize is not a party to any double tax agreements.
Companies with an authorised capital up to US$50,000 pay the sum of US$100 per year.
Companies with an authorised share capital over US$50,001 pay the sum of US$1,000 per year.
Companies with some or all of its shares of 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 may 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.
Information Downloads & Order Forms
Access to this statutory material is provided by the International Tax Planning Association. Access to other laws relating to international tax planning is available to members on the Association's website, www.itpa.org.
International Business Companies Act 1990 (Revised Edition, 2000)
A bespoke 'offshore' solution can be complex and requires careful planning and execution. We therefore encourage our clients to contact us directly, without obligation, for a Free Initial Consultation.
Our experienced consultants will gladly assist with advice on how to approach your particular challenge.
To make contact with a consultant at one of our offices who speaks your language, click here for a full list of our office contact details.