Belize IBC

FACTS & INFO

• Corporate Information

  LEGAL FORM

  Belize introduced its own International Business Companies Act in 1990. The Belizean IBC Act was modeled after the 1984 act of the British Virgin Islands and the 1989 IBC Act of the Bahamas.

  Belizean laws allow the following categories of business ownership: Private Limited Companies, Limited Liability Partnership, Limited Life Companies, Joint Ventures and Cooperatives, Partnership, Sole Proprietor, Public Investment Companies and Trusts. The most popular form used by international investors for registering Belize IBC is private limited company. The IBC act prohibits Belize IBC from:

  • Carrying on business with persons residing in Belize;
  • Owning an interest in real property situated in Belize, except lease property for office purposes;
  • Carrying on banking business;
  • Carrying on insurance or reinsurance business;
  • Carrying on the business of providing registered agents/offices for companies.

  Otherwise, a Belize IBC may engage in any activity that is not prohibited in Belize.

  COMPANY NAME

  Belize companies’ names must end with one of the following words, or their relevant abbreviations - Limited, Corporation, Incorporation, Societe Anonyme, Aktiengesellschaft , Sociedad Anonima. The following names to be used, require licensing: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings,loans, Royal, Asset management, Fund Management, Investment Fund, Building Society,Chamber of Commerce, University, Municipal, Chartered. Names denoting any connection to local, state or national Governments are generally prohibited.

  MEMORANDUM AND ARTICLES OF ASSOCIATION

  A company is incorporated in Belize by application submitted to the Registrar of Companies. Memorandum and Articles of Association must be logged with the Registrar. Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company.

  SHAREHOLDERS

  A minimum of one shareholder is required which may be an individual or a corporate body. The details of company beneficial owners and shareholders are not part of the public records.

  SHARE CAPITAL

  There is no specific minimum capital requirement. The standard authorized share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share of par value. Issued shares must be fully paid. Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted.

  DIRECTORS AND COMPANY SECRETARY

  Belize IBC requires a minimum of one director and corporate directors are permitted. Details of the directors do not appear on the public file. There is no requirement to have resident directors.

  REGISTERED OFFICE

  Belizean companies must maintain a registered office and registered agent within Belize who may be a corporate body or an individual resident of Belize.

  MEETINGS

  The meetings of the directors and the shareholders need not be held in Belize; also there is no requirement for an Annual General Meeting. All meetings may be held outside Belize, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy, if stated in the Memorandum and Articles of Association.

  INCORPORATION TIME

  Usually it is 1 working day, but we need up to 10 working days for legalization of the documents and delivery by courier.

  RECURRING MAINTENANCE FEES

  As from the second year, there are recurring maintenance fees of $1,100. These include:

  • Provision of registered office and agent
  • Payment of annual government fee
  • Declaration form for accounting records
  • Annual Compliance fee
  • Annual disbursement in relation to photocopying, printing.

  Please Note:Payment of the government license fees and provision of the registered office and agent must be renewed by December 31, irrespective of the date of incorporation.

• Taxation

  TAXATION

  As of 1st of January 2020, all Belize International Business Companies are subject to a business tax at a rate starting from 1.75% which applies to regular trade or business, chargeable on the gross income of the company. The rates vary according to the company activities and are outlined in Schedule 9 of the Principal Act (IBTA). For a Belize IBC to qualify for any business tax exemption, it must provide supporting documents to demonstrate its tax residency in another country.

  AUDIT AND ACCOUNTING

  All Belize IBC’s must prepare financial statements to file their annual tax return by end of March following the end of the financial year. Certain Belize IBC’s may be required to file audited financial statements while all Belize IBC’s are required to keep financial statements as well as financial records, which should reflect the financial position of the company.

• Our Services and Requirements

  OUR SERVICES INCLUDE:

  • Name check and approval
  • Filling of incorporation documents with the IBC Registry
  • A standard set of original corporate documents
  • Payment of the government fees (renewed by December 31 irrespective of the date of incorporation)
  • Provision of registered address and registered agent for one year (renewed by December 31 irrespective of the date of incorporation)
  • TIN Application
  • Rubber stamp

  Please note: If applying for a corporate bank account you will need to order a full set of apostilled company documents when the account is opened outside of Belize.

  DOCUMENTS REQUIRED:

  Please provide the following documents for all directors, shareholders, beneficial owners, and authorised signatories:

  • Notarized copy of valid passport.
  • Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within three months).
  • Original or certified copy of Banker’s reference letter (dated within three months).
  • In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and certificate of good standing (for companies registered more than one year).

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, New Company will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.