1) About Belize:
Belize, formerly a British Colony, gained its independence in 1981 and is the only country in Central America having English as its official language. Nestled in the Yucatan peninsula, Belize is merely 200 miles south of Cancun, Mexico and less than 100 miles east of the Tikal Ruins of Guatemala. Belize is an independent country that has enjoyed a history of peace and tranquility, and is a proud member of the British Commonwealth, the United Nations, the Non-Aligned Movement, the Caribbean Community (CARICOM) and the Caribbean Financial Action Task Force (CFATF).
2.IBC in Belize
MAJOR ADVANTAGES OF BELIZE IBC:
- Exempt from all local taxes
- Inexpensive annual support
- No requirements of a minimum paid up capital
- Information about corporate directors, officers, shareholders and beneficial owners is not filed with the Belize Registry and not available to the public
- Any individual and legal entity may become a shareholder, director and officer
- No foreign exchange control.
- Confusingly similar to a name of the already existing Belize company
- Contains the words “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Municipal”, “Royal”, “Assurance”, “Bank”, “Insurance” or “Trust”
- Suggests a patronage of the Queen or a member of the Royal Family
- Indecent, offensive or objectionable.
International Business Company (IBC) is incorporated under the Belize International Business Company Act adopted in 1990.
This Act absorbed and further developed the best provisions of BVI offshore corporate legislation. It is considered as one of the most friendly business legislation in the offshore-financial sector.
The word "Limited", "Corporation", "Incorporated", "Society Anonyme" or "Sociedad Anonima" or “Aktiengesellschaft” or the abbreviation "Ltd", "Corp", "Inc" or "S.A." or "A.S." or "A.G." must be part of the name of every Belize offshore IBC.
A suggested corporate name is not acceptable in the following cases:
OFFICE ADDRESS AND LOCAL AGENT
Registered office address must be located in Belize. Principal office address (business address) may be in any country.
Each company has to have a local registered agent authorized by the Belize government.
Our fee includes Belize registered office address and registered agent for the first year.
There is no Belize residency requirement. Shares could be issued to any individual or company.
A minimum of one shareholder is required. Just one share for US$1.00 could be issued to that shareholder.
If you need a nominee shareholder, our company provides such services.
DIRECTORS AND OFFICERS
Any individual or legal entity (corporation or LLC), who is a resident of any country may be appointed as a director and officer of Belize offshore company.
One person could hold all positions, such as directors, president, secretary and treasurer. However, if you would like to have several directors in your Belize IBC, there is no problem. We could appoint any number of directors from a minimum of one to a maximum of ten.
If you need a nominee director and officers, our company is able to provide nominees. However, in most cases it's preferable to be appointed as a director of your own Belize company. It simplifies dealing with banks, suppliers and customers and makes the annual renewal fee cheaper.
Authorized capital of US$50,000 divided into 50,000 registered shares of US$1.00 each is considered as the standard authorized capital. Such capital keeps the incorporation and annual cost of Belize offshore company at a minimum level and perfectly fits business needs of 99% of our clients.
Authorized capital of Belize IBC is the amount, which the company may receive from its shareholders in consideration for the issued shares. For example, if a company has an authorized capital of US$50,000 divided into 50,000 registered shares of US$1.00 each, the company is allowed to issue up to 50,000 registered shares and receive from its shareholders not less that US$1 for each issued share.
Belize offshore legislation offers a great level of flexibility. Belize companies could have any fixed amount of authorized capital starting from US$1 or have no authorized capital at all. When a Belize offshore company is incorporated, the authorized capital is stated in the Memorandum and Articles of Association.
Belize IBC is not obliged to issue all its shares for the total amount of authorized capital in any mandatory time frames. The company could issue just one share for US$1.00 to a single shareholder and remaining shares or any part of them could be issued any time in the future. All issued shares must be paid up by shareholders.
Authorized capital affects the government incorporation fee and annual fee.
The lowest incorporation and annual government fee of US$100 is applicable, when IBC has authorized capital up to US$50,000.
The highest incorporation and annual government fee of US$1,000 must be paid, when authorized capital exceeds US$50,000.
If Belize IBC has no authorized capital and all its shares have no par value, the government fee is US$350.
Belize IBC is exempt from all local taxes including income tax, capital gain tax, dividend tax, and stamp duty on transfer of corporate shares, and other property.
Each Belize IBC must pay the annual renewal fee starting from the second year..
Information about all persons connected to Belize IBC is completely private.
The Memorandum and Articles of Association is the only document filed with the Belize Registrar. This document does not include any information about corporate directors, officers, shareholders and beneficial owners. It lists only name of the Belize registered agent and Belize registered office address.
Our company offers Nominee services, as an extra layer of privacy protection.
ACCOUNTING AND AUDIT REQUIREMENTS
There are no statutory requirements of audit for Belize international business companies.
In October 2013 Belize enacted the Accounting Records (Maintenance) Act. According to the Act all international business companies are required to maintain accounting records and keep them in any place within or outside of Belize as may be determined by the Board of directors.
There is no requirement to file tax returns with the Belize tax authority or any other Belize government organization. As a result, your Belize company will get a great advantage - on one side the requirement to keep accounting records creates onshore image for the company, but on other side the company is not required to file tax returns and pay taxes in Belize, which in fact preserves its offshore essentual nature.
ANNUAL GENERAL MEETING
Annual meetings are not required. Board of directors may decide to conduct an annual meeting of shareholders in any place inside and outside of Belize.
TIME REQUIRED FOR INCORPORATION
We incorporate all Belize offshore companies the same or next business day.
Additional 2 to 4 business days are required for preparation of resolutions, share certificates, registers and legalization of corporate documents with Apostille.