Company Formation Belize
Updated on Monday 23rd April 2018
Rate this article 1 reviewsbased on
Offshore Company Formation in Belize
In Belize, the increasing proportion of national income is generated by the offshore finance industry. There are many reasons for a foreign investor to set up an offshore company in Belize:
- 0% corporate taX
- No dividend tax
- High degree of confidentiality
- Free from reporting requirements
Many offshore Belize companies are used as holding companies in order to minimize tax.
Steps for company formation in Belize
The most common type of company for international holding, investment and trade is the International Business Company (IBC).
The first step for starting a company in Belize is to provide three company names as per client’s choice. The names submitted will be checked by the Belize Authorities and availability thereof will be confirmed in the shortest of time.
Every foreign investor should be informed that the incorporation of a Belize company is a very straightforward procedure, provided that the following conditions are met:
1. The client provides a series of identification documents, among which we mention: passport copies of the shareholders and directors and utility bills showing the address of the clients.
2. The name of a company limited by shares incorporated in Belize must be unique must not resemble with the name of an existing company. The termination LTD or a series of similar ones must be added to the name.
3. The registration office has to be in Belize at the address of a licensed management company.
4. A limited liability company established in Belize is based on the Memorandum of Association which must contain the name and the address of the company, details regarding the authorized capital, details regarding the shares, the purpose of opening such a company and the fact that it’s a limited liability company. Also each member must state the number of owned shares (not less than one).
5. As a result of depositing the Memorandum of Association and the Articles of Association to the Belize Companies Registrar, the company receives a unique registration number and a certificate of registration.
The offshore registration of a company in Belize days takes approximately 3 days since the moment we have received all the necessary documents.
The shareholders can select the amount of the share capital, but this amount doesn’t have to be deposited.
There are no limitations in regards to the nationality of the shareholders and directors. Belize’s law offers the possibility of nominee shareholders and directors (service provided by BridgeWest).
Requirements for offshore company formation in Belize
- The minimum number of shareholders or directors is one;
- The shareholders of a company established in Belize can be either natural persons or legal entities;
- Any person of any nationality or residence can be director or shareholder in a Belize company;
- It’s mandatory for a company limited by shares to have a registered office in Belize before starting the commercial activities (service provided by BridgeWest)
Services provided for Belize company incorporation
- drafting the Articles of Association (necessary for the company incorporation in Belize); The Articles of Association of the Belize company can be signed through Power of Attorney.
- drafting all other documents required for the incorporation of the Belize company; these documents include: Specimen Signatures, Special Forms provided by the Company Registration Office in Belize, passport copies etc.
- offering a Registered Office in Belize for your company; the registered office may be any address where the Belize company declares to have its headquarters. The registered office can be a P.O Box.
- setting up a bank account for your Belize company.
Belize key facts
- Belize is an independent country located in Central America, ethnically diverse and with an environment popular for its beauty.
- Belize is considered by many a tax heaven for the local entrepreneurs, encouraged by the fiscal policy to develop businesses.
- A Belize International Business Company cannot undertake the business of banking, insurance, assurance or reinsurance.
- A Belize International Business Company can be incorporated using any language, while the language of the legislation and corporate documents has to be English.
- The normal authorized share capital is US$ 50,000 divided in to shares with or without par value and it can be expressed in any currency.
- The legislation that regulates the income taxes for companies incorporated in Belize is the “The Income and Business Tax Act”. Their local laws are based on the English Company Law.
- An IBC doesn’t have to pay any tax on its world-wide profits to Belize authorities.
Bridgewest provides company formation services in Belize. Please contact us for more information and prices.