Belize Offshore Company
Belize, formerly British Honduras, became a British Colony in 1862 and gained independence in 1981. Belize is an exporter of agricultural produce and tourism is a major industry. The finance sector is expanding.
Belize is a parliamentary democracy where the major commercial centre is Belize City. The administrative capital is Belmopan. Executive Authority is exercised by the Prime Minister and Cabinet.
The International Business Company Act of 1990 enabled the formation of the offshore business company, which is used by non-residents for their international trading and investment purposes. It must generally conduct its activities outside of Belize although a limited number of onshore activities are permitted. Other forms of company are the Limited Life Company, introduced by the Limited Life Companies Act 1999 and the protected cell company. Belize has several double tax treaties including UK, Sweden, Denmark as well as several countries of the Caribbean Community. Belizean IBC’s are specifically exempted from any form of income tax, capital gains tax or transaction tax. They can conduct business in any foreign currency free from Belizean government regulation or restriction. Whilst Belize is on the OECD grey list as a tax haven they have made substantial progress which has been noted by the OECD and are nearing being moved off this to the white list. Belize has a modern computerized registry and is capable of incorporating a company within one hour.
Belize offshore company regulations |
|
| Type of entity | IBC |
| Type of law | Common |
| Corporate taxation | Nil |
| Double taxation treaties available | No |
| Share Capital | |
| Usual currency | U.S.$ |
| Permitted currencies | Any |
| Minimum paid up | Usually $1 but no par value and bearer shares allowed |
| Usual authorised | $50,000 |
| Directors | |
| Minimum number | 1 |
| Local resident required | No |
| Records publicly available | No |
| Corporate Director allowed | Yes |
| Shareholders / Members | |
| Minimum number | 1 |
| Records publicly available | No |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local or qualified | N/A |
| Accounts | |
| Required | Yes |
| Audit required | No |
| Filing required | No |
| Publicly available | No |
| Other | |
| Annual return required | No |
| Change of domicile permitted | Yes |
| Shelf company available | No |
| Time to incorporate shelf co | N/A |
| Time to incorporate new co | 1-3 working days |
