OUR OFFICES: LONDON, UK Office | +44 20 3769 1690  –  CORK CITY, Ireland Office | +353 21 202 8069  –  Contact Monday to Friday: 9 am to 6 pm GMT time  –  Skype: CALL | CHAT

OUR OFFICES:
LONDON, UK Office | +44 20 3769 1690
CORK CITY, Ireland Office | +353 21 202 8069
Contact Monday to Friday: 9 am to 6 pm GMT time 
Skype: CALL | CHAT

SET UP YOUR BUSINESS IN
BELIZE

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Investors & Entrepreneurs
Setting up their Business overseas

Eurofinanzza Tax Legal Law Center
Corporate Tax & Legal Consultors
Since 1998

Belize IBC
International Business Company

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.

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.

International Business Corporation (IBC)
The Companies Act of 1990 is law based in modern legislation which provides IBC Companies with extended privileges and guarantees absolute confidentiality. The Act was patterned after the best features of legislation adopted in other “Offshore” jurisdictions.

A Belize IBC incorporated in Belize must have a registered office and agent in Belize. An IBC may not actively engage in business or trade in Belize. It can maintain a staff and facilities and conduct business incidental to its existence.

The features of the IBC make it an excellent vehicle. It is designed for international flow of capital, tax planning, real estate holdings, international financing, asset protection and investment.

Key Corporate Features

General
Type of Company – IBC
Type of Law – Common
Shelf company availability – Yes
Time to establish a new company – 1 day
Minimum government fees (excluding taxation) – US$200
Corporate Taxation – Nil
Double Taxation Treaty Access – No

Share Capital or Equivalent
Standard currency – US$
Permitted currencies – Any
Minimum paid up – No minimum required
Usual authorized – US$50,000

Directors
Minimum number – One
Local required – No

Corporate Directors Permitted – Yes
Publicly accessible records – No
Location of meetings – Anywhere

Shareholders
Minimum number – One
Publicly accessible records – No
Location of meetings – Anywhere

Company Secretary
Required – Optional
Local or qualified – No

Accounts
Requirements to prepare – Yes
Audit requirements – No
Requirements to file accounts – No
Publicly accessible accounts – No

Other
Requirement to file annual return – No
Change in domicile permitted – Yes

Compliance

Authorized Shared Capital
The normal authorized share capital is US$ 50,000 divided in to shares with or without par value. 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.
Classes of Shares Permitted
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.
Bearer Shares Permitted
Belize has amended its International Business Companies Act. These changes were to maintain its financial services industry in the increasingly regulated international market & meet the OECD white list requirements.

The Belize IBC Amendment Act 2017 includes the abolition of Bearer Shares.

This amendment establishes the prohibition of the issuance and transferal of bearer shares. Going forward, any company that has bearer shares issued will have to be converted into registered shares and cancel all bearer share certificates. Any bearer shares which have not been converted or cancelled within the period will be cancelled.

Taxation
An International Business Company does not pay any tax on its world-wide profits to Belize authorities.
Double Taxation Agreement
Belize has double tax treaties with the United Kingdom, Sweden, Denmark and the countries of the Caribbean Community (CARICOM).

In 2010, aiming to be removed from the OECD grey list, Belize signed tax information exchange agreements (TIEAs) with the United Kingdom, Australia, the Netherlands, Ireland, France, Finland, Norway, Sweden, Iceland, Greenland, Denmark, the Faroe Islands and Portugal. Since then, Belize has signed TIEAs with Mexico (2011) and Poland (2013).

Government License Fee
We would like to draw your close attention to amendment on section 114 of the Act, (point 3 of the notice attached) the license fee for all Belize IBCs with authorised capital not exceeding US$50,000 and with par value will be increased from US$100 to US$200 with effect from 1 April 2016.
Financial Statement Requirements
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.

Following the weaknesses identified by the OECD in relation to the regulatory framework of certain offshore jurisdictions, the relevant amendments were introduced in the legislations of Belize, BVI and the Seychelles whereby proper accounting records must be kept for all companies registered in this jurisdiction.

As per the Accounting Records (Maintenance) Act No. 18 of 2013, all Belize Companies to keep accounting/ transaction records for a period of at least five (5) years. There is no requirement of submission of such records to any Belize authority but upon request such records must be available at all times.

Based on the location where the accounting records of each company are held, such company shall provide to its “Registered Agent” a written record of the physical address of the location and notify of any change on the location of the records and underlying documentation within fourteen (14) days from the change.

Any Belize Company that fails to comply with these requirements will be liable to be struck off from the registry and/or a fine not exceeding US$10,000. In addition, the certificate of incorporation or the license of such entity may be revoked by the relevant authority.

Directors
The minimum number of directors is one. Directors may be natural persons or bodies corporate. They can be of any nationality and need not be Belize resident.
Directors’ names are not required to be filed with Belizean registrar of Companies.
Company Secretary
A company secretary is not a requirement under the Act, but a secretary is normally appointed to facilitate signing obligations.
Shareholders
The minimum number of shareholders is one.
Shareholder’ names are not required to be filed with Belizean registrar of Companies.

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