Available Jurisdictions


Belize

Company Registration: The Belize IBC

Belize Law is based on Common Law and the governing law for Belize entities is the International Business Companies Act of 1990.The information below relates to company registration and the information & documentation that must be provided to our Law Firm by the client in order to register a Belize IBC:

Company name

A company name that can be a non-English name and must contain one of the following endings: Limited, Ltd, Corporation, Incorporated, Société Anonyme.

 

Directors, Shareholders, Secretary & Registered Office

A scanned copy of the passport for the directors and beneficiary shareholders.

 

A scanned copy of a recent (not older than 3 months) utility bill, i.e. electricity bill, being proof of residence of the beneficiary shareholder.

 

The Belize IBC can be registered with one director who can be an individual or corporate entity that does not need to be an individual resident or a Belize registered entity.

 

The Belize IBC can be registered with one shareholder which can be an individual or corporate entity that does not need to be a Belize registered entity. In the event it is a corporate entity, the client must provide copies of all relevant corporate documents together with scanned passport copy and relevant utility bill of the beneficiary shareholder standing behind the corporate entity.

The Belize IBC can be incorporated with 100% foreign ownership.

 

The director and shareholder of the Belize IBC may be the same person.

 

The Belize IBC does not require shareholders and directors meetings, if any, they can take place anywhere.

 

The Belize IBC can be registered with nominee directors and/or shareholders for confidentiality provided relevant Nominee Agreements & Deed of Indemnity are signed in favor of our Law Firm.

 

The Belize IBC must be registered with a registered office in Belize that is provided with company registration.

 

The Belize IBC can be registered without a secretary.

 

The Belize IBC can be subject to re-domiciliation.

 

Activity

The Belize IBC is restricted from doing business with Belize residents or Belize Corporations, cannot engage in banking or insurance or re-insurance or provide registered addresses for offshore businesses or own real estate in Belize except lease property for office purpose. 

 

A license is required by International Business Companies conducting or intending to conduct gaming from within Belize; no business can be conducted with residents of Belize. Belize has signed a Statutory Instrument which adjusted the Online Gaming regime to make processing and monitoring more efficient while reducing the normal fees associated with licenses in Belize to USD15, 000.

The Belize Computer Wagering Licensing Board vets all applications for licenses to provide computer wagering/gambling services and, with the prior approval of the Minister of Home Affairs (Minister), can grant exclusive licenses. They are also responsible for the control and regulation of all persons who provide computer wagering services.

 

Share Capital

The Share capital issued is of minimum one share and must be fully paid.

 

The standard authorized share capital is US$ 50, 000.

 

Bearer Shares may be issued; they are transferable by delivery to add to the confidentiality and may be issued in any currency.

 

Shares may be paid up through the transfer.

 

 

Confidentiality

The Belize IBC can be registered with nominee directors and/or shareholders for confidentiality.

 

The names of the beneficial owners, the directors and the shareholders are not publicly accessible.

 

Time schedule & delivery

Incorporation time for an offshore Belize IBC is approximately 3 to 5 working days and up to 5 working days for the courier delivery.

The corporate documents of the Belize IBC will be sent via express courier (DHL) to the client together with the relevant invoice. Banking documents and Nominee Agreements & Deed of Indemnity to be signed and returned to our Law Firm will be added to the courier in the event the client has requested the opening of a bank account and nominee directors and/or shareholders for confidentiality.

Available ready-made shelf Companies

The firm provides available Belize ready-made shelf companies for clients who wish to minimize registration delays. Below is the list of available Belize ready-made shelf companies at the present moment:

  • Zafaro Ltd, 23/10/2015
  • Pimeno Overseas Inc 11/5/2106
  • Morati Ltd, 11/5/2016
  • Skotra Ltd 11/5/2106

Taxation,No Reports, DTTs & Mutual Assistance Treaties

Article 5 of the Belize IBC Act includes regulations that prohibit carrying out business with persons resident in Belize, owning any real estate, undertaking banking or insurance services or providing registered office facilities for other IBC’s. Further to these limitations, the Belize IBC is a tax free offshore company evolving in a legal framework designed to ensure the highest degree of privacy and asset protection.

 

Below is an overview of the taxation and accounting regulations in Belize

 

There is no Corporation Tax for the Belize IBC according to the 1990 IBC Act.

 

There is no tax on dividends paid by the Belize IBC to a non-resident.

 

There is no tax on interest, rent, royalties, compensations and other amounts paid to a non-resident of Belize.

 

There is no tax on capital gains in respect to shares, debt obligations or other securities of a company incorporated under the Belize IBC Act by persons who are non-resident.

 

There is no stamp duty on transactions.

 

There is an annual government license fee of about US$100 must that be paid by all Belize IBC’s in order to operate, which is included in the annual fees of our Law Firm.

 

 

No Annual Reporting Requirements 

There an obligation to prepare accounts but no obligation to file accounts to the authorities.

There is no obligation to submit audited accounts to the authorities.

There are no publicly accessible accounts.

There is no obligation to submit annual returns.

 

 

Double Taxation Treaties & Assistance Treaties

Belize has a Double Taxation Treaty with the UK, Sweden, Denmark and the countries of the Caribbean Community (CARICOM). Furthermore, Belize has agreed to sign a Legal Assistance Treaty with the US. It will share any information if it protects against money laundering and in order to combat international terrorism and the drug trade. Belize carries out due diligence through the KYC Process.

 

Tax-Planning & Business environment

The ultimate choice of the Belize jurisdiction for a company will be dependent on the following factors:

 

Among the many uses of Belize IBCs are:

To act simultaneously as a holding company and ultimate beneficiary owner;

To hold title to real estate in jurisdictions other than Belize;

To collect commissions, royalties or dividends or to re-invoice trade transactions;

To establish securities trading accounts in the United States, Canada and Europe, either directly or through Belizean intermediaries;

 

There is no Corporation Tax for the Belize IBC according to the 1990 IBC Act.

 

There is no tax on dividends paid by the Belize IBC to a non-resident.

 

There is no tax on interest, rent, royalties, compensations and other amounts paid to a non-resident of Belize.

 

There is no tax on capital gains in respect to shares, debt obligations or other securities of a company incorporated under the Belize IBC Act by persons who are non-resident.

 

There is no stamp duty on transactions.

 

There is an annual government license fee of about US$100 must that be paid by all Belize IBC’s in order to operate, which is included in the annual fees of our Law Firm.

 

The Belize IBC can have one director and one shareholder who can be of any nationality.

 

The Belize IBC allows a 100% foreign ownership of the shareholding.

 

The Belize IBC does not require a company secretary.

 

There is no obligation to submit records or accounts to the authorities.

 

Belize is a low cost offshore jurisdiction compared to other offshore jurisdictions.

 

The Belize IBC can open a bank account in Belize without directors being present.

 

The Belize IBC is not subject to exchange control regulations.

 

The Belize IBC benefits from the legislation allowing for the establishment of online wagering/gambling. Its Computer Wagering Licensing Act, 1995, which came into force on May 28, 1996, provides for the proper conduct and regulation of gambling via the Internet and for the licensing of computer services operators who provide Computer Internet users with the facility to wager against each other on sporting events or other games of chance.

Other regulatory requirements include the maintenance of a separate bank account for processing wager transactions. Licensees may charge a processing fee not exceeding 5% of each transaction, or the sum of US $20, whichever is greater.

There is a 15% withholding tax on payments of winnings or prizes made by holders of computer wagering licenses.

Belize is one of the most secure and most confidential offshore jurisdictions when it comes to disclosing banking or fiscal information or beneficiary identity to any foreign party as confidentiality is well established in its business and corporate legislation.

 

The Belize IBC does not provide public access to the identity of its beneficiary shareholders or directors.

 

Incorporation time for an offshore Belize IBC is approximately 5 working days plus courier delivery.

 

 

Business environment

The 1990 Belize IBC Act which is the governing law of the Belize International Business Company (IBC) provides a modern offshore legal framework for business throughout the world making the Belize IBC a flexible corporate vehicle for international financial transactions that can be used for investments, channeling dividends or confidentiality. The main advantages for tax-planning with a Belize IBC are the following:

 

Belize is an independent country within the Commonwealth bordered by Mexico, the Caribbean and Guatemala to the east and south. It is 24,000 sq km in size, with a population of 300,000, with English as the official language and currency the Belizean dollar, fixed at BZ$2 = US$1.

 

The International Airport is 2 hours’ flying time (daily flights) from Miami, New Orleans or Houston.

 

Belize has reliable shipping and air cargo services to and from Europe, United States of America, Central America and the Caribbean.

 

Belize has few regulatory restrictions and minimum of red tape.

 

Belize’s BTL provides internet and telephone communication between Belize and the United States and Canada.

 

Belize has preferential market access for many products to Europe, Canada, USA and the Caribbean: Europe under LOME IV, CANADA under CARIBCAN USA under CBI II

Caribbean under CARICOM

 

Belize is less sophisticated than jurisdictions such as Cayman Islands in terms of the availability of offshore financial products and in-country support professionals; however, it has a variety of offshore schemes, including IBC legislation, a modern trusts law, and an array of free zones and investment incentive schemes.