Formerly the colony of British Honduras, is the only country in Central America without a coastline on the Pacific Ocean (only the Caribbean Sea to its east), and the only one in the region with English as its official language. The country is located between Guatemala to the west and south and Mexico to the north. With a long Caribbean coast, Belize is a culturally diverse and mixed race country with one foot in Latin America and the other in the Caribbean.
Main benefits of a Belize IBC:
- Zero corporate tax
Company shareholders are not subject to taxation on any dividends they receive. You will have total freedom from all taxes and fees associated with running the company – including transfers of property, share dealing and other activities.
So that the offshore sector does not undermine the domestic economy, there are several requirements companies must meet:
- The company has no right to conduct business with residents of Belize (physical or legal persons).
- The company cannot own shares in firms which are tax resident in Belize.
- The company may not engage in licensed activities (banking, insurance, business trusts and foundations, etc.).
- The company cannot own real estate in Belize.
- Guaranteed confidentiality and protection
Information about the beneficiaries, directors and shareholders of an offshore company is not available to the public. Moreover, when opening a new offshore company, this information is not supplied to the Register of Companies. Information about the persons involved in the offshore venture, from beginning to end, is known only to the Registered Agent of the company
- No requirements for payment terms or company capital
The standard authorized capital of a company in Belize is thought to be US$50,000. We recommend you stick to this figure, as it is the minimum amount applicable to company registration and annual fees (US$100).
At the same time, the owner of an offshore company is free to choose any amount of authorized capital at registration. Note, however, that a company whose share capital exceeds US$50,000, pays an increased duty at registration and for the annual renewal of the company. For these companies, the fee increases tenfold (US$1,000). If using shares without par value, this fee will be US$350.
Regarding the timing of the payment of authorized capital, Belize uses guidelines which are approved in the offshore industry. The law does not specify the exact timeframe during which the share capital needs to be paid, and does not indicate the amount of the payment to be made. In other words, your company can start working, deferring payment of capital for an indefinite period – or paying only a small part of it. The capital structure of a Belizean offshore company is a flexible and trouble-free tool that easily fits into the specific conditions of the business environment.
- No requirement to file financial statements
Belize offshore companies are free from obligations to submit financial statements to the tax authorities and to keep accounts. In the case of records being kept, the law does not regulate the storage of documentation or limit its size – the accounting format and storage of documents are at the discretion of the owner of the company.