Our company formation experts in Belize can help you open a company here and better understand the requirements for this to happen.
| Quick Facts | |
|---|---|
| Types of companies | Private company; International Business Company (IBC); Limited life company; Public investment company; Joint venture and cooperative; Limited liability partnership. |
| Minimum share capital | No minimum |
| Standard authorised share capital | USD 50,000 |
| Minimum number of shareholders | 1 |
| Minimum number of directors | 1 |
| Company can have corporate directors/shareholders | Yes, possible |
| Local director required | No |
| Nationality restrictions | Not applicable |
| Nominee use | Company shared can be held by a nominee on behalf of the beneficial owner(s). |
| Company name requirements | Restrictions on certain words, cannot be the same as the name of an already registered company. |
| Annual meeting must be held in Belize | No, any location can be used |
| Company incorporation documents | For natural persons: Certified passport copy; Proof of address; Bank reference letter; Signed CV; Proof of funds |
| Special requirements for documents | Must be certified (and translated into English, when needed). |
| Time frame for incorporation | Approximately 2 weeks |
| Company incorporation costs in Belize | USD 2,500 (not including government fees) |
What types of companies can I incorporate in Belize?
The following legal structures are available:
- Private company;
- International Business Company (IBC);
- Limited life company;
- Public investment company;
- Joint venture and cooperative;
- Limited liability partnership.
Why is the IBC a popular business form?
The following advantages are worth noting:
- No taxes;
- There are no nationality restrictions for investors; entrepreneurs from any country worldwide can open an International Business Company in Belize;
- The founders can use company names in foreign languages;
- Non-residents can act as directors (see below for details);
- The company is subject to low registration and annual fees;
- The incorporation is prompt and efficient, as overseen by the IBC Registry Office.
What steps must I follow to open a company in Belize?
The process can be divided into seven main steps, as listed below by our team:
- Receive the name proposals from the client and check their availability for use;
- Reserve the chosen company name;
- Perform due diligence (this stage also includes a customer verification process known as “know your customer” or KYC);
- Fill in the company incorporation application form;
- File the incorporation documents (if the payment is confirmed);
- Receive the corporate documents;
- Handle the required post-incorporation documents, such as opening a corporate bank account in Belize.
What documents are required for company formation in Belize?
The list of documents required when the founder/director/beneficial owner is a natural person includes:
- Certified passport copy;
- Address (proof thereof no older than 3 months);
- Bank reference letter (also no older than 3 months);
- The signed CV;
- Statement concerning the source of the funds used for company creation.
When the founder of the business is another company (corporate shareholder), the following are required:
- The legal entity’s certificate of incorporation (issued by the foreign trade register in the country in which it is registered);
- The company’s memorandum and articles of association;
- A list of directors and shareholders, along with the authorized signatories
- The company’s certificate of good standing;
- Other documents, as may be required, to perform the due diligence/know your client verification.
The documents listed above for natural persons/corporations are to be certified by a notary public (or lawyer/accountants as may be the case). Translations into English are to be provided when the original documents are not issued in English. Our team can give you more details.
What are the mandatory conditions for company creation in Belize?
Several key aspects are in place in terms of the company’s registered office, shareholding and corporate management structure requirements. We list these below:
- The company must have a registered office address based in Belize (official documents will be sent to this address);
- Only one shareholder and one director are required;
- The company is not required to have a resident director and/or shareholder;
- There is no public access to the details of the shareholders and directors;
- There is no requirement to schedule the company director’s meetings in Belize, these can take place in any location.
Companies are subject to the Economic Substance Act. An exemption is the IBC controlled or managed outside of Belize, and which does not have the tax resident status.
Belize IBCs that are not subject to the Economic Substance Act exemption are required to:
- Have employees in Belize.
- Maintain a substantial economic presence in the country and engage in Core Income Generating Activities (CIGA);
- Have an amount of annual operating expenditure in Belize;
- Maintain a physical office (one or more);
We invite you to watch the following video about the creation of an offshore company in Belize:
What is the estimated incorporation time?
You can expect approximately 2 weeks, provided that all the documents are provided in the requested form. The submission of incomplete or incorrect documents is one of the foremost causes of delay in company registration matters.
How much does it cost to open a company in Belize?
Our team can help you open a Belize company for a fee starting from $2,500 (excluding government fees).
The standard authorized share capital for the company is USD 50,000 (and the share capital can be expressed in any currency).
Please keep in mind that incorporation packages can be tailored to meet specific requirements.
What rules must I follow for taxation and reporting?
Belize IBCs that engage in economic activities within Belize are subject to the income tax and stamp duty and must file income tax returns.
There is no requirement for account filing; however, companies are expected to keep accurate accounting records.
You can contact us if you need professional and efficient assistance in order to open an offshore company in Belize.