An obvious difference between the two jurisdictions lies in their location: the Cayman Islands are located in the western Caribbean Sea, closer to the United States (Miami) while Belize is located in Central America. However, the location is not the only difference. Our team of Belize company registration agents highlights some of the main differences between these two jurisdictions.
The list below is a summary of the main issues to consider when comparing the two jurisdictions:
- Location: from a location point of view the Cayman Islands are more accessible to foreign investors form the United States.
- Taxation: this is a characteristic that is unchanged for both jurisdictions, as there is no corporate income tax for companies.
- Easy incorporation: both locations offer a quick and easy company incorporation process, with minimum requirements for company management.
- Confidentiality: another common characteristic for many offshore jurisdictions; we discuss this trait in more detail below.
Open an offshore company in the Cayman Islands
A difference between the Cayman Islands and Belize in terms of requirements for offshore companies is that in Belize there is no mandatory requirement for the registered agent while in the Cayman is it mandatory to have one. Moreover, when a registered agent is used, the beneficial owner is disclosed to this agent. The shareholders are not disclosed in either jurisdiction.
Another difference between the Cayman Islands and Belize is that the first jurisdiction requires companies to submit an annual return while in Belize this is not a formal and mandatory accounting requirement (although companies are required to keep proper accounting record at their registered office).
For those investors interested in knowing more about the registered agent option, our team of Belize company formation agents can help answer some of the most common questions.
We can also answer any questions that may relate to how you can obtain Belize permanent residency, should you also be interested in this step as well.
Open an offshore company in Belize
Belize shares a number of similarities with the Cayman Islands, but as mentioned above it has lighter requirements for accounting and there is no mandatory need to appoint a registered agent, although this can be recommended for some businesses.
Belize distinguishes itself from other offshore locations through a high degree of investor protection. The beneficial owner is not disclosed and there is also a high degree of bank secrecy.
The Belize company formation process is a quick one that can be handled with the help of our experts. Contact us for more information and investment advice.
When you decide to locate your company in Belize, our team can also help you apply for a long-stay permit, one that is suitable for your purpose of immigration to Belize. Investors, and other foreign nationals who qualify for a minimum annual income, are permitted to remain in the country for medium to long-term purposes. You can find out more about the permits and residence from our team.