Local and foreign investors who wish to open a recruitment company in Belize will follow the general steps for company formation, followed by engaging in sector-specific services designed to assist companies with the recruitment process.
Company formation in Belize is a multi-step process that can be aided by our local team of agents. Recruitment companies are not subject to special licensing and control, however, the recruitment process and the conclusion of employment agreements with the said agency must take place according to the Belizean Labour Act.
This article summarizes the main steps needed to set up a recruitment company in Belize. For more information, as well as assistance during registration, please do not hesitate to ask our team more questions.
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Belize recruitment company formation
An employment agency in Belize can be incorporated by local and foreign investors and it will offer services such as interviewing and evaluating talent, matching candidates with companies, facilitating interviews, handling employment contracts, offering onboarding solutions, and others.
To open a recruitment company in Belize investors will follow the general steps below:
- Choose a business form: this can be the International Business Company (IBC) for offshore activities or the corporation (for recruitment services provided within Belize);
- Select an available company name: the company’s name cannot infringe existing ones; A preliminary check is possible;
- Draw up the documents: these are the Articles of Association, as well as other supporting documents;
- Register the company: this is done with the Belize Companies Registry, once all the documents are prepared.
If you want to open an offshore company in Belize, our team can assist you throughout the registration process.
Business owners interested in knowing more about the Labour Act can reach out to our lawyers in Belize for information.
Doing business in Belize
Apart from the registration requirements, investors should also be mindful of the following costs needed to open a company in Belize:
- The corporation (not the IBC) requires a registration cost of $584.000;
- The aforementioned amount is valid when the share capital is less than or equal to $10,000. In other cases, the registration tax will be calculated at a different value;
- A business tax rate applies in Belize and it has a general rate of 1.75%.
Investors who open a recruitment company in Belize will follow the local rules of reporting and taxation. These can be different for the locally registered corporation, compared to the IBC.
An important advantage of the International Business Company is that it is fully exempted from local taxation. However, it cannot do business with residents in Belize. For investors who open a recruitment company in Belize this means that they will be offering their services for clients located elsewhere.
We suggest getting in touch with our team for complete information about the available business forms and their requirements before you start the set-up process.
If you would like to relocate to the country to start a business you can also rely on our team if you have questions about immigration to Belize, residency in Belize or citizenship in Belize.
Contact our team if you want to know more about the steps needed to open a recruitment company in Belize.