The location of the offshore company can have an impact on the types of businesses that can be run from that location, the need to disclose information about the company as well as the acceptance of various business activities.
There are several differences between Belize in Bermuda in terms of basic requirements for the formation of the company but also in terms of director identity requirements.
Our team of Belize company formation agents highlights the main characteristics of each jurisdiction.
Company formation in Bermuda
Like Belize, Bermuda has an important characteristic that can make it a tax haven: there are no taxes on profits derived from this location. What’s more, Bermuda has a convenient location for most foreign investors, most notably those from the United States: the Island is located just off the coast of North Carolina.
A difference between Bermuda and Belize is the fact that bearer shares are not allowed in Bermuda. In addition to this, the laws in Bermuda impose a higher minimum number of company directors, 2 compared to only one director in Belize.
The video below illustrates the main differences between Belize and Bermuda:
Company formation in Belize
Belize is an offshore destination where the International Business Company has many advantages for foreign investors.
The table below summarizes the main characteristics (and advantages) of the Belize IBC:
|Trait||The Belize IBC|
|Tax||There is no tax on offshore profits, one of the greatest advantages in Belize.|
|Incorporation requirements||Low requirements, with only one shareholder and one company director who can be the same person.|
|Location Requirements||There is no need for the director/shareholder to be residents nor is it mandatory to have a registered agent (but it is recommended).|
|Disclosure||The beneficial owner of the company as well as the directors and shareholders are not disclosed, only the registered agent.|
Belize meets the needs of investors looking for an offshore location with both tax advantages and the protection of their identities.
For more information about how to open an offshore company in Belize, please do not hesitate to contact us.
Our attorneys in Belize can answer relevant questions about the laws and regulations one should be mindful of when interested in offshore company creation in this jurisdiction. We are a team of experts offering complete legal solutions to investors, with a high focus on business and commercial law. Reach out to us if you have questions about legal matters in Belize or if you require legal representation.
Making a substantial investment in Belize can also be the rote to acquiring temporary, then permanent residence. If immigration to Belize is of interest to you, our team can provide the essential details on the residence process, how you can qualify, the documents you will need to submit and the applications you will need to make. Do not hesitate to reach out to us if you have questions about how you can remain in the country lawfully.