Open a company in Belize

Belize is generally accepted as a vibrant hub for offshore businesses looking to carry out international transactions through its banking centers, financial institutions, and memberships with more than 100 different international organizations.

Belize follows General English law and is the only country in South and Central America to have English as its official language. Its government actively supports the growth of offshore business and ensures that Belizean policies and regulations are in accordance with the interests and requirements of the worldwide financial community.

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1.1 Attractive tax regime

Unquestionably, one of the primary reasons that draw businesses to Belize is its tax regime. According to the 1990 legislation and the modifications of 2000, all local taxes are waived by default for a Belize International Business Company (IBC). Capital gains tax, stamp duty, dividend, and income taxes are among the taxes for which exclusion applies. The owners of these firms are also exempt from paying taxes on the transfer of all forms of assets, whether corporate or financial. This is why, for example, Belize is classified as a tax shelter state

1.2 High privacy for Belize company’s operations

Belize has high regard for individual and corporate privacy. As such, firm owners and board members are not required to reveal their identities. Information about the business’s directors and shareholders is not made public. It is only known to a registered agent, who is prohibited from disclosing it to anybody without express authorization of the firm owner. All internal corporate records (directors’ and members’ lists, corporate protocols, and decisions) are also kept confidential by a registered agent.

Furthermore, business owners have the right not to release information such as earnings, losses, and large financial transactions. This is an advantage that draws worldwide investment.

1.3 More flexibility in corporate structures

The International Business Company (IBC) provides a high amount of flexibility in its organizational form. Being adaptable allows companies to successfully handle varied demands and changes, whether it is a one-person operation or a complex multiple-shareholder system.

1.4 More security with Belize’s asset safeguarding

Belize Trusts are governed by the Trusts Act. Belize’s trust laws are now among the most powerful and adaptive asset protection trust regulations in the world. A Belize asset protection trust is commonly used in connection with an IBC. The use of a trust to hold shares in the IBC provides the owner with an additional degree of legal security.

A trust established under Belize trust rules cannot be amended or annulled by a foreign court, according to the Belize Trust Act. The trust’s legality shall be preserved in the face of any such situations involving marriage or divorce, compelled heirship, or creditor claims in the event of bankruptcy or insolvency.

1.5 No obligation to prepare or file financial statements

Belize Company is not required to compile or file financial statements. Records that are adequate to illustrate and explain the company’s transactions, on the other hand, must be scrupulously preserved. These records will provide the organization with a complete understanding of its financial status at all times. There is no requirement for such documents to be kept in the BVI; the owner is free to choose where the data should be kept.

In Belize, both the International Business Company (IBC) and the Limited Liability Company (LLC) can be established. The IBC Law was enacted in 1990 and quickly drew attention due to its thoughtfulness and commercial emphasis. With the changes in 2000, Belize’s Law on International Companies is regarded as one of the friendliest and most intelligible in the area. The LLC Law governing limited liability companies, which are hybrids of partnerships and corporations was just passed in 2012.

Both forms of corporations are actively utilized for holdings, trading or other business, Internet services, and, of course, asset protection. The identities of the Belize offshore formation limited’s owners and directors are kept private. Data about their commercial activity is also inaccessible to third parties.

In order to form an offshore business in Belize, you must collect documentation from all of the firm’s directors and shareholders, including:

• Documents from individuals:
  • a copy of the passport;
  • a copy of a document verifying residency.
• Documents from legal entities:
  • a copy of the Certificate of Incorporation;
  • copies of incorporation documents (Articles of Association and Memorandum of Association).

Depending on the business structure and sector, there might be other requirements. Rest assured that Global Link Incorporation will review your documents carefully before submitting them to make sure you can successfully open a company in Belize. Besides, companies must get a tax-exempt certificate in order to fully take advantage of Belize tax rules. Global Link Incorporation’s professionals will provide more information and help you to obtain this certificate when it is due.

With years of experience in supporting many clients from different industries, Global Link Incorporation has developed a lean process to support foreigners to open a company in Belize:

1. Select the business structure: Most of the time, our clients choose to open an IBC in Belize. Share with us your goals and plan! We will help you to select the right business structure.
2. Choose the business sectors: In Belize, all lawful commercial activities are authorized. If you wish to engage in certain sectors such as banking, insurance, or reinsurance, you must have a license.
3. Register a legal address: Once you have determined the business structure and the scope of your business, you will need to locate an office in Belize and register your company’s legal address (your operating offices might be anywhere in the world). Global Link Incorporation will support you to register this legal address.
4. Create and register a company name: Company names must meet the following requirements:

• • The company name must be unique;
  • It must not include any disrespectful or obscene language;
  • It cannot imply that the firm is supported by the Belizean government;
  • Words like Royal, Imperial, and others are not permitted in the name.

5. Submit the documents required for business registration: Global Link Incorporation will help you prepare all required documents and review them before submitting them to the Belize regulatory authority.