Asset Protection
Advantages of Belize Company Formation
- Cost effective corporate solutions
- Fast and easy company formation process
- Tax free regime for Belize LLC
- Strong privacy provisions in Belize
- Possibile to open local bank account
Secrecy score
This score demonstrates how much privacy can be maintained by the company and the rate of disclosure of the corporate information for open public scrutiny. The higher the rate, the more privacy the company can enjoy. All rates are based on the open sources and subjective view of Astra Trust.
91
0
100
Tax Haven Index
This score demonstrates the tax burden applicable to the company and the jurisdiction as a whole. The higher the score, the lower are tax rates, and the easier is regulation. All scores are based on the open sources and subjective view of Astra Trust.
62
0
100
Reputation
This score demonstrates the reputation of the company and jurisdiction in the financial and business circles. The higher the score, the more favourable is the treatment by financial institutions, authorities, and counterparties. All scores are based on the open sources and subjective view of Astra Trust.
Good
Find out more about Belize
Belize is an independent country and a member of the Commonwealth of Nations, CARICOM and SICA. The country is located in Central America on the coast of the Caribbean Sea. It is named after the largest and foremost Belize River and was formerly known as British Honduras.
In the past, Belize was a Spanish and British colony and became independent in 1981. Nowadays, the structure of the government of Belize is based on a constitutional monarchy. The British monarch is formally the head of state, represented locally by the Governor-General. The country is ruled by the National Assembly of Belize. As such, Belize remains a very stable democracy and an attractive centre for finance and tourism.
As a former British colony, this offshore financial centre became extremely popular by offering affordable company formation services. In Belize, the trust companies provide International Business Companies registration and trust formation services. The banks in Belize offer reputable offshore banking services for companies and trusts in all major currencies. Overall, Belize company formation with a bank account is an attractive option for international businesses.
The Following Types of Entities are Available for Belize Offshore Incorporation:
- International Business Company (IBC)
- Limited Liability Company (LLC)
- Limited Partnership (LP)
- Protected Cell Company (PCC)
Why Set Up a Belize Company?
Belize is one of the most popular offshore financial centres in the world. The number of offshore entities incorporated in this jurisdiction is good evidence of that. The up-to-date legislation coupled with competitive government fees and affordable services of local agents has made Belize offshore company formation an extremely popular service.
In Belize offshore company benefits include a zero-tax environment, closed registers, cost-effective offshore services, and well-developed, up-to-date offshore legislation. Furthermore, this type of company offers a high level of confidentiality. It only takes one or two days to incorporate a company in Belize and complete all formalities, including the application for a TIN.
Cost-effectiveness of Belize companies
The fees for Belize company incorporation and renewals are considerably more competitive when compared to jurisdictions such as the Cayman Islands or Guernsey. This accounts for Belize’s popularity for incorporating classic asset-holding LLCs or even international trade companies. A Belize offshore company with a bank account opened in an offshore bank can carry out trading activities or provide services offshore.
Astra Trust can set up an offshore company in Belize in the shortest possible time and provide full assistance in all matters from name reservation, CDD process and provision of nominee services, to opening a bank account.
Companies Incorporated in Belize are Often Used for the Following Purposes:
Tax planning
International trade
Holding Company
Taxation of the Belize Company
| Currency | East Caribbean dollar (XCD) |
| Corporate Income Tax | 0% |
| Withholding Tax | 0% |
| Capital Gains Tax | 0% |
| Inheritance Tax | 0% |
| VAT | 0% |
| Exchange Controls | No |
Taxation in Belize
From a tax perspective, it is understood that Belize is a low-tax jurisdiction. Despite the taxation of local companies, in Belize, some offshore companies and trusts enjoy a zero-tax rate on profits, capital gains and passive income. Income tax, withholding tax, capital gains tax, inheritance tax and business taxes are not applicable to LLCs, trusts and foundations.
Tax legislation amendments
In 2019, Belize changed its legislation after pressure from the OECD and European countries. Following the amendments, a Belize offshore company is not permitted to hold intellectual property. Another amendment is the obligation for an offshore company to apply for a tax identification number (TIN), establish a financial year and file an annual return. Despite the additional compliance requirements, Belize company formation has become even more attractive because of the possibility of obtaining a TIN. Banks very often require a TIN to open a bank account or on a case-by-case basis from existing account holders.
Taxation of business companies in Belize
Currently, the BC companies are subject to taxation in Belize with a nominal tax rate. The LLCs are still released from taxation in Belize as passing-through entities.
No value-added tax or Belize company tax is applicable to a Belize company.
The official currency of Belize is the Belize dollar.
There are no currency exchange controls applicable to offshore entities in Belize.
Corporate Legislation in Belize
The Belizean legal system is largely based on English common law. This provides flexibility for corporate structuring as the jurisdiction has adopted trust law, recognises trusts, and shareholder agreements can be regulated by English law.
In Belize, the offshore formation of a limited company is regulated by the law based on the English Companies Act of 1948 model. Company legislation was also heavily influenced by the old BVI IBC model. The US LLC concept has been further incorporated into the legislation to compete with other offshore centres.
The OECD’s initiative had an extensive impact on company legislation in the recent past. In 2018, the Belizean government implemented all the necessary recommendations to modernise the regulations and ensure that they meet modern standards.
The concept of a trust in Belize was codified by the Trust Act of 1992. For a Belize offshore trust to be regulated by the laws of Belize, it must be established in the trust deed and registered with the FSC. Trust legislation has been modified and designed to protect trust assets from third-party claims. The Fraudulent Conveyance Act has been completely repealed from the legislation applicable to the Belize International Trust. This has made Belize one of the leading jurisdictions for asset protection.
The court of final appeal in Belize is the Caribbean Court of Justice.
The Laws Regulating Belize Offshore Formation And the Financial Industry:
- International Business Companies Act Chapter 270, Revised Edition 2011;
- International Limited Liability Companies Act, 2011;
- Limited Liability Partnership Act Chapter 258, Revised Edition 2011;
- International Financial Services Commission Act, Chapter 272, Revised Edition 2011;
- Economic Substance Act, 2019, Chapter 273.
Process of Belize company registration
Stage 1
Contact us for more information and quotes. We answer within three hours!
Stage 2
Fill in a form, provide us with the required documents and make a payment.
Stage 3
Receive the scanned incorporation documents within two days, and hard copies by courier in up to seven days.
Required Documents To Incorporate In Belize
To incorporate a Belizean company the following KYC documents are required:
- Certified copy of proof of ID for all directors, shareholders and beneficial owners
- Certified proof of address for all directors, shareholders and beneficial owners
- KYC form provided by your personal manager in Astra Trust
For more information click below to receive certification instructions and requirements.
Documents And Services You Receive After Belize Company Formation
The Costs of Company Incorporation Include Services as Follows:
- Company name search in the Register of Companies for availability
- Revision of KYC and CDD documents
- Payment of Government Fees
- Necessary filings to the Registrar of Companies
- Drafting of activation corporate documents on incorporation of the company
- Registered office services for 1 year
- Registered agent services for 1 year
- Compliance Fees
- Full administrative support 24/7 from your personal manager in Astra Trust
The Company Incorporation in Belize Package Includes the Following Company Documents:
- Certificate of Incorporation issued by the Registrar of Companies
- Memorandum of Association stamped by the Registrar of Companies
- Articles of Association stamped by Registrar of Companies
- Resolution of appointment of first directors
- Register of directors
- Register of shareholders
- Minutes of first meeting of directors
- Share Certificate for each shareholder
Need More Help To Setup Your Offshore Company in Belize?
Get in touch with us to receive response to any questions you may have.
Company Name In Belize
Under the International Business Companies Act for offshore company registration in Belize, the name shall end with the following words:
- “Limited”;
- “Corporation”;
- “Incorporated”.
Alternatively, the abbreviations “Ltd.”, “Corp.” or “Inc.” may be used.
The Companies Act of Belize also allows the use of foreign names in the last part of the company’s name instead of the abovementioned words. The following words or their abbreviations may be used:
- “Society Anonyme” or “A.S.”;
- “Aktiengesellschaft” or “A.G.”;
- “Sociedad Anonima” or “S.A.”.
The proposed company name can be checked for availability by Astra Trust within 1-2 working days.
The company name cannot suggest any connection to Her Majesty, the Royal Family, or the Government of Belize. It also cannot be a name that is prohibited by the laws and regulations in Belize.
Board Of Directors And Shareholders Of a Belizean Company
A company incorporated in Belize must have at least one director and one shareholder. There are no restrictions on the residency or nationality of the directors and shareholders. Corporate directors and shareholders may be appointed solely. Alternatively, the company can be controlled by one individual only as a sole director and shareholder.
There is no requirement as to where the board meetings of a Belizean company should take place.
Nominee services are allowed and are widely used for offshore company registration in Belize. Astra Trust can provide nominee services upon incorporation.
Share Capital of Belizean Company and Types of Companies
The companies that can be incorporated in Belize, depending on the share capital, can be structured as follows:
- Company limited by shares
- Company limited by guarantee
- Company limited by shares and guarantee
The standard authorised share capital of the company limited by shares is usually USD 50,000 or in another currency, with a denomination of USD 1 per share.
The issued share capital to shareholders can be of any amount, starting from 1 share and up to all 50,000 shares.
The authorised share capital can be both par value and no par value.
A Belize IBC company may issue different classes of shares.
Bearer shares are prohibited from being issued in Belize.
Privacy of a Belize Company
Belize is considered a highly confidential jurisdiction.
Information on registers of directors, shareholders and beneficial owners is not available to the public.
Corporate registers are kept at the company’s registered office and maintained by the registered agent. The International Financial Services Commission of Belize may inspect the company’s corporate registers.
Information about the company may only be disclosed to the authorities of other countries and only upon official legal request from such authorities.
The privacy of a Belizean company can be further enhanced by using nominee services. If you want more information on how to open a company in Belize with nominee services, please do not hesitate to contact Astra Trust for a free initial consultation.
Economic Substance Requirements In Belize
A company in Belize is subject to economic substance requirements.
Under the Economic Substance Act, Section 8 of 2019, Belizean IBCs fall under two categories: included and non-included entities.
Included entities are those that carry out relevant activities, which the act defines as the following types of activities:
- Banking Business;
- Insurance Business;
- Fund Management Business;
- Financing and Leasing Business;
- Headquarters Business;
- Distribution and Service Centre Business;
- Shipping Business;
- as a Holding Company, engaged, or where one or more of its subsidiaries is engaged in one of the activities listed under s.5 (a) to (g);
- all regulated entities under the IFSC Act.
All Belize companies that are not engaged in any of the above-mentioned activities are non-included entities and do not fall under the scope of the economic substance requirements.
For Pure Equity Holding Companies (PEHCs) that only hold equity participations and only earn dividends and capital gains, only the minimal requirements apply, and generally, there will be no need to demonstrate sophisticated economic substance in Belize.
Reporting Requirements in Belize
According to the latest legislative changes, every IBC in Belize shall:
- Apply for a Tax Identification Number (TIN);
- Designate a Fiscal Year; and
- File an Annual Return within nine months of the end of the designated fiscal year.
Astra Trust can assist you in complying with all statutory requirements following your Belize company registration.
Key Features of Belize company
General Information
- Jurisdiction – Independent nation
- Entity type – IBC
- Corporate Tax – 0%
- VAT – 0%
- Currency – BZD and USD
- Currency Exchange Control – Not for IBCs
- Legal framework – Common Law
- Recognition of Trust – Recognised
- Court of final appeal – the Caribbean Court of Justice
Business Activity Restrictions
- Business Activity Restrictions – No. Subject to standard licensed types of activities.
- Economic Substance Requirements – Applicable
Requirements to Directors
- Register of Directors – Publicly not accessible. Stored in the Registered Office
- Minimum Number of Directors – 1
- Corporate Director – Available
- Local director – Not required
- Nominee Director – Available
Requirements to Secretary
- Secretary – Not required. Optional.
- Local Secretary – Not required.
Requirements to Shareholders
- Register of Shareholders – Publicly not accessible. Stored in Registered Office
- Minimum Number of Shareholders – 1
- Corporate Shareholder – Available
- Annual General Meeting – Not required
- Location of Meetings – Anywhere in the World
- Nominee Shareholder – Available
Share capital
- Minimum Authorized Share Capital – USD 1
- Standard Authorized Share Capital – USD 50,000
- Minimum Issued Share Capital – USD 1
- Currency of Share Capital – USD or any other
Reporting Requirements
- Preparation of Accounts – Not required
- Filing of Annual Return – Not required
- Publicity of Annual Return – Not public
- Audited Accounts – Not required
Other features
- Redomiciliation to/from Jurisdiction – Permitted
- Shelf companies – Available
Questions and Answers
What are the benefits of forming a company in Belize?
The benefits of Belize company formation include low taxation rates, asset protection, privacy for shareholders and directors, and the ability to conduct international business with minimal restrictions. Additionally, Belize’s legal system is based on English common law, providing a familiar framework for many international investors.
What types of companies can be formed in Belize?
In Belize, the most common type of company is the Business Company (BC). Other structures include Limited Liability Companies (LLCs) and Public Limited Companies (PLCs). Each type offers different features and advantages, catering to various business needs.
What if I am interested in Belize company formation with bank account?
Astra Trust provides clients with a full range of services, from Belize offshore banking to the incorporation of Belize IBC with a Belize bank account. Contact us for free consultation or to place an order for Belize company formation with a bank account.
What are the tax implications of Belize company formation?
Companies formed in Belize, particularly IBCs, benefit from zero corporate tax on income generated outside of Belize, making it an appealing option for international business activities. However, it is essential to consult with a tax advisor to understand specific tax obligations based on individual circumstances.
What are the requirements for Belize company formation?
To form a company in Belize, one typically needs to provide details such as the proposed company name, the nature of the business, the names and addresses of directors and shareholders, and the registered office address. Additionally, a minimum of one director and one shareholder is required, and there are no residency requirements for either role.
Is there a minimum capital requirement for Belize company formation?
There is no minimum capital requirement for forming an International Business Company (IBC) in Belize. However, it is recommended to state an appropriate amount of authorised capital that reflects the intended business activities.
Is it necessary to visit Belize to complete the company formation?
It is not necessary to visit Belize to complete the formation process. Many service providers can handle all aspects of the registration remotely on your behalf.
How long does the Belize company formation process take?
The Belize company formation process can usually be completed within two to three business days.
Can foreign nationals form a company in Belize?
Absolutely. Foreign nationals can fully own and operate companies in Belize without any restrictions. The country encourages foreign investment, making it an attractive option for international entrepreneurs.
Can a Belize offshore company open a bank account?
Yes, a Belize offshore company can open a bank account in Belize or other jurisdictions, which is essential for conducting business transactions and managing finances.
How can I start the Belize company formation process?
To begin the Belize company formation process, it is advisable to engage the services of a reputable service provider that specialises in offshore company formations. They can guide you through the necessary steps, assist with documentation, and ensure compliance with local laws.
Can I order Belize offshore company with bank account?
Yes. The Astra Trust team is ready to assist you with opening a Belize bank account for your own company or to provide you with a Belize shelf company, including an account in Belize. We have various Belize shelf companies with bank accounts opened at a Belize bank or in other international banking jurisdictions like the Seychelles or British Virgin Islands. So contact us now to get your Belize offshore company with bank account.
Are there any ongoing compliance requirements for Belize companies?
Yes, Belize companies must adhere to certain ongoing compliance requirements, such as maintaining a registered office, keeping proper accounting records, and filing annual returns with the Belize Companies Registry. However, Belize has relatively lenient regulations compared to many other jurisdictions.
Are there any confidentiality provisions for Belize offshore companies?
Yes, Belize has strong confidentiality laws that protect the identities of shareholders and directors, ensuring privacy for individuals involved in offshore company formation.
