Ready made companies
Brief jurisdiction description
Belize (previously British Honduras) is an independent democratic Commonwealth country. Now it is a parliamentary democracy. The government of Belize is fully committed to the ongoing development of Belize as a leading offshore jurisdiction. The policy and legislation of the government continues to meet the needs and interests of the international financial community in an environment of trust and confidence ensured by the regular consultations with a private sector.
In addition to an IBC law, Belize now has legislation in place for Ship Registration, Trusts, Offshore Banking, Computer Wagering, Limited Life Companies, Limited Liability Partnerships, Mutual Funds, International Insurance, Protected Cell Companies, and a Financial Services Commission to regulate and monitor the industry.
Company law
International Business Companies Act Chapter 270 of the Laws of Belize.
A type of company preferred for international transactions
International Business Companies (IBCs).
Capital requirements
No minimum paid up capital requirements.
Who may incorporate
Subscribers can be individual or corporate. Nominee shareholding is also allowed through services of local registered agents and all incorporations must be arranged through them as well.
Method of incorporation
By filing Memorandum and Articles of Association and paying relevant fees to the IBCs Registry.
Minimum shareholders/members
One.
Directors and company secretary
Minimum of one director. He can be an individual or corporation, is required. A company secretary is not mandatory (but can be useful). They do not need to be residents. Also there is no requirement for filing directors and shareholders information.
Registered office
Registered office and registered agent are required in Belize.
Annual fees paid to authorities
Minimum USD 100 for IBC's with authorised capital up to USD 50 000. If authorised capital exceeds USD 50 000 — USD 1000.
Taxation rates, exchange control, audit, other financial restraints
There is no local taxation for IBC’s; annual return, disclosure of profits and audit of the financial statements of a company are not required; no exchange control or other financial restrains imposed upon a company.
Meetings
No shareholders’ meetings are required. Directors may meet when preferred. Meetings of shareholders and directors can take place outside Belize.
Belizean court doesn't have any power over trusts set up under Belize Trust Act. Belizean court cannot entertain any claim, coming from foreign country. As a result, no trust set up in Belize has ever been compromised.
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