BELIZE (IBC)
Country’s geography & information in brief: Belize borders with Mexico on the North & with Guatemala on the South. It became independent form Great Britain in 1981. The population count with 2,5 million people. Official language is English. Currency – Belize dollar. Companies are incorporated according to The International Business Company Act (IBC) 1990.
Entity type: International Business Company (IBC)
Directors: Minimum number – one. Directors may be private or legal persons, residents of any country. There’s no public register of directors. The information is kept by the registered agent.
Shareholders: minimum number – one. Shareholders may be private or legal persons, residents of any country. There’s no public register of shareholders. The information is kept by the registered agent.
Secretary: there are no special requirements concerning the secretary.
Authorized capital: standard declared capital is of 50 000 USD. There are no requirements for paying out the whole or part of it.
Names’ restrictions: name shall end with “Incorporated”, “Corporation”, “Limited”, or “Inc.”, “Corp.”, “Ltd.”, “GmbH”, “S.A.”. Names containing words such as “Bank”, “Insurance”, “Trust”, “Assurance”, “Imperial”, “Royal”, etc. & derivatives are not allowed to register without special license.
Requirements: company must have a registered address & registered agent in Belize.
Owner’s data: the local laws don’t demand the information about the real beneficial owner of the company to be presented, however such information must be held by the registered agent.
Constituent documents set: Certificate of Incorporation, Notary Certificate, Memorandum & Articles of Association in English, Resolution of the Subscriber to appoint the first director/shareholder, Share Certificate, Copies of the above documents legalized by apostille.
Nominee service: allowed.
Transfer of an alien company to Midland Consult service: possible, but only with consent of the previous agent in Belize.
Currency control: no
Audit & financial reports: there are no requirements to file annual return & financial statements.
Taxation: taxation rate for IBC is 0%
Government fees: for companies with authorized capital up to 50 000 USD the fee is $100.
Additional information: bearer shares are admitted. Belize doesn’t appear in so called “black lists” such as ones of FATF (International Group Against Money Laundering), OECD (Organization for Economic Cooperation & Developments)
