:
registration of legal entity

Cost of registration The cost of the second year Number of Directors Corporate tax rates Payment of Charter Capital Financial statements
750.00 USD 720.00 USD 1 1.75-19.00% 0.00 No

Registration of companies in Belize

company incorporation in Belize

Belize is a small Caribbean state located at the base of the Yucatan peninsula in Central America, it is bordered by Mexico (northwest), Guatemala (south and west) and the Caribbean Sea (east). The official language in Belize is English but most of the locals speak the Belizean Creole and Spanish. The population of Belize is more than 380,000 people with the capital city known as Belmopan. The official currency of Belize is the Belize dollar (BZD).

The government of Belize is a unitary parliamentary constitutional monarchy. Belize is a member of the United Nations, Commonwealth of Nations, the Caribbean Community (CARICOM), Community of Latin American and Caribbean States (CELAC) and many more. The legislative framework guiding company activities in Belize is the International Business Companies Act 1990.

It is important to know that when registering a business in Belize, you should pay attention to the legislation of this local jurisdiction, especially the local taxation. Law & Trust provides services for the collection of necessary registration documents, client support, and free initial consultation.

Benefits of Company Formation in Belize

  • Economically and politically stable jurisdiction;
  • Easier and quick incorporation process;
  • No minimum share capital requirement;
  • Favourable tax regime;
  • Double taxation treaty signed with two countries;
  • Minimum of one shareholder and director
  • Directors, shareholders and beneficial owner’s details are not available to the public;
  • Nominee service is allowed;
  • Bearer shares are permitted.

Companies in Belize: Taxation

  • The corporate tax rate ranges depending on the activity of the company - 1.75% to 19%
  • VAT rate - 12.5%
  • The tax rate for international commercial companies
  • US$1.5 million and more - 1.75% taxable income
  • Less than US$1.5 million - 3% taxable income
  • Resident companies - 25% of the company’s financial turnover.

The annual fee of offshore companies in Belize depends on the size of the previously announced share capital, and the rates are fixed with the following values:

  1. The capital range from €10,000 to €50,000, the fixed fee to the state is US$100 per year.
  2. The capital range from €50,000 and more, the fixed fee to the state is US$1000 per year.
  3. In a case, where the company issues shares without par value, it is mandated to transfer $350 annually to the local state treasury.

Payment should take place prior to January 31st of the year following the billing period. Otherwise, the company will be blacklisted.

IBCs incorporated on or before 16th October 2017 remain tax exempt up to 30th June 2021 and can still obtain a Tax Exemption Certificate up to 30th June 2021.  The IBCs are therefore only liable to taxes in Belize if they are resident in Belize. 

Double taxation treaty signed with two countries and Tax Information Exchange Agreements (TIEA).

ОФШОР БЕЛИЗChanges in companies in Belize in 2019

The new International Business Corporation (IBC) regime which came into effect as at the 1st of January, 2019 has made it possible for businesses to act in certain areas, they include:

  • Acquire real property or an interest in real property in Belize;
  • Hold an interest in any Belize company, whether domestic or international;
  • Conduct business with any Belize resident;
  • Open and operate a domestic bank account in local Belizean dollar;
  • Engage in direct investment and trade in Belize.

IBCs holding a license issued by the International Financial Service Commission (IFSC) e.g. Trading in Securities, Forex, Brokerage, etc.) are now required to establish a physical presence in Belize. This condition should be met by the end of 2019.

IBCs that do decide to be physically present in Belize will consequently be deemed as residents for tax purposes in Belize. The companies that decide to remain outside of Belize and carry out their core income generating activities will not be deemed as residents in Belize, therefore will not be liable to taxes on income derived outside of Belize.

IBCs may apply for a Certificate of Good Standing, subject to payment of registry renewal fees, and may apply for a Tax Identification Number (TIN) and thus file annual tax returns, audited financial statements and accounting records, which has been established by the Accounting Records Maintenance Act of 2013.

IBCs with an income of at least $6 million and operating entities with an income of at least $250,000 (designated processing area) are required to be audited by the Commissioner of Income Tax. Also, the company can be audited with regards to total revenues, assets and employees. This also applies to companies under the supervision of the tax authorities, they include those:

  • Listed on a stock exchange;
  • Restructuring, liquidating or selling all assets via auction;
  • Regulated by the IFSC;
  • Preparing consolidated Financial Statements.

IBCs incorporated on or before 16th October 2017 remain tax exempt up to 30th June 2021 and can still obtain a Tax Exemption Certificate. IBCs incorporated after 17th October 2017 requiring Tax Exemption Certificate must give evidence that:

  • The IBC is not physically present in Belize;
  • Its core income generation activities are conducted in a country where taxes under the Income and Business Tax Act of Belize;
  • It is paying the rate of taxes payable.

All Belize IBCs must keep at its registered office up-to-date registers of directors, shareholders and ultimate beneficial owners (duly signed by a director).

Bookkeeping in Belize

 

  • Annual account filing requirements - NO.
  • Annual tax return filing requirements - NO.
  • Audit requirements - NO.

 

Company Registration Requirements

  • Certificate of Incorporation;
  • Articles and Memorandum of Association;
  • A legal registered address;
  • Bearer shares capital;
  • No minimum share capital requirement;
  • Minimum number of one shareholder;
  • Minimum number of one director. No residence requirement;
  • A secretary is not mandatory;
  • Notarized passport copies.

The Company Registration Process: Conditions and Regulations

Belizean offshore area implies the creation of companies in the organizational and legal form of IBC. The name can be created in any language with the addition of standard abbreviations indicating the organizational and legal form of the company.

After the registration of the company in Belize, the client should be assured of a high level of confidentiality. The State has no public register of entrepreneurs, and all the data about the directors and founders are not available to the general public.

When registering an offshore company in Belize, it is important to take into account its scope of activities because legal, transport, banking, insurance and other fields require further relevant licenses and registration, services which Law &Trust provides.

Non-resident company registered in the territory of the state have no right to own a real estate, buy land and carry out transactions with residents of the state.

Belizean offshore areas require the establishment of businesses with the declared charter capital. The standard level is 50,000 euros. The contribution may be done using any currency.

Non-residents do not need to undergo a detailed audit or submit reports, although the country's legislation requires the maintenance of accounting records to enable reflection of offshore financial conditions in Belize upon request.

How to Register a Company in Belize: The Registration Process

Step 1. Law and Trust works with the client to get the company’s name and activity approval from the Trade Registry;

Step 2. Law and Trust works with the client to secure the Memorandum of Association (MOA);

Step 3. Law and Trust collects, prepares and files the necessary incorporation documents on behalf of the client to the relevant authorities for approval;

Step 4. Law and Trust works with the client to open a corporate bank account in Belize;

Step 5. Law and Trust deliver the certificate of incorporation personally to the client or via courier service.

Belize Company Formation FAQs

How much does it cost to register a company in Belize?

The cost of registering a company is US$750. the total cost includes the preparation of legal documents, company registration, payment of all taxes and fees at the time of registration and legal address for the company (a year).

How long does it take to register a company in Belize?

It takes from two days to complete the company registration process in Belize.

What is the most common form of a company incorporated in Belize?

The most common company type incorporated in Belize is the International Business Corporation (IBC).

Do I need a local registered agent to register a company in Belize?

Yes, a local registered agent is needed to complete the company registration process in this jurisdiction.

Do I require a license to run a business or company in Belize?

Yes, a license is required to run a business in Belize but it comes down to what type of business is run in this jurisdiction.

Why Incorporate with Law&Trust International?

Benefits of company registration, formation, and incorporation services with Law&Trust International in Belize include:

Full range of related services: Provision of a full range of legal, corporate, government, and business intelligence related services in Belize. A detailed overview of our services includes full legal support of the company registration procedure, obtaining a legal address, interaction with the official government authorities of the jurisdiction, state fees, legal address of the company for a year, production and registration of company stamps and advising the client as part of the registration process. Opening a bank account and the cost of these services are discussed during the consultation.

Professionals and expertise of Law: Worldwide registration and legal maintenance of companies, accounting services, and audit, tax planning and optimization, trademark and patent registration. Law and Trust provide clients with the best company incorporation services.

Domestic service: Law&Trust ensure our services cover every region, area or state in Belize. Be rest assured that no matter where the new company intends to incorporate in Belize, we’ve got the location covered.

Free initial advice: Free consultation from the lawyers of Law&Trust International regarding strategies or the provision of services for analyzing and developing a legal position on an issue the client raises in Belize.

Confidentiality: Law&Trust makes use of modern technological features to keep the records and details of every client safe.

Efficiency and productivity: Strategically providing up to date personalized services to help your business succeed.

Ready for Company Incorporation?

If you are interested in registering and incorporating a company in Belize, contact Law & Trust International by simply sending an email or call now to take your business to the next level!

Set of documents
   
  • Certificate of incorporation 
  • Memorandum and Articles of Association 
  • Apostille of the bound set of copies of constitutive documents 
  • Subscriber’s Resolution 
  • Resolution of first shares allotment 
  • Share Certiciates 
Nominee director and shareholder
   
  • Resolution effecting the issuing the Power of Attorney 
  • Apostilled Power of Attorney 
  • Consent Letter 
  • Director Resignation Letter 
  • Nominee Director’s Declaration 
  • Resolution effecting the change Director 
  • Deed of Trust 
  • Instrument of Transfer 

 


General information
Square22 966.00
Population327 719.00
CapitalBelmopan
Unemployment19.50
State polityParliamentary democracy
Telephone code501
locationin Central America, southeast Yucatan Peninsula
ClimateTropical; very hot and humid; rainy season (May to November); dry season (February to May); avg. maximum temperature (August) +34°; avg. minimum temperature (January) +15°
Literacy rate76.90%
Ethnic groupsmestizo 48.7%, Creole 24.9%, Maya 10.6%, Garifuna 6.1%, other 9.7% (2000 census)
National currencyBelizean dollar
USD exchange rate1.91
GDP per capita122
Official languageSpanish 46%, Creole 32.9%, Mayan dialects 8.9%, English 3.9% (official), Garifuna 3.4% (Carib), German 3.3%, other 1.4%, unknown 0.2% (2000 census)
Credit ratingB
The judiciarySupreme Court, Court of Appeal, magistrates' courts and the Judicial Committee of the Privy Council of Great Britain
Executive authorityHead of government: Prime Minister. Government: Cabinet of Ministers appointed by the Governor-General of the General Assembly on the recommendation of the Prime Minister
Legislative authoritiesbicameral National Assembly
Corporate information
Opportunity to purchase ready-made companiesНет
Legal systemBased on English Common Law
Terms of purchasing ready-made company1 день
The use of the Cyrillic alphabet in the nameНет
Local registered officeНет
Organizational and Legal FormsIBC, Trust, Joint Venture, General Partnership, Limited Partnership, Sole Proprietorship, Branch, Representative office
Terms of registrationfew hours
Indication of BPA in the nameLimited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima, Aktiengesellschaft or the relevant abbreviations
Local registered agentНет
Shares and share capital
Standard currencyU.S. Dollar
The minimum amount of the issued capitalNo
Bearer sharesНет
The usual size of the authorized capital50000
Usual nominal value of sharesUSD 1
Possibility to issue shares without par valueНет
Taxation
VATНет
Basic corporate tax rate1.75-19.00%
Capital gains taxНет
Currency controlНет
Corporate tax rates detailsThe companies with income greater than USD37,500 per year will be subject to the payment of business tax every month as per the tax rates applicable to business type, this will count as a credit toward annual tax assessments. Business tax will be on gross receipts. Business tax rates range from 1.75% to 19%, depending on business type.
Stamp dutyНет
Director and Secretary
Minimum number of directors1
The requirement for residency directorsНет
Director of legal entities are allowedДа
The data reveals to the local agentДа
Data field to the public registryНет
The requirement for the presence of the SecretaryНет
Requirement to the residense of the SecretaryНет
Requirements to qualification of the SecretaryНет
Legal entity as the SecretaryНет
Shareholder and beneficiary
Minimum number of shareholders1
Data is entered in the public registerНет
Shareholders residency requirementНет
Information about the beneficiary is disclosedНет
Information may be disclosed to the local agentНет
Shareholders-legal entities are acceptableДа
Reporting
The requirement for filing reportsНет
Open access to reportsНет
Statutory auditНет
The requirement for filing Annual ReturnНет
Open access to the Annual ReturnНет
The requirement for reportsНет
Treaty on avoidance of double taxation (States which signed)18
Membership in the OECDНет
Is it offshore according to Russian legislationНет
Trademark Registration
TM Comprehensive Study TM Registration Request TM Registration Certificate Total
First Class Additional Class First Class Additional Class First Class Additional Class First Class Additional Class
144.00 120.00 870.00 288.00 0.00 0.00 1014.00 408.00
«TRADEMARK» refers to «Wordmark», «Logo» or «Wordmark + Logo»

Prices include all professional and official fees. If the change of official duties or exchange rates prices may vary.

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