Belize

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Belize GENERAL INFORMATION ABOUT THE JURISDICTION

Belize is a state located in Central America on the Caribbean coast. Formerly known as British Honduras.

The political system is based on the British model. The head of state is the Queen, represented by the Governor-General. The administrative capital is Belmopan, but the main commercial center of the country is Belize City.

The political system is based on the British model. The head of state is the Queen, represented by the Governor-General.

Belize is a unique offshore country. A small, even tiny territory contains world-famous attractions. For example, the longest (298 km) barrier reef in the Northern and Western Hemisphere, stretching like the Great Wall of China along the coast. In the area of 100 km, where Belize City is located the world-famous Blue Cavity, 123 meters deep and 305 meters wide, a real paradise for diving enthusiasts.

And this is not the only uniqueness of this state. Belize is an offshore zone that provides tax exemptions for non-resident businesses.

ADVANTAGES OF INCORPORATION OF OFFSHORE COMPANY IN BELIZE:
  • Jurisdiction is a party to the Convention, which abolishes the requirements for the legalization of foreign official documents (The Hague, 05.10.1961).
  • The legislation is designed for saving money.
  • There is a lack of requirements for the submission of annual, financial reports, as well as the conduct of audits.
  • The presence of special legislation on trusts allows you to protect your assets.
TYPES OF COMPANIES:

The most popular legal form of business for offshore operations is the International Business Company (IBC).

INCORPORATION IN BELIZE:

Opening an offshore company in Belize (BVI):

  • Company name - must end with a word, phrase, or abbreviation that indicates the limited liability of the company: for example, "Limited", "Ltd.", "Corporation", "Corp.", "Societe Anonyme", "Sociedad Anonima", "GmbH ". Without a license for the relevant activity, it is forbidden to use the words bank, building society, insurance, assurance, trust, trustees, Chamber of Commerce, municipal in the name.
  • Registration procedure - it is necessary to draw up a charter and a memorandum of association, which, after incorporation should be sent to Companies House.
  • Prohibited activities or activities that require licensing - an offshore cannot engage in commercial activities with residents, cannot own and receive income from real estate that is located in the jurisdiction, and cannot provide a registered office to other companies.
  • Authorized capital - usually authorized capital of an offshore company is 50,000 USD. There are no payment requirements.
  • Director – there should be at least one director. Which can be or an individual, or a legal entity. There are no residency requirements.
  • Shareholder - there should be at least one shareholder. Which can be or an individual, or a legal entity. There are no residency requirements.
  • Secretary - not required.
  • Reporting - Belize offshore companies are required to maintain accounting records that reflect the financial condition of the company, but an audit report is not required to be submitted to government authorities.
  • Confidential information - information about shareholders and directors is not disclosed.
  • Each company must have a local registered office and a local registered agent.
TAXATION

The state of Belize is a purely classical offshore. So that, there are no income taxes, capital gains, gift, and inheritance taxes. Thus, it is beneficial for your to establish your own business in Belize.

EXCHANGE CONTROL

There is no exchange control.

DUAL TAXATION TREATIES

The jurisdiction has signed treaties for the avoidance of double taxation with the following states: The United Kingdom of Great Britain and Northern Ireland, Kingdom of Sweden, Kingdom of Denmark, Jamaica, and the Caribbean Community.

If you want to establish and to register a company in Belize, Campio Group specialists’ will provide you with all-round assistance in this matter, please contact us:

+38 (044) 383-48-88

+38 (044) 383-28-88

We will help you to buy an offshore company in Belize or in any other jurisdiction on the most favorable terms.