Belize is one of the most beautiful Caribbean countries. It is no wonder why more and more people are settling in Belize, visiting the country, setting up a company there, or opening an offshore account in one of the country’s offshore banks. More and more investors are interested in incorporating a company in Belize. The IBC Act of 1990 was introduced in order to provide for competitive offshore regulation of IBC’s in Belize. This law was subsequently amended through the IBC Amendment Act of 1995 in order to reflect the necessary changes.
Belize has an efficient and relatively easy process of incorporation. In fact, the whole process may only take you a couple of days. You only need to have your registered agent deliver all the necessary documents to the Registry and pay the registration fee. These documents include the Memorandum of Association and Articles of Association.
The law of Belize allows a lot of flexibility of a company’s structure. It only requires one director or shareholder who may be the same person and could either be a natural or juridical person. Companies are not required to have a resident secretary or to appoint local directors or shareholders. Belize also insists on security and confidentiality by keeping the names of the persons written in the incorporation documents under wraps.
The required standard capital is US$50,000, with a minimum issued and paid in share of one. The law requires that the register of the shares must be continually updated. These shares may be issued with or without par value, in any identifiable currency; and may be paid up in three ways, in cash, through transfer of assets, or other consideration.
Offshore companies in Belize are exempted by the IBC Act of 1990 from taxes, and companies are not required to account for their operation or to maintain company records in Belize itself. Companies can do the accounting and maintaining of records anywhere else they desire.