Set up company Belize is something any business owner should consider. Belize is an independent English-speaking state in the north-east of Central America and is a member of the British Commonwealth of Nations. Being a colony of Great Britain in the past it gained independence in 1981. Nowadays, Belize offshore is not groundlessly considered one of the most popular offshore centers in the world.
Its government actively and fully supports the development of offshore business and guarantees compliance of Belizean policies and legislation with the interests and requirements of the international financial society. So, Belize uses General English law and this is the only country in South and Central America with English as the official language. In addition, if you are looking for a country that has never been involved in civil wars or conflicts, a country with a stable economic and political situation, Belize is a great choice.
Why set up offshore company in Belize
Offshore companies Belize, like in other offshore zones, are guaranteed high confidentiality of information about company owners, and this makes Belize one of the most confidential and secure jurisdictions. Even from the point of the potential risk of disclosing information to the governments of other countries Belize is probably the most confidential and secure offshore zone. What guarantees such confidentiality?
During the process of Belize offshore company registration, the information about directors and shareholders of the company is not publicly available. It is known only to a registered agent, who is obliged not to disclose it to anyone without the written permission of the company owner. All internal corporate documents (lists of directors, members, corporate protocols and decisions) are kept by a registered agent and are also confidential. The only documents that are in public reports after establishing an international business company in Belize are the Charter and the Memorandum of Association, but they do not indicate any information about the owners of the company.
Ways to register company in Belize
Belize is most often chosen due to the lack of taxation, the high speed and low cost of registering an offshore company. Regarding the speed of Belize company registration, this country probably provides the fastest procedure for registering a company in the world. Companies in Belize are resorted to by large corporations, medium-sized businesses, and individuals.
However, despite all its offshore features, a company formation in Belize has own rules. The first of them is that you need an office registered in the country. Most often, your registration agent provides it or helps to find. The presence of a registration agent is also a prerequisite, otherwise, it is impossible to register company in Belize.
Company types you can register
The IBC and LLC can be opened in Belize. The IBC Law appeared in 1990 and immediately attracted attention with its thoughtfulness and business orientation. Together with the amendments of 2000, the Law on International Companies in Belize is considered one of the friendliest and most understandable in its field. The Law on LLC (limited liability companies, which in fact are hybrids of partnerships and corporations) was adopted only in 2012.
Both types of companies are actively used for holdings, conducting a trading or other business, Internet services and, of course, for asset protection. Information about the owners and directors of the Belize offshore formation limited is protected. Data on business activities is also not accessible for third parties for no good reason.
It is important to note that Belize is on the list of countries with which Russia exchanges financial information about companies registered in their territories.Atrium Business Solutions
Requirements for companies
Belize is a truly tax-free offshore zone, but in order to enjoy these advantages, companies must fulfill certain conditions:
- A company register Belize cannot have business residents of Belize.
- Owning any real estate in Belize is not allowed. It’s possible to rent an office only.
- It’s necessary to obtain a license to carry on banking, insurance, and trust activities.
- It’s not allowed to provide the company’s legal address to other foreign companies.
However, there are exceptions to these rules:
- After offshore company registration Belize, the company can open an account and deposit in any Belizean bank.
- The business can collaborate with Belizean lawyers, accountants, administrative and trust companies.
- It’s possible to hold a meeting of shareholders and directors in Belize.
- The company can keep accounting in Belize offshore.
- The company can own a vessel registered in Belizean territory.
In order to register offshore company Belize, you need to collect documents for all directors and shareholders of the company. There are not so many of them:
- a copy of the passport;
- a copy of the document confirming the place of residence.
If there are legal entities in the structure, they will need to provide a copy of the Company Registration Certificate and copies of constituent documents (Charter and Memorandum of Association).
Then, come up with the name of your future company. A Belize company can have any name, except for one that already exists in the Belize companies registry. You cannot use names that are very similar to the names of already existing companies or derogatory names. You can invent it in any language, but it should be written in Latin letters. Some words like fund, royal, cooperative, trustee and others should not be contained in Belize offshore company formation name or they will need to obtain the permission of the Registrar of Companies and in some cases a license.
Benefits to open company in Belize
Why are Belize offshore solutions limited so popular among businessmen? The thing is in its favorable conditions for the offshore business:
A minimum number of directors and shareholders. Only 1 director and 1 shareholder are required and they can be represented by one legal entity or individual of any nationality.
Information about the director and shareholder is confidential and is stored exclusively with the registration agent.
There are no minimum capital requirements. The standard authorized capital is 50 thousand registered shares for 1 US dollar. With such capital, it is easiest to register a company and its maintenance will be cheaper. Belizean legislation provides high flexibility in this matter allowing the capital of the company of any size, starting from 1 US dollar or it may not exist at all. For offshore company formation in Belize, the amount of capital is fixed in the Memorandum and Articles of Association.
Quick and easy offshore company formation in Belize
Offshore in Belize is a very profitable solution for your international business. The low cost of Belize company register and maintaining, as well as the complete exemption from taxes, makes it possible to reduce costs and increase revenue by many times. Besides, full-fledged, high-tech and international offshore banking services make Belize an ideal jurisdiction for the international offshore business, aiming to reduce the tax burden and offer its goods and services to the markets of other countries through attracting international investment.