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Belize

Belize (until 1973 named British Honduras) is a country in the Central America that became independent from the United Kingdom on the 21st of September of 1981. Now Belize is a parliamentary democracy, a member of the Commonwealth of Nations, a member of the United Nations since 1981, a member of Organization of American States, a full member of the Caribbean Community. Belize is a constitutional monarchy. The legal system is modeled on the Common Law of England.

  • Official language — English.
  • Currency — Belize dollar (BZD).
  • Main sources of Belize income — export of fish and sea products, wood and wood products, sugar, banana and citrus plants, tourism service, offshore companies.  Belize is an advantegeous territory for registration of companies with a fully legal tax exempt status. The company can not run any onshore business and must be controlled and managed from overseas.
  • Main act of legislation for registration of an international company in Belize — International Business Companies Act 270 Revised Edition, 2000.

Necessary information you need to know planning to register a company in Belize:

  • Registered type of company — International Business Company (IBC).
  • Registered address / Agent — company must have a registered address in Belize and a registered licenced Agent. The Agent presents a company to all state departments.
  • Minimum number of directors and shareholders allowed — one. It can be either a natural person of any nationality and residence or a legal entity.
  • Information about directors and shareholders — closed for public access, but the agent keeps the registers of directors and shareholders.
  • Accountancy — company must keep its financial statements but there is no requirement to give any account or perform annual audit of the company.
  • Taxation — a company is exempted from any kind of taxation and must pay only fixed annual state fee.
  • Bearer shares – allowed.
  • Authorized capital — the standard sum of authorized capital is 50,000 $. There are no terms of its payment, but the amount of authorized capital influences the registration fee for a new company and annual duty.
  • Limitation of offshore company activities – companies are neither allowed to do any business nor to have property in Belize. Special licences are needed to run banking, insurance and trust services. Belize has double taxation agreements with Great Britain, Denmark, Sweden and the Caribbean Community.
  • Banking — the country is included into the 2nd group of the Central Bank of the Russian Federation direction (Appendix 1 to the Bank of the Russian Federation instruction dated on the 7th of August 2003 № 1317-У) and the «grey list» of OECD (Organization for Economic Co-operation and Development) according to the summary of Q20 sammit on 2nd April 2009.

Standard package of the documents:

  • Certificate of Incorporation
  • Appointment of First Director
  • Memorandum & Articles of Association
  • Notarized and Apostilled set of copies of the documents
  • The company's seal