BELIZE OFFSHORE COMPANY FORMATION
Belize is located in Central America on the southern border of Mexico and eastern border of Guatemala. It was the site of several Mayan city states until their decline at the end of the first millennium A.D. The British and Spanish disputed the region in the 17th and 18th centuries; it formally became the colony of British Honduras in 1862. It ceased to be a British Colony in 1981.
Currency: Belize dollar
Language: English speaking
BELIZE OFFSHORE COMPANY FORMATION
£1350.00 + VAT
|Services Included||Year 1||Year 2 onwards|
|Government Fee||Yes||US $150 annual|
|Corporate Domicile||Yes||From $550 annually|
|Accounting Data Address||Yes||Optional Extra|
|Director and Nominee Service||Optional Extra||Optional Extra|
Estimated renewal costs in year two: £750.00
Benefits of Forming a Company in Belize
There are a number of reasons why Belize is such a popular place for people all over the world to form their Offshore Companies, including;
- Same Day incorporation – With the benefit of our Belize office we are able to form your company on the same day that you place your order.
- Low Setup and Ongoing fees – Belize is one of the most cost effective jurisdictions, not only for the initial incorporation but it also has very low annual costs
- Low Capitalisation cost – Unlike many other Offshore Jurisdictions Belize companies require only $1 share capital to be issued. Capitalisation is often not factored in when assessing start-up costs so can be an unwelcome additional outlay. There is no need for this to be the case when choosing a Belize Company.
- Corporate Directors and Shareholders are permitted – Every International Business Company (IBC) registered in Belize requires 1 Director and 1 Shareholder. These can be individuals or corporate entities and they may reside anywhere in the world. The use of Nominee Directors and Shareholders is also permitted.
- No requirement for a Company Secretary
Zero Tax on income* – The International Business Company Act of 1990 states that all Corporations registered in Belize are exempt from tax on both the income of the company (derived outside Belize) and the liability for stamp duty.
- Zero Tax on Business Expenses* – Belize also does not withhold taxation on interests, rent, royalties, compensation, or anything else that might be an expense of a Belize IBC.
- Zero Capital Gains Tax* – There is no requirement for a capital gains tax in Belize, no matter how the gains were earned.
- No exchange control restrictions – Belize does not impose restrictions on the purchase or sale of foreign currencies by residents, or on the purchase or sale of local currency by non-residents.
- No Public Register of Directors and Shareholders – Companies registered in Belize are afforded probably the highest level of confidentiality of any jurisdiction worldwide.
- High level of Asset Protection – Belizean Law provides protection against assets being confiscated by any country’s courts.
- No requirement to file Tax or Accounting reports – While it is necessary to maintain accounts for your Company, there is no requirement to file those accounts with the Belizean Registry. Similarly there is no requirement to file annual tax statements.
- No requirement to update changes in your Company Structure – If you need to add or change the Directors or Shareholders of the Company at any time, there is no requirement to inform the Registrar.
* Please note that legislative changes being introduced in May 2019, in a small number of cases affect the tax position – please ask for full details.
Requirements to Form a Corporation in Belize
In order to incorporate your Belize Company, these are the steps that must be followed;
- Place your order – You need to use a Company Formation Agent to submit the necessary documentation to the Registry on your behalf. Payment needs to be made to the Registry on submission of the registration documents so our fee must be paid when the order is placed.
- Meet the Anti Money Laundering Requirements – In order to meet Anti Money Laundering Requirements we need to obtain a certified copy of the passport and current utility bill of each of the owners and shareholders. This is required even if you are using our Nominee Service.
- Documents are issued to you – Once the Registry has incorporated the company, we will issue you with the Certificate of Incorporation, Memorandum and Articles of Association, Share Certificates and all other company documents as required by Law. These documents can then be used to open a bank account for the company.
- The Power of Attorney is produced – The Power of Attorney assigns powers for the running of the company from the Nominees to the owners of the Company.
- Tax Information Number (‘T.I.N.’) Application – all Belize Companies are required to obtain this standard information number, including Companies with foreign derived income, purely for administrative and identification purposes.
Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.
Belizean Companies have to be renewed in January every year – All jurisdictions have different requirements for renewing the incorporation. In Belize, all companies must be renewed in January rather than on the anniversary of incorporation. We will automatically send you an invoice when your renewal is due.
All prices shown above are exclusive of VAT
HRM and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.