Belize
Capital: Belmopan.
Official languages: English, Spanish.
Currency: Belize dollar.
Belize, as an offshore jurisdiction, is rightfully one of the most popular tax-free havens in the world.
Belize is a country in Central America occupying the southeastern part of the Yucatán Peninsula on the coast of the Caribbean Sea, bordering Mexico to the north and Guatemala to the east and south.
Belize has a diverse economy focused on tourism, agriculture, mining and financial services. The country actively attracts foreign investors by offering a number of incentives and stimuli for business development. Tax incentives for companies registered in this country are especially attractive.
Advantages of company registration:
Offshore companies are fully exempt from all local taxes and the need to file financial statements.
Safety and confidentiality of information at the highest level - the register of shareholders is not part of the state archive, so shareholders' names cannot be requested from outside the country.
An offshore company in Belize can have 100% foreign capital.
Taxation and Reporting Requirements
Belize provides tax benefits for companies registered in the country. Companies not doing business within the country are exempt from corporate income tax. In addition, there is no tax on capital investments and dividends.
Thus, an International Business Company (IBC) in Belize has serious tax advantages for conducting international business and investments with minimal tax burden.
- Profit tax: An IBC in Belize does not pay profit tax if it earns income outside of Belize. If income is received from sources in Belize, the tax will be 1.75%.
- VAT: An IBC company is exempt from paying VAT in Belize. Only local operations (e.g. rental of premises) may be subject to this tax.
- Royalties and interest. IBC company income in the form of dividends, royalties, interest, payments for services and others - are not taxed when received from sources outside of Belize.
- Property taxes. An IBC company does not pay property tax on property located in Belize.
- There are no requirements to provide financial statements.
Company Registration
Registration timeline: 2-3 business days.
To register an offshore company in Belize, at least one owner, one shareholder and one director are required. The same individual or legal entity may freely occupy all of these positions.
The company type needs to be determined. Popular business forms in Belize are the International Business Company (IBC) and Limited Liability Company (LLC).
- Come up with a unique company name and check its availability in the registry.
- Prepare incorporation documents in English, notarized, with all data on directors, shareholders, authorized capital.
- Company Memorandum of Association.
- Company Articles of Association.
After processing the documents and paying the applicable fee, you will receive a Certificate of Company Registration.
How to Quickly Register a Company in Belize:
To quickly register an IBC Belize, contact the IT-OFFSHORE specialists. Our service fee includes:
- Preparation of documents (collection, completion, notarization, etc.)
- Company registration.
- Payment of all state fees.
- Registration agent services for 1 year with renewal option.
- Translation services.
- Delivery of registration documents to any address.
Opening a local bank account and accounting services are charged separately.
The bottom line
Belize is an ideal place to set up offshore companies. An offshore structure provides entrepreneurs with many benefits, such as reduced tax liabilities, privacy and flexibility in managing the business.
However, before proceeding with the registration of a company in the country in question, we recommend that you seek professional advice from the legal experts of IT-OFFSHORE in order to obtain up-to-date information on the rules and requirements, as well as to ensure a successful registration process and compliance with the law.
