LLC registration in Belize in 2022
LLC in Belize is the most common form for registering an offshore company, which is a combination of such popular business structures as a corporation and partnership. Its advantages are quick registration, protection of assets, and zero taxes for companies that do not operate in the country. Read about the peculiarities of LLC registration in Belize in 2022 in this article.
Benefits of Belize
LLC in Belize has features that distinguish it from similar structures of other countries:
- No LLC employee is liable for the company's loans or obligations unless there is a legal agreement;
- Belize offers many benefits to foreign companies that comply with the requirements for an LLC, i.e., do not earn an income within the country. The organization is completely exempt from local taxes, including income tax, on business, assets, gifts, capital gains, inheritance, as well as income derived outside of Belize;
- The laws protect assets. They can not be taken to cover the debt of one of the members of the LLC, and the lender can not interfere with the management or ownership of the LLC. Belize does not recognize judgments of other countries, so the creditor has to work locally;
- LLC ownership information is confidential and will not be made public;
- Belize company may not file an annual report or appoint an auditor, but you have to file its name and address of the registered agent in the Registry;
- Annually it is necessary to pay a fee for the renewal of the license.
Registration of LLC
To register an LLC in Belize in 2022, follow these steps.
Choose an agent
If you plan to incorporate your LLC in Belize, but you do not live here, you should contact an agent who can help you with registration. IT-OFFSHORE specialists will tell you what documents you need, how to make them, where to submit them, what to do after the registration. We will also help with the legal office, which has to be on the territory.
Choose a name
The name has to be unique and, should not resemble the name of another organization. It can be in any language, including the country where you are going to work. The name should not suggest a connection with the Belizean government, a bank, a trust, an insurance company.
Determine the owner of the company and its structure
You need at least 1 individual or entity to register an LLC. It is difficult to change the owner of the LLC, so it is better to give truthful statements right away. He/she can be a person of any nationality. It is not necessary to appoint a secretary.
Together with the official application, it is necessary to provide a passport, papers that confirm the financial stability, and a certificate from the previous owner or the bank. Also the Charter, Memorandum, and the constituent documents are needed. Copies of documents must be translated into English, notarized, and apostilled.
Usually the regulator considers the application within 20-30 days, иut we can get everything done in 1-2 days. If everything is in order, the applicant receives confirmation that the LLC is registered. After opening a company in Belize in 2022, you can start working.