Belize, a small country with a bold vision—where economic stability, tourism, and financial services come together to create a prosperous destination for those who think big.
Belize presents a compelling case for economic stability, growth, and investment through its well-established financial sector and diverse economic foundations.
Situated on the eastern coast of Central America, Belize has a stable and healthy economy. Belize also has the second-highest per capita income in Central America. The country’s economy is based mainly on tourism, agriculture, and services. The offshore services industry, remarkably, has made a major contribution to Belize’s GDP.
Belize has a well-established banking jurisdiction, and regional financial institutions are available in Belize, Government savings banks and commercial banks. Offshore banking service is to consider as well.
Belize International Business Company (IBC)
Belize Limited Liability Company (LLC)
This is the result of the fact that an
IBC in Belize can enjoy:
- No minimum paid-up capital required.
- No requirement for appointment of Belize-resident director.
- No need to hold a regular Annual General Meeting. If needed, meetings may be held anywhere within or outside Belize as deemed necessary by directors and by telephone, teleconference, or other electronic means.
- An IBC can be exempt from income and corporate tax generated outside Belize.
- Belize IBC comprises a simple incorporation process.
Management Structure
IBC incorporated in Belize does offer a high level of flexibility in its corporate structure. At least one shareholder and one director are required (both of whom may be the same person). Directors or shareholders do not need to be Belize residents.
Corporate directorship which means another company can be the director of IBC is allowed Belize IBC may issue registered shares or shares issued to bearer or both. The memorandum and articles can be amended by a resolution of shareholders or directors.
An IBC is required to pay a fixed annual fee to the Belize Government, and this amount is significantly less than in some other jurisdictions.
Tax and Regulatory requirements
Once the IBC is successfully incorporated in Belize, it’s essential to adhere to the annual compliance requirements to avoid penalties.
general requirements for Belize IBCs:
- Maintain a registered office within Belize.
- Obtain a Tax Identification Number.
- File annual tax return and fulfill tax obligations in Belize.
- Submit financial statements and audited reports.
- Satisfy any relevant compliance fees as mandated.
- Provide evidence of economic substance within Belize if applicable.
- Maintain comprehensive documentation and accounting records for the company.
Limited Liability Company (LLC)
Limited Liability Company is one of the most common business structures when in search of Belize offshore company formation. It combines the benefits of a partnership and a corporation and is the most common business structure used in Belize.
Belize LLC does not require unlimited liability of at least one general member like the limited partnership structure, but it limits the company member’s liability to the amount they make a contribution to the company. In other words, no member of the LLC shall be personally liable for debts or obligations of the company if there is no legal agreement.
Court Proceedings for Entities
Belize retains the English common-law legal system, offering a stable legal foundation. An IBC provides strong protection, ensuring that directors’ and shareholders’ personal assets are shielded from claims like malpractice lawsuits.
Foreign court rulings are not recognized in Belize. Any legal disputes must be retried locally, and only judgments from Belizean courts are enforceable, adding an extra layer of asset security.
