Belize is an independent country located on the Caribbean Sea in mainland Central America with Mexico to the North and Guatemala to the South and West. It has a population of about 250,000 and covers an area 8,867 square miles. For nearly 4,000 years, it formed the keystone of the empire of the ancient Maya who developed, what was for their time, the most advanced civilisation in the New World. English is the official language although Spanish is also widely spoken.
A Belize IBC is an offshore company, which conducts its trading and business outside of Belize. Belize’s legislation also allows an IBC to carry on the following activities within Belize:
- Make or maintain deposits with local banks in Belize;
- Make or maintain professional contact with persons in Belize;
- Prepare or maintain books and records within Belize;
- Hold meetings of its directors or members within Belize;
- Hold lease of property for use as an office in Belize;
- Own a vessel (s) registered in Belize in accordance with the Registration of Merchant Ships Act, 1989;
- Hold shares in another Belize IBC
INCORPORATION OF AN IBC
Only licensed Registered Agents may organize IBC’ s by subscribing to a Memorandum and Articles of Association in Belize. The usual procedure is for a nominee to act as incorporator. Our company, Omegaserve Secretarial Ltd offers the service of sole incorporator.
Incorporation with a Belize IBC
- re-domiciliation into and out of Belize is permitted;
- registration in any foreign language is permitted.
In addition, Belize’s legislation facilitates speedy and simple incorporation, and its modern and computerized IBC Registry is capable of incorporating a company within one hour.
Belize’s modern and up to date offshore legislation provides for maximum flexibility in global asset protection and tax and investment planning. As a result, an investor can realize many competitive advantages in areas such as:
A Belize IBC is exempt from:
- the payment of all forms of local taxation;
- the payment of stamp duties for transactions in respect of its shares,
- debt obligations or other securities;
- the payment of stamp duties with respect to all instruments relating in any
- way to its assets or activities.
A Belize IBC is not subject to exchange control regulations.
Security and Confidentiality
With a Belize IBC – disclosure of the beneficial owner(s) is not required; – share register may be inspected only by a shareholder; – nominee shareholders and bearer shares are permitted; – assets are protected from confiscation or expropriation orders or similar actions by foreign governments.
Registered Agent/Registered office
An IBC must elect a Registered Agent and a Registered Office within the territory.
Every IBC, by a resolution of directors, may amend its Memorandum to change the place of its Registered Office or to change its Registered Agent.
Board of Directors
The business and affairs of the company shall be managed by a Board of Directors, that consists of one or more persons who may be individuals or companies. The name(s) of director(s) are not matter of the public record.
Powers of attorney
An IBC may grand general or special Powers-of-Attorney to any person, to act on its behalf and to execute contracts, agreements, deeds and other instruments. These powers are not recorded in the Public Registry.
Certificates of Good Standing
Good Standing Certificates for an IBC, can be obtained upon application to the Registrar of Companies.
Register of Shares
There is no public record of shareholders. Every IBC is required to keep one or more Registers of shares and shareholders, and at least one copy thereof must be kept at the Registered Office of the company in Belize. In order to comply with the law, it is mandatory that the Registered Agent be informed of any changes in the Register of Shares.
Bearer shares are allowed in this jurisdiction. Nevertheless, in accordance with the Regulations of June 2001, which are in force since July 2001, the Registered Agent is required to maintain physical custody of all bearer shares certificates on behalf of the client. This regulation applies to companies organized after July 1st, 2001.