Belize

Belize (formerly British Honduras) is a constitutional monarchy, and the northernmost Central American nation. Belize has a diverse society, comprising many cultures and languages. Despite Spanish and Kriol being the main languages, English is the only official language. Belize is bordered to the north by Mexico, south and west by Guatemala, and to the east by the Caribbean Sea. Belize’s mainland is about 180 miles long and 68 miles wide.

Belize is culturally unique among its Central American neighbours; it is the only nation in the region with a British colonial heritage. As a part of the Western Caribbean Zone, however, it also shares a common heritage with the Caribbean portions of other Central American countries. In general, Belize is considered to be a Central American nation with strong ties to both the Caribbean and Latin America. Belize is a member of the Caribbean Community (CARICOM), and Sistema de la Integración Centroamericana (SICA).

IBC, an International Business Company, is the most popular type of offshore corporation , used worldwide for tax planning and asset protection purposes. Every offshore tax haven has its version of IBC legislation. An IBC is a private company which is designed to engage into any international business activity. An IBC is exempt from tax in its home jurisdiction, it has extensive features protecting confidentiality of its owners and is not subject to any onerour reporting requirements.

A Belize IBC is formed under the Belize International Business Companies Act. This piece of legislation was initially adopted in 1990 and further extended and amended in 2000. Belize IBC Act is considered internationally as one of the most medern and user-friendly offshore corporation legislations available. A Belize IBC is a perfect corporate vehicle for international financial transactions, being especially designed with the offshore investor in mind. Belize’s laws facilitate fast and simple incorporation, and its modern and computerized IBC Registry is capable to process a company registration within one hour.

The advantages of Belize as an offshore jurisdiction:

  • Belize has probably the fastest IBC Registry in the world, where incorporation of a new offshore company only takes a few hours.
  • Belize IBC’s are properly free from any tax in Belize, with only a few simple pre-conditions, which are provided by Article 130 of the Belize IBC Act. In particular, all income of a company incorporated under the Belize IBC Act; all dividends or other distributions paid by the company to persons who are not resident in Belize; all interest, rent, royalties, compensations and other amounts paid by the company to persons who are not resident in Belize; all capital gains realised with respect to any shares, debt obligations or other securities of a company incorporated under Belize IBC Act by persons who are not resident in Belize, are exempt from all provisions of the Belize Income Business Tax Act. A Belize company is also exempt from any stamp duty on its transactions.Essentially, a Belize IBC is a completely tax-free offshore company, for as long as a Belize IBC does not pursue business within the territory of Belize (except for the standard management services).
  • A Belize IBC does not have any minimum paid-up capital requirement.
  • A Belize company may issue registered shares or bearer shares and any of these may be designated into classe4s as voting shares, non voting shares, shares having more or less than one vote per share, shares that may be voted only on certain matters or upon the occurrence of certain events. Bearer shares may not be issued to their actual owner but may only be kept in custody of the Registered Agent in Belize.
  • Belilze IBC’s are free from any reporting requirements.
  • Belize is known for its peace, democracy and stability.
  • Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned-Movement.
  • The legal and judiciary system of Belize is based on the English Common Law.
  • Belize has not been involved in any conflicts of civil disturbances, unlike some other countries in the region.
  • Belize does not disclose its banking or fiscal information under any information exchange agreements to any foreign parties on grounds of suspected tax evasion.
  • Belize provides probably the fastest IBC incorporations in the world. Same-day incorporations are standard in Belize.

Our Belize office was opened in May 2010.

http://www.incometaxbelize.gov.bz/

 

Login

Username
Password