History of Belize

Belize has a population of over 310,000 and is located to the South of Mexico. Belize is a member of the British Commonwealth and is the only English-speaking country in South America. It declared its independence from the United Kingdom in 1981. Although its official language is English the majority of the population also speaks Spanish.

Belize as an Offshore Centre

Belize is renowned for the speed of establishing companies and the protection of the anonymity of their shareholders. However, the very exotic nature of this destination can hamper trade with Europe. International Business Companies (IBCs) are the most popular form of offshore company in the country, they offer the protection of limited liability and are governed by the Belize IBC Act.

The creation of an IBC is not subject to any minimum share capital requirements, residency or citizenship requirement. IBCs may not do business in Belize or even hold property there (though property such as office space can be leased if required). Only activities relevant to the establishment and administration of IBCs may be conducted with residents of Belize (lawyers and accountants, etc.).

Company formation is subject to a Government fee of between 100 USD or 1,000 USD (depending on share capital). All company information must be held by a resident agent in Belize however they are bound by the Law not to disclose it.

Belize Summary

Belize is still classified by the OECD as a non-cooperative territory, but this jurisdiction may be of interest, provided that it does not charge clients for services such as messaging or consultancy, service provision and other intangible services, which could cause them tax problems. In this instance, you may use a British company as a gateway.

Types of Company in Belize

IBCs are overwhelmingly the most common structure used in Belize and the company can be incorporated in one day.