Belize was formerly
British Honduras. It is an independent commonwealth country
which is located on the Caribbean seaboard of the Central
America. It got its independence from Britain in 1981. The
government has been very stable and peaceful. The political
administration of the country lies with the Prime Minister.
He decides all the policies of the Government in
consultation with the various Ministers of the country.
These ministers are chosen by the Prime Minister from a
designated House of Representatives and an Appointed Senate.
Because of the IBC Act 1990 Belize now offers tax-free IBCs.
Earlier there were quite high rates of taxes which had to be
paid by resident companies and persons. This new legislation
has been based on the earlier BVI legislation. While the
annual Government fee is $100 in BVI the equivalent payable
fee for the same is $350. It is likely that Belize will soon
become a very important offshore corporate domicile.
The Belize IBC
A Belize IBC has the following characteristics:
Taxation
– –in Belize taxes are not paid by IBCs
Shareholders
-the minimum number of shareholders required is 1.
Either bearer shares or registered shares may be issued. The
details of the shareholders never appear in the public file
but a file of details has to be maintained by the company at
the registered office address in Belize. Since 1st July 2001
the certificates of the issue of bearer shares must be kept
in the custody of a licensed intermediary professional. He
should hold paperwork to the ultimate owner.
Directors
-the minimum number of directors required is 1.
Corporate directors are allowed. Public file doesn’t contain
the detail of the directors.
Annual Reporting
-it is not needed to file any annual returns or
accounts. It is worth noting that as much as 50% of the
annual Government fee can be incurred as penalty if the
license fee is not paid in time.
Timescale
-within 72 hours incorporation can be achieved but it
takes about a week for the document to come from the Belize.
For immediate purchase we keep ready-made companies in
stock.
Local Requirements
-the company must maintain (within Belize) a registered
office address. Further, a resident of Belize has to be
appointed as the agent of the company.
Feel free
contact us
at info@sadekya.com for more information on how we can help
you realize these benefits.
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