Belize, formerly British Honduras, became a British Colony in 1862 and gained independence in 1981. Belize is an exporter of agricultural produce and tourism is a major industry. The finance sector is expanding.
Belize is a parliamentary democracy where the major commercial centre is Belize City. The administrative capital is Belmopan. Executive Authority is exercised by the Prime Minister and Cabinet.
The International Business Company Act of 1990 enabled the formation of the offshore business company, which is used by non-residents for their international trading and investment purposes. It must generally conduct its activities outside of Belize although a limited number of onshore activities are permitted. Other forms of company are the Limited Life Company, introduced by the Limited Life Companies Act 1999 and the protected cell company.
| Belize offshore company regulations |
| Type of entity |
IBC |
| Type of law |
Common |
| Corporate taxation |
Nil |
| Double taxation treaties available |
No |
| Share Capital |
| Usual currency |
U.S.$ |
| Permitted currencies |
Any |
| Minimum paid up |
Usually $1 but no par value and bearer shares allowed |
| Usual authorised |
$50,000 |
| Directors |
| Minimum number |
1 |
| Local resident required |
No |
| Records publicly available |
No |
| Corporate Director allowed |
Yes |
| Shareholders / Members |
| Minimum number |
1 |
| Records publicly available |
No |
| Location of meetings |
Anywhere |
| Company Secretary |
| Required |
No |
| Local or qualified |
N/A |
| Accounts |
| Required |
Yes |
| Audit required |
No |
| Filing required |
No |
| Publicly available |
No |
| Other |
| Annual return required |
No |
| Change of domicile permitted |
Yes |
| Shelf company available |
No |
| Time to incorporate shelf co |
N/A |
| Time to incorporate new co |
1-3 working days |
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