Belize is a beautiful destination when it comes to offshore business investment. Over the years, the region has been successfully transformed itself into one of the most profitable offshore grounds. Among the structures, the International Business Company (IBC) is one of the most sought and favourable ones. This treatise contains the essential elements that one needs to know if they are looking forward to investing in Belize.
If you are planning to invest in the offshore business, then Belize IBC is one of the smart options that you can proceed ahead. Let’s get started.
Belize IBC Act
The International Business Company (IBC) is one of the popular corporate offshore business entities that is widely opted by business investors when it comes to offshore investment. Here’s a guide on International Business Company (IBC) that will help you to understand the business concept at ease and to take the necessary steps accordingly.
The region of Belize has established its International Business Companies Act in 1990, which has approved the formation of IBC corporate entities. According to the act, the Belize IBC is one of the internationally adopted modern and user-friendly offshore jurisdictions. This corporate vehicle has been designed to provide numerous benefits to global investors. The business entity can be incorporated within a short span, which allows the business investors to be free of burden. By engaging oneself in the Belize IBC process, an investor holds the flexibility to engage in different activities like offshore banking, asset protection, etc.
Core Features of Belize IBC
Some of the characteristics or features of Belize IBC that drives the business investors to invest in are:
- The business entity is exempted from any kind of tax to the Belizean Government
- The company can be incorporated with the presence of one director or shareholder
- When it comes to nationality, Belize IBC has got no restriction
- Bearer shares are allowed which are transferable
- The business meetings can be held in any part of the world
- The liability amount is restricted to the nominal value of the shares
- No compulsion of registration of a Belize IBC
- Doesn’t hold any minimum paid-up capital requirement
- Company liquidation holds more manageable steps
- There is no requirement to hold any business or director license
- Bookkeeping and maintaining the accounting records is not compulsory
Core Parameters of Starting a Belize IBC
Some of the parameters that need to be focused on by the business investors while proceeding towards incorporating a Belize IBC are:
- Preparation of the Memorandum and Articles of Association
- Preparation of Shareholder’s Letter of Acceptance regarding the Allotment of Shares
- Preparation of Director’s Consent Letter
- Preparation of Minutes of Meeting
- Preparation of Board of Resolutions
- Preparation of Ultimate Beneficial Owner’s Declaration
- Preparation of Share Certificates
- Preparation of Notarized set of Corporate Documents with affixed Apostille
How to Set Up a Belize IBC?
When it comes to the Incorporation of a Belize IBC, the process involves the following steps:
1. Decide a Company Name
Deciding on a company name is one of the vital parts which an investor needs to perform wisely. This is the first step when it comes to the incorporation of a Belize IBC. Once the business name is chosen, it needs to be verified with the registry as it cannot be an identical one in regard to its competitors.
2. Prepare the Required Set of Documents
Documentation is one of the major players when it comes to the incorporation of a company. When it comes to the incorporation of a Belize IBC, the set of documents mentioned above needs to be submitted accordingly, which will undergo the scrutiny process.
3. Proceed towards Company Registration
Once the relevant documents have been submitted, it undergoes the scrutiny process, which will be registered under the Belize Registry. It is essential to note that the registry demands to carry out the process with the involvement of a certified business consultant.
4. Open a Corporate Bank Account
To carry out the business transactions, a business entity needs to hold a corporate bank account. An offshore bank account allows business owners to carry out the relevant business transactions at ease. Here’s a guide on the advantages of offshore banking, which will help you to understand the core essentials at ease.
5. Carry out the Offshore Activities
Once the business entity gets successfully incorporated, it is ready to carry out the relevant business activities at ease. Some of these activities include asset protection, international trade, and offshore investment.
Thus, you have seen the required business activities do involve legal complications that can’t be avoided. The best and smart way to carry out the same is by getting in touch with a certified business consultant who can help you in the complete process. Starting a business in Belize is a profitable move, and to understand it in a detailed manner, here’s a guide on the Top 10 Benefits of Offshore Company Registration in Belize.
At Business Setup Worldwide, we focus on understanding the core business needs of our esteemed clients and provide customized solutions accordingly. Our business advisors are well-versed with the IBC incorporation process and can guide you accordingly at every step. In case if you hold any queries, feel free to have a word with our business advisors. Contact us today-we’d be glad to assist.