How to Start a Foundation Company in Belize?

Located in Central America, the region of Belize is an undoubtedly favourable business investment platform for offshore business incorporation. Its legal and political structure has transformed the zone into one of the most opted offshore jurisdictions as it assures a feasible business-friendly platform to the business investors.

One such investment way that is widely accepted by global investors is to incorporate a foundation company in Belize. This guide highlights the core essentials that one needs to hold knowledge when it comes to the incorporation of a foundation company.

What is a Foundation Company?

A foundation company can be stated as a legal entity that acts like a Trust and carries out business operations like a Company. This legal structure is one of the widely chosen options when it comes to offshore investments and can be incorporated with the presence of one founder (can be an individual or a business entity).

Belize Foundation Company

The Belize Foundation company stands as a hybrid corporation that involves the characteristics of a company and a trust. As compared to other legal entities, the foundation company in Belize also enjoys a separate identity from its shareholders.  The corporate structure follows the Belize International Foundations Act of 2010 (amended 2013) that governs the formation, functioning, and dissolution of the company. It is a clear choice for the business investors; however, a Belize citizen needs to hold a license if he/she wants to proceed with more than one foundation company.

Some of the core reasons that business investors prefer to select Belize as the ultimate destination for the incorporation of a foundation company are:

  • Flexibility to enjoy a tax-free regime
  • No requirement of accounting and audit books
  • Flexibility to deal with offshore bank accounts
  • Flexibility to hold assets

What is the Process to Start a Foundation Company in Belize?

The incorporation of a foundation company in Belize involves the core process:

  1. Choose a Trade Name

The first and foremost task is to select a trading name. It is to be noted that a trading name represents the face of a company, and does it need to be chosen wisely. While selecting one, it needs to be kept in mind that the selected trade name needs to be identical and should be cross-checked with the Belize registry. Upon confirmation from the registry, the name can be used.

  1. Initial Deposit/ Endowment

The second step is to be handy with the initial amount that needs to be submitted to incorporate the business.

  1. Submit the Company Essentials

The third step is to be ready with the company essentials that need to be incorporated to set up a foundation company in Belize. The list of documents includes the following:

  • A duly filled business incorporation form
  • Memorandum of Association (MOA)
  • Articles of Association (AOA)
  • Identity details of the company shareholder(s)
  • Address details of the company shareholder(s)
  • Selected business trade name
  • Well-drafted business plan

These documents are to be submitted accordingly, as it needs to undergo the scrutiny process. Once verified by the governed authorities, the foundation company set up process can be taken to the next level.

  1. Proceed with Corporate Bank Account

Once the company documents have been verifying, the next steps are to proceed ahead with the offshore bank account process. By opening an offshore bank account, one can deal with future business transactions.

Thus, you have got an overall idea regarding the incorporation process of a foundation company in the region of Belize. It is to be noted that the proceedings involve a lot of legal formalities that need to be completed in an error-free way. To know why it is a smart option to proceed ahead with professional guidance, read our latest guide on how an offshore consultant can help you to start a business in Belize.

Business Setup Worldwide has been performing as one of the best business consultants in the UAE, which has been helping the business investors to incorporate their business at ease. Since inception, we have been helping many business minds to establish their business in the onshore and offshore jurisdictions. Our business advisors are well-versed with the business process and can guide you effectively. If you want to start your foundation company in Belize, feel free to have a word with our advisors. Contact us today-we’d b glad to assist.

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