The location of Belize, which is in Central America, is unquestionably a good company investment platform for offshore firm establishment. Moreover, due to its legal and political framework, which guarantees a suitable and investor-friendly business environment, the zone has become one of the most popular offshore jurisdictions.
Among these investment strategies, offshore incorporation of a foundation business in Belize is well-liked by international investors. Therefore, this tutorial emphasizes the essential information required to include a foundation business.
What is a Foundation Company?
A foundation company can be 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 for offshore investments and can be incorporated with the presence of one founder (an individual or a business entity).
Belize Foundation Company
The Belize Foundation Company is a unique type of corporation that combines trust and company elements. It is a simple decision for business investors. However, if a resident of Belize wishes to move forward with more than one Foundation Company, they must have a license.
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 for accounting and audit books
- Flexibility to deal with offshore bank accounts
- Flexibility to hold assets
The Process of Foundation Company Formation in Belize
The offshore company formation in Belize will require you to go through some steps, which are as follows:
1. Finalize the Trade Name
The first task is selecting a trading name. It is to be noted that a trading name represents the face of a company and does not need to be chosen wisely. It needs to be kept in mind that the selected trade name needs to be identical and cross-checked with the Belize registry. Upon confirmation from the registry, the name can be used.
2. Deposit the Initial Amount
The second step is to be handy with the initial amount that needs to be submitted to incorporate the business.
3. Submit the Required Documents
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 the governed authorities verify, the foundation company set up process can be taken to the next level.
4. Open a Bank Account
Once the company documents have been verified, the following steps will proceed with the offshore company with bank account process. Finally, one can deal with future business transactions.
Thus, you have an overall idea regarding the incorporation process of a foundation company in the region of Belize. However, it is to be noted that the proceedings involve a lot of legal formalities that need to be completed error-free. To know why it is a smart option to proceed with professional guidance, read our latest guide on how can business consultants can help you start an offshore company in Belize.
As one of the top business advisors in the UAE, Business Setup Worldwide has been assisting investors in setting up their companies with simplicity. In addition, we have helped several business professionals launch their enterprises onshore and offshore. Our business consultants can successfully advise you on the business process. Feel free to contact us if you wish to establish your foundation in Belize.
What are the different types of assets that the Belize foundation can hold?
• Stocks, bonds, and other securities in public or private companies
• Intellectual property
• Real estate/immovable property
• Bank assets
• Investment portfolios
• Life assurance policies
• Most other types of assets
What is the minimum share capital in Belize?
No minimum share capital for the Belize foundation.
Who are the beneficiaries of the Belize foundation?
The beneficiaries are the persons directly mentioned by name or about a particular class in the foundation's charter or bylaws. Beneficiaries are those eligible for the advantages listed in the charter or bylaws of the foundation.