Belize is an English enclave in southern Mexico and eastern Guatemala. Belize is an ideal place for the incorporation of offshore business. The International Business Companies (IBC) Act Chapter 270 of the Laws of Belize created a particular group of companies known as an International Business Company. The law was enacted to permit tax minimisation and asset protection at economical rates. An Offshore Company is well-defined as a company that pays no taxes and is, for the most part, free of trade and other boundaries such as trade licensing, exchange control, and public disclosure requirements in Belize.
The Belize International Business Company (IBC) is a type of private company that can be incorporated in Belize under the local IBC laws which are specific to this jurisdiction. It has a set of characteristics that make it appropriate for foreign investors and popular among those who wish to start an offshore business.
Advantages of Offshore Company Setup in Belize
The Belize IBC is a profitable offshore business used by the investors interested in trading but also for tax planning and asset protection. Here are a few advantages of an offshore company –
- Hassle-free incorporation of your new IBC company can take as little as a few hours to two days
- The stable regime, Belize is a member of the British Commonwealth and also the United Nationals
- No taxation as Belize is one of the jurisdictions in the world that does not impose corporate income tax for its IBC
- Belize has a diverse economy and the offshore industry is an essential contributor to the GDP
- Belize is easily accessible by sea or air, and the time-zone location is also a convenient one for the international investors
- A stable political system with a long history of peaceful and democratic development
- Information about beneficial owners, directors, shareholders is not available to the public
Main Uses of an IBC Offshore Company in Belize
- Financial management
- Ship or property ownership
- International investment
- Commercial trade activities
- IT Company
Characteristics of a Belize Offshore Company
- Minimum of one director and one shareholder
- Bearer shares are permitted
- No requirement of paid-up capital
- No obligation to appoint an auditor
- No obligation to file accounts
Procedure to Start an Offshore Company in Belize
Our specialists at BSW have years of experience in setting up an offshore company in Belize and can make the process hassle-free. We can help you start an offshore company in Belize with these simple steps –
- We will help you with filling the application form and submit it with proper documents and a preferred company name. The documents will include details of the beneficial shareholders and directors, such as nationality, resident country, address and profession.
- Prepare the due diligence documents. it includes –
- Scanned and notarised copy of the passport or an ID card
- Original proof of residence
- An initial letter of introduction is needed
- We take care of the rest and mail the company kit to you. At this point, you can open an offshore bank account using either our network or your banking connection.
If you have any queries, contact us at any time, or keep reading for more information on Belize company formation and banking options.