When it comes to offshore company formation, you have undoubtedly got many options to choose from. But you need to know that all jurisdictions are good for both offshore banking and the formation of the company. The offshore company formation involves setting up a company in one jurisdiction and opening a bank account in another jurisdiction. The same is the case for Belize.
Belize is well known in the offshore industry for setting up a company mainly; it is best for your company to headquarter. The Belize IBC (International Business Company) is a private company that can be included in Belize under the local IBC laws that are specific to this jurisdiction. In this blog, we provide you with details on why Belize is a prime choice for starting an offshore company
Advantages of Starting an Offshore Company in Belize
An IBC in Belize is a type of Offshore company that is used by investors those who are interested in trading, tax planning and asset protection. Following are some of the main advantages of opening an offshore account in Belize:
1. Belize has a Stable Economy and Currency
The economy is really thriving in Belize. In Central America, Belize has the second-highest per capita income. This is indeed a very healthy sign of the economy. The Belize dollar is bound to the US dollar at a ratio of 2 to 1. If you are looking to start an offshore company in Belize as an international investor, then Belize is the location for you.
2. Belize is Friendly for Business
Belize has really worked hard to accommodate foreign businesses and individuals of high net worth who might want to secure their assets. The Government has recognised the strength of being a prominent offshore jurisdiction. Belize is also friendly for international businesses. The incorporating process is pretty simple and straightforward. There are no minimum capital requirements as well as accounting requirements. All the records of the shareholders and the directors are kept out of the eye of the public. Various Amendments off late such as the International Business Companies Act, Trusts Act and Offshore Banking Act have made incorporations in Belize easier.
3. Belize is a Tax Haven
Belize is truly a tax haven which is indeed a great feature that makes it an advantageous place to start an offshore company. Belizean companies don’t pay taxes on foreign income. Such income is considered as dividends, capital profits, revenues and earned interests which are tax-free. If you are not a Belizean, the dividends paid from your company based in Belize are tax-free. Belize also has no tax treaties with any other governments. This makes it easier for individuals and businesses to bank without any worry.
4. Belize Ensures Financial Privacy
If financial privacy is an important matter for you, then consider Belize without any doubt. Belize has put strict stipulations to ensure the financial privacy of all those who invest there. In Belize, there are also no restrictions on the currency being moved in and out of the country. Offshore companies incorporated in Belize can transfer as much currency as they want as there is no exchange control. There are also no reporting requirements also.
5. Belize Ensures Fast Incorporation
Fast incorporation of a company in Belize is another important factor that makes Belize so suitable for you to start an offshore company. The incorporation of a new International Business Company in Belize can take as less as a few hours or a couple of days only.
6. Belize has a diverse economy
The offshore industry of Belize is a major contributor to its Gross Domestic Product (GDP). The economy of Belize is, however, diversified one, and this makes Belize a good location for you to start your business.
7. Belize has Easy Accessibility
Belize is easily accessible both by sea and air. The time-zone location of Belize also makes it convenient for international investors.
There are many offshore banking jurisdictions that offer a combination of some of these benefits. Belize is one of those countries that provides the most comprehensive benefits for individuals as well as companies who are longing to start an offshore account. You are in pretty good hands in Belize if you want a business-friendly tax haven that will keep your finances private. The governmental stability and the banking options being the best in Belize among all the other countries in the world, you can assure confidently that your finances are in safe hands and will be in the best possible environment.
We at Business setup worldwide provide business setup solutions for starting an offshore company in Belize. If you need any assistance regarding business setup, then you can, contact us! We’d be happy to assist you.