Fixed assets like, property and land, in Belize are subject to tax rate ranging from 1-12%.
Accounting is regarded as the language of business. A business goes through a lot of transactions after being incorporated. These business transactions either result in cash inflow or cash outflow. Now, to keep a track on all these transactions turns out to be a mandate for any business. There are two types of accounting:
This form of accounting relates to the information made to stockholders, customers, creditors, regulatory bodies.
This deals with the confidential information that is not shared with the public like profits, salaries, cost of production, etc.
Bookkeeping is a term used when the recording of such financial transactions is done. When it comes to accounting, it is a vast process that comprises recording, interpreting, classifying, analyzing, reporting and summarizing these financial data. Any company no matter whether it’s big or small, established or a startup, do require accounting and bookkeeping services to keep a track on the financial flow and to understand the financial aspects in a better way. Moreover, these services help any business organization to foresee the future and plan their business activities accordingly.
The Institute of Chartered Account of Belize (ICAB) was established on 1st Nov 1984, with an aim of building a cohesive body of accountancy. Its main mission is to maintain and foster the international standards of accounting and to enhance the accounting proficiency.
Company registration in Belize takes place at International Business Company Registry of Belize. The regulatory body is the only hub that can provide any information related to public statutory. The regulatory body performs important functions such as:
Company formation in Belize requires certain essentials. Once they are met, an investor can set one’s business foundation in Belize. The essential requirements include:
It can be in any language but should be unique. It might end with Ltd., Corp., Inc., etc. depending upon the type of business structure.
A registered agent is required to clear the legal proceedings of company formation.
Setting up a company in Belize requires only one director.
Only one shareholder is required. He/she may be of any nationality.
Identity proofs of the directors and the shareholders are required verification purposes.
Any company established in Belize should follow a standard tax invoice while issuing invoices to the customer. It includes:
Goods and Service Tax (GST) on imported goods is subject to a tax payment of 12.5%. It is mandatory to file the GST returns by the end of the month.
Business Setup Worldwide understands the integrity and important role that accounting and bookkeeping play while establishing a business. We come with a comprehensive portfolio of accounting services that include:
As we have got an idea that how important accounting and bookkeeping services are from a business point of view, now let’s have a glance at the benefits that are derived from these services:
Business Setup Worldwide is a platform that helps foreign investors in establishing their company in Belize. Our business experts take care of the accounting and bookkeeping, so you can concentrate on business development activities. They guide and plan the entire business and financial structure that helps a company to gain stability in a foreign land. Apart from dealing and sorting out the accounts and financial aspects, our experts also help in clearing the legal proceedings which are essential to clear in order to establish a business.