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Belize, known as British Honduras till 1973, is a country on the northeast coast of Central America. Its population is small in number but ethnically diverse, being composed of a large proportion if immigrants. The nation has one of the most stable and democratic political systems in Central America. Belize is a free-market economy based primarily on agriculture, export of oil, tourism and infrastructure. Of late, the services industry has been growing at a steady pace.
A company in Belize can be registered as one of the following legal entities.
A Belize limited liability company (LLC) is a type of company in which the shareholders are liable for the debts and obligations of the company only to the extent of their respective contributions. It requires only 1 shareholder, 1 director, and a paid-up capital of US$1 to be started. Additionally, a local registered agent would be required to form an LLC in Belize. A Belize LLC is suited if you wish to conduct business with Belizean residents.
A Belize limited partnership can be formed by general partners (at least one of whom must be a Belizean resident) and limited partners. The general partner bears unlimited liability for the company’s debts and incomes, unlike the limited partner who has limited responsibilities as far as one’s contributions to the company’s capital are concerned. General partners engage in and approve all business activities of the partnership.
A Belize offshore company, also known as an International Business Company (IBC), is legally mandated to carry out international transactions (only), and exempt from all taxes in Belize. It can be formed by 1 shareholder, 1 director (both of whom need not be Belizean residents), and a minimum share capital of US$1. An IBC is ideal if you wish to set up an international trading company.
A foreigner may choose to incorporate an offshore trust, aka international trust, in Belize. For this, all the company’s beneficiaries and assets must not be from Belize. At least one of the trustees of the trust is required to be a licensed trustee services provider in Belize. A Belize trust is suited for investment, wealth management and asset protection purposes.
To register an international foundation in Belize, there must be at least 1 founder, who is required to appoint a management council and a registered agent (who should be a licensed trustee services provider with the Belize International Financial Services Commission). The identities of the founders, beneficiaries and council members of an international foundation need not be publicly disclosed. This type of company can be opted for if one is looking to operate in the domain of wealth management.
A foreign company can open its branch in Belize. The branch would be treated as the same legal entity as its parent company. For setting up a branch office, a resident representative is to be appointed.
Foreign companies may open a representative office in Belize. A representative office is not permitted to conduct manufacturing or commercial activities, but may carry out market research or promotion for its parent company. Like a branch, the registration of a representative office calls for the appointment of a resident representative.
Company formation in Belize has the following advantages:
Business Setup Worldwide is a platform to help you set up a business in Belize. Right from processing your documents with the Belize Companies Registry to bookkeeping and intellectual property protection, we facilitate the formation of your company through counselling and incubation.
Business Setup Worldwide’s proprietary business design techniques, combined with its specialized regional know-how and global reach, enable our clients to anticipate changes in customer priorities and the economic market, and then shape their businesses and improve operations to make use of opportunities created by those changes.
Business Setup Worldwide helps entrepreneurs and investors establish their company in Belize. We take care of the Banking, Visa, Legal, and Licensing formalities, and allow corporates to focus on their company formation process without having to worry about the legal formalities. We guide you through your business setup, with your business vision at the centre of our ecosystem, at all times.
Our commitment to professionalism, extensive capability across various industries, proactive learning in the ever-changing global environment, and the ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Business Setup Worldwide, and provide the competitive edge in ensuring business growth. If wish to set up your company in Belize, do reach out to us. We’ll be glad to help.