# Types of Business Structures in Belize URL: https://www.businesssetup.com/blog/types-of-business-structures-in-belize Description: Selecting a business structure in Belize depends on your business requirements. Our guide walks you through various structures available in Belize. Published: 14 June 2024 Updated: 12 August 2026 --- Belize, a tax haven for offshore businesses, offers a straightforward process for setting up a company. This process ensures legal recognition and provides a clear roadmap for business operations. An entrepreneur can choose from various legal structures, such as Limited Liability Companies (LLCs), Business Companies (BCs), Foundations, and Trusts, for [Belize offshore company formation](https://www.businesssetup.com/offshore/belize-offshore-company-formation). Let's take a detailed look at each of them in this blog. ## Top Legal Entities in Belize for Company Formation Various types of companies in Belize are suitable for offshore company formation in the jurisdiction:  ### Business Companies (BC) After the latest amendments to the Belize IBC Act, international business companies in Belize are now referred to as business companies (BC). Unlike before, the Belize BC can now operate domestically. Since Belize transitioned to a territorial tax system, firms earning only foreign income are exempt from local taxation, provided they can prove the source of the income. It is one of the preferred types of companies in Belize, as it facilitates easier global business with considerable flexibility.   ### Limited Liability Company (LLC) A limited liability company is one of the preferred types of companies in Belize. This structure is a mix of a partnership and a corporation, combining limited liability with tax-related flexibility. In Belize, such companies are governed by the Limited Liability Companies Act, 2023 (as amended). Like other offshore jurisdictions, a Belize LLC can be set up with just one member and has no minimum capital requirements, making it one of the preferred Belize companies. ### Limited Liability Partnerships (LLP) LLPs are specifically designed for professionals, including lawyers, accountants, and doctors. Under this, all the partners have limited liability against the firm’s debts and each other’s liabilities. That means the negligence of one partner does not make the other partner liable for repayment. Moreover, partners of LLPs have pass-through taxation, and the firm’s profits are reflected on their personal income tax returns if they operate domestically in Belize. However, if the partnership earns only foreign income, the local tax exemptions apply. Moreover, partners’ home countries are applicable for tax purposes.  ### International Foundation A Belize foundation is governed by the International Foundation Act. Unlike a trust, a Belize foundation is an autonomous and separate legal entity. It can own property, sue and be sued, open bank accounts, and hold assets in its own name. The founder, the foundation's council, the protector, and the beneficiaries play crucial roles in operations and internal management.  There are four types of Belize foundations, including private/family foundations, charitable foundations, non-charitable/purpose foundations, and hybrid foundations. With the help of an advisor, you can choose the type that best meets your objectives.  ### International Trust Governed by the Belize Trusts Act, a Belize international trust is one of the most powerful offshore structures for wealth and asset protection. A Belize trust is one of the most popular legal entities in Belize, known for its iron-clad asset protection and no waiting period. Thus, creditors cannot raise disputes when assets are transferred to the trust, as there is no waiting period under Belizean law. On top of that, the trust law does not take into account a foreign court's judgment. Anyone wanting to question the assets must file a case in the local court. The settlor, trustee, protector, and the beneficiaries are four key players in a trust's operations. It is governed under the Belize Trusts Act.  ## Types of Companies in Belize: Key Features and Suitability  **Structure** **Best Used For** **Requirements** **Main Advantage** Business Company (BC) (Formerly IBC) International trading, online businesses, and holding global stocks/crypto. 1 Person (Can be the sole Director and Shareholder) Standard, globally recognized corporate setup. Limited Liability Company (LLC) Asset protection, holding real estate, or US-facing digital businesses. 1 Person (Can be the sole Member and Manager) Flexible management; lawsuit protection via charging orders. Limited Liability Partnership (LLP) Professional firms (doctors, lawyers, accountants) or joint ventures. 2 Partners (At least one must be a local Belize resident/entity) Protects you from being sued for your partner's professional mistakes. International Foundation Bypassing probate court, protecting family wealth, or crypto protocols. 1 Founder + 1 Council Member (Council member must be a licensed local entity) An ownerless hybrid entity that acts like a corporation but protects like a trust. International Trust Urgent or high-stakes asset protection and succession planning. 1 Settlor + 1 Trustee (Trustee must be a licensed Belize Trust Company) Legally immediate asset protection against lawsuits with zero waiting period. ## How Can Business Setup Worldwide (BSW) Help? These are the various types of companies in Belize for [setting up a business as a foreigner](https://www.businesssetup.com/blog/steps-setup-business-belize-foreigners). If your goal is to protect your assets or manage the wealth, trusts and foundations are a great choice. Moreover, for [global business expansion](https://www.businesssetup.com/blog/global-business-expansion), LLCs and BCs are a suitable choice for entrepreneurs. Regardless of the choice you make, navigating the local requirements can be tedious for newcomers. If you require further assistance with [company formation services](https://www.businesssetup.com/services/company-formation), please contact Business Setup Worldwide. [Contact us](https://www.businesssetup.com/contact-us) now, and the experts at BSW will assist you in resolving your business queries.