Technology has become an inseparable part of our lives today. Right from preparing a small object like a needle to a humongous thing like a ship, technology has got its role to play. From a small shop to an MNC, every business has adopted technological change as it saves time and provides comfort. The demand for the IT industry has been globally expanding, and even the offshore locations have spread its arms to adopt it.
Are you a business investor who is keen on opening a software business? If yes, then you must proceed with offshore tax-haven jurisdictions, which will give you complete tax exemption. Belize is one of the most affordable and profitable offshore jurisdictions widely preferred by business investors for offshore company setup. Although the location is chosen for asset and wealth management, it is also the right choice for setting up a software company. This guide highlights the core that you need to focus to start a software development company in Belize.
Offshore Software Business in Belize
Belize has been excelling in grabbing the business investors attention when it comes to offshore company incorporation. The software segment has been one of the booming sectors in the Belize offshore business, and by incorporating one, an investor can carry out global digital operations. Specific activities that get carried out by an offshore software development company involves:
- Implementation and designing of software
- Building a business model and data handling
- Domain modelling
- Development (component) testing
- Building wireframes and networking
How to Start an Offshore Business in Belize?
By now, you have got an idea regarding the core activities that can be carried out by the software development companies incorporated in offshore destinations. The company establishment process gets completed when implementing the related moves outlined below in a sequential manner.
- Be clear regarding your business idea: At first, you need to hold a clear picture regarding the business model that you are planning to carry out. Being aware of having a blueprint will help you to understand and plan the next moves at ease.
- Get in touch with a certified business expert: In the next step, you need to get in touch with an accredited business expert who holds hands-on-experience in the offshore company setup process.
- Decide your business name: It is advised to decide your business name under the supervision of your business expert as they are well-aware about the norms that need to be fulfilled. While selecting one, make sure that your trade name stands unique and doesn't match with the competitors available in the market.
- Select a business structure: Alike the onshore business jurisdictions, the offshore tax-haven countries also has got separate business structures that can be easily selected by the business owners. An International Business Company (IBC) is the commonly opted business structure that business investors proceed ahead.
- Submit your documents: The offshore company incorporation process demands the investors to submit the relevant company documents to the government authorities. You need to submit the same to your business investors, who in turn will help you to grab the authorities permission at ease. After inspection, the license will be approved accordingly. If it is not, you need to cross-check with your business advisor and clear the process.
- Avail for a domain name, hosting and website: As you focus on building a software development company, you need to have a website to showcase the relevant business activities. To initiate for the same, you need to hold an offshore domain name with hosting, resulting in a fully designed, optimized and responsive website.
- Open an offshore bank account: Finally, you also need to set up an offshore bank account to carry out the business transactions internationally. By opening an offshore bank account, you can enter into international forex trading and grab numerous benefits. To know more about the advantages that you can hold, look at our guide on Advantages of Offshore Banking.
Incorporating an offshore software business is one of the smart moves you can make in today’s digital era. Business Setup Worldwide has been helping numerous business minds to nurture their business ideas into reality. Our business advisors are well-versed with the core offshore business setup process and can help you by providing tailored solutions, making us one of the top business consultants in Dubai. To incorporate your offshore company in Belize today, feel free to discuss the same with our experts. Contact us today-we’d be glad to assist!