The IBC (International Business Company) Registry in Belize is fully computerized and modernized and can accomplish company incorporation within less than one hour. A foreign company also has the option to continue under the law of Belize as an IBC and would still have all the benefits provided by law. IBC’s incorporated in Belize are often used by high net worth individuals to lease and own property, estate planning, tax optimization and also in conjunction with trust and by international companies in cross border transactions.

Belize law was specially designed to be cost saving. The Belize law ensures to maintain the registration fees competitive alongside the other offshore jurisdictions. The license fee for a standard company having an authorized share capital of US$50,000 having par value is US$100.00. The registered agent/office fee is about US$300.00 along with a one-time setup fee of roughly US$400.00.

Below are the most attractive features of IBC:

1. Flexibility: Only one director and one shareholder are necessary and it may have bearer shares or registered shares, voting or non-voting shares as well as the authorized share capital may or may not have a par value.
2. Confidentiality: Belize’s law has provided provisions to make certain that the freedom of the individual and the sanctity of private commercial transactions are available. To register a company in Belize proper due diligence is carried out by the registered agents in compliance with The Money Laundering Act and Code of Conduct in Belize.
3. Geographical position: Belize is just 2 hours flight from Miami, Houston, Dallas Atlanta, Charlestown South Carolina, New Orleans and Los Angeles which makes it very convenient and favored destination for US citizens.
4. Language: Belize being formerly a British colony, English is a widely spoken, official language in Belize.
5. Government: Belize government has supported development by means of a mixed economy. Belize benefits from a number of preferential market access arrangements particularly with the US, Canada, and the European Economic Community through its British links.
6. Currency: The currency here is the Belize dollar which is pegged to the US dollar of a rate of BZ$2.00 to US$1.00.
7. Asset protection: Prime advantage of Belize’s Trust law is it allows the legal ownership of property to be distinguished and separately vested from the enforceable rights of use and enjoyment of that property.

Belize shares a land border with Mexico and Guatemala with Caribbean sea to its east. Belize is a 2 hours flight from major American cities such as Miami, Houston and New Orleans. Belize is culturally diverse and the population is a various mix of Mestizo, Americans, Europeans, Chinese, Middle easterns and East Indians.

The climate is sub-tropical with an average temperature of 80F.

Government
Belize has a long history of peace, stability and democracy. Belize achieved independence in 1981. The country is a member of British Commonwealth, the United Nations and the Non Aligned-Movement. The political system is based on the British Westminister model with Queen Elizabeth II being represented by a Belizean Governor General.

Currency and Banking
The local currency is Belizean Dollar with exchange rate BZ $2.00 = US $1.00.

Language
Belize has two widely spoken languages – English and Spanish. Belize literacy rate is 90%.

In conclusion, Belize’s geographical location, convenient time zone, political and economic stability, common law legal system, education, competent and accessible professionals, English speaking work force, up-to-date modern electronic communications and tax advantages makes doing business in Belize easy, convenient, affordable and professional.

Setting up an offshore company is easy and convenient with more and more people intending to set up their own offshore company to start doing business. Hereunder are some tips and hints which are intended to help you avoid some common mistakes and take advantage from offshore company incorporation.

There are several advantages of an offshore company –

1)      Tax

2)      Asset protection

3)      Flexible business law

4)      Lawsuit protection

5)      Privacy

Below is some basic guidance that will help you to make the most of an offshore company –

a. Planning:

For a successful formation of an offshore company, planning is critical. This includes issues of legal, financial and tax aspects of the company and business. When planning an offshore company, the following factors need consideration:

- Identification of a corporate bank account to facilitate international trade in efficient way.

- Exploring proper location and avenues for offshore company formation that has a minimum reporting requirement.

- Checking the minimum capital requirement, in case the company is required to register for taxes such as VAT.

- Checking the taxes and exemptions allowed by various jurisdictions

- Checking the maximum and minimum number of directors and shareholders allowed in a jurisdiction should be ascertained.

- Consider asset protection. When looking for an offshore company incorporation under a jurisdiction, consider ways to manage all the assets and business transactions in a way that they are always protected from any kind of liability.

b. Location

Once the necessary considerations are made, the next important step is to select the location of your offshore company. Simplicity of operation is also a major consideration. Always consider a location that has minimum reporting requirements.

c. Asset Protection

It greatly depends on the chosen jurisdiction, how efficiently you can manage all the assets and business transactions to protect them from any kind of liability. Asset protection should be the prime consideration when looking for offshore company incorporation.

Belize for offshore company formation:

Belize is one of the most popular tax haven that offers attractive features like – reduced taxation liability, operation simplicity, general asset protection and many such features as listed below -

• Competitive prices for incorporation and annual fees for a Belize IBC;
• The incorporation process for Belize Offshore companies will not take longer that 3 working days;
• A Belize offshore company is exempted from all taxes;
• IBC standard share capital is USD $50,000;
• Standard share capital in excess of USD $50,000, may be declared in exchange for a higher annual fee;
• The names of the shareholders and directors for offshore Belize are not a part of the public record;
• The bearer share is allowed for offshore Belize;
• Minimum of one director and shareholder required for Belize incorporation;
• To incorporate in Belize, the director(s) and the shareholder(s) can be physical person or a company;
• The director and the shareholder can be the same person;
• There is no requirement to appoint a local or any secretary for Belize companies;
• The first director of the company is appointed at the organizational meeting of the Belize corporation;
• For Belize corporations, there is no requirements to file any accounts or to provide annual audits reports;
• The register of shares has to be kept and up to date;
• A registered agent and a registered office are required;
• Annual fees are due to be paid by the 31st of July, starting from the second year of incorporation and each subsequent year thereafter;
• The Belize IBC cannot derive any income from activities in Belize;
• The word “Limited”, “Corporation”, “Incorporation”, “Societe Anonyme”, “Sociedad Auonima”, or abbreviations thereof “Ltd.”, “Corp.”, “Inc.”, “S.A.”, “AG” has to be used as a corporate suffix of the company.

This blog offers information on offshore laws, company formation, banking and other services in Belize. Keep checking for regular updates