What Can You Do with an Offshore Company in Belize?
Company formation in Belize offers a lot of potential uses. For example, it can be used for offshore banking, offshore investments or as a holding company. In addition to this, it can also be used to hold assets and protect them from a variety of external factors. Entrepreneurs also use Belize companies to provide services internationally, thus enjoying the tax-exempt legal status of the entity.
Background & General Outline
Belize (formerly British Honduras) is a scenically beautiful country on the Caribbean seaboard of Central America. It has an area of 23,026 sq km and is bordered by Mexico and Guatemala.
Although it´s administrative capital is Belmopan, Belize City is the major commercial centre.
The official language of Belize is English but Spanish, Chinese, German, and a number of indigenous languages are widely spoken. The official currency is the Belize Dollar.
Belize is a member of the Caribbean Community, the Community of Latin America and the Caribbean States, the Central American Integration System, and the British Commonwealth.
Political Structure & Legal System
Belize is stable, peaceful and democratic. It became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. Executive authority is exercised by the Cabinet under the leadership of the Prime Minister. This is subject to approval by a 28 member Senate with the majority appointed on the recommendation of the Prime Minister.
The legal system is Common Law which is based on English Company Law. These rules regulate company formation in Belize.
Name Restrictions for Company Formation in Belize
If you opt for company formation in Belize, you need to be aware of name restrictions. Firstly, the company cannot have a name that’s already been incorporated or is similar to an existing Belize offshore company. It is also prohibited to use a name that is undesirable, obscene, or offensive. You can’t use names that include the words “royal” or “imperial”, or any that would suggest the patronage of the Belize government. The authorities allow names to be in any language, including those that use a non-Latin alphabet.
A company that has been incorporated in Belize is not allowed to own real estate in the country or trade locally. It is also forbidden from undertaking activities in banking, insurance, assurance, or reinsurance.
Taxation in Belize
The Belize government doesn’t require that tax is paid by a Belize offshore company on profits generated outside of the country.
Double Taxation Treaties
Belize is a party to a number of double taxation treaties. These include the UK, Denmark, Sweden, and countries that are members of the Caribbean Community (CARICOM). It also signed tax agreements with a number of states in 2010 to help with removal from the OECD grey list. Those that entered into tax information exchange agreements include France, Ireland, Poland, Mexico, and Norway.
Accounting & Financial Statements
There is no formal requirement for an offshore company in Belize to keep any audited files. It is however required to keep financial records that reflect the financial standing of the company. These records can be kept and maintained anywhere in the world.
Disclosure of Beneficial Owner
When you opt for company formation in Belize, you must maintain and submit the details of the beneficial owners to the authorities. This information, however, is kept strictly confidential and is not made public in any way or at any time.
Capitalization Requirements for an Offshore Company in Belize
The standard capitalization requirements for an offshore company in Belize is a value of $50,000. This is then divided into shares of equal value. There is not however a requirement for a minimum paid-up capital.
There are no exchange control restrictions for an offshore company in Belize.
How Much Does Company Formation in Belize Cost?
Get your Offshore Company in Belize for as little as $1,100 with our Formation Package. You can also benefit from our special renewal package and additional optional services. To get full price details, related documents and services click on the button below:
Contact Us for Company Formation in Belize
Company incorporation in Belize is popular due to the zero rate of tax on profits generated outside of the country. This combined with the high level of privacy and the relative ease of establishing an entity there makes it a popular choice for entrepreneurs or those wishing to securely hold assets. Contact us today to get your offshore company registered in Belize.
More Locations to Incorporate Your Company
Not sure about Belize? No problem! There are several other locations to consider. Select any of the countries below to learn more: