BELIZE
- IBC
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Principal Corporate Legislation
International Business Companies Act 2000. Limited Life Companies Act
1999.
Type of Law
Common Law based on English Common Law.
Type of company for International Trade and Investment
International Business Company (IBC). Limited Life Company (LLC).
Restrictions
on Trading
Cannot trade within Belize or own real estate there. Cannot undertake
the business of banking, insurance, assurance, reinsurance, fund management,
collective investment schemes, trust management, trusteeship, the rendering
of investment advice or any other activity that would suggest an association
with the banking or insurance industries. Cannot offer its shares for
sale to the public.
Powers
of Company
A Company incorporated in Belize has the same powers as a natural person.
Language
of Legislation and Corporate Documents
English.
Shelf
Companies Available
Yes.
Registered
Office Required
Yes, must be maintained in Belize at the address of a licensed management
company.
Time
to Incorporate
One day.
Name
Restrictions
Any name that has already been incorporated, or is so similar as to
cause confusion. Any name which in the opinion of the Registrar is considered
undesirable, obscene or offensive. Names such as royal or imperial and
any name that suggests the patronage of Belize Government.
Language
of Name
A Belize IBC can be incorporated using any language.
Names
Requiring Consent or License
Bank, building society, savings, loans, insurance, assurance, reinsurance,
trust, trustees, Chamber of Commerce, university, municipal or their
foreign language equivalents or any name in English or a foreign language
that may suggest association with the banking or insurance industries.
Suffixes
to Denote
Limited, Corporation, Incorporation, Société Anonyme, Sociedad Anónima,
Gesellschaft mit beschränkter Haftung or the relevant abbreviations
Disclosure
of Beneficial Ownership to Government Authorities
No.
Compliance
Authorized and Issued Share Capital
The usual authorized share capital is US$ 50,000 divided in to shares
with or without par value. The share capital may be expressed in any
currency. The minimum issued capital may be one share of no par value
or one share of par value.
Classes
of Shares Permitted
Registered shares, shares of no par value, preference shares, redeemable
shares and shares with or without voting rights.
Taxation
An International Business Company does not pay any tax on its world-wide
profits to Belize authorities.
License
Fee
Companies with an authorized capital up to US$ 50,000 pay the sum of
US$ 100 per year. Companies with a share capital over US$ 50,001 pay
the sum of US$ 1,000 per year.
Companies, which have some or all of their shares with no par value,
pay the sum of US$ 350 per year.
Directors
Minimum is one. Directors may be natural persons or bodies corporate
from any nationality and need not be Belize resident.
Company
Secretary
A company secretary is not a requirement under the Act, but a secretary
is normally appointed to facilitate signing obligations.
Shareholders
Minimum is one.
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