Belize

General Information on Belize
Belize Company

General Information on Belize:

About Belize:

Belize, formerly British Honduras, is situated on the Southern shore of the Caribbean. Its administrative capital is Belmopan, but the major commercial centre is Belize City. Its total population is around 200,000 and most of it is ethnically diverse. Belize, once a British colony, achieved independence in 1981. It is a member of the British Commonwealth, the UN and the Non-Aligned movement.

Legal system in Belize:

Independent legal system based on English Common Law.

Infrastructure in Belize:

Belize has a major international airport on the eastern coast.

Belize Economy:

Belize's main income is mainly derived from exports in sugar, bananas, citrus fruit, fishery products, timber, with the incorporation of International Business Companies becoming a very important source of income.

Currency in Belize:

The Belize Dollar (BZD)

Language in Belize:

English is the official language

Time Zone:

(GMT -06:00)

Belize Company:

Types of a Belize Company:

International Business Company

Company Law in Belize:

The International Business Companies Act was introduced in 1990 in Belize and subsequently amended to reflect the changes required to the International Business Companies (Amendment) Act, 1995.

Capital requirement of a Belize company:

Minimum paid up capital - 1 share of par value or no par value.
Usual authorized share capital - US $50,000 in shares of par value or no par value.
Classes of shares: Regular shares, bearer shares, shares of no par value, preference shares, redeemable shares, shares with or without voting rights in any recognizable currency.

Restrictions on activity of a Belize company:

IBCs are not allowed to undertake business in banking, insurance, assurance or reinsurance, unless special consent or license is given. IBCs should trade outside Belize and not own real estate there.

Taxation of a Belize company:

NIL

Double Tax Treaties between Belize & other countries:

No double tax treaties

Annual Returns of a Belize company:

Not required.

Annual License Fee in a Belize company:

$100 for authorized capital of up to US$50.000.
$1.000 for authorized capital of over US$50.000.

Annual Financial Reporting of a Belize company:

Not required.

Registered Office & Registered Agent in Belize:

A Registered Office and a Registered Agent must be maintained in Belize.

Company Secretary in a Belize company:

Optional, but a secretary is normally appointed.

Directors in a Belize company:

Minimum of one. Can be of any nationality and residence and can be a physical person or a corporate entity.

Shareholders in a Belize company:

Minimum of one

Disclosure of Beneficial Ownership in a Belize company:

Disclosure of directors in a Belize company:

Not in any public record.

Bearer shares in a Belize company:

Yes

Exchange controls in a Belize company:

None

Language of Name in a Belize company:

Can be incorporated using any language.

Name restrictions in a Belize company:

Any name which the Registrar considers undesirable, obscene or offensive and names such as royal or imperial, or which suggests the patronage of Belize government.