Company Law
IBCs are governed by the International Business Companies Act Chapter 270 of the Laws of Belize. Domestic companies are governed by the Companies Act (Chapter 250) of the laws of Belize as amended.

Types of companies in Belize
International Business Company. Limited Duration Company. Domestic Company. Limited Liability Partnership. IBCs are preferred for international transactions. A domestic company is limited by guarantee.

Capital requirements
No paid-up capital requirements.

Costs to incorporate, excluding government fees
Approximately US$600. Fees vary depending on registered agent.

Fees paid to authorities to incorporate a company in Belize
US$100 for IBCs and LDCs with authorised capital of US$50,000 or less. US$1,000 for companies with authorised capital exceeding US$50,000.

Annual fees paid to authorities
US$100 for IBCs and LDCs with authorised capital of US$50,000 or less. US$1,000 for companies with authorised capital exceeding US$50,000.

Taxation rates applied to companies generally
IBCs and LDCs are not subject to local taxation.

Method of incorporation 
By filing memorandum and Articles of Assosiation, together with the relevant fee to the International Business Companies Registry.

Who may incorporate a company in Belize?
All incorporations must be arranged through a local registered agent. Subscribers may be personal or corporate. Nominee shareholding is also permissible through services of local registered agents.

Are ready made/shelf companies available?
Yes.

How long does it take to incorporate a company in Belize?
For IBCs and LDCs, approximately 24 hours.

What is the minimum number of members?
IBCs and LDCs must have at least one member.

What is the minimum number of directors for a company in Belize?
IBCs and LDCs must have a minimum of one director, who may be an individual or a corporation. A secretary is not mandatory.

Must there be a resident Director or Secretary?
No.

Are corporate directors allowed?
Yes.

Is a local registered agent required?
IBCs and LDCs must have a registered office and registered agent in Belize.

Are 'shadow' directors required to be registered?
There is no requirement for filing directors/shareholders information.

What is the amount payable to appointee Directors/Secretary?
Approximately US$500 annually for director/secretary.

Are annual meetings required?
For IBCs and LDCs the directors may convene meetings of the members of the company at such times and in such manner and places within or outside Belize as they consider necessary or desirable.

Is an annual return filed with the details of the Directors and Members?
IBCs do not need to file Annual Returns.

Must financial statements of a company in Belize be audited?
No.

Are annual accounts filed with annual returns?
Not for IBCs or LDCs.

Are there any exchange controls or other financial restraints?
For IBCs and LDCs , no. For domestic companies, yes.

Is the migration of companies permitted?
Migration into and out of the jurisdiction is allowed for IBCs. Filing of articles of continuation, accompanied by a copy of the Memorandum and Articles of the company, or their equivalent, written in English or, if written in another language, accompanied by a certified English translation. In the case of a foreign company evidence satisfactory to the Registrar that the company is in good standing must be submitted to the Registrar who must retain and register it in the Register.

Must foreign companies administered locally be registered?
No.

Are protected cell companies permitted?
Yes.

Are civil law type foundations possible?
There is no Foundation law in Belize as yet.

Are common law foundations (limited by guarantee, or limited by guaranteed and having shares) possible?
There is no Foundation law in Belize as yet.

Can LLCs be formed in Belize?
Yes.

Have there been any amedments to company law within the last 12 months?
No.

Are there any anticipated amendments to company law expected in 2010?
None at this time.