International Business Corporation
Offshore entities in Belize may take the form of an International Business Corporation (IBC), a Trust and Offshore Bank. Licenses are required only for financial institutions. Corporations do not have to disclose beneficial ownership and Trusts need not disclose the names of their beneficiaries. The introduction in the early 1990’s of IBC legislation, together with a range of other offshore enabling laws, led to growth of interest in Belize as a low-tax jurisdiction. In addition to the IBC law, Belize has favorable legislation in place for Ship and Yacht Registration, Trusts, Offshore Banking and Online Gaming among others.
An is formed by filing Articles and Memorandum of Association along with the required fees. There is no minimum paid up capital requirements, and capital may be expressed in foreign currency. and a company may have nominee directors, shareholders using local licensed registered agents. There is a minimum of one director who can be an individual or a corporation and a secretary is not required. Each company must maintain a Registered Agent and a Local registered Office using licensed individuals or companies. The only information available to the public at the IBC registry is the Memorandum and Articles, Registered Agent and Certificate of Incorporation.
Further, there are no requirements for an IBC to file details related to shareholding or directors or for the filing of audits or accounting reports and there are for an IBC. Foreign companies may continue (re-domicile) as Belizean IBC’s and vice versa. Belizean IBC’s are specifically exempted from any form of income tax, capital gains or transaction tax. Any IBC can conduct its business in any foreign currency it may choose free of the Belizean government regulation or restriction.
Belize’s simple legislation facilities and its modern and computerized IBC Registry are capable of incorporating a company within one day. The fees for International Business Company formed in Belize are around 900$ plus courier and additional service if required.