Belize Offshore Company
Belize became a British crown colony in 1862 and became independent in 1981. Belize is now a parliamentary democracy. The Government of Belize is fully committed to the continued development of Belize as a leading offshore jurisdiction for the incorporation of offshore companies. Through regular consultation with the private sector, the government ensures that its policies and legislation continue to meet the needs and interests of the international financial community in an environment that builds trust.
The Belize International Business Company (IBC) is the most popular form of offshore corporate structure. An IBC is formed under the International Business Companies Act of 1990 and is generally required to conduct its business and commercial activities outside of Belize. However, Belizean law also allows an IBC to carry out a number of activities within Belize. Belize offshore companies are used for a variety of tax planning and international investment purposes.
Belize (formerly British Honduras) is an independent country of great scenic beauty located on the Caribbean coast of Central America. Belize has an approximate area of 23,026 km2, and is bordered by Mexico to the north and Guatemala to the west and south. The administrative capital of Belize is Belmopan, but the main commercial center is Belize City, which is located on the east coast, near the main international airport.
The total population of Belize is around 300,000, of which about 60,000 live in Belize City. Belize’s population is ethnically diverse and includes descendants of the original Mayan culture and people of Caribbean, Caucasian, Chinese, and East Indian descent.
Belize has a long history of peace, stability and democracy. It became a British crown colony in 1862 and achieved full self-government in 1981. Belize is a member of the British Commonwealth, the United Nations, and the Non-Aligned Movement. In Belize, executive authority is exercised by the Cabinet under the leadership of the Prime Minister, subject to the approval of a 28-member Senate with a majority appointed on the recommendation of the Prime Minister. There are two main political parties; both parties are committed to the economic development of the country and the promotion of foreign investment.
Belize’s unspoiled environment with cays and barrier reefs make it a popular destination for ecotourists, while its clear, unpolluted waters are excellent for swimming, snorkeling, fishing, and other water sports. The country also offers a unique combination of virgin forests, caves, rivers, mountains, waterfalls and jungle, as well as a large number of Mayan archaeological sites. There are also forest reserves, wildlife sanctuaries, marine tourist areas, and the only jaguar reserve in the world.
The official language and the spoken language is English. The currency is the Belizean dollar (BZ$). The activities of offshore companies are exempt from exchange control. The legal system is based on the English Company Law.
main legislation
o International Business Companies Act, 2000.
o Limited Life Companies Act, 1999.
The main type of Company for International Trade and Investment is the Belize International Business Company (IBC) or the Belize Limited Life Company (LLC).
To incorporate a Belize company, the Registered Agent must submit the Memorandum of Association and Articles of Association to the Belize Registry along with the appropriate fee.
Restrictions apply to Belize Offshore Companies (IBCs): they cannot do business within Belize or own real estate there. They also cannot undertake the business of banking, insurance, insurance or reinsurance. An offshore company incorporated in Belize has the same powers as a natural person.