Belize International Business Company
An International Business Company (IBC) is set up under the International Business Company Act 1990.
For purposes of International Business Companies Act, an International Business Company is a company that does not:
- carry on business with persons resident in Belize;
- own an interest in real property situated in Belize, other than for use as an office from which to communicate with members or where books and records of the company are prepared or maintained;
- carry on banking business unless it is licensed under an enactment authorising it to carry on such business;
- carry on business as an insurance or a reinsurance company, insurance agent or insurance broker, unless it is licensed under an enactment authorising it to carry on such business;
- carry on the business of providing the registered office for companies;
- carry on trust business, unless it is licensed under an enactment authorising it to carry on such business;
- carry on collective investment schemes, unless it is licensed under an enactment authorising it to carry on such business;
- hold shares, stock, debt obligations or other securities in a company incorporated under the Companies Act or under any enactment amending or substituting the said Act;
- subject to subsection 4 of the Act, issue its shares, stock, debt obligations or other securities to any person resident in Belize or to any company incorporated under the Companies Act or under any enactment amending or substituting the said Act.
Belize International Business Company shall not be treated as carrying on business with persons resident in Belize by reason only that:
- it makes or maintains deposits with a company incorporated in Belize and carrying on banking business within Belize;
- it makes or maintains professional contact with solicitors, barristers, accountants, bookkeepers, trust companies, administration companies, investment advisers or other similar persons carrying on business within Belize;
- it prepares or maintains books and records within Belize;
- it holds, within Belize, meetings of its directors or members;
- it holds a lease of property for use as an office from which to communicate with members or where books and records of the company are prepared or maintained;
- it owns a vessel or vessels registered in Belize in accordance with the Registration of Merchant Ships Act.
Any Belizean IBC is exempted from any form of income tax, capital gains or transaction tax. An IBC can conduct its business in any chosen currency.
Among the many uses of IBC´s are the following ones:
- establishing securities trading accounts in the USA, Europe and Canada, either directly or through Belizean intermediaries;
- holding title to real estate in other jurisdictions;
- collecting commissions, royalties or dividends or re-invoicing trade transactions.
A Belize IBC is often incorporated by trusts established under Belize law as an asset-holding device for the trust. This allows the trust to withhold details about its existence and beneficiaries from third parties dealing with the IBC.
A Belizean IBC is quite a cost-effective vehicle. Also, Belize´s legislation facilitates quick and simple incorporation. Belize has a modern and computerized IBC Registry that can incorporate a company in just one hour.
Belize IBC name abbreviations: "Limited", "Corporation", "Incorporated", "Society Anonyme" or "Sociedad Anonima" or "Aktiengesellschaft" or the abbreviation "Ltd.", "Corp." "Inc." or "S.A." or "A.S." or "A.G." must be part of the name of every company incorporated under Belize International Business Companies Act, but a company may use and may be legally designated by either the full or the abbreviated form.