Belize IBC Characteristics
The main characteristics of a Belize IBC are as follows:
- Taxation: exemption from all taxes;
- Capital Duty: if the authorised capital is not more than USD 50 000 (or its equivalent in other currency), the fee is USD 100; if it is over USD 50 000, the fee is USD 1 000; if IBC has no par value shares, the fee is USD 350;
- Shareholders: a minimum of one shareholder, either an individual or a corporation, is required, either registered or with bearer shares; no requirements for an IBC to file details about shareholders, however, a register of shareholders must be kept at the registered office address in Belize;
- Bearer Shares: may be issued if held by a custodian; from July 1, 2001, bearer share certificates must be retained in safe-keeping by a licensed professional intermediary holding due diligence paperwork on the owner;
- Directors: a minimum of one director, either an individual or a corporation, is required. A minimum of one director is required and corporate directors are permitted; no requirements for an IBC to file details about directors;
- Time to incorporate: 1-2 days;
- Annual Reporting: annual accounts do not have to be filed; penalty fees of up to 50% of the annual licence fee are payable if the licence fee is not paid when due;
- Restrictions on Name & Activity: the words "Limited", "Corporation", "Incorporation", "Societe Anonyme", "Sociedad Auonima", or abbreviations "Ltd.", "Corp.", "Inc.", "S.A.", "AG" have to be used as a corporate suffix of the company. The words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal and Royal cannot be used.
- Local Requirements: A company must have a Registered Office address within Belize and a Registered Agent must be a Belize resident. We would normally provide these services as part of the service fee.
- Information on public file: Memorandum & Articles; Registered Office and Registered Agent.
- Documents kept at Registered Office: Register of Members; Directors; Minutes; Memorandum & Articles of Association.
- Corporate books and seal: usually kept at Registered Office.
- Location of meetings to be held: no restrictions.
- Double Tax treaties: UK, Sweden, Denmark and CARICOM countries.