Why are certain words not permitted in the name of the offshore company?

As in any country, using some words in company names is restricted or prohibited. The first group of those words are related to specifically licensed activities. If You want to refer the IBC name to activities like banking, insurance, re-insurance, trusts, registered agent services, asset management, You need to get a specific approval first. You can use the restricted-activity words, but only through a prior licensing procedure aimed at the particular activity. For instance, to use a "banking" word in the name of Your IBC, You would have to first apply for the banking license with the Central Bank of Belize. Not easy, but can be done.

The other group of restricted words are the ones that would misleadingly convey an official patronage or connection with the Republic of Belize or the government of Belize, as well as similar patronage of any other country or its government. The final word in approving all such sensitive names is with the Registry of Companies, who may permit the incorporation of an IBC under a "sensitive" name, if there is a good logical or business reason to do so.

The third group of restricted words is open-ended, and much at the discretion of the Registry of International Business Companies. Any obscene words or expressions will be refused. Names that allegedly copy or resemble too closely an existing business name will be refused. Quite simply, the name restrictions are there to protect the general public from being misinformed or misled.