There are several reasons why Belize emerged as a popular place for people worldwide to form offshore corporations. Some of these reasons include the following:
Fast and easy incorporation. In Belize, you have the opportunity to incorporate on the same day, paying minimal start-up fees and low-cost annual fees. Unlike many other jurisdictions, that may require tens of thousands of dollars to capitalize the company before it can be formed, there is not any need to capitalize a company in Belize.
Your corporation (limited company) needs to provide only one director and one shareholder. These people can be either individuals or corporate entities and may reside anywhere in the world.
In Belize, you are not required to select a local director or secretary.
To file your corporate documents, you do not need to make a trip to Belize. Documents can be filed for you and then mailed to you or forwarded to you electronically.
Belize, according to the International Business Company (IBC) Act of 1990, allows all corporations to be exempt from both stamp duty payments as well as taxation on any income the company earns.
Belize also does not withhold taxation on interests, rent, royalties, compensation, or anything else that might be an expense of a Belize IBC.
There is no requirement for a capital gains tax in Belize, no matter how the gains were earned.
Belize provides freedom of movement of various financial currencies for corporations as well since there are also no exchange control restrictions.
Belize provides its corporations with a significant level of confidentiality. For example, a corporation can nominate directors and shareholders, and the information about these chosen people or business entities remains private.
Belize business incorporation also offers a high level of asset protection. By law, corporations provide a shield against any asset confiscation by any country’s courts.
To establish a Belize corporation, the necessary documentation is easy to complete. The corporation is only required to provide the name of the registered agent and his or her address in addition to the company’s memorandum and articles of association.
Also, if your corporation experiences a shift and the names of directors and shareholders change, you are not required to file this information with the registrar.
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