Are you planning on incorporating a company abroad? Do you know how? Are you looking for a cost-effective, efficient process requiring minimal documentation? Then you should start thinking about Belize as a potential option.
Belize, a small Central American country offers a number of key advantages for incorporation, with the jurisdiction fast becoming the destination of choice for both companies and individuals looking to incorporate offshore. An offshore structure in Belize provides: zero company tax, ability to operate in either English or Spanish, using common law and with strong privacy Provisions.
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Key Advantages of Belize for Offshore Company Incorporation
A legal entity can be established in Belize by either a resident or a non-resident, without any local ownership restrictions and/or requirements, with the primary difference being that a non-resident owning a company must be approved by the Central Bank. Other key advantages of incorporation include:
- Full Incorporation completed within two weeks
- Relatively inexpensive set-up and annual renewal fees
- No minimum capital requirements
- Only one shareholder or director is required
- Your presence is not required in Belize for incorporation as a non-resident
Key Steps to Incorporate in Belize
- Conduct a name check with the Belize Companies Registry
- Complete a Memorandum and Article of Association (M&A) and submit this to the Registrar in Belmopan along with the formation fee.
- Approval is granted from Central Bank of Belize
- A Certificate of Incorporation will be issued by the registrar and it should be displayed at the registered office of the company.
- Upon receipt of the Certificate of Incorporation the first director may be appointed along with the shareholders.
- Once the company is formed, officers need to be appointed to run the business. These officers may be the directors.
- Issuance of a company seal from the relevant authorities
If you are a client of the Biz Latin Hub, at this point all of the original documents and the company seal will be mailed to your residential or chosen address.
Note: All local companies (NOT offshore) in Belize must be audited by an independent officer who has to check the books and certify the annual accounts. The Director and Secretary cannot act as the auditor.
Frequently asked questions when incorporating a company in Belize
According to our experience, these are the most common questions and doubts of our Clients when incorporating a company in Belize
Yes, foreigners can own and operate businesses in Belize.
Registering a company in Belize typically takes around 8-10 weeks, depending on the type of business entity and the completeness of the application.
“SRL” in Belize stands for “Sociedad de Responsabilidad Limitada,” which translates to a Limited Liability Company (LLC) in English. An SRL is a legal entity that offers limited liability to its members.
“Sociedad de Responsabilidad Limitada” (SRL) offers limited liability in Belize.
The main characteristics of an LLC in Belize typically include:
– Limited liability for its members.
– Flexibility in management structure.
– Pass-through taxation, where income is reported on the member’s individual tax returns.
– Simplicity in formation and maintenance.
– Ability to be used for various business purposes.
Biz Latin Hub can assist you in forming your company in Belize
At Biz Latin Hub, we provide integrated market entry and back office services throughout Latin America and the Caribbean, with offices in more than a dozen countries around the region and trusted partners in other markets where we don’t currently have a presence.
Our unrivaled reach around the region means that we are ideal partners to support multi-jurisdiction market entries and cross border operations.
Our portfolio of services includes company formation, accounting & taxation, legal services, due diligence, and hiring & PEO, among others. So whatever your investment plans are, we can provide a package of services to suit your needs.
Contact us to find out more about how we can support you doing business.
If you found this article on doing business in Belize of interest, check out the rest of our coverage of Central America. Or read about our team and expert authors.
The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
