Perfectly located in the beautiful Caribbean Sea only 2 hours from Cancun, Belize is an astounding destination for holidays and business ventures. With a population of 340 000, Belize has a lot to offer for investors, and the destination is renowned for its offshore opportunities. When it comes to business and trading, and in particular, offshore company formation and/or incorporation, Belize (and to a similar extent Panama), truly has an edge over many other countries.
Offshore structure advantages in Belize
There are vast range of business advantages that a company can achieve through the incorporation of an offshore structure in Belize. Some of these include:
- Strict privacy laws. Belizean corporate and business legislation provides for the highest level of client confidentiality. Belize does not disclose its banking or fiscal information under any information-exchange agreements to any foreign parties on reason of suspected tax evasion.
- Excellent communications. Belize can be easily accessed by sea and air from Central and North America.
- Zero tax. Zero company tax including: income tax, capital gain tax, dividend tax, and stamp duty and/or on the transfer of corporate shares or property.
- Initial capital. There are no initial capital requirments
- Initial and Annual Fees: Modest establishment and annual maintenance fees
- Bi-Lingual: Ability to operate in either English or Spanish.
- Shareholding: Only one shareholder is required, and only one director who could be a corporation, and need not be resident of Belize. There is no public filing of the information about shareholders, corporate directors, officers and beneficial owners.
- Limited Requirements: There is no requirement to file accounting, audited statements, annual filings or reporting. The requirement for public record of information is limited to certificate of incorporation, memorandum and articles of association, registered office and name and address of registered agent.
- Professional Banks: Local banks readily welcome international clients, with all of the normal banking functions that would be expected from a professional services sector. Accounts can be held in multiple currencies, but it is noteworthy that the local currency is linked to the US dollar at a fixed exchange rate.
Local Belizean Laws
Notes(s): Vide local laws, Belize offshore companies are allowed to:
- Lease properties inside Belize for use as a company’s office
- Hold company meetings with members, directors and/or shareholders either within or outside of Belize
- Manage and record business transactions with minimal constraints
Legislative changes during the 1990’s transformed Belize into a very attractive offshore location to incorporate a company; for individuals and/or companies considering forming an offshore company, Belize should be considered as a viable and attractive jurisdiction.