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.
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.
At the Biz Latin Hub, we have a team of local experts that can guide you through the entire process of establishing your offshore entity in Belize. If you have any questions or would like a free consultation please email Craig here.