Belize IBC
The Belize Standard IBC, which has a share capital of up to USD50,000, is the least expensive stand alone IBC Capital Conservator offers. The principal advantage of a Belize Company (IBC) is that you can form one quickly and with a minimum of fuss. Neither shareholders nor directors are publicly listed or named at the time of incorporation.
Many investors use a Belize company to trade securities, hold real estate or to collect royalties and dividends. Belize Companies are also used to hold assets or conduct business on behalf of a trust – which allows details of the trust’s existence and beneficiaries to be withheld from third parties.
Formation
An International Business Company (IBC) is formed under the International Business Company Act 1990.
The requirements for setting up a Belize IBC are minimal. Furthermore as an individual it is fairly straightforward to set one up yourself, because the company requires only one shareholder and one director.
- There is a minimum of one director, who can be an individual or a company
- Shareholders can be an individual, company or Trust
- Nominee shareholders are allowed. Capital Conservator can provide nominee shareholders for an additional fee.
- The company must have a local registered agent and office. The name and address of the office and agent are the only details on public record.
- There is no minimum paid up capital requirement. Capital may be expressed in a foreign currency.
- There are no requirements for an IBC to file details related to shareholders or directors or for the filing of audits or accounting reports
- No meetings are required of directors or members.
- Bearer shares are allowed but these must be held in Belize by the local registered agent.
- Foreign companies can re-domicile in Belize and vice versa.
- Corporate documents may be filed in English, Spanish, or Chinese.
Privacy
The documents for Belize offshore Incorporation do not carry the name or identity of any shareholder or director. The names or identities of these persons do not appear in any public record. Furthermore nominee shareholders are allowed if additional privacy is desired.
Belize has very strong Bank secrecy laws. However, these do not extend to activities that are considered crimes in Belize such as drug smuggling, theft or fraud.
There is no Tax treaty between US and Belize although there is an exchange of information agreement in certain tax cases.
Taxes
Belizean IBCs are specifically exempted from any form of income tax, capital gains or exchange controls. Any IBC can conduct its business in any foreign currency it may choose free of the Belizean government regulation or restriction.
Restrictions
An IBC may not:
- Carry on business with persons resident in Belize;
- Own real estate in Belize, except lease property for office purposes;
- Carry on banking or insurance/re-insurance business without a license.
- Provide registered agents/offices for companies.
Belize IBCs with “no par value” shares, or share capital greater than USD50,000 are substantially more expensive to form and maintain.
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