Jurisdictions
Regions
Industry Sectors
Fact File
- General
- Tax
- Share Capital
- Type of Entity
- Directors
- Shareholders
- Accounts
- Legislative Update 2023/24
- Other
Fact File Supplied By
Moore Belize LLP
Time Zone
Central Time Zone.
Population
340,792.
Capital
Belmopan City.
Airport (s)
Phillip SW Goldson International Airport.
Language
English, Creole, Spanish.
Currency
Belize dollar (BZ$). Tied at fixed rate to the US dollar (BZD$=US$1)
Political System
Democratic.
International Dialling Code
+501.
Legal System
English common law.
Centre's Expertise
International business companies (IBCs), international trusts, mutual fund administration and management, international banking. Trading in securities and foreign exchange; international money lending, international foundations, ship registration, international LLCs.
Personal Income Tax
None for international financial services.
Corporate Income Tax
This has been changed due to economic substance rules. All IBCs whether they pay tax have to apply for a tax identification number (TIN). The paying of tax depends on "from where the Company undertakes its activities".
Exchange Restrictions
None for offshore activities.
Permitted Currencies
Any currency.
Minimum Authorised Capital
US$1.
Minimum Share Issue
US$1.
Shelf Companies
Permitted.
Timescale for New Entities
24 hours.
Incorporation Fees
US$100 if capital is 50,000 or less; US$1,000 if authorised capital exceeds 50,000.
Annual Fees
US$150 for Share Capital 50k and over 50k remains at US$1,000.
Minimum Number
One.
Residency Requirements
None.
Corporate Directors
Permitted.
Meetings/Frequency
Subject to memorandum and articles.
Disclosure
Not at the Registry but must be disclosed to the local registered agent.
Bearer Shares
Not permitted.
Minimum Number
One.
Public Share Registry
No.
Meetings/Frequency
As desired by directors or members.
Annual Return
No annual returns for IBCs but annual tax returns are required, even if the IBC is not taxable. Details of financial activities have to be maintained at the Registered Office.
Audit Requirements
No audit requirements for IBCs.
Recent Legislation
• Customs and Excise Amendment, Act 2023
• Fiscal Incentives Act, 2023
• Credit Reporting Act, 2023
• Notaries Public Act, 2023
• Financial Services Commission Act, 2023
• Caribbean Community (Free Movement of Skilled Persons) (Amendment) Act, 2023
• Retired Persons (Incentives) (Amendment) Act, 2023
• Non-Profit Organisations Act, 2023
• Central Bank of Belize (Amendment) Act, 2023
• Moneylenders (Amendment) Act, 2023
• International Banking (Amendment) Act, 2023
• Domestic Banks and Financial Institutions (Amendment) Act, 2023
• Law Revision (Amendment) Act, 2023
• Financial Intelligence Unit (Amendment) Act, 2023
• Belize Companies (Amendment) Act, 2023
• Money Laundering and Terrorism (Prevention) (Amendment) Act, 2023
• International Limited Liability Company Act, 2023
• Insurance Act, 2023
• Civil Asset Recovery and Unexplained Wealth Act, 2023
• International Banking (Amendment) (No. 2) Act, 2023
• Domestic Banks and Financial Institutions (Amendment) (No. 2) Act, 2023
• Limited Liability Partnership (Amendment) Act, 2023
Pending Legislation
• Trusts (Amendment) Bill, 2023 – pending to be tabled at Cabinet
Registered Office
Yes.
Domicile Issues
Continuation of IBCs and LLCs to Belize.
Company Naming Restrictions
Under the Act no company shall be incorporated under a name that contains the words 'assurance', 'bank', 'building society', 'trusts', 'chamber of commerce', 'insurance', 'municipal', 'royal', 'fund', 'investment management'.
