When it comes to offshore business registration, Belize is among the world’s top destinations. It stands out from other countries with its multiple benefits. A small state in Central America where people speak English and Spanish, Belize has excellent roads, buildings, and other facilities that make it easy to register offshore companies and open bank accounts. In Belize, you can also incorporate your future company online. If you want to save on taxes and do business in North and South America, a company set up in Belize is a beneficial opportunity. As a bonus, the jurisdiction is known as a reliable place to protect your assets.
Belize’s Edge in Corporate Appeal
An attractive destination for businesses, Belize stands out thanks to its highly favorable tax environment that allows companies to optimize their tax liabilities. The country goes the extra mile by imposing no taxes on income, capital gains, or dividends for foreign companies. This absence of financial burdens contributes significantly to the appeal of Belize as a hub for businesses, providing them with a strategic advantage in terms of financial planning and overall profitability.
Adding to its allure, Belize has enacted strong privacy legislation to safeguard the identities of company owners and shareholders. Under the Belize Companies Act, Belize ensures confidentiality by not mandating the disclosure of beneficial ownership to the public. The result is an environment that prioritizes privacy and discretion, making it an ideal setting for businesses that value confidentiality in their operations.
In addition to its tax and privacy advantages, Belize boasts a stable political climate, which is a crucial factor for the success and sustainability of businesses. The government of Belize has a track record of actively promoting foreign investment, creating an environment that fosters economic growth. Furthermore, Belize’s commitment to political neutrality positions it as an ideal location for businesses across various sectors, which is a stable foundation for long-term success.
It is not only for its favorable tax policies and privacy regulations but also for its flexibility in corporate structuring that Belize is an important jurisdiction when it comes to company incorporation. It allows entrepreneurs to tailor their companies to suit specific needs, thanks to the provisions outlined in the Belize Companies Act of 2022. The above law permits the formation of various types of companies, offering entrepreneurs the choice between companies limited by shares or guarantee as well as unlimited companies. This flexibility ensures that businesses can adopt structures that align with their unique objectives and operational requirements.
Types of companies under Belize Companies Act 2022
According to the Belize Companies Act of 2022, which replaced the previous company laws, these are the three main types of companies you can incorporate in Belize as of 2024:
Company limited by shares: This is a company that has a share capital and limits the liability of its shareholders to the amount they have paid or agreed to pay for their shares.
Company limited by guarantee: The primary characteristics of the above business structure are that it does not have a share capital and limits the liability of its members to the amount they have agreed to contribute in case the company is wound up.
Unlimited company: With no share capital, unlimited companies set up in Belize also do not limit the liability of their members.
The Act also allows for the formation of special-purpose companies. Examples include segregated portfolio companies, private trust companies, and special-purpose vehicles.
Company incorporation in Belize: price tag
Incorporating a company in Belize comes with costs and fees that are essential for the registration, maintenance, and legal compliance of the business entity. For your convenience, the main ones are listed below:
Incorporation Fee: The first and foremost cost is the incorporation fee, a one-time payment made to the Belize Companies Registry for registering your company. The specific amount varies based on the type and capital of the company but typically falls within the range of USD 100 to USD 1,000. This fee covers the initial administrative procedures associated with establishing the legal entity.
Annual Fee: Companies in Belize are required to pay an annual fee to the Belize Companies Registry for the ongoing maintenance of their legal status. Similar to the incorporation fee, the annual fee varies depending on the type and capital of the company, with a usual range between USD 100 and USD 500. This recurring cost is essential to keep the company in good standing and compliant with regulatory requirements.
Stamp Duty: Stamp duty is a tax levied by the Belize Revenue Department for the stamping of company documents. This includes various legal and administrative papers associated with the business. The stamp duty amount is contingent on the type and capital of the company, typically falling between USD 5 and USD 50. This fee contributes to the legal validity of important documents related to the company’s operations.
Registered Agent Fee: Businesses in Belize are required to engage a registered agent. The latter is a licensed professional who provides legal and administrative services on behalf of the company. These services may include filing documents, receiving notices, and conducting due diligence. The registered agent fee varies based on the level and quality of service provided, usually ranging from USD 500 to USD 1,000 per year. Registered agents play a crucial role in ensuring the company’s compliance with legal and regulatory obligations.
Registered Office Fee: Every company in Belize must have a registered office where it keeps its records and receives official correspondence. The registered office fee is paid to cover the associated costs. It varies depending on the location and size of the office, typically falling within the range of USD 200 to USD 500 per annum. This expense ensures that the company has a dedicated and compliant address in Belize for official communications.
International Wealth pros will eagerly help you register a company remotely and open a bank account, either local or international. Besides, we assist our customers with setting up accounts with payment systems around the globe.
To learn more about the benefits of Belize for your business and to book a consultation with International Wealth, message us at our corporate email. Alternatively, feel free to use any other contact option that suits you.
