Belize companies

Belize is a small country located on the Eastern Coast of Central America, with population of about 290 000 and English as the official language. It has started to develop its offshore sector after the enactment of the International Business Companies Act in 1990. In just 10 years, Belize has managed to incorporate more than 15 000 offshore companies. Currently Belize is quickly acquiring the reputation of popular and important offshore corporate vehicle. Belizean IBC offshore legislation is considered to be one of the most user-friendly and modern. It was supplemented in 1992, with the enactment of a Trusts Act which provided for the formation of both onshore and offshore trusts. The Offshore Banking Act was passed in 1996, providing for the development of Belize banking sector by establishing 2 categories of offshore banking licences. Belizean offshore legislation allows for incorporation of many types of business entities, including International Business Companies, Trust Funds, Limited Liability Partnerships, Trusts and Mutual Funds, etc. The most popular forms are Belizean IBC and Belizean Trust, used either separately or in combination. A Belizean International Business Company is quite a cost-effective vehicle, exempted from any forms of income tax, capital gains or transaction tax. Belize legislation also provides quick and simple one-day incorporation of an IBC. An IBC is allowed to conduct any business in any currency, without currency exchange control. One of the main advantages of Belizean IBC are competitive incorporation prices and annual fees, which in Belize make only USD 100, while the equivalent fee in the Bvi is USD 300. The most popular uses of Belizean IBC's are establishing securities trading accounts, holding title to real estate in other jurisdictions, collecting commissions and dividends and re-invoicing trade transactions. Currently Belize ensures its strategy to develop a reputable offshore services and banking sector by constant improving its offshore legislation and offering the full range of investment tools and offshore schemes that include IBC legislation, modern trusts law, free zone array and investment incentive schemes.

See also BVI companies