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Understand the Jurisdictions Setup Requirement Before Proceed Your Belize Company Incorporation Services
Located in Central America, Belize offers more than wonderful scuba diving experience but loads of advantages for incorporation, as well as foreign investment. In fact, Belize is becoming one of the favoured destinations for foreign investors and international companies. If you are planning to incorporate offshore, Belize is for sure one of the top picks.
Company Incorporation in Belize
Belize is fast becoming one of the favourite investment spots in Central America. While many investors are setting up their business in the country due to the country’s competitiveness in international business, many people see Belize as one of the best places to gain their foothold to enter the regional market.
1. What are the types of business available in Belize?
The following are the common business types in Belize:
- International Business Companies,
- Trust Funds,
- Private Companies,
- Limited Liability Partnership,
- Limited Life Companies,
- Public Investment Companies,
- Joint Ventures and Cooperatives,
- Sole Proprietor
Among the available business types, the International Business Company (IBC) is the popular type of incorporation in Belize. The International Business Company (IBC) has the similar features as the Limited Liability Company.
In Belize, all IBCs (that have been incorporated under the Belize International Companies Act) will be exempted from taxation. An IBC is commonly used for asset protection, offshore banking, international trade, as well as investment. Furthermore, the confidentiality and privacy are of director’s details are well protected from public access- the name list of company directors and shareholders are kept from public viewing.
2. The basic requirements to incorporate a company in Belize
- A minimum of one shareholder, one Director (they may be both individuals and legal entities) is required,
- The company must provide a registered address, together with the registered agent in Belize,
- The Director and shareholder can be of any nationality.
3. Steps to incorporate a company in Belize
- a. Documents needed for the company incorporation
- Your company name (please refer to (b) below)
- Details of the directors (Name and address)
- Details of the of the shareholders (Name and address)
- Business plan (proposed business activities)
- b. Business name registration
- Name your business as what you would do for every business.
- Run a name check with the Belize Companies Registry to see if the proposed name is valid.
- Proceed with the business name registration at the Belize Companies Registry where you can easily get it approved in 3 hours
- c. Company incorporation
- Memorandum of Association and the Articles of Association must be in place
- The abovementioned documents have to be submitted to the Belize Companies Registry together with the formation fee (which is determined according to the quantity of share capital).
- Applicant will get a Certificate of Incorporation in 3 hours.
- The appointment of director and shareholders must be carried out upon the issuance of the Certificate of Incorporation.
- The company is successfully incorporated once you obtain the Certificate of Incorporation.
On top of all the key advantages, the fast processing time in company incorporation (it usually takes around two business days for offshore company incorporation) is also the COG that increases the competitiveness of Belize. If you are exploring the business opportunity in Central America, Belize has lots to offer. Contact 3E Accounting for more information.