Venture Formation In Belize: Benefits & Key Features

Belize: Advantages for Doing Business

• Swift company registration. In Belize, the corporate body setup is expedited, typically completed within 4 to 5 working days, including obtaining a complete set of apostilled documents for opening a corporate bank account. Even without these documents, standard registration takes just 2 to 3 days.
• Reasonable annual fees. Most companies in Belize incur modest fees, typically USD 250 a year. In certain cases, the fee can be as low as USD 150. For legal entities with a capital more than USD 50,000 and all shares offered at nominal value, the fee is set at USD 1,000. This fee structure is more cost-effective in comparison with jurisdictions like the Bahamas and the BVI, where fees are higher.
• Complete legal autonomy. Belize ventures are recognized as fully-fledged corporate bodies, enjoying all corresponding rights and privileges.
• Top confidentiality. In the current climate of deoffshorization, Belize has adjusted its corporate legislation to align with international regulatory demands while maintaining a satisfactory level of privacy. Details of beneficial owners, directors, and shareholders are not recorded in the public register and are accessible solely to the incorporation agent. Corporate records are kept confidentially, with third parties only able to access information from the Memorandum and Articles of Association. These documents do not disclose personal data of the company’s personnel.
• Selective global cooperation. Belize has ratified international agreements related to tax cooperation, double taxation avoidance, and the automatic exchange of information (AEOI). However, the information exchange process is deliberately complex, with requesting persons required to substantiate the existence of taxable assets before any data is shared. Moreover, the scope of the information exchanged is strictly limited to what is requested.
• Efficient legal protection. Belizean companies benefit from strong legal protection in court. Before any assets located within Belize may be transferred or seized at the request of another country, a violation of the law must be established. Belizean courts often make a decision in favor of local businesses, presenting a challenge to external persons seeking asset transfer or seizure.
• Unrestricted registered capital. There are no limits on the sum of registered capital in Belize. Local corporate bodies may be set up with any specified sum in any currency.
• Adaptable corporate structure. By law, a local venture in Belize is required to have at least one shareholder and one director, with one person allowed to combine these positions. There is no obligation to conduct shareholder/director meetings in Belize, and proxy voting is allowed.
• Diverse share structures. A Belize undertaking enjoys virtually unrestricted options for issuing securities, including shares with no nominal value, except for the restriction on bearer shares.
• Streamlined management and storage of company documentation. You are not obliged to comply with any particular demands for management and storage of company documentation in Belize. While accounting records should be maintained, no stipulations regarding storage conditions are in effect. The incorporation agent should be aware of the place where these corporate documents are kept, though.

Incorporation of a Venture in Belize

• Accepted currencies: Transactions in Belize may be conducted using both USD and BZD (Belize Dollar).
• Official language: English serves as the official language of Belize, facilitating clear communication and legal documentation for businesses.
• Company setup: Belize has options for a new offshore entity formation or acquiring a pre-existing one, catering to diverse needs and preferences.
• Registry demands: The local company registry mandates the inclusion of director and shareholder details, foundational documents, meeting resolutions, and comprehensive accounting/financial records, ensuring transparency and compliance.
• Directorship: At least one director is required for offshore ventures in Belize, with no residency obligations.
• Secretary: Appointing a secretary, who is required to be an individual, is mandatory for offshore units in Belize.
• Shareholders: No less than one shareholder is required for offshore ventures in Belize, with no residency stipulations. Organizing general meetings is in no way obligatory, providing autonomy in shareholder interactions.
• Beneficiary privacy: Belize prioritizes beneficiary privacy, ensuring that beneficiary data remains confidential and protected from unauthorized access, safeguarding sensitive information.
• Capital: Belize imposes no specific requirements regarding the registered capital of offshore undertakings.

Conclusion