In Belize, like in every other country, the business documents definitely need to be certified. A Notary or a government employee like the Chief registrar of companies can certify legal documents. (A public notary is an office constituted by law to serve the public for non-contentious issues concerned with powers of attorney, deeds, estates, foreign and international business).
This particular certificate issued by the registrar of companies is only legal and binding within the country in question. There is however, a way that a legal document from this or any other country can be made internationally acceptable. This is through the Apostille legislation that was enacted at The Hague on 5 October 1961. This legislation states that the present convention shall apply to public documents that have been executed in the territory of one contracting state and which have been produced in the territory of another. These include administrative documents, notary’s acts and any documents emanating from an official connected to the courts, tribunals or the state.
This means that the signature of a different official who is independent and holds higher office certifies the signature of the official in the initial certification. A different government office, foreign office or the Supreme Court within the country where the initial certification was done usually does this. The certification stamp or sticker that is consequently issued is what is referred to as the Apostille. This document is now deemed acceptable in the member countries like Barbados, Lesotho, and Kazakhstan. This type of legislation is required in Belize for the following reasons: firstly to open an off shore bank account. This is necessary in business transactions regardless of location. To open and operate a securities account for the organization. Thirdly, this legislation is required in case the need to register a branch or joint venture that involves the company arises. Finally, it is needed to enter any transactions as far as the international Belize Company to be opened is concerned.
Certification of one full copy of the company’s corporate documents is standard practice for ease of doing business. Additional copies can be produced on demand. (A useful tip: it is advisable to Apostille-certify the original certificate of incorporation).
Once all the company requirements have been met, the company is then incorporated within 24 hours. Any additional certificates take 1 or 2 days to be sorted out on behalf of the company. The company can now go ahead and register for business tax at the income tax department. The business must register with the general services tax authorities before it can begin to conduct business. The relevant certificate of compliance has to be presented before the business is registered. This takes 10 days at a cost of 150 Belizean dollars. If the registration takes longer than this to be completed the company can go ahead and begin conducting business. Taxes for this period must still be submitted to avoid tax evasion penalties or interest charges that are usually punitive to say the least.
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