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Set in Central America on the eastern coastline, bordered by Mexico and Guatemala, Belize is the only country in Central America that has English as one of its official languages, the other being Spanish. A culturally diverse country, with a relatively low cost of living, Belize has more than seven languages including Spanish, Mayan, German, and Kriol. It is a location for a relaxing low budget holiday. Currently, Belize-formerly known as British Honduras, the tropical country has now opened itself for international business and is now a reputable tax haven.

Through the International Business Act of 1990, Belize has offered offshore businesses opportunities to register in the country. One of the biggest advantages of registering the offshore business in Belize is that the company will thereafter be exempt from tax and stamp duties. The tax exemptions that a Belize IBC can enjoy include exemptions on all rents, compensations, interests, and dividends. Once the IBC is registered, it can trade in financial management, asset protection, and investment holding just to name some of the business options.

In addition to that, the company can carry out business activities all over the world. Unless under special circumstances (as underlined in the IBC Act), local companies are not allowed to operate under the IBC giving international companies. To the great advantage of those who do not reside in Belize but would like to register their business venture there, the government does not require that the company have a local resident as one of the directors or shareholders. Moreover, only one director need actually register the company. There is also no minimum capital requirement needed to start up the business.

The Belize government assures businesses registered that there is confidentiality in the book keeping activities of any business registered with them. Books can be kept up to date anywhere in the world but should be availed for inspection by the various stakeholders upon request. The names of directors or shareholders do not appear in any public record. When buying or selling, shares may be paid for in recognizable currency or through the transfer of assets. It is not required that the company holds meetings but if need be they can be done over telephone or any other communication facet as long as all those participating can hear the proceedings.

A great advantage of starting a company in Belize is that you do not have to be physically present after the company is registered. Through the facilitation of an agent that can open a bank account, the process can be completed in a few days without much hustle. Some of the restrictions placed on an IBC include undertaking insurance or banking business and owning a stake in real estate property in Belize. In addition, the IBC is not allowed to engage in business activities with people who reside in Belize. The process of registering a company in Belize is completely automated which allows a company quick registration in less than an hour which is not possible in most countries.

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Belize may be viewed as the perfect place for a tax-free country, as it is perfect for companies and individuals to initiate any type of international investment or tax planning.

If you want to register Belize Company, you will have a registered agent process a Memorandum of Association and take that to the government registry office. With that, you will be required to pay fees according to your business entity. Getting approved for your new IBC business, you will have to submit at least 3 names, with the first name being the utmost important. If processed without any delays, this incorporation can be activated in 72 hours or less.

When choosing to look for a corresponding destination name, the only restrictions are a true name, a name that is similar or identical to each other, and an existing company. There are restrictions for known companies from other countries, indicating their names, those who support the government. By focusing on possible names for the installation, you can name in all languages using the Latin alphabet, but you may be asked for the translation in English or Spanish.

There are some names that may require prior authorization or a license for use, generally not be used if connected with an activity. These include: building societies, savings, insurance, banks, fund management, insurance, reinsurance, mutual fund, and equivalent foreign language.

Permission to run your business, you only need to have a minimum of one manager, and there is no maximum of directors that you may have. The details of all the commands will never appear in public for obvious reasons. It’s key to remember that although the companies are in the offshore jurisdiction of Belize, it is mandatory that you comply with local tax laws.

The costs associated when you register Belize Company, including whether a package includes the standard: Annual license fee, offshore company incorporation fee, Initial licensing fee, Disbursements, Annual compliance fee, Annual statutory fee, and Post incorporation structure fee.

Using an incorporation package, you are sure that the file is properly configured to make the transaction as smooth as possible. This installation of an offshore account in Belize IBC, will create a confidential tax-free environment when you register Belize company.

Merchant Accounts can be created through the account creation. There also can be some advantages of establishing an offshore account with a high risk merchant account.

Corporation setup when individuals want to register Belize Company can be extremely profitable. Ensuring that the investor or company is saving their money and not throwing it away.

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The formation of a Belize offshore company has its upside because it takes care of the core reason why anyone does business in the first place, to save money and make more money. Once you have filled in the order form, paid the agent that will be your go-between, produced copies of your passport and residential address and if possible a name for your company in either English or Chinese (those are the two languages used in any of these processes), then all you have to do is wait for the documents and permits or licenses sent to you so that the company can officially begin. It normally takes hours and at most, a couple of days. The consulting agent or firm that are taking care of your company registration will then register your name, get your proof of registry, get your trade license sorted, register you with the tax division, register your business premises and then register your employees. Once all that is done, they will contact you letting you know that all is done and now you can begin using your Belize offshore company.

There are many advantages of having an offshore company, particularly in Belize. For one, it is one of the newest states in the commonwealth, recognized in 1981. It is also in a convenient time zone whereby if, for example, you have your business in America, then you can still carry on business in Belize because the markets open in Belize when midnight has set in the USA so you can get two business days under the time-stamp of one day. Also the tax rates are low or at zero, so in that way you make money and maximized profits because regularly when you make more money, you pay more tax so it does work for you and also to an extent your employees.

Another advantage that there is is the level of secrecy and anonymity. Depending on which consultant helped register the company, who was put down as the director and shareholders and the name used to register, one can actually keep the identity of the actual owners secret. This ties in with the advantage that you do not have to report to any registry, on any of your documents, so they have minimal jurisdiction over you and your company. Another excellent reason to go ahead and register an offshore company in Belize is the fact that you can control your money any way you please and this means that the taxman cannot actually breathe down your neck, and you can bank your money in Belize or proceed to manage it without fear of having it being assessed or possessed.

As we have seen, opening an offshore company in Belize has more advantages that will help you maximize on business opportunities, maximize on profit, and minimize the tax deduction. You can also be allowed to handle meetings with representatives of your company in Belize and bank with them to ensure uniformity and order in your company.

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Registering a company in Belize is an easy process. This is because the authorities do not have many requirements apart from the ones set by the business act. The business name is required for the registration process to begin. You need to search the name at the office of the registrar at Belize to make sure that another company does not register the name you are using. The process of searching the business name takes a day or two if there are complications. No charge is levied to search for a business name. After you have a business name that is not registered, you then go and register the business upon submission of a copy of the articles of association as well as the memorandum of association. Other important information that is required is the company statutes. In the business regulation act enacted in 1990, this is defined.

Registration of a company is chargeable and it takes two days. By the end of the process, you are supposed to leave the office of the company registrar with a certificate of incorporation and another of registration. This is an indicator that you can conduct business as a company according to the law of Belize. However, registration of a company alone does not qualify you to operate a business. You are also required to get a trade license issued by the council of the area in which you are doing business. This is the longest process in the registration of a business in Belize. This is because it takes a day for the application of the trade license. This application is not charged but it will take 20 days or 3 weeks for an inspector of the council to inspect the environment where the company is situated and to ensure that, it is fit for conducting the business that you have registered.

Some processes in the registration that are chargeable as stipulated by the Belize business law structure and framework and include the filling of the documents submitted for registration. This process is charged $10 with another $500 for the registration. The registration of the directors, the statutes, and the memorandum are charged $13 and $12 respectively. The currency is in Belize dollars. The council charges 25% of the rental fees accrued by the company but there is another system where the figure is calculated if the company owns the premises it is operating in.

Other minor steps are involved for registration to be completed. These include registering the company at the general sales tax offices for remittance of tax on any general sale. The company is also expected to pay income tax and the registration is done at the department of income tax in Belize. The department guides the company on the procedure they are supposed to follow for tax remittance. The workers hired by the company are registered with the social security board so that they can get retirement benefits after they retire. The main point for all this is to provide a management structure for all businesses.

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