Belize became a British Crown Colony in 1862 and have become independent in 1981. Belize is now a parliamentary democracy. The federal government of Belize is fully committed to the continuing development of Belize as a number one offshore jurisdiction for the incorporation of offshore firms. Through regular consultations with the private sector, the federal government ensures that its policies and laws proceed to satisfy the needs and interests of the international financial community in an environment which engenders trust and confidence.
The Belize International Business Company (IBC) is the most well-liked type of offshore corporate structure. An IBC is formed under the International Business Company Act 1990 and usually must conduct its trading and business outside Belize. Nonetheless, Belize’s laws also allows an IBC to hold on plenty of activities inside Belize. Belize offshore firms are used for a wide range of tax planning and international investment purposes.
Belize (formerly British Honduras) is a scenically beautiful, independent country positioned on the Caribbean seaboard of Central America. Belize has an area of roughly 23,026 sq km, and is bounded by Mexico to the north and Guatemala to the west and south. The executive capital of Belize is Belmopan, but the main industrial centre is Belize City, which is positioned on the eastern coast near the main international airport.
The overall population of Belize is around 300,000 of which some 60,000 live in Belize City. The population of Belize is ethnically diverse and includes descendants of the unique Mayan culture and folks of Caribbean, Caucasian, Chinese and East Indian descent.
Belize has an extended history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. In Belize, executive authority is exercised by the Cabinet under the leadership of the Prime Minister, subject to approval by a 28 member Senate with the bulk appointed on the advice of the Prime Minister. There are two important political parties; each parties are committed to the economic development of the country and the encouragement of overseas investment.
Belize’s unspoiled environment with cays and barrier reef make it a preferred destination for eco-tourists, whilst its clear unpolluted waters are excellent for swimming, diving, fishing and other aqua sports. The country also offers a novel mixture of unspoiled woodlands, caves, rivers, mountains, waterfalls and jungle, along with a wealth of Mayan archaeological sites. There are also forest reserves, wildlife sanctuaries, marine resort areas and the world’s only jaguar reserve.
The official language and spoken language is English. The currency is the Belize Dollar (BZ$). Offshore company activities are exempted from exchange control. The legal system is predicated on English Company Law.
o International Business Firms Act, 2000.
o Limited Life Firms Act, 1999.
the principle form of Company for International Trade and Investment is The Belize International Business Company (IBC) or the Belize Limited Life Company (LLC).
With a purpose to incorporate a Belize company the Registered Agent must deliver the Memorandum of Association and Articles of Association to the Belize Registry along with the suitable fee.
Restrictions do apply to Belize offshore firms (IBC’s) – they can not trade inside Belize or own real estate there. Additionally they cannot undertake the business of banking, insurance, assurance or reinsurance. An offshore company incorporated in Belize has the identical powers as a natural person.