offshore company formation tax havens Home

Belize Offshore Company Formation

The offshore jurisdiction of Belize is one of the best found in the Central American region. Belize for many years has incorporated offshore companies which are used for business in countries around the world. Belize is a tax haven an offshore jurisdiction. Some of the offshore services provided in the offshore jurisdiction are offshore banking, the formation of offshore trusts, online gaming and the registration of ships and vessels. Offshore company registration began in Belize in 1990; this marked the beginning of the offshore financial sector of the offshore jurisdiction.

Belize offshore company formation is an easy process which can be completed in can be incorporated in a matter of hours. Only one day is need for the formation of offshore companies in the tax haven of Belize. Before the process of offshore company registration can begin in the offshore jurisdiction there is the matter of employing a registered agent to work on behalf of the client. The offshore company’s legislation of Belize states that offshore companies cannot be registered without a registered agent. The services of registered agent are provided by many competent offshore services providers in the tax haven. The services of registered agents are very useful. Company order forms can be obtained on the websites of offshore service providers allowing future offshore company owners to submit the information necessary for offshore company formation online. All information submitted to a registered agent is Belize is private and cannot be given out. There is no obligation to travel to the tax haven for offshore company formation.

The procedure for the formation of a Belize offshore company is governed by the Belize International Business Companies Act. According to this piece of offshore legislation Belize offshore companies are registered with the Registry of International companies in Belize. When incorporating an offshore company for the first time in Belize the company owners must make available to the registered agent proof of identity (a copy of the individual’s passport is the document of choice) and proof of address which is normally done by providing the agent with a copy of a utility bill which is not more than three (3) months old. Due diligence investigations is also conducted for the owner(s) of the International Business company.

For offshore company registration in Belize to be complete the registered agent must submitted to the Registry of International companies a Memorandum of Association and Articles of Association on behalf of the offshore company. The information to be files should be the following:

  • The name of the proposed company
  • The registered address of the offshore company
  • The name and address of the registered agent
  • The purposes for forming the offshore corporation
  • The authorized share capital of the company
  • The number of shares to be issued
  • The different classes of share to be issued
  • The currency in which the company shares will be issued
  • The rights, privileges, powers and restrictions placed on each class of share issued
  • The number of shares to be included as bearer shares and registered shares

The Articles of Association for a Belize offshore company will include the regulations which pertain to the offshore company structure and how it will function. The Articles of Association will dictate the power of company directors, when and where meetings will be held, how shares will be issued and how they will be transferred.

The process of offshore company formation in the tax haven of Belize will be complete if the Registrar of Companies is pleased with the documents issued and hands out to the offshore corporation a Certificate of Incorporation. The Belize International Business Company will then be a legal entity in the jurisdiction. Belize offshore companies are free to carry out business anywhere in the world except in the tax haven of Belize. Once formed offshore companies in Belize has all the rights of a natural person.

The Registrar of Companies in Belize has very strict rules for incorporating offshore companies in the offshore tax haven. The Registrar of Companies can refuse to register a company if the name chosen was already used by another company or if the name is close to another Belize company and will eventually cause confusion between the two (2). The name of a Belize offshore company must not show any affiliation with the government of the country or any political parties. Since most Belize offshore companies are Limited Liability Company Belize offshore company names must end with one of the following words or its appropriate abbreviation; Limited, Incorporation, Sociedad Anonima, Société Anonyme and Corporation among others. The names of offshore companies in Belize can be written in any language.

Offshore companies in Belize who wish to have one of the following words as part of the company’s name must apply for a special license from the Registrar of Companies in the offshore jurisdictions; Bank, Loans, Savings, Chamber of Commerce, Insurance, Assurance, Investment Fund, Management Fund, Building Society, Trust and Trustee.

The formation of offshore companies in the pre tax haven of Belize one (1) shareholder and one (1) director is needed. The shareholder and director for the Belize International Business Company can be the same person. The directors for offshore companies in Belize can be corporations or individuals. Although it is not obligatory for a Company Secretary to be appointed for Belize offshore companies it is recommended that one be hired.

As a pre tax haven offshore companies formed in the jurisdiction will pay no taxes on foreign earned income. Offshore companies are exempted from Stamp Duty, capital gains tax, estate tax, withholding tax and inheritance tax. The formation of offshore companies is very beneficial as Belize offshore companies can be used for engaging in international trade and are very good for offshore asset protection. Belize offshore companies are very easy to maintain. At the end of each financial year the Belize offshore company is obligated to pay to the government an annual license fee which is very affordable.