Company registration is the process of formalizing the status of a legal entity in accordance with the laws of a certain country. During this process, the company is officially recognized as a legal entity with its own legal capacity.
To receive this status, it is necessary to provide certain documentation and fulfill the requirements established by the state authorities. Due to registration, the entity is able to conduct commercial activities, conclude contracts, participate in court proceedings and perform other legally significant actions.
If you plan to start a business in Central America, Belize is an excellent choice for registering your company. The Manimama team has conducted in-depth research, analyzed the main subtleties of incorporating in Belize, and is ready to share its results and help you choose the right jurisdiction.
What are the main advantages of incorporating a company (business) in Belize?
1. Favorable tax regime
Belize is one of the most tax-efficient jurisdictions for international businesses. The International Business Companies (IBC) Act exempts companies from local taxes, including corporate income tax, capital gains tax, and stamp duties. This allows entrepreneurs to optimize their expenses while maintaining the confidentiality of financial operations.
2. Asset protection and confidentiality
Belize offers a high level of confidentiality for company owners. Information about shareholders, directors, and beneficiaries is not disclosed in public records. This is particularly important for entrepreneurs seeking a jurisdiction that ensures reliable asset protection and business privacy.
3. Simplicity and speed of registration
The company registration process in Belize is highly streamlined and can be completed within just two weeks. This efficiency is made possible by a responsive regulatory authority that actively supports businesses and ensures compliance with legal standards. Minimal reporting requirements further simplify the process of running a business.
4. Stable political environment
Belize is known for its stable political environment and economic focus on supporting entrepreneurship. English is the official language, which significantly facilitates interactions with local authorities, banks, and partners for international investors. This makes Belize a convenient jurisdiction for businesses worldwide.
5. Sound legal framework
The legal system in Belize is based on English common law, which is familiar to most foreign investors. This creates a predictable legal environment that fosters dispute resolution and builds investor confidence. A reliable legal framework also supports companies’ interests in protecting property rights.
6. Access to regional markets and modern infrastructure
Belize is a member of the Caribbean Community (CARICOM), which provides access to a regional market and creates new opportunities for business expansion. Additionally, the country offers modern telecommunications infrastructure and a well-developed financial services sector, making it easier to conduct international operations and manage businesses efficiently.
How to register a company in Belize and what are the main requirements for such registration?
Step 1. Initial setup
- Initiating a preliminary project assessment, assessing risks, choosing the type of company, preparing the necessary documents and obtaining the necessary permits, determining the time frame, budget, and resources required to complete the process.
- Preparation and filing of the package of documents.
Step 2. Company registration
- Verification and reservation of the company name;
- Facilitating the notarial process for the company’s official registration;
- Incorporating the company’s data into the Belize Companies Registry;
- Obtaining the Certificate of incorporation from the Register, Memorandum and Articles of Association.
Requirements for registering a company in Belize on the example of an International Business Company (IBC):
- Shareholders: the company is required to have at least 1 shareholder, who can be an individual or legal entity.
- Director: the company must appoint at least 1 director, who can be an individual or legal entity.
- Company secretary: there is no requirement.
- Minimum share capital: there is no minimum paid up share capital.
- Legal address: the company is obliged to have an official registered office address in Belize.
- Registered agent: appointment of a local registered agent is compulsory.
- Liability: limited to the amount of capital they have invested in the company through their shares.
- Accounting: no financial reporting and auditing requirements to non-resident IBC companies. But if the company falls under the substance and is recognized as a resident of Belize, reporting is mandatory. In addition, an IBC is required to submit an annual return.
What do you have to know about taxes when registering a company in Belize?
Corporate income tax (CIT):
There is no CIT in Belize for an IBC.
Personal income tax (PIT):
- Individuals who are earning more than $26,000 (approx. €24,005) in a year are charged a flat tax rate of 25%.
- Those who are employed and reside in Belize and whose total income per annum from all sources is less than $26,000 (approx. €24,005) are exempt from this tax.
Value-added tax (VAT):
There is no VAT in Belize for an IBC.
For readers
Manimama provides assistance in choosing the right jurisdiction for company incorporation and in registering a business specifically in Belize. We have a good understanding of the tax and legal peculiarities of specific jurisdictions, which helps our clients make an informed choice based on their unique needs and development strategies. In our work, we take into account factors affecting the business environment, such as the level of competition, access to financial and human resources, as well as opportunities for further growth and development in different jurisdictions.
By choosing our company formation service in Belize, you are working with a law firm that values integrity, competence, and client satisfaction. Let us help you set up a company in Belize and pave the way for your business success!
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The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.
