Features of a Belize IBC
Belize is an attractive location for the incorporation of an IBC. See below for the features of a Belize IBC:
- Competitive prices for incorporation and annual fees for a Belize IBC;
- The incorporation process for Belize Offshore companies will not take longer that 3 working days;
- A Belize offshore company is exempted from all taxes;
- IBC standard share capital is USD $50,000;
- Standard share capital in excess of USD $50,000 may be declared in exchange for a higher annual fee;
- The names of the shareholders and directors for offshore Belize are not a part of the public record;
- The bearer share is allowed for offshore Belize companies;
- Minimum of one director and shareholder required for Belize incorporation;
- To incorporate in Belize, the director(s) and the shareholder(s) can be physical person or a company;
- The director and the shareholder can be the same person;
- There is no requirement to appoint a local or any secretary for Belize companies;
- The first director of the company is appointed at the organizational meeting of the Belize corporation;
- For Belize corporations, there is no requirements to file any accounts or to provide annual audits reports;
- The register of shares has to be kept up to date;
- A registered agent and a registered office are required;
- Annual fees are due to be paid by the 31st of July, starting from the second year of incorporation and each subsequent year thereafter;
- The Belize IBC cannot derive any income from activities in Belize;
- The word "Limited", "Corporation", "Incorporation", "Societe Anonyme", "Sociedad Auonima", or abbreviations thereof "Ltd.", "Corp.", "Inc.", "S.A.", "AG" has to be used as a corporate suffix of the company.
Belize companies with bearer shares
The Belize International Business Companies Act also provides for a possibility to configure an IBC with shares issued to a bearer (a bearer share company). While, in itself, bearer shares have usually represented the ultimate way of ensuring the anonymity of the owners of an offshore company, in this day and age, this method is somewhat limited by the law.
The bearer share certificates of a Belize IBC may not be delivered into the hands of the respective shareholders. Instead, the bearer shares must remain and be held in custody by the Registered Agent in Belize, together with written information as to the identities of the actual owners of the bearer shares.
This limitation removes the primary benefit of having a bearer share IBC - the free and fast transferability of shares. However, in terms of acting as an additional layer of confidentiality, the bearer shares of a Belize IBC are still an attractive option.
Bearer share IBCs have another serious disadvantage - most of the commercial banks worldwide (including most offshore banks) refuse to open accounts for bearer-share companies. For various reasons, it is a known fact that bearer-share IBCs are widely viewed with suspicion in a variety of transactions and circumstances. In this respect, having an IBC with registered shares held by a nominee shareholder is a less controversial option.
As you can see, it is possible to register a company with bearer shares in this jurisdiction, but this still does not provide anonymity so that is why nominee shareholders are recommended instead.
|Prices in Euros (€)|
|Formation of a Belize company or purchase of a shelf company||2000|
|- Certificate of Incorporation|
|- Memorandum and articles of association|
|- Minutes of first meeting appointing the directors and shareholders|
|- Share certificates (optional)|
|Provision of a secretary (optional), assistant secretary, up to 2 nominee directors (optional) and up to 2 nominee shareholders (optional) and the registered office and agent for the first year|
|Annual registered office and agent from year 2, including the government licence fee (for a company with an authorized capital of up to $50,000)||550|
|ANNUAL FEES FOR OPTIONAL SERVICES|
|Nominee director (corporate or individual) per annum (includes signing of simple documents)||300|
|Nominee shareholder (corporate or individual) per annum||300|
|Certificate of incumbency||125|
|Certificate of good standing||150|
|Tax exemption certificate||175|
|Notarisation per document or set||50|
|Apostille per document or set||120|
|Certification of a document by us||25|
|Certification by the IBC Registry||50|
|Amendments to certificates/Memorandum or Articles (change of name, directors, authorised capital, amending the memorandum and articles of association, etc.)||250|
|General power of attorney||150|
|Opening of a bank account in Belize||500|
|Opening of a bank account in Cyprus||600|
|Company search at registry||100|
|Increase of share capital over $50,000||1200|
Belize companies take just 2 days to register once we have all of the necessary information from you and another 2 days if you need the documents to be apostilled.
Belize shelf companies can be purchased and issued to you on the same day as the payment is made and all of the necessary documentation is sent to us.
ANNUAL LICENCE FEES
A company which is on the Register on 31 December in a year shall, before 31 July of the following year, pay to the Registrar an annual licence fee as follows:
(a) €100 if its authorized capital does not exceed $50,000 and all its shares have par value;
(b) €1,000 if its authorized capital exceeds $50,000;
(c) €350 if- its authorized capital does not exceed $50,000 and some or all of its shares have no par value; or it has no authorized share capital and all its shares have no par value; and
(d) €4,000 (in addition to the licence fee payable under paragraphs (a) to (c) above) if the company is a public investment company. If a company fails to pay the amount due as the licence fee under subsection (1) by the date specified therein, the licence fee increases by 10 per cent of that amount. If a company fails to pay the amount due as an increased licence fee under subsection (2) by 31 October, then the licence fee increases by 50 per cent of the licence fee specified in subsection (1).
Upon restoration by the Registrar to the Register of a company incorporated under this Act, the name of which was struck off the Register:-
€700 if the restoration is applied for within six months immediately following the striking of the name off the Register;
or €1300 if the restoration is applied for more than six months immediately following the striking of the name off the Register.