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Belize has a long history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved complete self rule in 1981.
This English speaking country has a population of some 200,000 with the major commercial centre being Belize City.
The law of Belize is derived from English common law supplemented by local legislation. The court system is also similar to that in England and contract and commercial law is based on the English law model.
Its status as an offshore finance centre was founded upon the International Business Companies Act 1990 and the Trusts Act 1992. The Belize International Business Company is virtually indistinguishable from the IBC offered in the British Virgin Islands.
The following characteristics are of particular note:
- annual government licence fee of US$100 if authorised capital is US$50,000 or less. total exemption from all forms of local taxation including Stamp Duty. only one subscriber and thereafter one shareholder (who may be corporate) is required. IBC's can have only one director, who may be corporate and need not be a local resident. meetings of shareholders and directors may be held in any country, at any time and they may attend meetings by proxy. no public disclosure of directors or shareholders. limited filing requirements, mainly certificate of incorporation, memorandum and articles of association, registered office and name and address of registered agent. No requirement for annual audit or to file accounts and annual returns. incorporation of a new company within 24 hours. An IBC name may be in any language and must include the words "Limited", "Corporation", "Incorporated", "Society Anonyme" or "Sociedad Anonima" or their usual abbreviations. Ready-made companies available.
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