Company Formation in Belize
Capital gains and profits are exempt from taxes.
Respect for corporate privacy at the highest level
Belize offshore company formation
Belize LLC formation
Belize IBC formation
– Exempt from any reporting obligations
– Asset protection due to anti-confiscation provisions in the law;
– Exemption from all local taxes for foreign business entities;
– A quick and easy incorporation process;
– A stable political system with a long history of peaceful and democratic development
– The non-public availability of information about beneficial owners, shareholders, and directors.
Company Registration in Belize is perfect for:
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Four Easy Steps To Register A Company In Belize
- Passport of each shareholder/beneficial owner and director.
- Proof of residential address of each director and shareholder (utility bill, bank statement, …) dated within three months and must be in English or officially translated in English
- The proposed 3 company names with ending suffix “Limited”, “Corporation” or “Incorporated”; or (b) the abbreviation “Ltd”, “Corp” or “Inc”
FAQs
The first step in starting a business is registering a business name in Belize. Since your company name serves as a means of identification for your target markets, protecting it is crucial. The Belize Company and Corporate Affairs Registry (BCCAR) will handle this responsibility. Please get in touch with Ruihong by phone or email so that we can assist you with the registration of your business name in Belize.
Step 1 Ruihong will perform a company name search to ensure that your business name is distinct and legal in Belize. Your order should include three suggested names.
Step 2 Making a payment to Ruihong is the next action. Ensure that you have ordered all the services you require.
Step 3 The required documents to register a business name in Belize must be filled accurately. The checklist of required documents is as follows:
- Registration of a company with and without Liability
- Overseas Registration
- Business Name Registration
- Limited Liability Partnership Registration
Step 4 Your original documents will be delivered to BCCAR via Ruihong. Throughout the registration of your business name in Belize, we keep you informed.
Get the appropriate business licence for your organisation before conducting business in Belize. There are two primary categories of Belizean licences that you should be familiar with:
- Belize trade licence
Businesses in Belize that offer any form of service or good are required to hold a trade licence. The local city or town council is where you can register the licence. In Belize, trade licence costs are broken down into different categories and calculated based on the property’s annual rental value. For instance, a 3.5% tax applies to supermarkets, grocery stores, furniture stores, and repair shops. There is a 5% tax for hardware stores, petrol stations and dental services. The highest rate is 25% for companies that operate monopolies or casino operations. - Financial licence for Belize
You need a Belize financial licence if your company conducts business in the field of international financial services in Belize or from within Belize. The licence is issued by the FSC, or Belize Financial Service Commission. There are 13 different types of financial licences available in Belize, with services including accounting, payment processing, money transmission, and international asset management standing out.
International business entities (IBCs) in Belize are no longer free from taxes as of January 1, 2019. These IBCs are governed by the Income and firm Tax Act (IBTA) of Belize, just like a domestic firm would be.
- Belize has a dual taxation system under IBTA. Businesses are subject to two different types of taxes:
- Belize corporate income tax (CIT) is calculated on chargeable income, while Belize business tax (the VAT counterpart) is based on gross income or turnover.
The standard income tax rate in Belize is 25%.
Belize is a well-known offshore jurisdiction with the following benefits:
- Profit, dividends, added value, and interest are all tax-free.
- There are no limitations on where company directors and owners can live.
- There are no standards for financial reporting or auditing.
- Disclosure of shareholder and owner information.
- There is no currency restriction in Belize.
- An English law foundation serves as the governing law.
- Since FATF and OECD do not impose sanctions on Belize, it is one of the offshore jurisdictions on the “white list.”
- In general, Belize is a suitable jurisdiction in which to set up an offshore business.
Ruihong hence strongly advises learning how to register a business name in Belize before beginning business operations there.
The following rates of Belizean income tax are applicable to Offshore Companies:
- Businesses with gross receipts of more exceeding BZD 3 million must pay 1.75% of chargeable income.
- Businesses with gross receipts of less than BZD 3 million will be charged 3% of chargeable income.
- Surprisingly, if an offshore company’s income comes from trade or business outside of Belize, it is not required to pay Belize income tax.
With the exception of businesses involved in the production of petroleum, no income tax will be required on chargeable income as of January 1, 2020, following the IBTA amendment from December 2019.