| GENERAL INFORMATION |
| |
| Location | Belize City, Belize, Central America Formerly British Honduras |
| Population | 249,800 |
| Native language | English, Spanish, Creole |
| Currency | Belize dollar tied to the US dollar |
| Political status/Constitution | Self-governing independent since 1981, domestic bicameral; member of British Commonwealth |
| Banking & professional facilities | Excellent
offshore and local banking, qualified international financial services
providers, attorneys, accountants, offshore certified staff support |
| Legal system | English Common Law |
| Offshore specialities/expertise | Banking investments, trust and fund management; Company administration |
|
| TAX REGULATIONS |
| |
| Income tax |
|
 resident | 25%
of net income tax and there is also business tax that ranges from 0.75%
to 19% of gross profit, depending on the activity of the business |
| non-resident | N/A |
| Trusts |
|
| resident | N/A |
| non-resident | N/A |
| Estate duty | No |
| Corporate tax |
|
| resident | Same as business tax, ranging from 0.75% to 19% |
| non-resident | N/A |
| exempt | N/A |
| Withholding taxes | No |
| Exchange controls |
|
| resident | Nil |
| non-resident | Nil |
|
| TRUSTS |
| |
| Are trusts permitted? | Yes |
| Perpetuity period | None |
| Accumulation period | N/A |
| Trust law | Yes |
| Trust duty | No |
| Forced heirship exclusion | No |
| Asset protection measures | Yes |
| Trust register | Yes, general registrar |
| Resident trustee/s required | No |
| Regulation of trustees | No |
|
| CORPORATION LAW FACTORS |
| |
| Type of corporate vehicles | Chapter
206 (local companies); IBC's; protected cell companies; mutual funds;
limited liability partnerships; trusts; limited duration companies |
| Incorporation time scale | 2 hours |
| Fees |
|
Incorporation-
Government | $ 100 if capital is $50,000 or below; $1,000 if authorised capital exceeds $50,000 |
| Other | Approximately,
US$600; fees may vary depending on registered agents. These fees apply
to LDC's. Rates are similar for Chapter 206 companies |
| Annual - Government | $100 if capital is $50,000 or below; $1,000 if authorised capital exceeds $50,000 |
| Other | N/A |
| Resident directors required | No |
| Min number of directors required | One at time of incorporation |
| Directors meetings required | No |
| Location/frequency | N/A |
| Other requirements | N/A |
| Beneficial ownership disclosure | No |
| Shareholder disclosure | No |
| Minimum number of shareholders | 1 for IBC & LDC |
| Bearer shares allowed | All types of shares allowed |
| No-par value shares allowed | Yes |
| Public share register | No |
| Shareholders meetings required | No, only when IBC directors determine need |
| Frequency | Whenever directors determine the need |
| Place | Discretionary |
| Annual return required | No |
| Audit required | No |
| Foreign currency accounting allowed | Yes |
| Registered office | Yes |
| Registered agent | Yes |
| Stamp/capital duty | No |
| Naming your company | No
company shall be incorporated under the Act under a name that contains
the words "Assurance", "Bank", "Building Society", "Trusts", "Chamber
of Commerce", "Insurance", "Municipal", "Royal" |
| Company mobility provisions/redomicility rules | Continuation
of IBC's or LDC's to Belize. It may also discontinue within Belize to
an outside jurisdiction if the laws of that jurisdiction so allow |
