Have you ever thought about Belize? This picturesque Central American country is a top choice for offshore business. With its efficient legal system and attractive tax incentives, Belize offers a welcoming environment for entrepreneurs. Whether you’re looking to start a new venture or acquire an existing offshore company, Belize is your compelling opportunity for business growth.

Belize: the perfect offshore haven for investors

As an offshore jurisdiction, Belize offers unique advantages:

• Tax Incentives: Belize comes with a zero corporate tax rate on income earned outside its borders, with no taxes on dividends, capital gains, or inheritance.
• Confidential Treatment: The country’s laws guarantee supreme confidentiality for business owners and bank account holders. Information about beneficiaries, directors, and shareholders is kept private and not publicly disclosed.
• Quick Registration: Belize has significantly simplified company registration procedures, allowing businesses to be established within a few days. There are no minimum authorized capital requirements, and companies can operate with a virtual office.
• Flexible Legislation: Belize’s corporate legislation is adaptable. It allows organizations to easily adjust to changes in the business environment. Entrepreneurs can choose their management structure and conduct operations as they see fit.
• Asset Security: Local laws offer strong asset protection from third-party claims and provide for complex asset recovery procedures.
• Stable Political and Economic Environment: Belize’s favorable investment climate and support for international business operations make it an important aspect of long-term business planning.

Belize Companies Act 2022: new standards for business

The adoption of the International Business Companies (IBC) Act in 1990 marked a significant turning point for Belize, establishing it as a leading offshore haven for international investors. Yet, the global landscape for offshore jurisdictions has shifted in recent years, with increasing pressure for transparency and deoffshorization. The above trend requires these states to revise their laws to comply with new international standards and introduce measures to curb money laundering, tax evasion, and other unlawful activities.

To meet evolving international standards, Belize further introduced the Belize Companies Act 2022. This legislation modernizes and streamlines company registration and management in the jurisdiction. By replacing previous laws, it consolidates regulatory rules, which means better transparency and efficiency. This is what key highlights of the new law include:

• Unified Regulations: The act merges the regulations for both international business companies (IBCs) and local businesses, simplifying the regulatory environment.
• Increased Transparency: New reporting requirements mandate the disclosure of directors and key individuals. This enhances transparency, aligns with global standards, and aids in the fight against tax evasion and money laundering. Thereunder, companies must maintain accurate records, store essential documents, and provide updated information on beneficial owners.
• Efficient Registration and Management: The implementation of electronic systems for document submission streamlines interactions with regulatory bodies, making processes more efficient.
• Enhanced Shareholder and Investor Protections: The act introduces improved mechanisms for dispute resolution and safeguards against management misconduct, resulting in the improved protection of shareholder and investor rights.
• Flexible Management Structures: Businesses now have greater freedom to choose their management structure.
• International Compliance: By incorporating recommendations from organizations like the OECD and the EU, the Belize Companies Act 2022 ensures compliance with international norms, thus bolstering Belize’s reputation as a reliable business jurisdiction.

The Belize Companies Act 2022 follows recommendations from the OECD and the EU. This way, Belize meets international norms and boosts its reputation as a reliable business jurisdiction.

Start fast with a Belize shelf company

A shelf company in Belize is a pre-registered legal entity that has not conducted any business activities before being acquired by a new owner.

One of the main benefits of acquiring an offshore company in Belize is that you can start operations almost immediately. This way, you will bypass the lengthy process of gathering and submitting documentation. The option is ideal for those who need to enter the market quickly or seize immediate business opportunities.

Another perk is that the company already has an established business history. It means more credibility with clients, partners, and financial institutions. A proven track record is a major asset. Many shelf companies also come with an open corporate bank account, which means simpler financial management and account setup with international banks. If the company you are purchasing does not have an account, International Wealth experts will gladly assist in setting up the one in Belize for your company without delay.

With the help of the International Wealth team, you will purchase a company in Belize without being physically present. We will guide you through the entire document processing procedure. To complete the purchase, you’ll need to provide information about your agents or proxies, the ultimate beneficial owner, and the directors you have appointed.

An offshore shelf company in Belize often comes with a flexible setup, allowing you to tailor its internal structure to your specific needs and activities. Belizean companies, whether IBC or LLC, require at least one director, who can be a non-resident or even a legal entity.

Please note that an offshore company in Belize must also have a minimum of one shareholder. For added confidentiality, you can appoint a nominee director. Although the current laws do not mandate a secretary, a registered office and a registered agent are still required.

As provided for under the national legislation, all legal entities are obliged to maintain accounting records. These financial documents must be preserved for at least five years. The above period begins after the account has been closed, the corresponding transactions have been executed, or the business relationships have ended. This requirement applies regardless of whether the transactions are one-time, recurring, or continuous.

You have three legal options for storing accounting records:

1. Keep them at the registered office within the jurisdiction.
2. Store them at the registered agent’s office in Belize.
3. Choose any other location, either in Belize or abroad, as designated by the company’s director or another authorized individual, provided the registered agent is notified of the records’ location.

International Wealth simplifies Belize business registration

With International Wealth, setting up a business in Belize, purchasing an offshore shelf company, or opening a corporate account with an offshore bank is effortless. Our top experts handle everything for you. Time is priceless and contact us as soon as you decide on your goals!