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Belize Company Formation

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Belize is a favorite offshore company haven. The reason being is that Belize made their country’s laws friendly for foreign businesses. It also has stable politics and economy, protecting offshore companies from unexpected liabilities. Here is a breakdown of the Belize Company Formation.

What is Belize Company Formation?
Belize Company Formation is the creation of an offshore business in Belize. Belize is a business capital. The business environment in Belize allows an offshore company to establish itself as a legal entity. There is no restriction for company formations there, for both local and foreign stakeholders. The only difference is that of a non-resident owner having to gain the approval of a bank.

Why Choose Belize?

Belize is called a tax haven. A tax haven is a country that makes itself politically and economically stable. It also ensures that it provides privacy for owners, stakeholders, and board members.

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The government of Belize established the International Business Companies Act (IBCA), the Offshore Banking Act, and the Trusts Act in 1996. Back then, the government of Belize’s primary objective is to provide legislative practices that will attract business owners to create offshore companies in their territory.

What are the Benefits of Forming an Offshore Company in Belize?
There are many benefits to forming an offshore company in Belize. Here are some of them.
  • Minimum start-up and low-cost annual fees - There is no need to have a large capital to start a company in Belize. It is an inexpensive setup.
  • Fast Company Creation - In just two weeks, you can create a full-fledged LLC.
  • A small group of people required - You only need one director and shareholder. These corporate entities can even reside outside of Belize.
  • No need for local sponsorship - Your profit is 100% yours, as opposed to other countries where it requires a 51% local resident to own the business.
  • You may file your documents without traveling to Belize. Transactions can be done electronically.
  • The bank accounts used in forming corporations in Belize exist almost anywhere.
  • Bank accounts for corporations forming in Belize may exist anywhere in the world.

Requirements for Belize Company Formation
Here are the requirements to create an offshore company in Belize.
  • Copy of passport of all shareholders, owners.
  • Proof of address.
  • A true copy of Memorandum and Articles of Association
  • Audited financial statements and latest annual returns
  • Certificate of Name Registration

There are a couple more documents which will be provided by an agent. The first documents to be completed are the Memorandum and Articles of Association. The Registry of International Companies in Belize will finish filing your documents. They will then issue a Certificate of Incorporation.

Through your agent, you will also file for a trade license and work permit. You are required to register with Social Security and Goods and Services Tax (GST). The final step is to get your Taxpayer Identification Number (TIN).

The government of Belize made their business industry permeable. It is a tax haven, making it a good business district.
 
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