Belize IBC dissolution question

[belq3]

After the recent laws passed whereby all belize IBC's must now report and pay income tax, I've decided I no longer wish to maintain an IBC. I wasn't even using it much anyway, and I no longer have a bank account with it.

The thing is, my offshore provider is asking a high price ($1.5k) to dissolve the company, and claiming that simply abandoning the company would put my name in bad standing and potential litigation.

I actually signed up for this forum after reading an earlier user asking the same question: Dissolution of Belize LLC Offshore Company

I just want to confirm, would abandoning the company and paying nothing still be a safe option? Have things changed? The company has no outstanding obligations and did not generate any income for 2 years.

 

[Sols]

If you're the only shareholder and the company has no outstanding obligations, I can't think of any litigation you would open yourself up to. The authorities in Belize don't care. They will just strike the company off.

I suppose in theory, it might be an issue if you in the future wish to form a new company in Belize. Never heard of anyone having issues like that. Just go with a different service provider or jurisdiction, if that's the case.

 

[belq3]

Thanks.. that puts my mind at ease. I'll let it lapse then.