Belize – An Introduction
Belize is located on the Caribbean coast of Central America. Belize City is the major commercial centre of the country. It is one of the English speaking countries with English as their official language of the region.
Belize is an excellent place for International Business Companies to incorporate new businesses. An entrepreneur from any nationality can register the company in Belize.
The economy of Belize is the smallest in the region, and the economy is primarily based on agriculture and service. Most of the foreign direct investment comes from the tourism sector and some significant sectors like energy and telecommunication also contribute to foreign investments.
The political and economic stability in the country is an important factor that makes Belize an attractive place for foreign investors.
Why start a business in Belize?
Belize offers many business benefits to the companies that register themselves to conduct business in Export Processing Zones and Commercial Free Zones of Belize.
- The local corporate income tax on foreign-sourced income is exempted
- US $ 1 is the minimum share capital required to start a company
- The company can start operations with only one director/shareholder
- Annual financial statements not required
- SMEs and IBCs in Belize are exempted from all custom duties
- Foreign investors can own the real estate properties
- The export processing zone provides 20 years of tax holiday
It is an excellent destination for the companies undertaking activities like manufacturing, processing, and assembly, etc. the companies registered in Commercial Free Zones and Export Processing Zones are exempted from
- Excise duty
- Capital gain tax
- Property tax
Business Entities in Belize
Here are the following types of entities available for registration in Belize:
- International Business Companies
- Private Companies
- Limited Life Companies
- Trust Funds
- Limited Liability Partnership
- Joint Ventures and Cooperatives
- Public Investment Companies
- Sole Proprietor
International Business Companies are the most common form of business entities to be registered in Belize by international investors.
Belize International Business Company (IBC) Formation Procedures
Here are some general steps for the formation of the company in Belize:
- Application for registration
- Memorandum & Articles of Association
- Appointment of Company Director/Manager
- Inaugural Resolution
- Board Resolution
- Register of Directors
- Corporate Documents
- Corporate Bank Account
- Certificate of Incorporation
Support of CredentOne DMCC
Although the international company set up is simple and straight forward in Belize, the investor from the foreign land should appoint a business set up consultant to help you to have a hassle-free experience of company formation.
CredentOne DMCC have a very professional staff that is well versed in the company registration process. CredentOne DMCC helps the clients in understanding the registration process, taxation policy, hiring employees, processing Visas and related formalities in company formation.
We extend our full support in all the process of setting up a business in Belize.