Belize International Business Companies or Belize IBC Act, established in 1990 and based heavily on the British Virgin Island’s model, allows for Belize IBC formations.
An International Business Company (IBC) is a very flexible corporate vehicle suitable for a wide range of business activities in accordance with the IBC Act of Belize.
Some of the primary attributes of the Belize IBC are as follows:
- Efficient Registry
The IBC Registry routinely incorporates a Belize IBC within 24 hours of lodgment of the constitutive documents of the company together with the prescribed fee.
- Low cost
At US$100.00, Belize’s incorporation and annual license fee are the lowest in the world among recognized international financial services jurisdictions.
Filing requirements for a Belize IBC are limited primarily to memorandum and articles of association, name of registered agent and address of registered office.
- User Friendly
Having been based on and not changed materially from the original BVI IBC Act, the common law-based Belize IBC is legally familiar.
- Name Availability
With just over 155,000 IBCs incorporated in Belize as compared to over 7,000,000 in BVI, Belize clearly and conveniently has much greater company name options for the client.
The Belize IBC enjoys total exemption from all forms of taxation in Belize including stamp duty.
- No Currency Exchange Control
A Belize IBC may freely open and maintain any type of currency account.
A Belize IBC is capable of being incorporated for or restricted to (as in the case of special purpose corporations) any object not prohibited by the laws of Belize.
- The Belize IBC may have only one director. Directors can be corporate and need not be resident in the country.
- Meetings of Belize IBC shareholders and/or directors may be held in any country at any time and may be attended by proxy.
- Resolutions of members and/or directors may be passed without a meeting.
- Shares can be issued without par value.
- A Belize IBC may be incorporated in any language (provided a properly translated English version is also submitted) and with an authorized share capital in a foreign currency. The Certificate of Incorporation is also granted in that foreign script.
Belize IBCs may migrate into and out of Belize. However, once re-domiciled in Belize, the former governing law ceases to be operable.