Advantages of Belize IBC
There are substantial benefits for the establishment of a Belize IBC that does not operate within the jurisdiction. Bank account can be established with reliable bank in Belize. There are no currency restrictions in Belize. Meetings of directors and shareholders may be held in any country and may be attended by proxy. Also, there are no citizenship or residency requirements for directors, officers or shareholders.
Following tax benefits are applied: Belize IBC's are exempt from income tax, from taxes on all dividends paid, from taxes on all interests, rent, royalties, compensations and other amounts paid, from taxes on capital gains on shares, debt obligations or other securities.
List of main advantages:
- Flexible Structure.
- An IBC is exempt from any tax to the Belizean Government.
- It is allowed to have a low authorized and paid-in capital in relation to the value of the asset or the extent of the liabilities of the corporation.
- Liability limited to the amount of the nominal value of the shares. Shareholders are not liable for any amount over the nominal value of their shares.
- The requirement of at least one shareholder. Shareholder can be another company (or trust).
- No limitations as to conditions on nationalities.
- Meetings of Directors can be held anywhere in the world.
- Meetings of shareholders may be held any where in the world, provided the articles of incorporation make that possible.
- Minutes of shareholders meetings are not mandatory.
- Incorporation and shareholders need not be the same person or entities.
- Changes of shareholders or directors need not be filed with the Registrar of Companies.
- No requirement to maintain a register of shareholders or directors.
- No requirements for annual reports setting out the number of shares issued or the names of shareholder or directors.
- The nominal value of shares may be determined upon date of issue.
- Shares may be issued in bearer form, transferable by delivery (which adds to the confidentiality feature.)
- Any company can buy back its own shares from shareholders. That is, there may be treasury stock.
- No information relative to the company will be disclosed by the Companies Registry except that it exists, the location of its registered office and the identity of the resident agent.
- The company can conduct any business not excluded by the Law or by the Company's Charter.
- Bookkeeping and annual accounts are not mandatory.
- Company files and records may be held anywhere in the world.
- Only the Memorandum and Articles are required for public recording.
- Registration of Registers of Directors, Members, and Mortgages and Charges are optional.
- There are easy procedures for liquidation of the corporation.
- No business and directors licenses are needed.
- No foreign exchange license is needed.
- Only the Memorandum and Articles are required for public recording.
- Registration of Registers of Directors, Members, and Mortgages and Charges are optional.
- Shelf companies are available.
Besides, company re-domiciliation into and out of Belize is permitted, as well as registration in any foreign language. Belize's legislation also facilitates speedy and simple incorporation, and its modern and computerized IBC Registry is able to incorporate a company within one hour.
