Belize IBC's are incorporated under the Companies Act of 1990 which is based on modern legislation which provides IBC Companies with extended privileges and guarantees absolute confidentiality. The Belize IBC Act is based on the best features of legislation adopted in other jurisdictions offering offshore incorporation.
In Belize, domestic companies are subject to a tax rate of 35%. However, IBC companies are not liable to any taxes, except for annual franchise tax. As in most other offshore jurisdictions with similar legislation, local residents are specifically prevented from owning such companies and a Belize IBC may not actively engage in business or trade in Belize. However, it can maintain staff and facilities in the country. Also an IBC must have a registered office and agent in Belize.