Belize is a classic offshore jurisdiction. In terms of convenience and ease of operations it is great choice. Belize government pays special attention to its offshore status and develops legislation in accordance to it. In addition to the IBC law (companies preferred for international transactions), Belize now has legislation for Ship Registration, Trusts, Offshore Banking, Computer Wagering, Limited Life Companies, Limited Liability Partnerships, Mutual Funds, International Insurance, Protected Cell Companies.
As we’ve mentioned before International Business Companies (IBC’s) are the ones preferred for international transactions. They must have at least one shareholder. He can be individual or corporate. The same rule applies for the director. He also is free to reside outside Belize. IBC must have its registered office and registered agent on the Belize territory. In Belize registered company with authorized share capital up to $50 000 must pay $100. $1000 if authorized share capital exceeds $50 000. When we said earlier that Belize is a classical offshore jurisdiction, we meant that there is no local taxation for IBC’s, annual return, disclosure of profits and audit of company financial statements are not required; no exchange control is imposed and there are no requirements regarding shareholders meetings.