Belize, a Central American country, is not only a travel destination but also serves as one of the top destinations for offshore company formation. Initially, Belize was considered a travel destination; however, in recent times, the country has established itself as a popular offshore business jurisdiction.
Are you planning to take your business offshore?
Consider offshore company registration in Belize. The country offers all the benefits of an offshore company incorporation. Know the details about offshore company formation in Belize in this article.
Why Offshore Company Registration Belize is Profitable?
If you have the question – “Why shall I invest in offshore company formation in Belize?” in your mind. Check out this section:
All your income with corporate and capital gains tax are exempted from tax. This is the primary reason why business investors prefer opening an offshore business in a foreign land. You don’t have to pay any inheritance tax or pay for any stamp duty. These favourable tax policies enhance your business’s profit and reduce liquidation risks.
According to the recent legalities, tax is exempted for income generated under $37,500. The tax rate stays between 1.75% and 19% for other scenarios. All the IBCs (International Business Companies) that are physically located in Belize or doing licensed business activities ought to file for monthly tax returns.
There are certain criteria for offshore company registration Belize in order to enjoy tax exemption. You can’t do business with the locals or earn profit inside the jurisdiction. The next thing required is to have a registered address for your business in Belize.
Confidentiality and Privacy:
People who are looking for confidentiality and want to maintain the privacy of all of the members included in business. None of the board members is required to disclose their personal information for an offshore company formation in Belize. You can easily separate yourself from the company in Belize. You have the full right not to disclose any information as mentioned by the country’s laws and regulations.
The Belize government has focused more on foreign investment policies and has adopted various measures. One measurement is promoting tax-free regimes in certain areas, namely Export Processing Zones (EPZ) and Commercial Free Zones (CFZ).
EPZ is more focused on traditional business, and CFZ is more focused on promoting the commercial industry. However, both of these zones are exempted from capital gains tax, property and land taxes, excise, sales and consumption taxes, as well as exemptions on import duty and export duty.
Belize is one such country where you can notice flexibility in the business scenario. You will get flexibility in terms of business structure. There are numerous business structures that you can choose for your IBC. It can be a multiple-shareholder or single-shareholder structure.
Another flexibility can be seen in the form of international business laws. You will not be restricted to expanding and developing your business in Belize with the offshore company. There are fewer constraints when it comes to business regulations.
Ease of Company Formation:
The quick and easy offshore company registration Belize process enhances the ease of doing business. The time taken for the whole registration process is 3-4 working days.
The only business requirement is one shareholder and a director. In certain cases, one individual can be both. Therefore, the scope of ease of doing business is higher and preferred by the business owners.
Requirements for Offshore Company Formation in Belize
There are numerous features that one has to consider before forming a company in Belize. Have a look here:
- Only one director and shareholder are required to start an offshore company in Belize. One single individual can be both for a Belizean offshore company.
- The names of the shareholders and directors don’t come to the forefront. There are no public records for any personal information of them.
- Having a company secretary is not mandatory in Belize since the government wants to simplify the company formation process.
- You don’t have to keep any annual accounts or pay any paid-up capital.
- There is no requirement to hold meetings for offshore company formation in Belize.
The Process of Offshore Company Registration in Belize
Go through the following process to start your offshore company in Belize:
1. Appoint a Registered Agent:
The first step is to contact a certified business professional who is well aware of the Belize offshore company incorporation process. Carry out the whole process through them. You can contact Business Setup Worldwide.
2. Finalize a Trade Name:
In the subsequent step, pick a alternate call following all of the exchange call rules in Belize. It is to be noted that the call selected have to now not sound offensive and have to no longer be a reproduction of the competitor’s call existing inside the marketplace.
3. Submit the Documents:
Draft the following files for offshore enterprise registration in Belize: MOA and AOA, Duly crammed utility form. Passport-sized images of the company administrators and shareholders, Identity proof of the corporation administrators and shareholders. Address proof of the company directors and shareholders, Well-drafted business plan.
4. Apply for the License:
In the next step, apply for a business license depending on the type of business activity. Once you submit the documents, wait for the company’s approval.
5. Open a Bank Account:
The last step includes opening a bank account for Belize offshore company. Belize has various international banks to choose from with banking services.
With all being said, it is advisable that you take the hand of any professional or business consultancy for offshore company registration in Belize. Business Setup Worldwide is a reputable business consultancy with business consultants onboard.
We can provide you with any company formation services regarding the offshore business. Contact us to learn more and start your own offshore business today.