Q:
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What is an International Business Company in Belize?
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A:
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An International Business Company (“IBC”), also known as an offshore Company, is a legal entity registered under International Business Act (“IBC Act”) in Belize. It is not subject to any taxes in Belize for any income sourced outside Belize. According the amendment made on the IBC Act in 2019, the IBCs are now allowed to conduct the business activities in Belize. If the IBC carries out any activity in Belize or has any income derived from within Belize, the IBC needs to comply with the new physical presence requirements and also will be subject to tax in Belize.
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Q:
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Do I have to visit Belize to incorporate the Company?
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A:
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No. All the necessary forms and the due diligence information can be submitted via email with the hard copies to follow by mail to the administrator/intermediary.
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Q:
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What is the minimum capital required?
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A:
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The amount of the authorized capital can be freely determined at incorporation by the owners of the IBC. The minimum paid up capital is issuing one share with USD1.00 each.
Kaizen handling the registration of an IBC in Belize with standard authorized capital of USD50,000.00 of USD1.00 each share. On the contrary, if the Company with an authorized capital of more than USD50,000.00 will be subject to higher official filing and renewal fee.
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Q:
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What documents should be submitted for incorporating an IBC in Belize?
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A:
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In general, to incorporate an IBC in Belize, the following must be submitted for due diligence checking and company incorporation:
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Details of the proposed business activities;
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Source of fund of the proposed company;
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Source of wealth of the shareholders and beneficial owners;
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4.
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Certified passport copies of all the directors, shareholders and beneficial owners; and
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5.
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Certified residential address proof copies of all the directors, shareholders and beneficial owners.
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The passports and address proofs of the directors, shareholders, beneficial owners must be certified by a staff of Kaizen or by a CPA, lawyer or attesting officer.
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Q:
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What are the minimum number of shareholders for Belize IBC?
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A:
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Belize IBC needs to hold by at least one shareholder. The shareholder can be a natural person or a body corporate who need not be a Belize resident.
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Q:
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Can Belize IBC have one director? Any restriction on the nationality?
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A:
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Belize IBC should have at least one director and the director(s) can be a natural person or a body corporate. They can be of any nationality and need not be a Belize resident. Also, the director and shareholder can be the same person.
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Q:
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Is it mandatory to have a company secretary for your Belize IBC?
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A:
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It is not mandatory to appoint a secretary. The Company may choose to appoint one. Secretary may be a natural person or a body corporate.
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Q:
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Is a Belize IBC required to open a bank account in Belize?
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A:
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No. There is no requirement for a Belize IBC to operate a bank account in Belize. It may open the bank accounts anywhere for the business needs.
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Q:
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Is there any requirement to have a Registered Office and a Registered Agent for Belize IBC?
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A:
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Every Belize IBC must have a local Registered Office and a Registered Agent in Belize.
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Q:
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Are bearer shares allowed for Belize IBC?
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A:
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Issuance of bearer shares is no longer permitted for Belize IBC.
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Q:
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What level of confidentiality could be expected for Belize IBC?
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A:
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No information pertaining to the identity of directors & shareholders is filed in any public register in Belize.
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