Business in Belize

Belize is an independent state located in the northeast of Central America and is part of the British Commonwealth of Nations. Belize (before 1973 it was called British Honduras) was a British colony from 1862, and gained independence on September 21, 1981. The state structure of Belize is based on the principles of parliamentary democracy of the Westminster system. The head of state is the Queen of Great Britain, represented by the Governor General. The population as of 2013 is 331,900. The official language is English. The main source of state income is tourism.

Belize is rightfully considered today one of the most popular offshore centers in the world. The Government of Belize fully supports the development of the country as a leading offshore jurisdiction. Through regular consultations with private entrepreneurs, the Government of Belize ensures that its policies and legislation are in line with the requirements and interests of the international financial community in an environment that engenders confidence and trust.

The most common form of legal entity set up in the offshore jurisdiction of Belize is the International Business Company (IBC). An IBC is established and operated under the provisions of the International Business Companies Act 1990, as amended in 2000, and is generally required to carry out trading and commercial activities outside the country. However, IBCs may carry out some activities in Belize. Profits that Belize IBC receives outside the country are not subject to any taxes.

Annual reporting and audit

Despite the fact that there is no obligation to file financial (accounting) statements with state authorities, the company must keep financial statements that confirm the financial condition of the company.

The corporate legislation of Belize

International business companies act Download

Protected cell companies Download

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