Belize International Business Companies
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In 1990, Belize enacted the International Business Companies Act based on the British Virgin Islands model. In a short space of ten years, Belize has registered more than 15,000 IBC's. Belize's IBC legislation is viewed internationally as one of the most modern and user-friendly. It is particularly designed with the offshore investor in mind. A Belizean IBC is an ideal corporate vehicle for international financial transactions and allows the investor to engage in a wide variety of activities ranging from asset protection to operating bank accounts, brokerage accounts, ship ownership, commission arrangements and various other commercial transactions.
The IBC legislation was supplemented in 1992 with the enactment of a Trusts Act which provides for both onshore and offshore trusts. Universally acknowledged as one of the best in the field, Belize's trust law contains provisions that are specially designed to meet the needs of differing and diverse cultures and religions.
Belize IBCs have the following Features and Advantages:
Progressive legislation
The IBC Act was introduced in 1990 to implement competitive offshore legislation for Belize IBC's which was subsequently amended to reflect the changes required to provide efficient Belize offshore services.
Efficient Incorporation / Registration
Belize incorporation is very efficient under normal circumstances, a Belize IBC can be incorporated in a couple of working days.
Flexibility in company structure
• There is no requirement for a secretary resident or otherwise
• Only one director or shareholder required for the company formation
• Shareholder(s) and director(s) may be the same person
• The shareholder(s) and director(s) can be a natural person or a corporate body
• There is no requirement for appointing local shareholder(s) and director(s)
Privacy of identity of principals
The documents for Belize offshore Incorporation do not carry the name or identity of any shareholder or director. The names or identities of these persons do not appear in any public record.
Taxation in Belize
On IBC Profits According to the IBC Act of 1990, offshore companies are exempted from all taxes.
Read more about this topic: Economy Of Belize
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