BELIZE INTERNATIONAL BUSINESS COMPANIES ("IBC")
The International Business Companies Act, Chapter 270, Laws of Belize provides for the formation of international business companies. These companies are often referred to as Belize IBCs or Belize offshore companies. These are companies that are set up to take advantage of Belize's emerging reputation as a well regulated and international financial center.
Under the Laws of Belize, these corporations may be formed to carry on any business not prohibited by Law. The Belize IBC can do business only with non-residents of Belize but are allowed to establish an office in Belize and to access Belize Offshore banks to open and maintain USD, Euro, Canadian and/or Sterling accounts. Retirees who enter the country under the QRP Program offered by the Government of Belize can also qualify for this benefit while residing in Belize.
IBC's are 100% tax free and subject to favorable reporting and filing requirements. Meetings can be held worldwide and there is no exchange permissions required when converting funds.
Some benefits associated with the formation of a Belize IBC are as follows:
- Cost Effective
- Shareholding Confidentiality
- Exemption from Local Taxes
- Exemption from local exchange control regulations
- Dividends paid to shareholders are exempt from taxes
- No registration requirements for transfer of shares
- Formation with share capital in any foreign currency
- Ability to hold board meetings aborad
- Single or multiple share holders
- Single or multiple directors
- Limited Reporting Requirements
- Ability to utilize bearer shares
Belize IBCs are prohibited from carrying on business in Belize and from doing business with locals.
Time frame in establishing IBC - 1 - 2 Business Days