- Belize International Business Company (IBC)
Belize IBC’s (International Business Companies) are formed under the Belize International Business Companies Act. This piece of legislation was initially adopted in 1990 and further extended and amended in 2000. A Belize IBC is a perfect corporate vehicle for international financial transactions, being especially designed with the offshore investor in mind. Belize’s laws facilitate fast and simple incorporation, and its modern and computerized IBC Registry is capable to process a company registration within one hour.
Belize IBCs are commonly used for Offshore Banking to conduct international trade, investment activities and for asset protection. The Offshore Company or International Business Company (IBC) is a tax-free Company. All of its profit-earning activities must be conducted outside Belize. A foreign company also has the option to continue under the law of Belize as an IBC and would still have all the benefits provided by law. IBC’s incorporated in Belize are often used by high net worth individuals to lease and own property, estate planning, tax optimization and also in conjunction with trust and by international companies in cross border transactions.
An IBC is exempt from tax in its home jurisdiction, it has extensive features protecting the confidentiality of its owners and is not subject to any onerous reporting requirements.
Please contact us if you need more information on Belize offshore corporations and related services – we will be glad to assist you!
- Belize International Limited Liability Company (LLC)
Theoretically, a Limited Liability Company or a LLC is a hybrid between two familiar business structures, namely, a corporation and a partnership. A LLC combines the best of both worlds by offering the advantage of both a corporation and a partnership without the disadvantages of either form.
A LLC, on the other hand, has distinct advantages over both a corporation and a partnership in that it not only avoids multiple level taxation, it also limits the liability of its members to the extent of the contributions made by them to the Company. No member of a LLC has personal liability for the debts of the LLC except where there are personal guarantees or other special arrangements. Moreover, LLC members, unless restricted by agreement.
Advantages of the Belize International LLC
- One Member can incorporate
- Exempt from all local taxes
- The LLC is a legal entity with separate rights and liabilities distinct from its members and managers
- Members are not personally liable for the debts, obligations or liabilities of the LLC
- Only judgments delivered by a court in Belize are enforceable against a LLC or any of its managers or members
- Members can fully participate in the management of the LLC
- Investment and Tax Planning
- No accounting/audit requirements
- International Trade (except in Belize)
- Hold assets/ship ownership
- Hold IBCs, Trusts and Foundations
Legislation – The Belize Act
The Belize International Limited Liability Companies Act, 2011 (“the Act”) is modelled on the Nevis LLC law of 1995 and the Cook Islands LLC Act of 2008. It is designed to give statutory certainty on some of the key issues of concern to US attorneys using domestic LLCs. The Act introduces several unique asset protection features consistent with the importance of this industry in the international market place. It is an ideal tax planning and asset protection tool and would be a useful addition to Belize’s offshore industry infrastructure.
Restrictions
- Belize LLC cannot carry on business with residents of Belize (including Belize Companies)
- cannot buy Real Estate in Belize (but can lend to Businesses in Belize)
- cannot operate as a Bank, Insurance or Finance Company
- cannot act as a registered office or serve as agent
Please contact us if you need more information on Belize offshore corporations and related services – we will be glad to assist You!
When forming a new business, the first thing you do is set up a business address. Get the support you need as you expand your business into new markets. Our virtual office services offer all you need to operate efficiently.
Benefits of having a virtual office:
- Call forwarding
- Receiving and forwarding local mail
- Local physical address
- Local telephone number
- Prestigious central location
- Access to a professional meeting room
We also provide the following services for an additional fee:
- Copying / Printing
- Document Scanning
- Document Binding
- Translation Services
We are able to assist our clients in establishing offshore accounts in the Country of Belize at any of the following International Banks in Belize:
- British Caribbean International Bank Ltd
- Choice Bank Ltd.
- Heritage International Bank Ltd,
- Atlantic International Bank Ltd,
- Caye Bank International Ltd.
Our Partners at Ally Professional Services Limited are able to assist clients in establishing offshore bank accounts within a day or two at any of the above-mentioned institutions once the necessary documentation is provided.
Please feel free to contact us if you require any further information regarding offshore bank services in Belize.
Offshore/International Bank Account Forms are available. Contact us today!
We are able to assist our clients in establishing offshore accounts in the Country of Belize at any of the following International Banks in Belize:
- British Caribbean International Bank Ltd
- Choice Bank Ltd.
- Heritage International Bank Ltd,
- Atlantic International Bank Ltd,
- Caye Bank International Ltd.
These above mentioned banks provide access to online banking and Belize international credit cards.
A Belize Merchant license is required for offshore companies wanting to sell their products and/or services outside the country of Belize. Customer credit card payments are processed via a website and funds are then credited to the merchant’s bank account established in Belize.
REQUIREMENTS
- Establish a Belize IBC (link to relevant page)
- Establish an Offshore bank account (link to relevant page)
DOCUMENTS REQUIRED
- Merchant Questionnaire (provided by the bank for pre-approval)
Once the bank has pre-approved the application, they will require the following:
- Merchant Internet Services Agreement (provided by the bank once application has been pre-approved)
- Merchant Information Sheet
- E-commerce Merchant Set Up Form
- Copy of Merchant’s website meeting all requirements along with ownership information*
- Copy of most recent Financial Statement for each Beneficial Owner
- Merchant Business Plan
WEBSITE REQUIREMENTS
- Merchant’s business trade name and corresponding registered domain name
- Merchant’s company information and location
- Complete description of products and/or services
- Commitment to process orders and send email confirmation to customers
- Statement advising cardholders to retain copy of their transaction record
- Refund/Return and Cancellation Policies
- Delivery Policies (if any restrictions to countries)
- Privacy Policies and Terms & Conditions of Use
- Customer Service contact information
- Country of operation
- Transaction currency – US Dollars
- Display of appropriate card acceptance
A Belize Trust offers maximum security in the world of asset protection. A Belize Trust can be had at a fraction of the price of those in other countries. The trust laws in Belize are a strong and flexible set of asset protection legislation that has made it one of the world’s best offshore trust formation jurisdictions.
A trust provides a great form of protection for your assets against wrongful seizure from creditors or the government, especially for those living in politically fragile countries or where exchange controls are heavily regulated.
ADVANTAGES
- Asset protection
- Foreign court and governments have no jurisdiction over an international trust
- Legal claims must be made within Belize
- All business transactions may be conducted electronically
- Clear separation of legal ownership
- Custodian trustee permitted
- Trust deeds are not publicly registered
- A trust may be formed by oral declaration or written instrument
- Many various forms of investment opportunities
- Flexible trust structure
- English law against perpetuities does not apply
- Trustee appointment/removal/change are flexible
- Sole Trustee ownership is available
- Bank Accounts can be opened under the name of the Trust
- Airtight fraudulent conveyance laws
- Permits a non-common law settlor to create a trust that is peculiar to his/her law, religion, or nationality
- The Belize International Trust Registry is not open to the public
- Charitable and non-charitable trusts are allowed
- A Belize Trust can be moved from Belize to another jurisdiction and vice versa
REQUIREMENTS
- Name of Trust
- Date of settlement and registration of the trust
- List of beneficiaries and their addresses
- Name(s) of Trustee(s)
- Name of Protector (if any)
- Copy of passport biographical page
- Address and contact information of all parties to the Trust which includes Settlor, Beneficiaries, Trustee and Protector
There are two types of offshore banking licenses granted in Belize: Class A and Class B.
A Class A banking license has virtually no operational restrictions but does require a minimum capital investment of $3,000,000 USD. The Class A license costs $20,000 in fees annually.
A Class B license requires $500,000 USD in capital investment but includes some restrictions like not offering checkbooks to depositors. The Class B license costs $15,000 annually.
DOCUMENTS REQUIRED
- Application for Offshore Banking License
- Unrestricted ‘A’ Class; or
- Restricted ‘B’ Class
- Biographical Data of Directors and Officers
- Financial Report for Directors and Officers
- Two Character Reference for each Director and Officer
- Police Report from state or country of residence in the past 3-5 yrs. for each Director and Officer
- Letter of Recommendation from a financial institution for each Director and Officer
- Audited Company Reports for the past 3 years
- Application for local Corporation for preliminary work and for submission
- Application for International Business Company (if necessary)
- Business Plan
- For both Class A and Class B, a Physical Office is required in Belize
- Financial Statements are to be audited and physically verified by Officers of the Central Bank and International Auditors
- A minimum of five Directors is required
- Resume for each of the proposed CEO and Directors
- The CEO and minimum of one Director must be qualified and experienced in Banking, and International and Offshore Banking
- A Local Representative/Spokesperson will be required
- A Local Attorney and CPA with Offshore Business experience
Our company has provided efficient, and professional Escrow services to many international and local clients.
Escrow is a legal arrangement in which an asset (i.e. Cash, or any other tangible asset) is deposited into safe keeping under the trust of a neutral third party (escrow agent) pending the completion of an arrangement made under a contract.
Once the parties have completed their duties under the contract, the escrow agent will deliver the asset to the party prescribed by the contract.
Fees:
| Preparation of Escrow Agreement | USD $250.00 |
| Administrative Fees | USD $50.00 |
| General Sales Tax (12.5%) | USD $25.00 |
| Total | USD $275.00 |
These prices are subject to sales tax, administrative fees and filing fees.
Private foundations in Belize may carry out businesses, may commercialize, purchase, and sell properties, sue and be sued, enter into contracts, open bank accounts and keep assets in their own name. Foundations in Belize may be set up by one or more persons or by a company with one member of the board.
ADVANTAGES
- Foundations in Belize may be used with or without charitable purposes, with specific aims or without any defined purpose.
- When a foundation is not used mainly for charitable purposes, it is considered to be a charitable foundation (without limits, no matter the amount). This is advantageous if the foundation is operating in a jurisdiction that offers refunds for taxes, credits, or discounts to charitable foundations.
- Belize foundations may not be annulled or repealed (by resolutions of other jurisdictions) and they are not liable from foreign trials.
- Processes and other issues derived from confrontation implying the participation in the foundation may be resolved through arbitration (may be resolved outside the courts).
- Belize foundations may exist in perpetuity without limits to the duration of the foundation.
- They are exempted from all taxes as long as the founder and the beneficiaries are not resident and the property and interests are not located in Belize.
- They have the same consideration as companies and usually they are known as corporative entities.
- Assets given as royalties to a Belize foundation constitute personal assets independently of the founder.
- They may carry out any civil or commercial transaction, except for activities that are not authorized in Belize or any business of financial services (unless the required license has been obtained).
- They may be dissolved on advice of the foundation if such powers have been authorized.
- They have no excessive service costs.
- You do not have to be in Belize in order to register your Foundation.
REQUIREMENTS
- Have a registered agent in Belize.
- Have a resident secretary (who will appoint the resident agent to act as a secretary).
- Have a board of the foundation with one or more persons, either natural or legal.
- Keep a register of the Board members, the guardian, the secretary, the beneficiaries, and the auditor (if necessary) which will be in the custody of the secretary or registered agent.
The first step to building your portfolio is to open a brokerage account. These accounts allow you to purchase stocks, bonds, mutual funds, and other investments by paying professionals to buy or sell the items you tell them to. Once you have opened an account, you have the ability to start investing your money. All brokerages give you the option of setting up automatic monthly withdrawals, which will transfer an amount you specify each month from your savings or checking account to your brokerage account. This can be an easy way to start building up your equity; if you don’t see it, you won’t spend it. Since you won’t notice the money that is missing each month, saving will be relatively painless.
E-commerce merchant service is a service that allows Internet businesses to accept Visa and MasterCard credit cards via the Internet as a form of payment for goods or services anywhere in the world. It provides an easier method for clients to shop over the Internet and allows merchants to sell their goods and services to a global market, thus make life easier for both the clients and merchants.
Please feel free to contact us regarding establishing a Stock Trading Account in Belize.
Total corporate transparency is a critical requirement for a fairer society. Our Tradex services ensure that you know exactly who you’re working with – and working for. Our services help tackle corruption and criminality, protect our democracy, create a trusted business environment we’ll want to work in – and a society we’d all aspire to live in.
We live in a corporate world – corporate entities now touch every part of our lives. The complex networks that form banks and financial companies; global tech giants that mediate our lives; shell companies used for money-laundering, organized crime and corruption – understanding this is critical to free and fair societies and the rule of law, as well as good business.
Contact us today for valuable Tradex information to help you navigate those difficult technical, data, business and policy issues affecting your business environment.
We offer investors around the world the opportunity to buy precious metals and store them securely providing them with a financial safety net that isn’t tied to any one particular currency.
BENEFITS
- Assets are protected from government intervention
- Assets are protected from account freezes or from unlawful seizes by a third party
- Assets aren’t tied to any one particular currency
- Allows you to be financially secure and protected from devaluation
- Offers future financial security for your loved ones