GENERAL
Belize, formerly known as British Honduras, is an independent country located on the Caribbean seaboard of Central America. It has an area of approximately 23,026 sq. km, and is bounded by Mexico to the north and Guatemala to the west and south. The administrative capital is Belmopan, but the major commercial centre is Belize City, which is located on the eastern coast close to the major international airport.

POPULATION
Of the total population of Belize is around 200,000 some 60,000 reside in Belize City. The country's population is ethnically diverse including descendants of the original Mayan culture and peoples of Caribbean, Caucasian, Chinese and East Indian descent.

POLITICAL STRUCTURE
Belize became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Since then it has been a stable, peaceful democracy, benefitting from its strong and efficient civil service developed under British rule Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement. Executive authority is exercised by the Cabinet under the leadership of the Prime Minister, subject to approval by a 28 member Senate. Both political parties are committed to the economic development of the country and the encouragement of overseas investment.

ENVIRONMENT AND ECONOMY
Belize is still largely unspoiled, with cays and a barrier reef to make it a popular destination for eco-tourists. Its clear, unpolluted waters are excellent for swimming, scuba diving and fishing. Its mix of unspoiled woodlands, caves, rivers, mountains, waterfalls and jungle shelter a wealth of Mayan archaeological sites. Forest reserves, wildlife sanctuaries, marine resort areas and the world’s only jaguar reserve highlight the people's committment to the environment. Agricultural and forestry products dominate exports while the offshore finance industry is becoming increasingly important.

LANGUAGE
English.

CURRENCY
Belize Dollar (BZ$).

EXCHANGE CONTROLS
Offshore activities are exempted from exchange control.

TYPE OF LAW
Common Law. Based on English Company Law.

PRINCIPAL LEGISLATION
International Business Companies Act, 1990 - International Business Companies (Amendment) Act, 1995.

COMPANY INFORMATION:

TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
International Business Company (IBC).

PROCEDURE TO INCORPORATE
Registered Agent delivers the Memorandum of Association and Articles of Association to the Registry together with the appropriate fee.

RESTRICTIONS ON TRADING
Cannot trade within Belize. or own real estate there. Cannot undertake the business of banking, insurance, assurance or reinsurance.

POWERS OF COMPANY
A Company incorporated in Belize has the same powers as a natural person.

LANGUAGE OF LEGISLATION AND CORPORATE DOCUMENTS
English.

SHELF COMPANIES AVAILABLE
Yes.

TIME TO INCORPORATE
One day, but a further two days are required for the release of documentation from the Registry.

NAME RESTRICTIONS
Any name that has already been incorporated, or is so similar as to cause confusion. Any name which in the opinion of the Registrar is considered undesirable, obscene or offensive. Names such as royal or imperial and any name which suggests the patronage of Belize Government.

LANGUAGE OF NAME
A Belize IBC can be incorporated using any language. Chinese language incorporations with Chinese documentation are very popular.

REGISTERED OFFICE REQUIRED
Yes, must be maintained in Belize at the address of a licensed management company.

NAMES REQUIRING CONSENT OR LICENCE
Bank, building society, savings, loans, insurance, assurance, reinsurance, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents or any name in English or a foreign language that may suggest association with the banking or insurance industries.

SUFFIXES TO DENOTE LIMITED LIABILITY
Limited, Corporation, Incorporation, Sociètè Anonyme, Sociedad Anónima, Gesellschaft mit beshränkter Haftung or the relevant abbreviations.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.

NORMAL AUTHORISED SHARE CAPITAL
The normal authorised share capital is US$ 50,000 divided in to shares with or without par value. The share capital may be expressed in any currency. The minimum issued capital may be one share of no par value or one share of par value.

CLASSES OF SHARES
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

BEARER SHARES PERMITTED
Yes.

TAXATION
IBC's do not pay any tax on world-wide profits to Belize authorities.

DOUBLE TAXATION AGREEMENTS
None.

LICENCE FEES

• Companies with an authorised capital up to US$ 50,000 pay the sum of US$ 100 per year.
• Companies with a share capital over US$ 50,001 pay the sum of US$ 1,000 per year.
• Companies, which have some or all of their shares with no par value, pay the sum of US$ 350 per year.

FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records which reflect the financial position of a company.

DIRECTORS
Minimum number of directors is one. Natural persons or corporate bodies. May be of any nationality and need not be a Belize resident.

COMPANY SECRETARY
A company secretary is not a requirement under the Act, but a secretary is normally appointed to facilitate signing obligations.

SHAREHOLDERS
The minimum number of shareholders is one

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