BELIZE INTERNATIONAL BUSINESS COMPANY (IBC)
Belize is a very reputable offshore jurisdiction, that has gained momentum in recent years for its inexpensive and quick, yet effective and protective, offshore IBCs. Belize is a Central American country, with a robust offshore environment, with English being its official language. Belize is very well accustomed to setting up offshore companies and trusts, and you are in good hands to start a business in Belize. The banks in Belize are very willing to offer merchant account solutions, meaning you can charge your customers credit cards.
Belize has a very quick incorporation process. Your offshore IBC can be set up in a matter of hours.
Under the Article 130 of the Belize IBC Act, Belize IBCs pay NO TAX in Belize, with only a few simple pre-conditions, including that no business is conducted IN Belize by the IBC.
Belize IBCs are free from any reporting requirements.
A Belize IBC is for all legal purposes a separate legal person, and possesses the same commercial rights and powers as a natural person.
Belize has an outstanding record of peace, democracy and stability. The country has not been involved into any conflicts or civil disturbances.
Belize does not disclose its banking or fiscal information under any information-exchange agreements to any foreign parties on grounds of suspected tax evasion. Client confidentiality is robustly enshrined in the Belizean corporate and business legislation.
In terms of potential risk of information disclosure to foreign governments (including the U.S.), Belize is arguably the most secure and confidential offshore jurisdiction.
Belize is the only country in Central and South America having English as the official language.
Belize LLCs were recently passed into law. LLCs are similar to IBCs, except they have membership interest, rather than shareholder stock.
Some Benefits Afforded To Those Who Set Up Belize IBCs
Complete anonymity and privacy for your Belize IBC.
Outside of U.S. court jurisdiction.
Perfect for protecting liquid assets, such as investment portfolios or cash.
Ideal for business owners who want to operate offshore businesses.
Ideal solution for protection of high risk assets.
Perfect for merchant accounts and credit card processing.
Perfect for someone wanting to purchase investments not available to US citizens.
One year of service of a registered agent and registered office.
Preparation, filing and execution of the 'Memorandum of Association' with the Registrar of Companies in Belize.
An operating agreement prepared by asset protection legal representatives..
THE SETUP PROCESS
Application form is submitted with the IBC preferred name.
Corporation documents may be in any language. The company name shall include the word(s):
Limited, Corporation, Incorporated, an equivalent, or an abbreviation thereof. Additionally, details of the beneficial directors and shareholders must be included such as nationality, country of residence, address, and profession. Other details, such as a professional recommendation or reference are also required.
Due Diligence Documents
The following must be prepared for each and every beneficial director and shareholder:
Scanned and notarized copy of the passport or country issued ID card, notarized or certified by a lawyer, notary public, or banker.
An original proof of residence showing the name and address of the individual is required. Can be a utility bill, telephone bill, or credit card bill, which is dated within the last three months.
An original letter of introduction is required. This letter can be from a bank, lawyer, accountant or similar profession.
Is registration of the IBC private?
Yes, there is no way that another person or government can search for your entity.
Is there any tax on Belize IBCs?
No. Belize IBCs are exempt from any taxes.
What if there is a nominee director, can they go to the bank and say "I'm an owner of this company?"
For a number of reasons, the answer is no. The director is not an owner of the IBC...the shareholders own the IBC. A nominee director does not need to be given any power, and will not be granted any power unless specifically authorized by the shareholders.
All the signatures of the shareholders are needed to open a bank account.
No funds can be added or taken out without the consent of all shareholders, or in other words, the signatory on the account.
Unless you are a signatory on the account (which the nominee director can not do) then you cannot access the account, and the bank will not even talk to you.
In essence, you need the signature of all of the shareholders to alter the account, or to create the power for one person to alter the account.
Can my funds be frozen or seized by my government?
No. Belize company law has specific provisions to ignore any proceeding in any court outside of Belize.
Are there any exchange controls in Belize?
No. Funds move freely in and out.
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