Belize Company Formation
If properly-structured, Belize company formation is an ideal, tax-efficient way for international business people to conduct international business. The following information will help you determine whether Belize company formation is the optimum corporate structure to fulfill your international business objectives: |
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Advantages of Belize Company Formation |
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| 1. | A Belize international business company (IBC) is commonly used by international entrepreneurs to hold real estate assets outside Belize, or to collect commissions, royalties or dividends. |
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| 2. | In accordance with the Belize Income and Business Tax Act, the international profits of a properly-structured Belize IBC are legitimately tax-exempt. There is no dividends tax, or tax on other distributions paid by the company to persons not Belize-resident, and there are no capital gains taxes. Because Belize is a trading jurisdiction in its own right, with a diversified economy, it is not perceived as a tax haven. |
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| 3. | Belize committed to complying with OECD guidelines in 2002 but remains on the Organisation for Economic Cooperation and Development (OECD) ‘grey list’ as the OECD judges Belize to have not yet implemented legislation to enforce compliance. Belize does not comply with the Financial Action Task Force (FATF) either. |
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| 4. | Belize company formation is cost-effective and quick, with low government business registration fees. The annual government fee is US$100 for an IBC whose authorised capital does not exceed US$50,000. For an IBC whose authorised capital exceeds US$50,000, the annual fee is US$1,000. Belize company formation has no minimum paid-up capital requirements. |
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| 5. | A minimum of one shareholder and one director is required for Belize company formation. The shareholder and director can be the same person, and need not be resident in Belize. Corporate shareholders and directors are permitted. |
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| 6. | Following Belize company formation, an IBC is not required to submit annual tax returns or audited financial statements. |
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| 7. | It is easy to open global corporate bank accounts to support Belize company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Disadvantages of Belize Company Formation |
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| 1. | Foreign investors planning to use their IBCs for merchandising, real estate, insurance, transport, tourism, accounting and legal services, require a special licenses from the Belize government. Belize is negatively ranked as the world's 79th freest economy in the Heritage Foundation’s 2010 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets. |
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| 2. | Information on shareholders and directors is not available for public inspection following Belize company formation. |
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| 3. | Belize is negatively ranked as the 99th least corrupt country in the 2009 Corruption Perceptions Index by Transparency International. |
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Contact Us |
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For more information on Belize company formation, email email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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