International Business Companies

As an additional effort to attract investment, the Government of Belize has also enacted laws to allow for the importation and operation of International Business Companies under the IBC Act of 1990. It is recognized generally as the most modern and attractive piece of legislation of its kind in the Caribbean, and is tailor-made to meet the needs of the international investor. The advantages offered by the Belize Act are as follows:

• Total exemption from all forms of local taxation including stamp duty
• Speedy and simple incorporation for fast reaction to instant planning needs
• Only one subscriber and thereafter one shareholder (who could be corporate) is required
• IBC's may have only one director. Directors can be corporate and need not be resident in the country
• Meetings of shareholders and/or directors may be held in any country, at any time, and they may attend by proxy
• Bearer shares may be issued. No accounts or information pertaining to the identity of shareholders or directors need be filed on public record
• An IBC's register of shareholders is available for inspection only by shareholders or by order of the Belize courts at the request of a shareholder
• Shares can be issued without par value
• Minimum capital requirements
• Limited filing requirements, mainly certificate of incorporation, memorandum and articles of association, registered office and name and address of registered agent
• Wide range applications
• IBC's can be used for financial management, investment holding, ship or property ownership, share ownership of other companies, leasing of assets, copywriting and/or licensing as well as general commercial trading
• No exchange control
• Private label company availability
• An IBC is not subject to mandatory auditing or minimum capital requirements
• An IBC is not subject to Tax Treaties or Exchange of Information Agreements with any country
• The officer and Directors of an IBC need not be shareholders
• There are no citizenship or residence requirements for directors, officers or shareholders
• There are no requirements to file any corporate reports with the Government regarding any offshore activities
• The records of the corporation shall be maintained at the registered office
• An IBC is not subject to currency restrictions of any type.