Set up company in Belize

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Belize became independent on September 21, 1981, established diplomatic relations with the Chinese Communist Party on October 1, 1987, and established diplomatic relations with Taiwan on October 13, 1989. Since the establishment of diplomatic relations between China and Belize, the two countries have friendly relations and stable friendships. It is a paradise for most Taiwanese choosing immigration.

Table of Contents

  • Company profile of Belize
  • The advantages and usage of setting up an offshore company in Belize
  • Registration and related regulations of Belize
  • Other records of the company
  • Compliance Inspection

 

Company profile of Belize

  • Belize is located in the northeast of Central America, bordering the Caribbean Sea in the east, Mexico in the north, and Guatemala in the west and south. Before 1981, it was a British territory (British Honduras). Its laws were based on the British Continental Law. The court mechanism is similar to the United Kingdom. Various commercial contracts and commercial laws are based on the British legal model.
  • Belize is a member of the United Nations, the World Bank, the International Monetary Fund, the General Agreement on Tariffs and Trade, the Commonwealth of Nations, the Caribbean Common Market, and the Caribbean Development Bank. Its international status is relatively higher than other shell corporations. Belize imitates the British Virgin Islands to quote the International Business Company Law, and also allows the establishment of international business companies registration.

 

  • According to the provisions of the International Business Company Law, the established company does not need to submit tax statements to the local government, nor does it need to set up accounts, as long as it is paid A fixed government fee is sufficient, so there is almost no tax burden.
  •  With many years of industrial and commercial experience, Inter-Area Professional Service Provider can pay attention/service to customers not only related to overseas company registration. Because Inter-Area Professional Service Provider has professionals who are familiar with overseas affairs from planning, registration, practical operation cases, related matters needing attention and also the latest information. Provide our customers with the most complete, fast and secure full service. The most important thing is on the background and purpose of the customer's practical investment. Different products and services generate the whole new experiences that determine future value.

 

The advantages and usage of setting up an offshore company in Belize

Belize’s company emulates the International Business Corporation Act of the British Virgin Islands; therefore, its advantages are similar to the British Virgin Islands, the main advantages are as follows:

  1. High confidentiality—The details of each director do not need to be included in any public record.
  2. High bank acceptance—Almost all foreign exchange designated banks in Taiwan to accept the establishment of the OBU account of Belize Company.
  3. Easy to set up-only need at least one shareholder/director's information to set up registration.
  4. Easy to maintain—the company does not need to submit annual statements and audit accounts, nor to convene an annual meeting. You only need to pay a fixed government fee every year to maintain the company's survival.
  5. Mainly positioned as a "transaction" company

It can also be used for investment holding, but it should be noted that its registered capital is insufficient, because its standard registered capital is USD 50,000, which is a relatively low registered capital compared to other offshore companies. however, when it comes to financing with banks, it can reflect better financial statements.

 

Registration and related regulations of Belize

  1. Company name in English. (You can also add Chinese, but you need to increase the license establishment fee of USD 100)
  2. Correspondence address in English.
  3. Copy of passport of at least one shareholder/director.
  4. The standard registered capital is USD 50,000. (You can increase capital, but the fee will increase).

 

✦ Amendment of Belize Decree

  1. Keep accounting voucher information for at least five years.
  2. The account voucher information shall be kept at the company's registered address or other location deemed appropriate by the director, but the registered agent shall be notified in writing of the actual address.
  3. If the address changes, the registered agent must be notified in writing within 14 days to renew the address.

 

✦Other records of the company

  1. Keep the following company records: minutes of directors 'meetings, minutes of shareholders' meetings, rosters of directors and employees, rosters of shareholders and other records of changes in shareholders, directors, and employees
  2. Record in detail the name/address / appointment/date/resignation date of each director and employee.

✦ Compliance Inspection 

According to the provisions of the company law, the personnel of the government registry can reasonably request to enter the office of the registered agent to check the files about the international business company during working hours.