Not all offshore destinations are equally recommendable for company establishment, but Belize is one of the jurisdictions that you will never regret. Benefit from minimum requirements for company formation, low taxes, pro-business laws, and excellent asset protection opportunities, and open your company online using the services of our experts! Belize offers a peculiar legal framework that helps protect your assets in the best way possible: in particular, it does not recognize the decisions of foreign courts and makes it hard to win lawsuits locally, so your assets will remain intact in most cases.
If you want to find out all the peculiarities of Belize before you decide to set up a company, please visit our portal. Discover all the potential benefits of LLC formation in Belize (this is the legal form we recommend to all our customers) and take advantage of our knowledge base of practical articles. We write about the nuances of business establishment in different countries across the globe, the best banks where you can open an account for personal or corporate needs, citizenship by investment, investment in real estate, tax optimization and asset protection opportunities, and so on. You can get in touch with our specialist on the portal using the live chat during office hours or the contacts on top of the portal page to ask your questions. Book a free session to discuss your needs and get professional advice!
Reasons to Set Up a Belize LLC
Let’s look at the main reasons why we advise our customers to opt for a limited liability company:
- The liability of company members is limited by the number of shares they possess
- Belize LLCs are not required to get a local TIN
- If you derive 100% of your profits outside Belize, you are not liable for any local taxes
- The company can be fully owned by a foreigner.
- Belize LLCs do not have to comply with any economic substance requirements.
- You are not required to submit annual tax returns or hold annual general meetings.
- No minimum requirements are set for the authorized capital of your LLC, so you can start with USD 1 if you want to.
- You can plan the company’s activities and structure in various ways.
Belize LLC: Cost of Establishment
We are happy to offer a package of services that allows our busy customers to get a fully functional company in Belize with minimum personal involvement. Here is what the basic package worth USD 2,950 includes:
- Ownership Certificate(s)
- Certificate of formation
- Register of members
- Register of directors
- State registration fee
- Inaugural resolution
- Articles of Formation and Bylaws
- One set of original corporate documents
- Company registration
- Appointment of the first director
- Consent to act as a director
- Delivery of company registration documents to any destination by courier mail
- A registered office (or address) in Belize
There are optional services as well that are subject to a separate fee. For instance, you may request opening a separate bank account, finding a reliable nominee director for your company, notary services, obtaining a Certificate of Good Standing for the registry, and so on.
IBC vs. LLC
An LLC is not the only legal form you can set up in Belize, of course: another popular one is an IBC. Why do we recommend opting for an LLC? Here are the main reasons for that:
- An LLC can be established by just one non-resident individual
- LLCs are under no obligation to obtain a TIN, while IBCs are.
- No minimum share capital is set.
- LLCs are not subject to economic substance requirements.
- LLCs can use the services of nominee directors and shareholders in Belize.
- You can keep your accounting documentation in any country.
- An LLC is not considered a risky form of business under the new EU and OECD rules and regulations.
- You can hold an annual meeting of shareholders in any country.
- Finally, LLCs are not required to have their financial reports audited.
As you probably understand, IBCs are obliged to comply with all these requirements, which makes them a less convenient form of doing business if you value simplicity and freedom.
Belize LLC: Main Details
- All important corporate decisions are based on the members’ votes.
- LLCs are not subject to local taxes, duties, or exchange control.
- Each member of the Belize LLC pays the taxes on his/her assets as an individual.
- The personal information about the beneficial owners of LLCs in Belize is not disclosed, and the company is only required to submit the organization’s charter to the Registry.
- Simple and flexible business procedures. You are not required to keep annual reports or appoint auditors. All you need to submit is the company’s address and registered name.
- You can re-domicile your LLC and freely move it to or from Belize.
LLC Establishment in Belize: Requirements
- An LLC has to include at least one manager and one member, and these can be residents of any country, individuals or legal entities.
- Choose a name for your LLC that reflects its nature in the best way possible. Avoid restricted words, such as trade, insurance, banking, securities, and so on.
- There is no need to hire a secretary for your LLC.
- If all board members reside in other countries than Belize and all profits are generated abroad, your company is not liable for any local taxes.
- You are not required to declare your worldwide income, but you need to pay the annual renewal fee.
- You will need to engage a licensed registered agent to provide management services.
Belize LLC: Limitations
Here are the things that Belize LLCs are prohibited to do under the Belize International Companies Act 2011:
- Own any securities that belong to a local company
- Obtain profits from the residents of Belize
- Issue securities in the name of a resident of Belize
- Possess real estate as a sole owner
If some of these restrictions are critically important for you, do not hesitate to contact us – and we will find a solution together.
Want to quickly get a fully operational LLC in Belize? Take these 4 steps:
- Click on the above link to get in touch with us.
- Agree on the list of services you need.
- Provide the required package of documents.
- Pay the fee for our services.
And you will be able to start business operations in no time!