A Belize International Business Company is formed under the 1990 Belize IBC Act and is considered one of the most modern and user friendly offshore jurisdictions available. A Belize IBC is an ideal corporate vehicle for international financial transactions, as the regulations and processes have been designed with the offshore investor in mind. Belize’s laws facilitate fast and effective incorporations and are the ideal jurisdiction for small, start-up international businesses.
There are a number of benefits attached to incorporating a Belize IBC.
These are listed below:
- The time scale of incorporating a Belize IBC very quick taking approximately 2 business days to incorporate an offshore company (appostille of Belize company incorporation documents takes up to 3 working days which follows the incorporation of an offshore company in Belize).
- Low cost of a Belize company incorporation (it is only USD $930, including all government fees, a Belize company incorporation set with appostille, rubber stamp, first minutes and courier delivery) and maintenance (USD $450 paid annually, including registered office, registered agent and government fees).
- Belize IBC’s offer a high degree of privacy. Client confidentiality is entrenched in business and corporate legislation. In terms of potential risk of information disclosure to foreign governments Belize is probably one of the securest and most confidential of offshore jurisdictions.
- No tax at all except for annual government fees (USD $100), which has to be paid on time to keep a Belize offshore company registered.
- Belize IBC’s are free from any reporting requirements including annual audits.
- No requirement for a company secretary.
- A bank account can be open for an offshore company in Belize without Directors being present.
How Initial Coin Offerings Differ from Initial Public Offerings
Since the hectic and intense ecosphere of the cryptocurrency ventures conception, a new sphere has caught investors’ attention from all over the world, being coined ICOs or Initial Coin Offerings.
Reasons for the Prevalent Misappropriation of Public Funds by Officials in CIS Countries
Thorough analysis of the nature, content and determinants of the offence of misappropriation of public funds by officials, it gives grounds to reach the conclusion that a lot of different reasons somehow ‘provoke’ and ‘give the possibility’ to commit this offence.
Notional Interest Deduction: A Useful Tool for Cyprus Companies
The corporate income tax rate of a Cyprus-resident company is 12.5% on its global taxable revenue, with unilateral credit for related foreign tax suffered. Moreover, non-Cyprus residents are not liable to pay Cyprus withholding taxes on payments. Frequently, the effective corporate tax rate is much lower, or even as low as nil, due to various tax exemptions and allowances.
How Cyprus is Retaining its Competitive Edge as a Favourable EU Jurisdiction for Tax Purposes
The recent implementation and increasingly stringent tax developments globally can affect companies with offices in different countries; rendering them non-viable if certain factors are not carefully considered.
The Legal Consequences of the Unlawful Transfer of Personal Client Data to Third Parties: UK Case Study
As per English common law, banks are liable to both criminal and civil proceedings. According to the case of Bank of Scotland v A, banks have an ability to choose between criminal and civil liability in litigation with their customer. Nevertheless, ‘the last bit’ of this choice has to be decided by the court.
Dormant Companies: A Definition by the Cyprus Inland Revenue Dept
Following Circulars No.2011/11 and No.2011/5, this article will explain what a "dormant company" is, its symptoms and consequent requirements. The following is an extract from PART 1.7 of the "Company Income Statement" form (EP 4), whereby a definition of a dormant company is considered to be a company that meets the following conditions:
How to Effectively Use Software to Improve the Purchasing Process Within your Company
Companies all over the world rely on controls over expenditure at the point of logging a supplier invoice or receipt, which over time can cause difficulties in producing timely and reliable account management.
Information Security & Factors that Contribute to Data Leakage in the Ukrainian & UK Banking Sector
One of the most important regulatory banking documents on information security is the Regulation on bank secrecy and confidential information, which exists in every bank. This document entered into legal force by the banking sector’s order.