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.
Have the Many Benefits of Offshore Banking Left the Industry Open to Abuse?
The overseas banking industry is a billion-dollar business. Its no surprise that during the last decade, criminals have discovered ways to circumvent and exploit the system, ultimately giving the offshore world a bad reputation. This article looks at the many benefits associated with overseas banking; and how this has left the industry open to abuse.