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.
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Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income
Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.