Belize – Procedure of Incorporation

Incorporation of a Belize IBC is very efficient and can be completed within a matter of days. The International Business Companies Act (1990) provides the legal framework for the incorporation of a Belize IBC.

The summary below provides an overview of the process and the documents required.

• To form a Belize IBC an application form must be completed, signed and scanned containing information about a preferred name, details of directors and details of shareholders
• A beneficial owner declaration to be filled in, signed, scanned and sent to Eltoma
• A scanned copy of the passport for the directors and shareholders is required
• A scanned copy of proof of residence (utility bill, bank statement or bank reference not older than 3 month)
• At this point Eltoma will confirm the company name availability and issue an invoice
• Upon receipt of money Eltoma will start the Belize Company Incorporation Process. It takes approximately 5 working days to fully incorporate an offshore company in Belize and up to 5 working days for a courier delivery
• At the beginning of every year Eltoma will issue an annual invoice for US$400 to cover renewal fees

Company Administration Guidelines:

Share Capital:

• The minimum paid in and issued in capital may be one share which is fully paid
• Shares may be issued with or without par value
• Shares may be issued in bearer form and transferable by delivery (adding to the confidentiality) and may be issued in any currency
• Shares may be paid up through the transfer
• Only one shareholder is required, does not need to be a local and can be an individual or corporate body
• A director and shareholder may be the same person
• May use a nominee to protect privacy

Directors:

• Only one director required, does not need to be a local and can be an individual or a corporate body
• A director and shareholder may be the same person
• May use a nominee to protect privacy

Restrictions on Name & Activity:

• A Belize IBC is restricted from doing business with Belize residents or Belize Corporations
• The name of the company must contain one of the following; Limited, Ltd, Corporation, Incorporated, Society Anonyme

Local Requirements:

• A Belize IBC must have a registered office in Belize. Eltoma can provide a registered office
• Is permitted to maintain a staff and conduct business incidental to its existence if required but must actively engage in business in Belize
• There is no requirement for a secretary in Belize
• There is no requirement for shareholders and directors meetings

Confidentiality:

• The documents for Belize Offshore Incorporation do not carry the name or identity of the beneficial director or shareholder. The names of the beneficial owners do not appear on public record
• Nominee directors and shareholders are permitted to ensure confidentiality

Timescale:

• The approximate timescale for company incorporation is 5 days