- Processing Fee for Local Corporation$500 USD
- Administrative Fee $50 USD
- Application for Central Bank$150 USD
- General Sales Tax$75 USD
- Total Processing Fees$775 USD
- Incorporation & Filing Fee to the Gov$375 USD
- Total Fees Due$1,150 USD
Formation of Companies in Belize
Chapter 250 Companies Act of Belize
Requirement for the creation of a Local Corporation in Belize
The formation of a local company in Belize is very easy and available to both locals and internationals. It is considered by many as the first step to obtaining a Belizean citizenship.
Owners and Directors of the local company will be considered as investors and as such are able to obtain their work permit and in a year time acquire Belizean Residence. After 5 years of acquiring a Belizean Residence, one can apply for Belizean Citizenship.
We here at Buy Belize do specialize in incorporation and annual maintenance/filing of Local (“LTD”) and International Business Companies.
The companies Act, Chapter 250 of the laws of Belize provides for the formation of limited liability companies. Local companies may carry out unlimited activities provided that the objects in its memorandum of association are drawn sufficiently wide to encompass an array of services. These companies unlike International Business Companies (IBC) are free to carry a on business locally in Belize and Belize residents are free to own shares. International Clients are also entitled to be shareholders of local companies; however, we must first apply for approval from Central Bank. This is simply a matter of procedure and is completed within a few days.
We advise all of our clients who wish to own property or do business in Belize to do so through the medium of a limited liability company. This medium provides security and protection to both its shareholders and directors. Separate legal status/entity is a vital and recognized aspect of Belize law. When properly structured the local corporation can provide Asset Protection, Tax Minimization and Confidentiality.
For us to prepare your corporation we would require the following:
- Name of Corporation
- A Secondary Name (if the above name is not accepted)
- Address of Company (We can provide an address if needed)
- Type of Service
- List of Directors – Names and Addresses (Can have one Director)
- List of Shareholders – Names and Addresses
- Color Copy of Passport of each Director and Shareholder Notarized.
- Distribution of shares amongst Shareholders
- Company Officers e.g. Chairman, Treasurer, Secretary, General Manager
- Subscribers (this will be provided)
All local companies are required to file for annual returns in the prescribed forms which set out the basic details of the directorships and shareholdings every year. As the registered agent of your company we are able to provide this service to you. Please feel free to contact us regarding information regarding this service and our fees.
The company may be formed within 2 business days of receiving the application form and payment from the client. Note: We will require an additional 4-5 days for the approval of Central Bank (if required) Once the company is formed we will provide you with the following documents.
- Original Certificate of Incorporation
- Certificate of Compliance
- Copy of Memorandum of Association
- Copy of Article of Association
- Resolution for transfer of shares to shareholders from subscribers
- Allotment of shares
- Share Certificate
- Resolution of First Directors
- Resolution of First Officers
Our fees for establishing a local company are as follows:
Our Fees for the Annual Report:
The annual reports are mandatory and must be filed annually as indicated above to keep the company in good standing: Note: Penalty fees are applied by the Government for late filing.
Our fee for annual returns: $250 USD
We are able to provide you with our Registered Office Services for a fee of $150 USD
Upon request we are able to provide our clients with nominee services with respect to Directorship positions and/or shareholders.
We accept Visa, MasterCard, Bank to Bank Wire Transfer, Checks and International Money Order for payment for our services.