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7 Facts You Should Know about Belize

Updated on Monday 02nd July 2018

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7-Facts-You-Should-Know-about-Belize.jpgBelize, once known as British Honduras, became an independent member of the Commonwealth in 1981. This small Caribbean paradise has much to offer to tourists and entrepreneurs alike. 
 
Here are 7 facts you should know about Belize, presented by our agents who specialize in Belize company registration
 

1.  English is an official language

 
Belize is the only country in Central America with English as its official language – an important consideration for foreign investors.
 

2.  The legal system is also of English influence 

 
The legal system is based on the English Common Law. The Supreme Court has jurisdiction on all criminal and civil cases and the Privy Court has its seat in the United Kingdom. Our Belize company formation agents can help you with detailed information about the courts and laws for doing business in the country.
 

3.  The population is diverse

 
The country’s geographical location on the eastern coast of Central America allowed its people to become culturally diverse. Today, the country has a small population but a multi-cultural one.
 

4.  Belize managed to rethink its financial services industry

 
The launch of the International Business Company had a tremendous importance for the positive evolution of Belize’s financial services industry. It allowed the country to establish an attractive tax-free regime and position itself among other offshore jurisdictions.
 
The following types of business entities described in the list below are commonly used by foreign investors:
  • The IBC: the International Business Company is the most commonly used because it allows a tax-free regime.
  • The International LLC: a well-received business form, this legal entity is a mix between the partnership and the corporation.
  • The Trust: a business structure that relies on a fiduciary relationship, it can be successfully used for asset protection.
  • International Foundation: a business entity with a legal personality that can be used for charitable or business purposes.
 

5. Investors have various options for entering the financial services industry

 
Belize’s financial services industry is an important economic pillar. Some of the licensed services include international insurance, Forex trading, international banking, payment processing services, money brokering and exchange and many others.
 

6. Belize is a tax haven

 
Belize is considered a tax haven because it does not impose taxes on corporate income and has very light accounting and reporting requirements. What’s more, the country also has a high degree of investor protection. These are all important reasons why investors choose to open an offshore company in Belize.
 

7. Belize has the best of both worlds

 
It’s not just the financial services industry in Belize. It’s also its picturesque Caribbean beauty that makes it an attractive country. You could say that Belize is a destination that manages to mix business with travel.
 
For complete information on how to open a company in Belize, please do not hesitate to contact us. Our agents who specialize in Belize company formation can help you open an International Business Company.  
 
 

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