The Belize International Business Companies Act
governs the formation of companies in Belize and sets forth the characteristics and the requirements for the International Business Company, a type of legal entity widely used for offshore company formation in Belize.
This document represents the framework and main legislative resource for incorporating an offshore company in Belize and one of our agents who specialize in Belize company formation
can provide you with adequate information about any of the parts of the Act and its amendments.
The IBC rules and regulations treated in the Act
The list below includes the main chapters treated in the Act:
- the constitution of companies: the incorporation and restrictions thereof, the requirements for the IBC, the business objects, the name and the constitutive documents needed to form the company.
- the capital: the third part of the Act discusses the manner in which investors can allot shares and the requirements for the company’s capital.
- the registered office: the conditions that must be met to have a registered office in Belize as well as a registered agent.
- the directors: information about the company directors, their election, term, and removal as well as issues concerning conflict of interest.
The Act also contains several parts on the manner in which company mergers can take place, how the continuation of a company can be established and how an International Business Company in Belize
can be wound up.
The exemption from tax, one of the main traits of the Belize IBC is also outlined in the Act.
Amendments to the IBC Act
A number of amendments were brought to the International Business Companies Act and these concern the elimination of bearer shares, the obligation to maintain the register of directors and that of the beneficial owners and the option to be subject to income and business taxes (and file an annual tax return).
Belize is a location that offers an attractive business environment and the IBC Act is one of the legislative documents that have increased its overall attractiveness as an offshore location.