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Articles
Open a Crypto Company in Belize
Updated on Thursday 15th December 2022
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Investors who open a crypto company in Belize follow the straightforward rules for incorporation and, when they offer their services
While there is no requirement to obtain a crypto license in Belize, companies that provide services related to virtual currencies are required to observe other general rules.
Some of the most important regulations in place concern the incorporation of a company that will trade either outside of Belize or will also offer services within this jurisdiction.
Under the International Business Company (IBC) regime, businesses that engage in certain types of activities can be completely exempt from the business tax. Otherwise, a low tax applies to their activities, depending on their gross income.
You can read below more about the general incorporation requirements, as well as the crypto license in Belize.
You can always reach out to us for details about company formation in Belize.
| Quick Facts | |
|---|---|
| Cryptocurrency seen as legal tender (Yes/No) |
No |
|
Local regulatory agency |
International Financial Services Commission (IFSC) |
|
Special licenses for those who open a cryptocurrency company in Belize |
No |
|
Special licenses for crypto exchanges in Belize |
No |
| Anti-money laundering rules | Generally applicable |
| Special requirements for investors who open a cryptocurrency company in Belize |
No |
| Residency requirements for investors |
No |
| Types of companies used by those who open a cryptocurrency company in Belize |
The Belize International Business Company (IBC) for conducting business only outside of Belize (offshore company) The Limited Liability Company (LLC) for conducting business in and outside Belize |
| Minimum capital for a cryptocurency company in Belize | Not applicable |
| Minimum number of shareholders | 1 |
| Minimum number of directors | 1 |
| Business license | Issued upon registration with the Register of International Business Companies |
| Mandatory requirements for the cryptocurrency company | Registered office located in Belize and a registered agent in Belize at all times |
|
Cryptocurrency company taxation |
Not applicable for trading that occurs outside of Belize when the legal entity is an IBC |
| Reasons to open a cryptocurrency company in Belize | Tax exempt (when doing business outside of Belize), no nationality restrictions, no residency requirements, no stringent laws or regulations for virtual assets trading and activities |
Company formation in Belize
For investors who open a crypto company in Belize, the following steps are relevant:
- Register the business name: the proposed name needs to be unique and a name check can be performed in order to ensure its availability;
- Prepare the company documents: the IBC or private company (according to the needs of the investors) have their incorporation documents prepared to include information about their shareholding structure, type, duration, scope and other governing issues;
- Register the business: the new company is registered with the Belize Companies and Corporate Affairs Registry; the Trade License will be issued as a result thereof;
- Handle the post-registration steps: these include opening a bank account, making arrangements for employment, and others.
As detailed below, there is no need to apply for a crypto license in Belize with the relevant regulatory agencies, however, the recent changes in the tax and reporting regime for IBC companies and other business forms are notable.
Investors who wish to open a crypto company in Belize can find out how their company will be taxed with our help.
Our team of accountants assists foreign investors who open a company in Belize and require information and services related to the filing of returns.
The crypto license in Belize
The International Financial Services Commission (IFSC) in Belize does not impose regulatory requirements for virtual currencies such as cryptocurrencies and, as a result, it is not the regulator for these types of companies.
As investors who open a crypto company in Belize are not required to register with the IFSC, they cannot unlawfully present as having been registered and authorized by the Belizean authorities for this purpose.
We invite you to watch the following video on crypto company creation:
Cryptocurrency statistics
According to a 2021 report, it is expected that the number of crypto owners worldwide will reach 1 billion by the end of 2022. Other data shows that:
- - The world crypto population increased by 178% in 2021;
- - It grew from 106 million in January 2021 to 295 million in December 2021;
- - The overall adoption growth in the second half of 2021 was of 37.5%;
- - Bitcoin and Ethereum remain the two most important cryptocurrencies, however, the first outperformed the latter in the second half of 2021;
- - Other competitors are emerging and the market remains an evolving one.
Starting a cryptocurrency company in Belize can be a good choice for investors, due to the simple set up process as well as the absence of a mandatory crypto license in Belize.
Investors who wish to open a crypto company can rely on the assistance of our lawyers in Belize. We provide legal representation as needed, as well as legal counsel in a wide range of legal matters including but not limited to company formation, contract law, hiring employees, Belizean taxes, director liability, as well as other issues concerning individuals who wish to remain in the country.
Contact us if you want to know more about company formation.
If you want to open a crypto company and wish to acquire Belizean residency, you should know that you can gain temporary residence if you have made or are in the process of making a substantial investment in the country. If you are willing to remain in Belize for a long period of time you can also apply for permanent residence if you have lived here for one year.
Our team also offers services related to immigration.
Meet us in Belize
Call us now at +230 5252 6703 to set up an appointment with our business consultants in Belize. Alternatively you can incorporate your company without traveling to Belize.
As a BridgeWest client, you will take advantage from the joint expertize of local company formation agents and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Belize.
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