Belize is a preferred location for setting up an offshore company because of its very advantageous taxation principles and the laws related to financial privacy for foreign investors.
The characteristics of a LLC in Belize
The limited liability company is a type of business entity established by one or more individuals. There are no restrictions on the nationality of the company owners and there are no requirements for LLC managers in Belize to have a certain nationality.
Foreign investors may choose the name of their company in any language, if it does not infringe an existing company name and if they observe the local requirements for company names and for prohibited names.
An advantage of the LLC in Belize is that there are no requirements to disclose the identity of the company founders/beneficial owners. This type of information is not recorded in the Companies Registry and it is not made available to the public.
Belize laws allow for a great degree of financial privacy for limited liability company owners and there is no foreign exchange control.
Taxation, accounting, and reporting for a Belize LLC
Exemption from taxes is one of the main reasons why foreign investors choose to open an offshore company in Belize
and choose the limited liability company. The LLC is exempt from income tax, capital gains tax and dividend tax. An annual renewal fee for companies applies in Belize.
LLCs in Belize are required to keep accounting records, however, they may be stored in any location, not necessarily in the country.
If you are a foreign investor and wish to know more about how to open offshore company in Belize you can reach out to one of our local experts.