Business entities in Belize

Business entities in Belize

Healy Consultants will be pleased to assist our foreign Clients to set up an offshore company in Belize. Our Firm can also assist to form a limited liability company, for those amongst our Clients interested to run operations in the country and/or trade with locals.

The Belize offshore company (Belize IBC company)

    Belize business
  • It is possible to set up a Belize offshore company with only i) one shareholder and ii) one director, who can both be foreigners and are not required to reside or travel to Belize in order to register the company with the International Business Center of Belize. The minimum capital requirement is also only US$1. The company will merely be required to provide a local registered address and to appoint a company secretary, which both can be provided by Healy Consultants;
  • Offshore companies are totally exempt in Belize from corporate tax and withholding tax. Information regarding their shareholders and directors are not available to the public and they are not required to file financial statements with the IBC registrar. They are however forbidden to trade with Belize or hold real estate and other types of assets in this country. They are also required to obtain a license with the International Financial Services Commission of Belize before providing financial, insurance and other regulated services to their global Clients.

The Belize limited liability company (Belize LLC)

  • The Belize limited liability company requires i) at least 1 shareholder at incorporation, who can be of any nationality and country of residence and ii) only US$1 of share capital. There is no requirement to appoint a resident director, provided that a company secretary is appointed;
  • After Belize business setup and approval of its trade license by the local town council of the city of incorporation, the company is allowed to trade with residents and conduct productive operations in Belize. Resident companies are required to submit financial statements each year to the local authorities.

Table of comparison between Belize business entities

 Resident companyOffshore company
Also known as:LLCIBC
How long to set the company up?1 week1 week
How long to open company bank account?3 weeks3 weeks
Legal liability?LimitedLimited
Wholly foreign owned?YesYes
Minimum share capital?US$1US$1
File annual tax return?YesNo
Corporate bank account?Belize BankHSBC Singapore
Does our Client need to travel?NoNo
Resident director required?NoNo
Minimum directors allowed?11
Minimum shareholders?11
Belize resident company secretary required?YesYes
Corporate shareholders allowed?YesYes
Corporate director(s) allowed?YesYes
Belize corporate tax rate?25%0%
Annual financial statements required?YesNo
Statutory audit required?NoNo
Allowed to issue sales invoices in Belize?YesNo
Allowed to sign contracts with Belize entities?YesNo
Allowed to import and export goods?YesNo
Can rent an office in Belize?YesNo
Can buy Belize property?YesNo
Can own equity in other local companies?YesNo
Total Belize business setup costs in Yr. 1US$6,350
Subsequent annual costs (excl. accounting and tax fees)US$2,200
Sample engagement fee invoiceBelize IBC setup cost

Contact us

For additional information on our business setup services in Belize, please email us at Alternatively please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
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