12 steps to incorporating in Belize in 2023
Incorporating a company in Belize is simple and requires approximately one week. The procedures to be completed with the Belize International Corporate Affairs Registry (BICAR) are straightforward as described in the following overview of the typical engagement steps:
Phase 1: Engagement commencement and planning
- Consultation: : Our Client i) signs Healy Consultants Group’s engagement letter ii) provides us with the required due diligence documents and iii) confirms name and final corporate structure including, ultimate beneficial owners.
- Project plan: We supply our Client with a detailed project plan, mapping out weekly deliverables to engagement completion, optimising transparency and setting Client expectations.
- Registered address: Healy Consultants Group emails our Client the draft Belize virtual office agreement for their signature and email return.
Phase 2: Document preparation
- Preparation: Healy Consultants Group’s Belize registered agent prepares the articles of association for the company which will include, i) name and details of all shareholders and directors ii) name and domicile of the company iii) company business objectives iv) total company capital and distribution of shareholding and v) verification of the validity and availability of the preferred company names via the Belize company search (BICAR).
- Client signature: Healy Consultants Group prepares and shares the pre-filled Memorandum and Articles of Association with our Client for their signature and courier return.
- Notarization: Our Belize registered agent presents the documents to the local notary for notarisation and submits the same to BICAR.
Phase 3: Belize IBC incorporation
- Incorporation: Our Belize registered agent liaises with BICAR to complete Belize IBC incorporation. Upon approval, we obtain the original Certificate of Incorporation and Certificate of Incumbency. If required by our Clients, Healy Consultants Group will apostille the same.
- Tax Identification Number: Healy Consultants Group obtains a Tax Identification Number (TIN) from BICAR.
- Documentation: Healy Consultants Group prepares i) minutes of the first meeting of directors ii) the company’s bylaws and ii) share certificates. Upon request, and for an additional fee, we can obtain i) the company seal from the relevant Belizean authority and ii) certified true copies of the register of members and directors.
Phase 4: Corporate bank account opening
- Bank account enquiry: Healy Consultants Group prepares a quality business plan and approaches top banks such as i) Caye International Bank Limited; ii) Belize Bank International Limited and iii) Heritage International Bank & Trust Limited to submit an account opening application inquiry.
- Account approval: Healy Consultants’ Banking Team advances the application with the Client’s preferred bank, providing supporting documentation and due diligence to complete account opening.
Phase 5: Engagement Completion
- Following engagement completion, Healy Consultants Group will courier a full company kit to our Client, including i) original certificate of incorporation ii) a bound copy of Belize government approved articles of association iii) original share certificates iv) an original Belize government receipt as evidence of payment of annual Belize company registration v) unopened bank correspondence and vi) a Client feedback survey.
Standard documents required to complete your Belize IBC incorporation
- Certified true copy of passports by a notary public, accountant or lawyer of all individual shareholders, directors and beneficial owners of the Belize company.
- Certified true copy of proof of residence of the individual shareholders, directors and beneficial owners of the Belize company.
- A letter of introduction from a banker, lawyer or accountant for all individual shareholders, directors and beneficial owners of the Belize company.
- For corporate shareholders or directors, certified true copies of corporate documents including M&AA, latest annual return and audited financial statements and certificate of incumbency (if applicable).