Belize's International Business Companies Act was established in 1990 and based heavily on the British Virgin
Island's model. It created a special category of corporate vehicle known as the international business company (IBC) which
has since shown itself to
be extremely attractive for use in all parts of the world.
Some of the primary attributes
of the Belize IBC are as follows:
* Not subject to tax.
The Belize IBC enjoys total exemption from
all forms of taxation in Belize including stamp duty.
* No exchange control. A Belize IBC may freely open and maintain any type of currency account.
* Speedy and simple incorporation. The IBC Registry routinely incorporates
a Belize IBC within 24 hours of lodgement of the constitutive documents of the company together with the prescribed
fee.
* Confidentiality. Filing requirements are limited primarily to memorandum and articles of association, name of registered
agent and address of registered office.
* Bearer shares may be issued subject to registered
agent/professional
intermediary custody requirement.
* Only one subscriber is required for incorporation.
* The Belize IBC may have only one director. Directors can be corporate and need not be resident
in the country.
* Flexibility. A Belize IBC is capable of being incorporated for (or restricted to (as
in the case of special purpose corporations)) any object not prohibited by the laws of Belize.
* Meetings
of shareholders and/or directors may be held in any country at any time and may be attended by proxy. Resolutions of
members and/or directors may be passed without a meeting.
* Shares can be issued without par value.
* A Belize IBC may be incorporated in any language (provided a properly translated English version
is also submitted) and with an authorized share capital in a foreign currency.
The Certificate of Incorporation is also granted in that foreign script.
* Belize IBC's may migrate into and out of Belize.
However, once re-domiciled in Belize, the former governing law ceases to be operable.
