Belize is an offshore jurisdiction which shares borders with Mexico and Guatemala and is the only English speaking country to be found in Central America. Belize is part of the Caribbean as it is located on the Caribbean Seaboard. Belize has an offshore financial center and registers Belize offshore companies as well as provides other offshore services to a huge client base. Belize is well known for offshore banking as well and an excellent retirement program.
Belize over the years have become popular for Belize offshore company registration because the country is also a tax haven which means that offshore companies registered in Belize will enjoy a tax free stratus. Belize imposes no form of local taxation on incomes which have been gained outside of the jurisdiction of Belize. Belize is an attractive offshore jurisdiction for offshore company registration as offshore companies pay no local income tax or corporate tax.
Belize offshore company registration is done by many professionals in the jurisdiction. Offshore legislation dictates that a registered agent must be maintained at all times for offshore companies in the jurisdiction. The registered agent must be used for Belize company registration; in fact, the registered agent is the person responsible for preparing registration documents to be filed with the Registrar of Companies. The registered agent also has to inform the Registrar of Companies of any changes made to the structure of the company (change in directors, shareholders etc)
The Belize offshore incorporation process involves submitting to the Registrar of Companies a Complete Memorandum of Association and Articles of Association in which the following must be included:
- The proposed name for the Belize offshore company
- The name and address of the Belize registered agent
- The purpose for forming the offshore company
- The registered address of the offshore company in Belize
- A statement showing the authorized share capital of the offshore company
- The currency in which company shares will be issued
- The number and classes of shares the offshore company intends to issue
- The limitations, privileges, powers and preferences attached to each class of share must be outlined in a statement
- The number of shares to be registered as registered shares and bearer shares must also be stated
- It must be stated whether or not bearer shares can be exchanged for registered shares and vice versa
- The by- laws of the company
Belize company registrations have a few rules which must be followed in order for a Belize offshore company to be successfully registered. For instance the name of the Belize Company must be one which has not yet been used by another Belize company and Belize registration laws also state that the company name must not be one which is considered to be offensive by the Registrar of Companies. When naming the Belize Company for registration one of the following words or abbreviations must be used: Incorporated, Limited, Corporation, Sociedad Anonima and Society Anonyme.
Belize has become a successful offshore jurisdiction with the help of the Belize offshore companies for many reasons, as already mentioned above there are tax benefits to be enjoyed by registering a Belize offshore company. Belize company registration also results in protection and privacy for the shareholders of the company. Belize offshore company registration laws states that the names and identities of the Belize offshore company shareholders will not be part of public records. Offshore legislation in Belize also provides asset protection as all assets placed in a Belize offshore company are protected from the rulings o foreign courts.
Belize offshore company registration is a smart choice for persons who want to enjoy reductions in tax liabilities and asset protection.