BELIZE LOCAL COMPANY FORMATION (Belize Chapter 250 Company)
We specialize in the incorporation and annual maintenance/filings of Local ("LTD") and International Business Companies.
The Companies Act, Chapter 250, of the Laws of Belize provides for the formation of limited liability companies. Local companies may carry out unlimited activities provided that the objects in its memorandum of association are drawn sufficiently wide to encompass an array of services. These companies, unlike International Business Companies (IBCs) are free to carry on business locally in Belize and Belize residents are free to own shares. International Clients are also entitled to be shareholders of local companies; however, we must first apply for approval from the Central Bank. This is simply a matter of procedure and is completed within a few days.
We advise all of our clients wishing to carry on a business in Belize to do so through the medium of a limited liability company. This medium provides security and protection to both its shareholders and directors. Separate legal status/entity is a vital and recognized aspect of Belize law. When properly structured the local corporations can also provide Asset Protection, Tax Minimization and Confidentiality.
In order for us to form your corporation we require the following information:
- Name of Corporation;
- Secondary Name (if the above name is not accepted);
- Address of Company (we may provide you with an address if required);
- Type of Service
- List of Directors - Names and Addresses (at least 2 names must be provided)
- List of Shareholder - Name and Addresses
- Distribution of Shares amongst Shareholders;
- Company Officers e.g. Chairman, Treasurer, Secretary, General Manager
- Subscribers (this will be provided)
All local companies must file annual returns in the prescribed forms which set out the basic details of the directorships and shareholdings every year. As the registered agent of your company we are able to provide this service to you. Please feel free to contact us regarding information regarding this service and our fees.
The company may be formed within 2 business days of receiving the application form and payment from the client. Note: We will require an additional 4-5 days for the approval of Central Bank (if required).
Once the company is formed we will provide you with the following documents:
- Original Certificate of Incorporation
- Certificate of Compliance
- Copy of Memorandum of Association
- Copy of Article of Association
- Resolution for transfer of shares to shareholders from subscribers,
- Allotment of shares
- Share Certificates
- Resolution of First Directors
- Resolution of First Officers
Our fees for establishing a local company are as follows:
|Processing Fee for Local Corporation||US$500.00|
|Application for Central Bank Approval||US$ 50.00|
|General Sales Tax (12.5%)||US$ 75.00|
|Total Processing Fees||US$675.00|
|Incorporation & Filing fee to the Gov||US$330.00|
|Total Fees Due||US$1005.00|
Our fees for the Annual Report
The annual reports are mandatory and must be filed annually as indicated above to keep the company in good standing. Note: Penalty fees are applied by the Government for late filing.
Our fee for annual returns: US$190.00
We are able to provide you with our Registered Office Services for a fee of US $150.00. This includes the preparation of Annual Register of Directors and Shareholders.
Upon request we are able to provide our clients with nominee services with respect to Directorship positions and/or shareholders.
We accept Visa, MasterCard, American Express, Bank-to-Bank Wire Transfers, Checks, International Money Order, and Bank Drafts for payment for our services.