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Limited Liability Company

Belize is a Central American country known for its English-speaking ability, and robust offshore environment. 

The Limited Liability Companies Act was enacted in 2011, and amended in 2023. LLCs are similar to IBCs except they have membership interest, rather than shareholder stock, having both the advantages of a partnership and the advantages of a corporation, being a more flexible structure than the latter.

An LLC requires minimal corporate formation requirements. They may be incorporated as a single-member LLCs, and there are no company structure requirements for its management, nor are there provisions for company meetings, directors, secretary, or capital. Its operating agreement may be arranged by its members according to their needs.

Belize LLCs do not face any relevant reporting requirements. Setup costs and ongoing government fees are low.

An LLC is suitable for protecting liquid assets like cash, or securities, bonds or other investments.


Corporate income taxThe International Limited Liability Companies Act (ILLCA) provided for a tax exemption for International LLCs, as long as the LLC did not have operations in Belize. 

International Limited Liability Companies Amendment Act of 2023 was passed in July 2023 removing tax exemptions applicable to LLCs.
The LLC Amendment Act provides that a Belize LLC is to be treated as a “disregarded entity” or as a "partnership" for tax purposes.
The Act defines a “disregarded entity” as:

An entity that is fiscally transparent with respect to its income and receipts under the Income and Business Tax Act so that the income and receipts of the limited liability company–

(a) in the case of a single member limited liability company are taxed as the income and receipts of the single member as a sole proprietorship; and,
(b) in the case of a limited liability company with two or more members, are taxed as the income and receipts of the members as an ordinary partnership unless the LLC elects to be taxed as a company.
Taxes for LLCs that elect to be treated as a Company for tax purposes and for Sole Proprietorships and Partnerships deriving Belizean-source Income:

1.75% tax of the chargeable revenue amounting to a sum greater than BZD 3 million, or 3% of the chargeable income amounting to a sum lesser than BZD 3 million. Note that tax is applied to gross revenue (deductible expenses do not apply).

Certain activities and classes of income are subject to different rates - namely, Tour Operators (6%), Travel Agents (6%), Commissioners (5% to 15%), Telecommunication Services (19%), Real Estate Businesses (19%), Building Contractors (6%), Gambling (8% - 15%), Financial Institutions (19%), Radio, TV, Newspaper (0.75%), Dividends, Interest (5%), Service Stations (Fuel sales) (0.75%).

Companies engaged in the petroleum/oil sector are subject to 25% corporate tax. All other businesses are subject to Business Tax (above).

Belize domestic companies are required to submit periodic tax returns and pay taxes if they are not tax residents outside of Belize (which should be proven in the form of tax return/tax residence certificate from an overseas country).

Other taxes - Belize levies a real property tax of 12.5% of the annual rental value for an occupied property, and a 2% tax on the annual rental value for unoccupied properties. Property tax may not exceed 2% of the market value of the property. There is a land tax of 1% for unimproved lands.

There is a stamp duty on the transfer of assets, rates depend on the asset class. Purchase of real property is subject to a 10% stamp duty.

  • Tax transparent entity
  • Offshore Income Tax Exemption
  • Offshore capital gains tax exemption
  • Offshore dividends tax exemption
  • CFC Rules
  • Thin Capitalisation Rules
  • Patent Box
  • Tax Incentives & Credits
  • Property Tax
  • Wealth tax
  • Estate inheritance tax
  • Transfer tax
  • Capital duties
  • - Offshore Income Tax Rate
  • - Corporate Tax Rate
  • 0% Capital Gains Tax Rate
  • 0% Dividends Received
  • 0% Dividends Withholding Tax Rate
  • 0% Interests Withholding Tax Rate
  • 0% Royalties Withholding Tax Rate
  • 0 Losses carryback (years)
  • 0 Losses carryforward (years)
  • 3.18% Social Security Employee
  • 5.35% Social Security Employer
  • 25% Personal Income Tax Rate
  • 12.5% VAT Rate
  • 30 Tax Treaties

Country details

North America
English (Belize), Spanish (Spain)

Belize, formerly British Honduras, is a CARICOM and SICA member. Located in the northeastern corner of Central America, bordering to the north with Mexico and to the south and the west with Guatemala. The capital is the city of Belmopan and the most populated city is Belize City, which has the main port of the country.

Although is the only Central American country with English as the official language, it is just over 380,000 inhabitants speak predominantly Spanish and Creole. Its currency is the Belize Dollar (BZD), which is currently pegged to the US$ (2:1), but most commercial establishments accept US dollars.

Belize is a constitutional monarchy with a parliamentary system of government. The Head of State is King Charles III, who is represented in the country by the Governor General.

The executive power is headed by a Prime Minister, who heads the Cabinet of 13 ministers, plus 5 deputy ministers, who represent the majority political force of the Belizean Parliament.

The legislative power is bicameral, composed of a House of Representatives of 31 members democratically elected for a period of five years and a Senate of 12 members appointed by the Governor General from proposals of the Prime Minister, the leader of the opposition and of Various religious, economic and social institutions.

The Belizean economy is the smallest in the Central American region, but it is the third largest in GDP per capita, only after Panama and Costa Rica.

Belize has an economy based primarily on agriculture and services. Domestic industry is limited, constrained by relatively high-cost labor and energy, and a small domestic market.

Tourism attracts the most foreign direct investment although significant foreign investment is also found in the energy, telecommunications, and agricultural sectors. The stability of the currency is one of the attractions for foreign investment.

Belize's exports of goods and services account for over half of its GDP. The export products mainly consist of seafood such as shrimp, followed by sugar, citrus products, bananas and small manufactures.

Its Barrier Reef (longest in the Western Hemisphere), 127 islands, excellent fishing, safe waters for boating, scuba diving, and snorkeling, abundant jungle flora and fauna, and numerous Mayan ruins has bolstered tourism and ecotourism industry.

Belize is a well-known offshore jurisdiction for its privacy policies, tax advantages for non-residents and its full tax exemption for its domiciled International Companies. Although its banking sector is not as large as other offshore financial centers, it is gaining popularity in recent years.

Tax treaties

Country Type Date Signed
Greenland TIEA 2010-09-15
Poland TIEA 2013-05-16
India TIEA 2013-09-18
Finland TIEA 2010-09-15
Barbados DTC  1994-07-06
Antigua and Barbuda DTC  1994-07-06
United Kingdom TIEA 2010-03-25
Iceland TIEA 2010-09-15
Netherlands TIEA 2010-02-04
Mexico TIEA 2011-11-17
Sweden TIEA 2010-09-15
Saint Kitts and Nevis DTC  1994-07-06
Trinidad and Tobago DTC  1994-07-06
Saint Lucia DTC  1994-07-06
Switzerland DTC  1954-09-30
Denmark TIEA 2010-09-15
Grenada DTC  1994-07-06
South Africa TIEA 2014-05-06
Ireland TIEA 2010-11-18
Jamaica DTC  1994-07-06
France TIEA 2010-11-22
Faroe Islands TIEA 2010-09-15
Guyana DTC  1994-07-06
Australia TIEA 2010-03-31
Norway TIEA 2010-09-15
Saint Vincent and the Grenadines DTC  1994-07-06
Dominica DTC  1994-07-06
Austria DTC  2002-05-08
Belgium TIEA 2009-12-29
Portugal TIEA 2010-10-22

Tax treaties Map



We can help you incorporate a Limited Liability Company in Belize for $1,750.

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