Limited Liability Company
Belize is a central American country known for its English-speaking ability, and robust offshore environment. Belize is very well accustomed to setting up offshore companies and trusts, and you are in good hands to start a business in Belize.
The Limited Liability Companies Act was enacted in 2011 to enhance its burgeoning offshore sector. 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.
Belize has a very quick incorporation process, in fact, probably the fastest Registry in the world, your offshore limited liability company can be done in a few hours.
Limited liability companies are exempt from taxes in Belize, provided that no business is done in Belize, not own real estate property in Belize, not hold share, stock, debt obligation or other securities in a local company and may not issue stock, debt obligation or other securities to any person in Belize or any local company.
Certain activities such as insurance, banking, reinsurance and trust formation, require licensing.
Belize LLCs do not face any reporting requirements. Startup costs and ongoing government fees are relatively low.
It is very easy to maintain a Belize LLC and it is not required to visit the country for members meetings, to have audits on the accounts or maintain a company secretary.
Belize will not disclose company’s banking or fiscal information. Client confidentiality is an important asset in the Belize corporate and business legislation.
Banking in Belize is easy – an account can be opened with a very small amount. Also, it is not necessary to show up in person. Banks in Belize offer merchant accounts and credit card processing.
The country has agreed to implement the OECD automatic exchange of information (AEoI) by 2018 and has signed tax information exchange treaties (TIEa) with 18 countries.
An LLC is perfect for protecting liquid assets like cash, or securities, bonds or other investments.
An LLC with a strong and protective operating agreement is the best solution for protecting your higher risk assets and liabilities.
Country code – BZ
Legal Basis – Common law
Legal framework – Limited Liability Companies Act 2011
Company form – Limited Liability Company (LLC)
Liability - The liability of the members is limited to the amount of their capital contributions.
Business restrictions – An International Limited Liability Company may not carry out a business activity with residents of Belize, may not own real estate property in Belize, and may not hold share, stock, debt obligation or other securities in a local company.
Capital – There is no minimum capital required, and it may be in a nonpaid up basis.
Members – An LLC may be formed by one or more members who may be residents or non-residents and natural persons or corporations. Details of members are not publicly disclosed.
Manager – At least one manager must be appointed by the members, who may be a member or a third party, natural or legal person and non-resident. Details are not available to the public.
Secretary – The company may appoint a secretary, but it is not mandatory.
Registered Address – A company shall appoint a licensed registered agent and shall have a registered address and office in Belize.
General Meeting – There is no statutory requirement for any formal meetings of members, and these can be held anywhere.
Electronic Signature – Permitted.
Re-domiciliation – Inward and outward re-domiciliation is allowed.
Compliance – Companies may maintain accounting records for 5 years, these may be kept anywhere and in any currency.
There is no requirement to file an annual return, financial statements nor a tax return.
Limited liability companies are subject to a registration fee and an annual renewal fee (US$150).
- Members not disclosed
- Managers not disclosed
- Corporate members permitted
- Corporate manager permitted
- Local manager required
- Registered office or agent required
- Annual meeting required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Common law Legal basis
- 1 Minimum members
- USD 1 Minimum registered capital
- - Minimum paid up capital
- USDAny Capital currency
- 100% Foreign-ownership allowed
- 2018 AEOI
Corporate income tax – A Belize LLC is a tax transparent entity, which means that any profits and losses are passed through to the members to be reported as personal income. There are no taxes, exchange controls or fees on assets or income originating outside of Belize.
Other taxes – Tax residents and non-residents individuals are subject to income tax on their income derived from Belize at a 25% rate. Income from foreign source is not subject to taxation. Capital gains are tax-exempt.
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 an unoccupied property. 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 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
- 0% Offshore Income 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
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 is also the main port of the country.
Although is the only Central American country with English as official language, its 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 Queen Elizabeth II, 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 Map
Belize International Business Company (IBC) – US$1,550.00 (All Included)
Belize Limited Liability Company (LLC) – US$1,750.00 (All Included)
We pride ourselves in providing the best possible professional service which includes our honest hassle free “No Hidden Fee” policy. Your incorporation package includes:
- Registration and Government Fees
- Bound set of Constitutional Documents
- Certified Copies of Constitutional Documents with Apostille for bank account opening
- Notarized Certificate of Incumbency with Aposttile
- Courier fees
- Registered Office & Registered Agent Service including all fees for calendar year
Time to form: 1 to 2 weeks.
All our incorporation services include a yearly consulting session, a dedicated account manager and access to our global network of trusted business services, including introductions to accountants, financial, tax and legal advisors at no cost.
Bank Account Options
- Belize Bank Account (Remotely) – US$300.00
- Offshore Bank Account* (Remotely) – US$300.00
- Bahamas Bank Account (Remotely) – US$500.00
- Mauritius Bank Account (Remotely) – US$500.00
- Labuan (Malaysia) Bank Account (Remotely) – US$500.00
- Curaçao Bank Account (Remotely) – US$500.00
- Singapore Bank Account (In-person) – US$900.00
- Hong Kong Bank Account (In-person) – US$1,200.00
- Cayman Islands Bank Account (Remotely) – US$900.00
- Crypto-Friendly Bank Account (Offshore, Remotely) – US$3,000.00
We include introductions to payment processors or merchant accounts with all of our incorporation services. Whether you just need standard credit card processing or specialized services for high risk processing, we are happy to help you with introductions that can empower your business.
*Offshore Bank Accounts: Belize, Puerto Rico, Nevis, Antigua, Saint Lucia. Other bank account options may be available depending on business profile and turnover.
Annual Fees (Payable 1 January) – US$950.00
- Government fee
- Registered Agent & Registered Office fee
- Nominee Director (1 year) – US$800.00
- Nominee Shareholder (1 year) – US$800.00
Click here to incorporate your Belize LLC.