Belize
Belize
is one of the most important international financial services
jurisdictions in Central America and it is quickly finding
a preferred position among recognized Caribbean financial
services destinations. The Belizean jurisdiction has competitively
performed in the financial services market since the creation
of the IBC Act of 1990.
Belize
is an independent country located on the Caribbean seaboard
of Central America. The population is approximately 270,000
with the major commercial center being Belize City. Belize
has a long history of peace, stability and democracy. The
currency is the Belize dollar tied to the US dollar. In
1862 it became a British Crown Colony and achieved complete
self-rule in 1981. The political system is based on the
British Westminster model with Queen Elizabeth II being
represented by a Belizean Governor General. The law of Belize
derives from English Common Law, supplemented by local legislation.
English is the official language, but Spanish and Creole
are widely spoken. Below are some of the characteristics
of the International Business Company, banks, and investment
programs for citizenship:
Business
Legislation
The International Business Companies Act 1990 of Belize
created a special category of company
known as an International Business Company (IBC). The law
was enacted to permit asset protection
and tax minimization planning.
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Banking
and Professional Services
A
full range of international banking services including foreign
currency deposit and checking accounts
earning tax-free interest are available. Such accounts are
offered to IBC's and trustees. Banking
List.
International
Visa Cards: US dollar-based international Visa cards with
worldwide acceptance are
available. This provides an effective and flexible link
into a foreign currency account and can also be
operated on a stand alone collateral secured basis.
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Taxation
There
is no tax for nonresident companies provided that business
is conducted outside of Belize.
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Shareholders
A minimum number of shareholders
are one for an "IBC" (International Business Company).
There is no disclosure of shareholders. Bearer shares are
allowed only for "IBC's". No-par value shares
are allowed. Shareholders meetings are required only for
the "IBC", and only when the directors determine
it to be necessary.
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Directors
A
minimum of one director is required. Resident directors
are not required.
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Reporting
Requirements
All companies must have a registered office and a registered
agent in Belize.
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Local
Requirements
All
companies must have a registered office and a registered
agent in Belize.
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Company Mobility
Asset security is provided through the ability to transfer
domiciles.
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Economic
Citizenship Program
The Government
of Belize has instructed an economic Citizenship Investment
Program. The
objective of the program is to generate foreign investment
and to stimulate entrepreneurial
activities by linking the grant of citizenship to new investment.
The level of investment required by a new citizen is US$50,000
for a family and US$40,000 for a
single applicant, paid directly to the Belize Government.
The professional fees associated with each application are
approximately US$10,000.
There is no requirement for new citizens to relocate to
Belize. The main priority of many applicants
is to obtain a Belizean passport, which is issued upon grant
of citizenship. A Belizean passport is
issued initially for ten years and is renewable by right
for any citizen of the country. It is an extremely
useful travel document and allows visa-free entry to a significant
number of countries worldwide.
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BANK LIST
Bank of Nova Scotia
Albert Street
Belize City, Belize
Telephone: 501-2-77027
Fax: 501-2-77416
E-mail: bns*main@btl.net |
Atlantic International Bank Ltd.
Freetown Road, Atlantic Building
Belize City, Belize
Telephone: 501-2-34123
Fax: 501-2-34114
E-mail: atlantic@btl.net
|
Barclays Bank Plc
21 Albert Street
Belize City, Belize
Telephone: 501-2-77211
Fax: 501-2-78572
.
35 Barrack Road
Belize City, Belize
Telephone: 501-2-35698
Fax: 501-2-30368
E-mail: services@providentbank.bze |
The Belize Bank Limited
60 Market Square
Belize City, Belize
Telephone: 501-2-77132
Fax: 501-2-74318
E-mail: bblbcsl@btl.net
|
GUARDIAN
FINANCIAL SERVICES, INC.
7922 Rosecrans Avenue - Suite B1
Paramount, CA 90723 - USA
(562) 663-0700 - Fax: (562) 663-0706
info@guardianfinance.com
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