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. 

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. 

Taxation

There is no tax for nonresident companies provided that business is conducted outside of Belize. 

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. 

Directors

A minimum of one director is required. Resident directors are not required. 

Reporting Requirements

All companies must have a registered office and a registered agent in Belize. 

Local Requirements

All companies must have a registered office and a registered agent in Belize. 

Company Mobility

Asset security is provided through the ability to transfer domiciles. 

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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