Belize Offshore Company

Frequently Asked Questions

• What is the difference between an International Business Company (IBC) and a Limited Liability Company (LLC) in Belize?
  • The owners of an IBC are known as “shareholders” whose ownership percentages reflect the number of shares they own.
    It is relatively easy for a corporation to authorize additional shares, or for shareholders to transfer their shares to someone else.
  • The owners of an LLC are called “members”. Each member owns a percentage, or “membership interest” in the business.
    The ownership of an LLC is outlined in the operating agreement—other details include the percentage each member owns, how the business is run, and how the company will deal with a new or departing member. Without an operating agreement, the LLC operates according to the International Limited Liabilities Act.
• Will my company be subject to taxes if I setup my company in Belize?
  An IBC will be subject to taxation in Belize and the percentage of tax to be paid will depend on the business activity of the company. Kindly contact us to know more. However, there are no taxes to be paid if your company is registered as an LLC in Belize.
  
  While the company may not be liable to pay taxes, please consult with a tax/legal advisor in your country of residence, to determine your own tax liability.
• Is there any obligation to file accounts while registering a Limited Liability Company (LLC) in Belize?
  Yes, accounting records must be kept in Belize or the location where accounts are kept must be declared.
• Do you assist to register an International Business Company (IBC) or a Limited Liability Company (LLC) in Belize?
  Generally speaking, we assist in registering a Limited Liability Company (LLC) in Belize.
  However, if you are interested in registering an IBC in Belize, we recommend you to contact us and our team will assist you accordingly.
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• Do I need to obtain a Tax Identification Number (TIN) for my Belize Offshore Company?
  Following the adoption of the Economic Substance Act, IBC companies incorporated in Belize need to obtain a Tax Identification Number (TIN) from the Belize International Corporate Affairs Registry. However, if you setup your company as an LLC, then a TIN number is not required in Belize.
• Will my Limited Liability Company (LLC) be subject to Economic Substance Regulations (ESR) in Belize?
  The Economic Substance Act, was enacted to ensure improved provisions for substantial economic presence to be fulfilled by IBC companies that are registered and/or conduct business in Belize. However, if you setup your company as an LLC, then your company is not subject to ESR requirements in Belize.
• Will my liability be limited if I register my company as a Limited Liability Company (LLC) in Belize?
  An LLC limits the liability of its members to the extent of the contributions made by them to the Company.
• Do I need to travel at any stage to form a company or to open a bank account in Belize?
  No, everything can be processed remotely.