Procedure of Company Registration - Belize | Interstatus - Group of Companies Procedure of Company Registration – Belize – Interstatus – Group of Companies

Belize company registration process:

Director(s):

A minimum of one private individual or corporation and there is no residency qualification.

The director and shareholder may be the same person.

In full compliance with the laws of this jurisdiction, we can provide local (nominee) directors who will manage the affairs of the company according to your instructions.

Shareholder(s):

Every company must have at least one shareholder who may be a private individual or a corporate entity and no residency qualifications apply. If required by the beneficiary, our firm can provide nominee shareholders.

Secretary:

A secretary is not required.

If needed, we can provide the services of a physical secretary. Please contact our representative for detailed information on virtual office services.

Registered office:

A company incorporated in Belize must have a registered office by Law.

Share capital:

There are no requirements as to the mandatory payment or the minimum and maximum amount of capital. As a rule, the authorised capital is 50,000 shares with a $1 par value. Shares without nominal value can be issued and bearer shares are permitted, however the certificate of such shares must be deposited with a custodian.

Registration period:

The registration period is 7 days and Shelf companies are available.

Accounting and auditing:

No accounting and statutory audit requirements apply.

Amendments to the Offshore Companies Business Regulations legislation adopted in Belize in late 2013 introduced the following rules related to corporate and financial reporting:

1) Belize incorporated companies and corporations must maintain and keep primary accounting documentation relating to their financial affairs, provided that such documents:

  • should at any time provide an opportunity to obtain accurate assessment of the financial position of the company;
  • should facilitate preparation of financial statements of the company if needed;
  • should be adequate to verify and explain specific transactions;
  • should be kept for at least 5 years in safety and constant accessibility;

2) Primary accounting documents may be kept:

  • at the registered office of the company in Belize (the keeping of copies is sufficient);
  • at the address provided by the director as stated in the signed resolution (in this case the address designates the place of keeping the original documents) and any change of such address shall be notified within 14 days.

Belize offshore companies are obliged to maintain a register of shareholders and to keep minutes of the meetings of directors, shareholders and officers as well as copies of adopted resolutions.

In the event of a breach of the rules governing the keeping of reports, a penalty of $25 per day is imposed on the director of the company responsible.

Registrar information:

No details of beneficiary, shareholder or director are submitted to the Belize Registrar, such information is confidential and is not accessible to the public.

However, it should be noted that as of June 2013 the Government of Belize reinstated its control over the Registry of International Business Companies of Belize. This has led to uncertainty as information may be disclosed in a more simple and straightforward way compared to when this process was under the control of private business.