FACT SHEET
INTRODUCTION ─ BELIZE
Location |
Belize is situated on the east coast of Central America bordering the Caribbean Sea between Guatemala and Mexico |
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Capital |
Belmopan |
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Area |
22960 Square Kilometers |
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Population |
Approximately 280,000 (in July, 2005) |
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Climate |
Subtropics, humidity, temperature influenced by trade wind |
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Official Language |
English |
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Legal Tender |
Belize dollar at US$1=BZ$2 |
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Government |
Independent Country |
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Geography |
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HIGHLIGHTS OF BELIZE
¨ Excellent corporation law.
¨ No taxes levied on offshore and banking transactions.
¨ No exchange control regulations.
¨ Political and economic stability.
¨ Excellent communication facilities.
¨ Skilled personnel.
HIGHLIGHTS OF BELIZE INTERNATIONAL BUSINESS COMPANIES (IBCs)
¨ Reasonable formation and maintenance costs and fees.
¨ Speedy incorporation procedures and simple ongoing administration.
¨ No requirement to file annual returns or financial statements; no requirement to hold annual general meetings of shareholders or directors.
¨ Full exemption from taxation on any business activity or transaction carried out outside B.V.I.
¨ No minimum or maximum capital requirements.
¨ IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.
¨ Nominative or Bearer shares at owner’s option.
¨ IBCs need not have more than one director. Neither the directors nor the officers need be shareholders.
¨ The shareholders, directors, and officers may be of any nationality and may be residents of any country.
¨ Directors and/or officers can be either corporate entities or natural persons.
¨ There is no requirement to register initial or ongoing changes in directors and/or officers.
¨ Shareholders and/or directors may hold their meetings in any country and they may attend such meetings by proxy.
¨ The accounting books of the company may be kept at the registered office of the company or abroad.
¨ The word “Limited” may be used in an IBC’s name.
¨ Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation) because B.V.I. is a British jurisdiction.
¨ Use of apostille should documentation need to be legalised.
¨ Incorporation documents may be drafted in Spanish or any other language together with an English translation.
USES OF BELIZE INTERNATIONAL BUSINESS COMPANIES
¨ Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title.
¨ Owner of the shares of other companies or legal entities.
¨ Owner of apartments, houses, buildings and any other movable or immovable property or goods.
¨ Manager and promoter of international business transactions.
¨ International leasing of vehicles, machinery and others.
¨ To give or receive money for loans, commissions or others.
¨ Marketing and promotion of products and services.
¨ Other commercial and financial activities.
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