Currently Belize is legislated under the Belize International Financial Service Commission, regulated by the IBC Act of 1999. It received some modification in 2000.
- Only one director or shareholder required for the company’s formation.
- Shareholder(s) and director(s) may be the same person.
- The shareholder(s) and director(s) can be a natural person.
- There is no requirement of resident secretary.
All of the IBCs in Belize can have one or more person or corporate directors and they can be of any nationality. Without the needs of any statutory meetings to be held you can have them all or do business activities not being in the country at distance.
In Belize they offer investors the benefit of a zero (0) Tax exception like all the offshore jurisdictions for foreigners around any commercial activity or commercial transactions made outside the country.
One of the most important features about Belize for people in the business world is the security in such insecure times that we are living because of the privacy that Belize offers, because the share holders and administrators names are not published in the public records.
By law a Belize IBC should keep accounting records that are able to explain all the transactions of the company and will be enable to show the position of the company with reasonable accuracy. The books and records will not be show in the public records it should be kept at the registered office of the company.