The choice of a jurisdiction for company registration has never been easy as there are a lot of factors to be taken into account. It’s like buying a car: you need to choose a convenient one that you will drive for years, and the company you operate should provide just as much convenience, too. In this short post, we propose to focus on Belize, a really good business destination that offers great incentives. We will also discuss why an LLC is better than an IBC in this particular case.
If you are seriously interested in starting your offshore company, we would like to invite you to our portal called International Wealth to take advantage of an extensive knowledge base of articles on different aspects of international business, banking, tax optimization, accounting, and investment. Follow the link to read the full text of the article about how to register an LLC in Belize and enjoy our portal!
We have experienced specialists who can provide overall support in the matters of company registration, opening a corporate account, tax optimization, asset protection, and so on. If you struggle with the choice of a jurisdiction, we will help you at no fee. However, you can also entrust company registration to us, and in this case, we will complete all the formalities for you at a reasonable fee. Starting a business with us is easy – click on the link and see for yourself!
Why LLC?
Belize is a great jurisdiction in many respects: in addition to being a stunningly beautiful natural sanctuary, it is also an excellent country for asset protection, business, and banking. But why do we insist on LLC and not recommend other available options? Here are the reasons we rely on:
- A Belize LLC is completely exempted from taxes if 100% of its profits are generated abroad.
- A Belize LLC owner is under no obligation to submit annual financial reports or tax returns, or hold annual general meetings.
- The liability of company members is limited by their contribution (the number of shares in their possession).
- There is a lot of flexibility in planning the structure and activities of your LLC
- A Belize LLC can be fully owned by a foreign national.
- There is no threshold for minimum authorized capital in Belize: you can start your company with 1 dollar in your pocket.
- You will not need to apply for a TIN to operate your company.
- There are no economic substance requirements in Belize, so you will have less maintenance costs.
- If you worry about asset protection, Belize offers one of the best legal frameworks in the world for this purpose.
- The costs of company setup and maintenance are quite reasonable.
- The confidentiality level that Belize offers is as high as possible in the present-day world.
Sounds impressive? Do not hesitate to follow the above link and book a consultation with our experts to know more!
Belize LLC Incorporation: Costs
You can use our turnkey package to get a fully operational company in Belize online at a reasonable fee of USD 2950. We will provide a full package of company documents, such as a Certificate of Formation, Register of Directors/Members, Articles of Association, a registered address in Belize, and delivery of original corporate documents to your address.
There are additional services you can order at a separate fee, such as help with opening a business account for your LLC, providing a professional director, notarization, and so on.
Contact our experts, and we will do everything to make sure your business will be successfully launched as quickly as reasonably possible!
IBC vs. LLC
Let’s look at the benefits of an LLC as compared to an IBC in Belize:
- An LLC is not required to get a TIN, while an IBC is.
- With an LLC, you will not have to worry about any economic substance requirements, while these are mandatory if you form an IBC.
- An LLC owner can keep accounting records in any country, while an IBC owner is required to keep them in Belize.
- LLC members can hold their meetings in any country outside Belize.
- In the eyes of the EU and OECD, an LLC is not considered a risky form of business, while an IBC is.
- One non-resident is sufficient to form an LLC in Belize.
- You can start an LLC with any amount of share capital.
- Finally, if you need professional directors/shareholders for your LLC to ensure more confidentiality, you can do so (unlike IBC).
- An IBC needs to submit audited financial reports, while an LLC does not have this obligation.
As you see, we recommend an LLC just because you will have less trouble operating it. However, if you have some serious reasons to start an IBC, you can discuss them with our expert.
Belize LLC: Limitations
LLCs formed in Belize have their limitations under the 2011 Belize International Companies Act:
- They cannot obtain profits from the residents of Belize
- They cannot possess real property as a sole owner
- They cannot own securities of any Belizean company
- They cannot issue any securities using the name of a Belize resident
If some of these restrictions are critically important for your business, please discuss the situation with our specialist, and we are sure to find a way out.
LLC in Belize: Requirements
Here are the main requirements you will have to meet to successfully form an LLC in Belize:
- Make sure the company name reflects the business structure (add an abbreviation LLC).
- You will need a local office (address) and a registered agent.
- You will need at least one member and one manager to form a company in Belize (residency is not important, and these can be individuals or legal entities).
- A secretary is optional.
- You are not obliged to declare your worldwide income, but you will have to pay a state fee to register/renew your company.
Conclusion
We have helped hundreds of entrepreneurs from all over the world to start their companies without much hassle, and we can be of use to you, too! Follow the link to our portal to read the whole article on Belize, look at other articles we publish, or contact our experts for a free session. We will be glad to help another good business come into existence!