KAW PING Co., CPAs (BWKP)'s LOGO' KAW PING Co., CPAs (BWKP)KAW PING Co., CPAs (BWKP)

Offshore Company BelizeBelize Belize

1.Introduction

(1) Geographic Location

Geographic Location of Belize

Belize is located in the north east of Central America; it is bordered on the east by Caribbean, north by Mexico, and west and south by the Republic of Guatemala. With the least population in Central America, Belize has an open economy led by the private sector. The offshore financial center of Belize has a rather swift development in recent years. As of 2005, over 25,000 companies and trust institutions had been registered as an Offshore Company in Belize and this number further increased to 51,654 in 2009.

(2) Economy

Belize is still heavily dependent on agriculture as it major economic activity; it mainly produces and exports cane sugar, citruses and banana. However, its tourism industry, offshore finance and Offshore Company registration relevant activities are becoming better in recent years. As Taiwan and Belize has diplomatic relations, it is relatively time-saving and convenient when carrying out certification works through the embassy of the Republic of China.

(3) Tax System

The Belize International Business Companies Act was designed based on the BVI legal system and under the consideration of offshore investors’ benefits. According to the International Business Companies Act passed in 2000, no tax is levied on international business companies registered in Belize. To maintain a good image of the industry, the country had passed the Anti-Money Laundering Act when Offshore Banking Act was promulgated in 1996. This Act ensures that the country’s offshore banking units will not be used as a tool to cover illegal cash flow.

2. Conditions and Advantages of Establishment

  • Scope of Applications Trading and holdings companies . Triangular trade and investment companies.
  • Registered Capital Generally USD 50,000
  • Shareholders 1 (may be a natural person or juridical person, shall be above 18 years old)
  • Directors 1 (shareholder may be the same as the director)
  • Secretaries Not required
  • Stock Issues Registered / Bearer
  • Company Information Information of the company’s directors, shareholders and contact address (where the account books are stored) shall be provided to the registration office for verification and archiving; no public investigation is allowed.
  • Annual General Meeting of Shareholders Not required
  • Annual Report and Statement Declaration Not required
  • Tax Burden No tax on foreign income
  • Whether to mark its Chinese name. Yes
  • Working days required to set up the company. (1) Listed company: 4 to 7 working days.
    (2) Self-named company: 21 to 30 working days.