REQUIREMENT TO SET UP A LOCAL CORPORATION IN BELIZE (Chapter 250)
PURPOSE AND BENEFIT:
Incorporating a local company is the first step in obtaining Belizean citizenship. Owners and directors of a local company can invest in Belize, obtain their work permit and after a year acquire Belizean residence. Finally, after holding your residence card for five years, you can apply for Belizean citizenship.
- Proposed Name and two alternative names ending with "LTD" or "LIMITED"
- Shareholders and Percentage of Ownership (minimum of two shareholders)
- Directors (two minimum with contact information)
- Company Officers e.g. Chairman, Treasurer, Secretary, General Manager, etc. (the same Directors and Shareholders can be the Company Officers)
- Share Capital (Minimum BZ $10,000.00 divided into 10,000 shares @BZ $1.00) (Capital not required to be paid)
- Subscribers (This will be provided)
The Cost of setting up a Local Corporation in Belize is as follows:
• Processing Fees for Local Corporation: US $ 500.00
• Administrative & Alien Shareholding Fee: US $ 100.00
• General Sales Tax (10% of $600): US $ 60.00
Total Processing Fees: US $ 660.00
• Incorporation & Filing Fee to the Government of Belize: US $ 330.00
Total Due: US $ 990.00
We accept Visa, MasterCard, American Express, Western Union Transfers, Bank-to-Bank Wire Transfers, Checks, International Money Order, and Bank Drafts for payment of our services.
There is an additional fee for the cost of sending documents by courier. Courier to the U.S., The Caribbean, Central and South America is US $50.00 and US$75.00 to Europe.
DOCUMENTS TO KEEP:
With the purchase of your Local Corporation you will receive the following documents:
• Original Certificate of Incorporation
• Certificate of Compliance
• 1 Copy of the Memorandum & Articles of Association
• 1 Corporate Seal to remain at registered office - you can request one for you
• First and Second Minutes
• Transfer of Shares to Shareholders from Subscribers
• Allotment of Shares
• Share Certificates
• Resolution of First Directors
• Resolution of First Officers
For a fee of US $137.50 and filing fees of US $ 26.50 we can prepare the annual reports for your company as required by Chapter 250 of the Laws of Belize. The annual reports are mandatory and must be filed annually to keep the company in good standing.
For a fee of US $125.00 annually, we provide Registered Office Service, which includes preparation of the following documents, additional of those already registered:
• Annual Register of Directors
• Annual Register of Shareholders
Foreigners who own more than 50% of the shares in the company need an approval from Central Bank, which we can obtain for a fee of US $50.00.
We also have shelf local companies that are available immediately, fees range from US $1,250.00 – US $ 1,500.00. This covers all costs and filing fees to the registry for ownership. Take note that we can change the name for a fee of US $75.00 plus other administrative and filing fees.
Note that all fees are subject to 10% general sales tax.
We offer additional corporate services at affordable prices; you can request our list and quote.