Belize Local Company
WHAT IS A BELIZE LOCAL COMPANY
A Belize local company is a company formed pursuant to Chapter 250 of the laws of Belize. It is also referred to locally as a limited liability company since it affords its owners the protection of limiting their liability and separating their personal assets from that of the business.
We strongly suggest establishing a limited liability company when doing business in Belize.
ADDITIONAL BENEFITS – BELIZE RESIDENCE / BELIZE CITIZENSHIP
Incorporating a local company is the very first step towards obtaining Belizean citizenship. Owners (Shareholders) and directors of a local company can open their business in Belize and thereafter obtain their work permit. This usually takes about 1 -2 months. Thereafter, once a year has passed, they may apply for Belizean residence. We can also assist with both the Belize Work Permit application and the Belize Residence application.
Finally, after maintaining their residence card for five years, they will be eligible to apply for Belizean citizenship.
REQUIREMENTS (Kindly Request Application Form)
- Proposed Name of Company ending with “LTD.” or “LIMITED”,
- Two (2) Alternative Names should the initial option not be available,
- Name and Addresses of Shareholders (minimum of two),
- Percentage of Ownership of each shareholder,
- Name and Addresses of Directors (two minimum)
- Name and Addresses of the company officers (i.e. Chairman, Secretary, Manager etc). These individuals may be the same as the Directors and/or shareholders.
- Share Capital of Company (Minimum $10,000.00 BZE divided into 10,000 shares) The shares may be greater; however, additional charges will apply. Note: Capital is not required to be paid up front.
- We will provide the initial Subscribers
- Address of local company (office location). If none is available we can provide our office as the registered office for an additional fee.
- Any additional instructions for the company that you may wish to have included in the company articles specifically governing its management.
FEE STRUCTURE FOR BELIZE LOCAL COMPANY
The Cost of setting up a Local Corporation in Belize is as follows:
|Processing Fees for Belize Local Corporation||US $ 500.00|
|Administrative Fee (office expense)
||US $ 50.00|
||US $ 50.00|
|Total Processing Fees||US $ 600.00|
|Incorporation & Filing Fee to the Government of Belize||US $ 330.00|
|Total Charge||US $ 930.00|
Note: Additional Fees apply for both Local Courier Services ($25.00 USD) and International Courier Services.
There is also a charge of $50.00 USD for a Name Search to verify that the name is available.
We accept Visa, MasterCard, American Express, Western Union Transfers, Bank-to-Bank Wire Transfers, and Bank Drafts for payment. Kindly contact our office if you have any further questions.
LIST OF DOCUMENTS PROVIDED TO CLIENTS
Once the local corporation is established, you will be provided with the following:
- 1 Copy of the Memorandum of Association
- 1 Copy of the Articles of Association
- 1 Corporate Seal to remain at registered office
- Original Certificate of Incorporation
- Certificate of Compliance
- Transfer of Shares to Shareholders from Subscribers
- Allotment of Shares to named Shareholders
- Original Share Certificates
- Resolution of First Directors
- Resolution of First Officers
We are also able to provide you with scanned copies of the above mentioned documents upon request.
We are also able to prepare the annual reports for your company as required by Chapter 250 of the Laws of Belize for a small fee of US $150.00 USD (tax and filing fess not included). These reports are mandatory and must be filed annually to keep the company in good standing. If the company is not in good standing it maybe prevented from carrying out certain services including but not limited to transferring real property.
Note: A penalty is charged by the government of Belize for late filing. This late fee is charged daily for late filing.
We can also provide Registered Office Service for your corporation For an annual fee of US $120.00 tax included.
Note: Foreigners who owning shares in the company need an approval from Central Bank, which we can obtain for a fee of US $50.00
ADDITIONAL CORPORATE SERVICES
We also offer additional corporate services at affordable prices, including but not limited to the following:
- Preparation of business plan,
- Application for trade license,
- Nominee Services
- Virtual Office Services
- Application for Bank Account in Belize