1. Applicable Company legislation?
International Business Companies Act 1990

2. What types of Company are available in this jurisdiction?
IBC - International Business Companies, also Domestic (Chapter 206) Companies

3. What is the annual Government fee payable?
US$100 - subject to a fine for late filing

4. Is a Registered Office required?
Yes - in Belize

5. Is it possible to reserve the name in the Company Registry?
Yes - for a period of 30 days

6. How long is needed to incorporate in a name of your choice?
Incorporation is same day, however it takes up to 3 weeks to receive documents for Belize

7. Are ready made companies usually available?
Yes

8. Where and when must board meetings be held?
Meetings can take place anywhere. There is no statutory requirement for regular meeting to take place

9. Is an annual return required?
No

10.Are audited accounts required by authorities, and if so is a copy kept on public record?
For IBC's - no, For Domestic Companies - yes

11.How many companies were on the Companies Register at the end of 1995?
Approximately 3235

12.Minimum number of subscribers?
One

13.Minimum subscribed capital requirements?
US$1

14.Standard authorised share capital?
US$50,000 (Registered or Bearer shares are permitted)

15.Minimum number of shareholders?
One

16.Are the details of shareholders filed on public record?
No

17.Are trustee shareholders permitted?
Yes

18.Is it possible to increase the authorised share capital?
Yes - by payment of extra duty on the increased capital to the Government

19.Is a Company Secretary required?
No - however most Banks do require the appointment of a Company Secretary

20.Is a local registered/or resident agent required?
Yes - must be licensed by the Government

21.Minimum number of directors?
One

22.Are the details of directors filed on public record?
No

23.Are nominee third party directors permitted?
Yes

24.What is the principle use for this type(s) of company?
For Holding Companies, or for International Trade and Banking. An IBC is exempt from any other form of taxation.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.