Setting up a Company in Belize: A Detailed Guide( 2025)

For a long time, Belize has been considered an ideal country for businesses wishing to establish an offshore company for international business.

In particular, in recent years, Belize has made efforts to implement many important reforms, aiming to create a favorable and friendly business environment to attract foreign investors to choose Belize to open offshore companies. 

Let's join GLA in this article to learn about the overview and benefits of establishing an offshore company in Belize, so that businesses have more information when choosing to open an offshore company in Belize.

1. Overview of Belize

1.1. Belize's economy

Belize is an independent country in Central America and the only country in the region whose official language is English. Geographically bordered by Guatemala, Mexico and the Caribbean Sea with an area of ​​22,970 km2, Belize has a low population density with a cost of living ranging from about 1,000 - 2,000 USD per month depending on where you live.

Overall Belize is a safe country, although located in Central America, but has a legal system based on British Common Law.

Belize is the only country in Central America that is:

1. Member of the British Commonwealth.
2. Member of some organizations such as the United Nations.
3. The Non-Aligned Movement.
4.  the Caribbean Community (CARICOM)
5. The Caribbean Financial Action Task Force (CFATF).

The economy of Belize is in a period of development with the development of small private enterprises, mainly in the fields of agriculture, forestry, services, especially tourism. The discovery of crude oil at Spanish Lookout opened a new era for the economy of Belize.

In Belize, domestic industry is constrained by high labor and fuel costs. As a result, tourism attracts the majority of foreign investment, but other sectors that attract investment include telecommunications, energy, and agriculture.

The Government of Belize strives to issue attractive policies to attract foreign investment from countries, international companies, and foreign individuals when choosing to establish offshore companies in Belize. International financial services are one of those efforts.

1.2. International Financial Services Industry

In 1990, in an effort to become a country with a diversified economy, Belize introduced the International Financial Services (IFS) and International Business Companies (IBC) Act (IBC is also known as an offshore company). The International Business Act allows individuals and businesses at home and abroad to establish and register offshore companies - a type of company that is 100% exempt from corporate income tax.

In 1992, the Trusts Act was passed.

In 1996, the Offshore Banking Act and the Money Laundering and Terrorism (Prevention) Act (now renamed the Money Laundering and Terrorism (Prevention) Act) were passed.

As a result, the international financial services (IFS) industry in Belize has grown rapidly with 15.000 offshore companies established over the past 10 years.

Belize has signed a total of 18 tax information exchange agreements with the Organization for Economic Cooperation and Development (OECD), and is currently one of 38 countries that have signed a commitment with the OECD to enhance transparency in the exchange of tax information.

1.3. Stable and developed banking system

Many companies choose to open a bank account in Belize because of its preferential policies and high liquidity, avoiding difficulties in transferring money.

According to the Belize Banking Act (International Banking Act) Section 21A-(2), banks in Belize must have a liquidity ratio of over 24%, higher than banks in North America with a liquidity ratio of 4%. It is these high requirements for banks from the government that make Belize an option for efficient financial management.

2. Top 4 benefits why businesses choose to open an offshore company in Belize

Like offshore companies in BVI and Seychelles, Belize offshore companies also have many similar benefits that businesses cannot ignore such as:

2.1. The process of establishing an offshore company in Belize is quick and efficient.

Businesses can now choose to open an offshore company/IBC company in Belize quickly and effectively when all procedures can be done 100% online and administrative services with the company registration board (Belize Company and Corporate Affairs Registry) in Belize.

2.2. Belize offshore company has legal status

An offshore company established in Belize has a separate legal entity, which helps separate the powers and responsibilities of the owner and the company.

2.3. Offshore companies established in Belize enjoy many attractive tax incentives.

This can be considered a key, essential benefit that many businesses choose. Belize is truly a country that favors offshore companies with attractive tax incentives.

Businesses opening a Belize IBC will enjoy Corporate tax incentives when complying with Belize requirements.

2.4. Conditions for establishing and maintaining an offshore company in Belize are simple, easy to implement, and flexible.

Businesses registering to open an offshore company at IBC Belize will have to take note of the following establishment conditions:

✅ Minimum 1 shareholder, 1 director. Shareholders can be directors and do not need to appoint a Belize resident.

✅ No minimum paid-up capital requirement.

✅ No annual audit required. Businesses still need to prepare financial statements but do not necessarily have to keep them in an office in Belize.

✅ Company names can be flexibly registered with suffixes such as “Limited”, “Corporation”, “Incorporated”, “Society Anonyme” or full names such as “Ltd.”, “Corp.” “Inc.”.

✅ Annual General Meetings can be conducted online as video calls.

There are many benefits when a business chooses to open an offshore company in Belize.

However, in order to enjoy the above incentives, especially regarding taxes, Enterprises will need to comply with the requirements and notes set forth by the Belize government in parallel with business registration.

3. Requirements for opening a company in Belize for foreigners

An International Business Company (IBC), also known as an offshore company, will have the following basic characteristics:

3.1. Company name

The company name should be in English and not duplicate a name already in the Belize system and not violate legal regulations such as containing sensitive, government-related, or prohibited words.

3.2. At least 1 shareholder

There must be at least 1 shareholder for a Belize offshore company. A shareholder can be an individual/company.

3.3. At least 1 director

The company must have at least 1 director for the Belize offshore company (an individual can be both a director or shareholder of an offshore company in Belize).

3.4. Reputable unit supporting company registration

Establishing an offshore company in Belize requires businesses to have a reputable unit to support them and act as a representative to connect with the government. Global Link Asia Consulting is proud to be a reputable unit to support businesses in establishing an offshore company in Belize.

3.5. Registered company address in Belize

This is a requirement when opening a company. The office address here is generally the nominal registered address with the Belize Business Regulatory Authority: it does not serve the purpose of providing working space.

In case the Enterprise needs to rent an address for employees to work, GLA will support consulting and finding a suitable rental address and registering a suitable rental address.

3.6. Minimum capital 1 USD

Registering an offshore company only requires a minimum capital contribution of 1 USD, and businesses can increase capital later when expanding the company.

4. Scope of operations of Belize offshore company

In fact, an offshore company - an international business company (IBC) will conduct business with companies and partners outside of Belize. In other words, an offshore company in Belize will not conduct any commercial transactions (transactions generating revenue and profits) within Belize.

A Belize offshore company can transact with another Belize offshore company within Belize, as long as the companies comply with Belize international business laws.

5. Requirements to know when operating an offshore company in Belize

In order to comply with the International Business Companies Act and the latest version 2022 (International Business Company Act (Belize) companies operating in the following sectors will need to register a business license to operate:

1. Banking sector.
2. Insurance business field.
3. Agency/Registration Office Services.
4. Trust business.
5. Investment fund management field.
6. Collective investment sector.

In addition, companies in Belize are also required to declare the nature of their business activities in Belize (Economic Substance Report). Companies will be required to register for a tax identification number with the Belize Revenue Department to avoid penalties and enjoy tax privileges. 

In addition, companies in Belize must ensure that documents and records are retained for a minimum of five years to meet government requirements. Documents can be kept electronically or physically at the Belize office address.

6. Effective procedures for establishing an offshore company in Belize

With GLA's expertise, the company will receive comprehensive support in opening a company in Belize, ensuring legal compliance, optimizing costs and completing the process quickly and effectively with the following procedures:

7. How does GLA support businesses in establishing companies in Belize?

GLA, with experience supporting hundreds of businesses to open and effectively operate offshore companies in Belize, BVI, Seychelles, will support 

• Advice on the most suitable type of company to open in Belize. 
• Support in preparing documents and records for company registration.
• Support in meeting registration requirements from local agents, business addresses, licenses.
• Support to successfully open a bank account with a reputable physical bank or digital bank.
• Assist in preparing accurate financial statements, tax returns, and compliance with Belize government requirements.
• Support business license registration, meet Economic Subtance.

8. Frequently asked questions about setting up an offshore company in Belize

Highlights

• Businesses should establish an offshore company in Belize to enjoy tax incentives, low company opening costs and easy annual management.
• Offshore companies in Belzie need to meet the requirements of Econominc Subtance and register a business license when operating in the fields of trust, finance, banking.
• To open a company in Belize, the Enterprise needs to provide shareholder information, directors, company address, local agent information and company name.
• Opening a bank account in Belize is one of the solutions for foreign individual companies to easily manage their finances.