Belize is a classic among the offshore tax havens. Few other offshore jurisdictions offer the range of benefits and features that Belize does. Belize began its first forays into offshore business with the introduction of the International Business Companies Act in 1990, allowing for zero taxation on IBCs.
With its low incorporation costs and flexible legislation, it is rapidly becoming a viable alternative to other more expensive jurisdictions.
There are the following types available for incorporation in Belize:
- International Business Companies,
- Trust Funds,
- Private Companies,
- Limited Liability Partnership,
- Limited Life Companies,
- Public Investment Companies,
- Joint Ventures and Cooperatives,
- Partnership,
- Sole Proprietor
The most popular forms of offshore entities registered by most international businesses are the International Business Company or Trust. They can be used either separately or in combination.
Belize can offer the widest range of investment vehicles. The largest outbreak in the development of Belize offshore industry happened in 1998, with the election of a new Government in Belize and more accent on the offshore services sector. The new 7 offshore industry measures were added to the legislation in 1999. They included:
- the International Financial Services Commission Act, aimed in promoting, protecting and enhancing an international financial services center of Belize and regulating the provision of international financial services,
- the Mutual Funds Act, providing for the authorisation, regulation and control of mutual funds, their managers and administrators,
- the Protected Cell Companies Act, allowing to incorporate protected cell companies or convert existing company to a protected cell company,
- the International Insurance Act, which provides for the regualtion of people opening and holding international insurance business,
- the Limited Liability Partnerships Act, which allows to create limited liability partnerships,
- the International Business Companies (Amendment) Act, providing for the establishment of limited life companies,
- the Retired Persons (Incentives) Act, which offers certain tax exemptions and incentives to qualified retired persons.