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PURPOSE AND BENEFIT
Incorporating a Local Corporation is the first step in:
- Operating a new business in Belize
- Holding properties in Belize
- Setting up a Belize dollar corporate bank account
- Applying for Work Permits as self-employed. After 1 year under the Work Permit, Directors can apply for Permanent Residency. After holding your Residency Status for 4 years, you can apply for Belizean Nationality/Passport.
REQUIREMENTS (See Application Form)
- Proposed Name and two alternative names ending with “LTD.” or “LIMITED”
- Shareholders and Percentage of Ownership (minimum of one shareholder)
- Directors (minimum of one director with contact information)
- Company Officers - Chairman, Treasurer, Secretary, and General Manager (the same Directors & Shareholders can be the company officers)
- Passport copies of all Directors, Shareholders, and Officers (Only page with photo and signature. This can be emailed to us.)
- Share Capital (Minimum BZ $10,000.00 divided into 10,000 shares @ BZ $1.00) (This is not paid-up Capital and you are not required to deposit in a bank account)
- Subscribers (This will be provided)
FEE STRUCTURE
The Cost of setting up a Local Corporation in Belize is as follows:
Processing Fees for Local Corporation
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US $ 500.00 |
Administrative
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US $ 100.00 |
General Sales Tax (12.5% of $600.00)
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US $ 75.00 |
Total Processing Fees
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US $ 675.00 |
Incorporation & Filing Fee to the Government of Belize
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US $ 330.00 |
TOTAL DUE
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US $ 1005.00 |
PAYMENT OPTIONS
- We accept Credit Cards, Western Union Transfers, Bank-to-Bank Wire Transfers, Checks, Direct Deposits, and PayPal for payment of our services.
- There is an additional fee for the cost of sending documents by courier. Courier to the U.S. is US $50.00 and US $75.00 to Europe, Central and South America.
DOCUMENTS TO KEEP
With the purchase of your Local Corporation you will receive the following Original documents:
- Certificate of Incorporation
- Certificate of Compliance
- Memorandum & Articles of Association
- First and Second Minutes
- Resolution of First Directors
& Officers
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- Transfer of Shares to Shareholders from Subscribers
- Allotment of Shares
- Share Certificates
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COMPANY SEAL
A rubber company stamp will remain at the registered office. If you require an additional stamp/seal to keep, kindly make a request.
ANNUAL REPORT
For a fee of US $350.00, tax and filing fees included, we act as the Registered Agent/Office for the company. We will prepare the annual report for your company as required by Chapter 250 of the Laws of Belize. The annual reports are mandatory and must be filed 1 year after the incorporation date. This must be done annually to keep the company in good standing. A penalty fee applies for late filing.
CENTRAL BANK PERMISSION
Foreigners owning shares in the company needs an approval from the Central Bank of Belize. This takes approximately 2 – 3 weeks to obtain.
ADDITIONAL SERVICES
We offer additional local services at affordable prices including:
- Setting up corporate bank accounts
- Real estate/Closing services
- Work Permit/Residency assistance
Rev.6/08
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