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Belize
An independent nation since 1981, Belize lies on the eastern coastline of Central America, bordered on the north by Mexico, on the west and south by Guatemala, and on the east by the Caribbean Sea. It is a member of British Commonwealth of Nations.
Approximately 8,866 square miles in size, the population of Belize is approximately 250,000. English is the official language and is widely spoken, as is Spanish.
The Belize Dollar is fixed to the US Dollar at a rate of BZ $2.00 = US $1.00. The legal system is based on English Common Law. The International Business Companies Act 1990 was heavily influenced by the success of similar legislation in other jurisdictions and therefore its main features closely follow other popular Caribbean jurisdictions. It includes:
- An IBC can normally be incorporated within 48 hours
An IBC must have a minimum of one director, who may be an individual or a corporation. A secretary is not obligatory.
- An IBC requires a minimum of one shareholder. The shares have to be registered.
- The normal authorised share capital is US $50,000.
- There is no minimum paid up capital requirement.
- No minimum or maximum capital requirements.
- An IBC must have a registered office and registered agent in Belize. There is no restriction, however, as to the location of meetings.
- No requirement to disclose beneficial owner to the local authorities.
- An IBC does not require audited accounts and there is no requirement to file company's accounts.
- Belize does not impose income tax, profits tax, capital gains tax or gift tax on an IBC.
- Double tax treaties with United Kingdom, Sweden, Denmark and the countries of the Caribbean Community (CARICOM).
- No exchange controls.