Belize

Population:

280,000 (July 2005 est)

Currency:

Belize dollar at US$1 = BZ$2 (mid-2005)

Language:

English

Time zone:

GMT minus 6

Centre's expertise:

Flexible, competive charges, and with superior trust laws of asset management

General requirements

Type of entity

IBC

Type of law

Common Law

Shelf company available

Yes

Time to establish a new company

2 days

Taxation

Nil

Double taxation agreements

None

Forex restrictions

None for offshore activities.

Language & name restrictions on companies

Anything that suggests royal, imperial or government patronage or already taken is banned; names can be in any language and Chinese incorporations with Chinese documentation are popular

Share capital

Permitted currencies

Any, but US$ normal

Minimum paid up

US$1

Usual authorized capital

US$50,000

Directors and personnel

Minimum number

1

Local required

No

Company secretary & qualifications

No

Shareholders and AGM

Minimum number

1

Disclosure requirements

No

Publicly accessible records

No

Obligations for annual meetings

No

Location of AGM

Anywhere

Accounts

Requirement to prepare

Yes

Audit requirements

No

Account filing obligations

No

Publicly accessible accounts

No

Other

Requirements to file annual return

No

Change in domicile permitted

Yes

Need to registered office

Yes, must be in Belize at the address of a licensed management company

Number of companies set up in last year

6,230 in six months to June 2005

Total number of companies on register

47,000