Limited Liability Company (LLC), International Business Company (IBC)
Tax Rates
3% - IBC, 0% - LLC
Legal Benefits
Free from any reporting requirements
Exemption from all local taxes for international business companies
Asset protection, due to anti-confiscation provisions enshrined in the law
The process of incorporation is very simple and takes very little time
Stable political system with long history of peaceful and democratic development
Information about beneficial owners, shareholders, directors is not available to the public
For LLCs there is no requirement to file an annual return, financial statements nor a tax return for companies that are not doing business within Belize.
Companies that wish to obtain a tax exemption certificate and non-resident status may need to prove economic substance and tax residency in another jurisdiction.
Note that companies physically present in Belize may be subject to capital controls under the Exchange Control Regulations Act.
IBCs will be able to obtain Tax Identification Number (TIN) and may be required to file annual tax returns and financial statements. IBCs with receipts of at least USD 6,000,000 may be required to file audited financial statements.
IBCs registered before October 16, 2017, are allowed to grandfather their existing tax exemption benefits up to June 30, 2021 - at that time they will need to comply with all the above requirements.
For IBCs registered from October 17, 2017, to December 31, 2018, the above requirements are immediately applicable to them. A transition period of 1 year has been granted
whereby IBCs must take the appropriate steps to ensure they are compliant.
The country has implemented the OECD automatic exchange of information (AEOI) and has signed tax information exchange treaties (TIEA) with 18 countries.
Belize