The Belize International Business Company

Belize 's International Business Companies Act was established in 1990 and based heavily on the British Virgin Island 's model. It created a special category of corporate vehicle known as the international business company (IBC) which has since shown itself to be extremely attractive for use in all parts of the world.

Some of the primary attributes of the Belize IBC are as follows:

* Not subject to tax. The Belize IBC enjoys total exemption from all forms of taxation in Belize including stamp duty.
* No exchange control. A Belize IBC may freely open and maintain any type of currency account.
* Low cost. Whereas the government incorporation and annual renewal fee in the BVI, for example, are each US$350.00, in Belize , this fee is correspondingly only US$100.00. Further, there are no necessary audit requirements.
* Speedy and simple incorporation. The IBC Registry routinely incorporates a Belize IBC within 24 hours of lodgement of the constitutive documents of the company together with the prescribed fee.
* Confidentiality. Filing requirements are limited primarily to memorandum and articles of association, name of registered agent and address of registered office.
* Bearer shares may be issued subject to registered agent/professional intermediary custody requirement.
* Only one subscriber is required for incorporation.
* The Belize IBC may have only one director. Directors can be corporate and need not be resident in the country.
* Flexibility. A Belize IBC is capable of being incorporated for (or restricted to (as in the case of special purpose corporations)) any object not prohibited by the laws of Belize.
* Meetings of shareholders and/or directors may be held in any country at any time and may be attended by proxy. Resolutions of members and/or directors may be passed without a meeting.
* Shares can be issued without par value.
* A Belize IBC may be incorporated in any language (provided a properly translated English version is also submitted) and with an authorised share capital in a foreign currency. The Certificate of Incorporation is also granted in that foreign script.
* Belize IBC's may migrate into and out of Belize . However, once re-domiciled in Belize , the former governing law ceases to be operable.

Belize Bank's Corporate Services Division through Belize Corporate Services Limited, its corporate administrator, and other subsidiary and affiliate companies, offers such services as Belize international business company formation and maintenance and numerous other administrative and ancillary services including but not limited to virtual office and re-invoicing services.

As at the end of 2004, as the chart below shows, the Belize Bank Limited was responsible for the incorporation of around 50% of all IBC's incorporated with the IBC Registry of Belize.