BELIZE



Belize is a relatively small country with an area of 22 960 km² and a population of 294 385 (July 2007), situated in Central America, between Mexico and Guatemala and bordering the Caribbean Sea. The national capital had to be changed from Belize City to Belmopan because of the constant risk of hurricanes. The climate is very hot and humid, with a rainy season from May to October and the threat of hurricanes from September to December. The economy depends largely on agriculture, and agriculturally oriented industry, though tourism and construction are on the increase. The official language is English, and there is also a strong Spanish influence, as well as the local Mayan and Garifuna languages. The unit of currency is the Belize dollar.

History

Prior to the arrival in the New World of Columbus, Belize was inhabited by the Maya people, whose language is still alive today. The Spanish were the first European settlers, followed by the English, who inhabited an area around the Belize River. Spanish influence in Belize and the neighbouring countries was greatly reduced at the beginning of the 19th century, and Belize fell increasingly under British rule. By the end of the century Belize had been declared an independent crown colony (1884). Full independence was granted in 1981.

Politics

Belize is an independent state within the British Commonwealth, and as such Queen Elizabeth II is the Head of State. She appoints a Governor General as her representative, and he in turn appoints a prime minister. Government is by parliamentary democracy, consisting of two houses. The Senate is a body of 8 members appointed by the prime minister, the leader of the opposition and the Belize Advisory Council. The National Assembly is a body of 29 members duly elected by direct popular vote for a term of five years. The two major political parties are the People's United Party and the United Democratic Party, with a smaller National Alliance for Belizean Rights also in operation.

INCORPORATION DATASHEET
Method of incorporation / registration:	The Memorandum and Articles of Association must be signed by the subscriber. The subscriber must be a local person licensed for the purpose.
Company legal form:	Private Limited Company by shares
Company status:	International Business Company (I.B.C.).
Source of corporate legislation:	Common Law - International Business Companies Act, 1990.
Possible suffixes to company name:	Ltd., Limited, Incorporated, Inc., S.A., Corp., Corporation.
Restrictions on company name:	The terms Bank, Imperial, Insurance, Chamber of Commerce, Trust, Trustee and Royal may not appear in the company name.
Time required for incorporation:	2-3 weeks.
Number of directors:	Minimum 1 of any nationality.
Number of shareholders:	Minimum 1.
Capitalisation:	No minimum.
Accounting / reporting requirements:	Not applicable.
Type of shares:	Registered.
Annual tax and duties:	Minimum 100 USD if the authorized capital less than 10 000 USD
Information publicly available:	Registered office and registered agent.
Disclosure of beneficiaries:	Not required.
Registered office:	Local registered office is required by law.
Registered secretary / agent:	Local registered agent is required by law.
Double tax treaty:	Belizean IBCs are not subject to DTTs.

COMPULSORY COSTS (payable prior to registration)

FORMATION FEES
Incorporation fee:	390 USD
Notarial certification:	160 USD
International authentication (Apostille):	160 USD
Legal expenses, filing fees and stamp duties:	115 USD
Issuing of share certificates and initial minutes and forms:	70 USD
Corporate seal:	50 USD
Courier fees:	50 USD
Subtotal:	790 USD

ANNUAL FEES
Registered office and registered agent:	780 USD
Annual tax and duties:	100 USD
Subtotal:	880 USD
Total:	1670 USD

*The annual fees for the first year of existence of the company are payable prior to registration, and include annual tax for the first calendar year and fees for registered office and agent from the date of incorporation to July 1st of the following year. The 880 USD is payable annually, starting from July 1st of the year following the year of incorporation. Non-payment of the annual fees results in the company being struck off the Company Register.
The amount of 1670 USD includes the following services: formation of the company, duties payable to the local authorities for the registration of the company, provision of registered office and registered agent for 1 year, annual tax for the 1st year, luxury leather corporate kit containing Certificate of Incorporation with Apostille, Memorandum & Articles of Association authenticated by Registrar, Appointment of First Directors with Notary Public authentication, share certificates, initial forms and minutes, and 2 company seals. The price contains no hidden costs!

OPTIONAL COSTS
Nominee director (private person):	690 USD / year
Nominee shareholder:	290 USD / year
Certificate of Incumbency:	130 USD
Power of Attorney with Notarial Certification:	390 USD
Notarial Certification or Apostille:	160 USD
Certificate of Good Standing:	330 USD

LAVECO Ltd. is pleased to offer its clients shelf companies in Belize which are available at the same cost. In the case of purchase of a shelf company the paperwork and documentation involved can be completed in just one hour. Contact our office for details and a list of shelf companies!

SPECIAL OFFER
Formation fees including annual fees for the first year. Ready made Belizean company with nominee director, nominee shareholder and notarised Power of Attorney:	2750 USD
Fees payable from the second year. Annual tax and duties, registered office and registered agent, nominee director, nominee shareholder and notarised Power of Attorney:	1960 USD