Belize

General
Type of entity	IBC
Type of law	Common
Shelf company availability	Yes
Our time to establish a new company	1 day
Minimum government fees (excluding taxation)	US$100
Corporate Taxation	Nil
Double taxation treaty access	No
Share Capital or Equivalent
Standard currency	US$
Permitted currencies	Any
Minimum paid up	No minimum required
Usual authorised	US$50,000
Directors
Minimum number	One
Local required	No
Corporate Directors Permitted	Yes
Publicly accessible records	No
Location of meetings	Anywhere
Shareholders
Minimum number	One
Publicly accessible records	No
Location of meetings	Anywhere
Company Secretary
Required	Optional
Local or qualified	No
Accounts
Requirement to prepare	Yes
Audit requirements	No
Requirement to file accounts	No
Publicly accessible accounts	No
Other
Requirement to file annual return	No
Change in domicile permitted	Yes

Introduction
Belize (formerly British Honduras) is a scenically beautiful, independent country located on the Caribbean seaboard of Central America. It has an area of approximately 23,026 sq km, and is bounded by Mexico to the north and Guatemala to the west and south.

The administrative capital is Belmopan, but the major commercial centre is Belize City, which is located on the eastern coast close to the major international airport.

Population
The total population of Belize is approximately 312,000 of which some 70,000 live in Belize City. Much of the country's population is ethnically diverse and includes descendants of the original Mayan culture and people of Caribbean, Caucasian, Chinese, and East Indian descent.

Political Structure
Belize has a long history of peace, stability and democracy. It became a British Crown Colony in 1862 and achieved complete self-rule in 1981. Belize is a member of the British Commonwealth, the United Nations and the Non-Aligned Movement.

Belize is a parliamentary democracy and constitutional monarchy, which recognises HM Queen Elizabeth II as head of state represented by a Governor General who must be a Belizean national. The National Assemby is composed of the Senate and the House of Representatives, the Senate has 12 members and the House of Representatives comprises of 29 members, directly elected at intervals of no longer than five years. The prime minister and cabinet have executive power. There are two main political parties; both parties are committed to the economic development of the country and the encouragement of overseas investment. The next elections are to be held in March 2008.

Infrastructure and Economy
Belize's unspoiled environment with cays and barrier reef make it a popular destination for eco-tourists, whilst its clear unpolluted waters are excellent for swimming, diving, fishing and other aqua sports.

The country also offers a unique mix of unspoiled woodlands, caves, rivers, mountains, waterfalls and jungle, in addition to a wealth of Mayan archaeological sites. There are also forest reserves, wildlife sanctuaries, marine resort areas and the world's only jaguar reserve.

Major exports are sugar, bananas, citrus products, fishery products, garments and timber and wood products. The offshore finance industry is generating an increasing proportion of national income.

Language
The official and spoken language is English but Spanish is widely spoken.

Currency
The Belize Dollar (BZ$).

Exchange Control
Offshore activities are exempted from exchange control.

Type of Law
Common Law. Based on English Company Law.

Principal Corporate Legislation
International Business Companies Act, 1990, amended 2000.

Belize

Information

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