Belize

Belize was the site of several Mayan city states until their decline at the end of the first millennium A.D. The British and Spanish disputed the region in the 17th and 18th centuries; it formally became the colony of British Honduras in 1854. Belize was granted fill independence of September 21, 1981.

Belize is an attractive jurisdiction for both tax-advantaged incorporation and banking activities. An international business corporation (IBC) may be formed in Belize with a minimum of US$50,000.00 authorized share capital. The IBC need have only one shareholder (which may be corporate) and one director. Bearer shares are allowed. The identities of beneficial owners are not part of the public record. Shares may be issued without par value. No accounting or audit records are required to be filed or maintained in Belize.

Banking in Belize is governed by the Offshore Banking Act of 1996. Belize offers two types of offshore banking licenses. A Class A license requires a minimum capitalization of US$3,000,000.00. Class A banks must maintain a resident office. These banks may engage in foreign banking transactions through the resident office without restriction. However, the bank may not transact business with any resident of Belize. The requirements for a Class B bank are similar, although the Class B institution may not solicit deposits from the general public or provide current deposit or checking facilities in connection with the transaction of offshore business. A Class B license requires a minimum capitalization of US$1,000,000.00.

Please note that licensing continues to become more difficult each year due to pressure from the US and our Patriot act.