REGISTRATION OF COMPANIES FOR BELIZE

The registry of vessels does not require the corresponding registration of a company in Belize nor the establishment of a presence in Belize other than the nomination of a resident agent to act on the owners behalf. However, shipowners may incorporate an offshore company or IBC.

The Belize International Business Companies Act of 1990 created a special category of company known as an INTERNATIONAL BUSINESS COMPANY (IBC). The benefits of an IBC formation include the following:

• No local taxation and no stamp duty
• Immediate formation
• Requires only one subscriber and thereafter one individual or corporate shareholder.
• Requires a minimum of one individual or corporate director who does not have to be resident in the country.
• Meeting of shareholders and/or directors can be held in any country at any time and by proxy.
• Bearer shares may be issued. The identity of shareholders and directors need not be filed for public record.
• Shares can be issued without par value.
• No currency exchange controls
• Minimal capital requirements.
• An IBC cannot engage in Belize Domestic Business, own real estate in Belize or engage in banking, trust or insurance business in Belize unless specially licensed to do so. An IBC, however, can open and maintain foreign currency accounts and deposits with Blize banks.

The incorporation of an IBC can be handled through R. J. DEL PAN & CO., INC. Application Form