Belize City, Belize
Tel: +501 2 – 30681 & +501 2 – 34123
Fax: +501 2 – 33907

IBC ACT OF BELIZE

FEATURES OF AN INTERNATIONAL BUSINESS COMPANY

1. Speedy incorporation. An IBC can be incorporated in twenty-four hours.
    
2. Anonymity. No accounts or information pertaining to the identity of shareholders or directors is required to be filed in the Registry. Nor is the IBC’s share register and other records open to inspection other than by its shareholders or by order of the Court upon the application of a shareholder.  Nominee shareholders and directors are allowed.
    
3. An IBC may be wholly owned by a single shareholder, and the shareholder may be a corporation or an individual of any nationality.
    
4. Bearer shares may be issued.
    
5. Shares with no par value may be issued.
    
6. Once incorporated, filing requirements are minimal and no audit of accounts is required.
    
7. The Act does not require that there be any correlation between the paid up capital and the value of the assets of the IBC, and capital requirements are minimal.
    
8. The IBC may have a single director, who may be an individual or a corporation, and need not be resident in Belize.
    
9. Meetings of directors and/or shareholders may be held in any country, and may be attended personally, by alternates, by telephone or by any other electronic means.
    
10. Resolutions of shareholders and/or directors may be validly passed without a meeting if the shareholders consent in writing, by telex, telegram, cable or other written electronic communication.
     
11. The income of the IBC; dividends and other distributions paid by the IBC; interest, rents, royalties and other payments by the IBC to non-residents; and capital gains on shares, debt obligations or other securities of the IBC to non-residents are all exempt from local income tax.
     
12. No stamp duty is payable on transfers of property to or by the IBC; on transaction in respect of the company’s shares, debt obligations or other securities; or on instruments relating in any way to the assets or activities of the IBC.
     
13. The IBC is exempt from most exchange control regulations.

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* LIMITATIONS ON THE ACTIVITIES OF AN INTERNATIONAL BUSINESS COMPANY

1. An IBC may not carry on business with persons resident in Belize, but it may:
   (a) hold and maintain deposits with a locally-incorporated bank;
   (b) maintain contracts with professionals, e.g. attorneys, accountants, trust companies, investment advisers, etc., carrying on business in Belize;
   (c) prepare and maintain books and records in Belize;
   (d) hold directors and shareholders meetings in Belize;
   (e) rent office space for corporate administration; and
   (f) own a registered vessel or vessels.
    
2. An IBC may not own an interest in Belizean real property other than a lease of office premises.
    
3. An IBC may not carry on banking, trust, collective investment schemes, insurance or re-insurance business unless licensed to do so in Belize, nor may it carry on the business of providing the registered office for other companies.
    
4. An IBC may not own shares in a local Belizean company.

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The information provided is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information, but should act only after obtaining appropriate professional advice.