The Act provides for the incorporation and operation of two special
categories of company: the International Business Company (IBC) and the
Public Investment Company (PIC)
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1. Speedy incorporation. An IBC can be incorporated in twenty-four
hours.
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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.
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3. An IBC may be wholly owned by a single shareholder, and the
shareholder may be a corporation or an individual of any nationality.
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4. Bearer shares may be issued.
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5. Shares with no par value may be issued.
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6. Once incorporated, filing requirements are minimal.
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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.
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8. The IBC may have a single director, who may be an individual or a
corporation, and need not be resident in Belize.
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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.
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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.
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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 income tax.
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12. No stamp duty is payable on transfers of property to or by the
IBC; on transactions 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.
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13. The IBC is exempt from most exchange control regulations.
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1. An IBC may not carry on business with persons resident in Belize,
but it may:
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(a) hold and maintain deposits with a locally-incorporated bank;
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(b) maintain contracts with professionals, e.g. attorneys,
accountants, trust companies, investment advisers, etc., carrying on
business in Belize;
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(c) prepare and maintain books and records in Belize;
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(d) hold directors and shareholder meetings in Belize;
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(e) rent office space for corporate administration; and
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(f) own a registered vessel or vessels.
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2. An IBC may not own an interest in Belizean real property other
than a lease of office premises.
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3. An IBC may not carry on banking, trust, collective investment
schemes, insurance or re-insurance business unless licensed so to do in
Belize, nor may it carry on the business of providing the registered
office for other companies.
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1. The sole registration fee payable by a company whose capital does not exceed (US) $50,000.00 and all of whose shares have a par value is (US) $100.00. If some or all of the shares have no par value the registration fee is (US) $350.00.
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2. The sole registration fee payable by a company whose capital exceeds (US) $50,000.00 is (US) $1,000.00.
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3. An annual license fee is payable before the 31st July in each year in the amount of:
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(a) (US) $100.00 if the authorized capital does not exceed (US) $50,000.00 and all the shares have a par value;
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(b) (US) $1000.00 if the authorized capital exceeds (US) $50,000.00;
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(c) (US) $350.00 if the authorized capital does not exceed (US) $50,000.00 and some or all of the shares have no par value, or if it has no authorized share capital and all its shares have no par value.
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4. Payments of the annual license fee made after the 31st July but prior to the 31st October are subject to a 10% penalty, and payments made after 31st October are subject to a 50% penalty.
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