Arguelles & Company LLC specializes in incorporation and annual maintenance/filings of Local (“LTD”) and International Business Companies.
 Local Companies “LLC’s”
These companies are ideal for local investment, landholding or normal business activity within Belize. They are referred to as “Local Companies”, “Chapter 250 (from the number of the actual legislation) or “LLC’s”. When properly structured, they can provide Asset Protection, Tax Minimization and Confidentiality. While these compared to an International Business Company (IBC-discussed below) vary with regard to which aspect one is dealing with, they can generally protect the investment form frivolous lawsuits against the owner or owner’s associated companies. Separate legal status/entity is a vital and recognized aspect of Belize law.
Annual Filings are due and reveal normally, the minimum requirements being at least two directors (can be corporate directors) their addresses (or in some instances, Nominee Directors for added confidentiality) and shareholdings. This filing requirement is not mandatory for the IBC.
There are no restrictions on foreign ownership (can extend to 100%), repatriation of profits or transfer of ownership. Naturally, there are some very important permissions to be obtained but the firm assists with all such required permits and consents as a matter of routine.
Incorporation time is 24 hours subject to name availability and client is provided with Articles and Memorandum of Association, Certificate of Incorporation, Share & Director Registers, Resolutions and Powers of Attorney if required. A brief synopsis of required business notices and postings together with annual reminders are standard so that your company is never in danger of being struck off.
Arguelles & Company LLC also assists (if structures to be set up do not circumvent them) in procuring Trade Licenses, and all required tax registrations such as General Sales Tax, Income and Business Tax or Social Security Registrations.
These companies are available for most business in Belize but are generally set up to hold land and operate resorts.
Foreign Companies can also be registered in Belize without re incorporating as an “Oversea Company doing business in Belize” or can “Continue” under the IBC legislation. Please contact us for further details.
International Business Companies (“IBC”) & Trusts
These are companies that are set up to take advantage of Belize’s emerging reputation as a well regulated and international financial structuring center. They can do business only with non-residents of Belize but can have an office (only) in Belize and access Belize Offshore banks to open and maintain USD, Euro, Canadian and Sterling accounts. Retirees who fall under the QRP Programme also can qualify for this benefit while residing in Belize.
IBC’s are 100% tax free and subject to no reporting or filing requirements. Meetings can be held worldwide and there are no exchange permissions required, of currency conversion requirements.
Arguelles & Company LLC is an affiliate of its registered and licensed IBC & Trust branch, Orion Corporate & Trust Services Ltd. and can be accessed at www.orionibc.com for further details on this efficient and tax free entity. Orion Corporate and Trust Services Limited was declared by the Government of Belize via Statutory Instrument No 83 of 2003 as a "Trust Corporation."
The same can apply for Belize Trusts for which Orion Corporate & Trust Services Ltd. is also licensed.
Belize Trusts have no gestation period (usually 2 years) as Trusts in other countries. They are valid and effective from date of incorporation provided there is no duress, fraud or mistake and have been judicially interpreted to withstand claims of creditors, spouses and foreign tax agencies/governments. More information on this aspect including select cases can be obtained through further contact.
Trusts are used as an additional level of ownership for real estate, Chapter 250 and IBC’s, International Intellectual Property structuring and can be set up to ensure a smooth transition (i.e avoiding Probate costs and delays) upon death.
The office of “Protector” is also recognized under the Belize Trust Act. The Settlor can appoint anyone of trust (or appropriate qualification) or his choosing to act in this capacity to supervise and monitor the trustee and duration of the Trust.
Both IBC and Trust registries offer maximum confidentiality to the inner workings, structures and parties concerned.
Members of the firm are also members of prominent local and International organizations such as:
Belize Offshore Practitioner’s Association
Belize Bar Association
English Society of Trust & Estate Practitioners (STEP Miami Branch)
International Tax Planning Association (ITPA)
International Bar Association
To contact a Belize Lawyer: 35 New Road, Belize City, Belize |
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