Located on the Caribbean seaboard of Central America, Belize is an independent democratic Commonwealth. Since its independence from Britain in 1981, it has enjoyed a stable and democratic Government. With the introduction of the International Business Companies Act in 1990, Belize is one of the newest Caribbean jurisdictions to the offshore market. Flexible legislation modelled from the British Virgin Islands has enabled Belize to steadily become a popular offshore corporate domicile.
In this small, essentially private enterprise economy the tourism industry is the number one foreign exchange earner, however offshore banking is booming in this tax haven economy.
By virtue of the IBC Act 1990, International Business Companies are exempt from all taxation. The incorporation procedure of an IBC is extremely cost effective and speedy. An IBC in Belize has minimal filing requirements and is not subject to exchange or currency controls. Due to legislation changes, the Registered Agent in Belize or their intermediary must retain bearer shares.