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What is the difference between an International Business Company (IBC) and a Limited Liability Company (LLC) in Belize?
- The owners of an IBC are known as “shareholders” whose ownership percentages reflect the number of shares they own.
It is relatively easy for a corporation to authorize additional shares, or for shareholders to transfer their shares to someone else.
- The owners of an LLC are called “members”. Each member owns a percentage, or “membership interest” in the business.
The ownership of an LLC is outlined in the operating agreement—other details include the percentage each member owns, how the business is run, and how the company will deal with a new or departing member. Without an operating agreement, the LLC operates according to the International Limited Liabilities Act.
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Is there any obligation to file accounts while registering a Limited Liability Company (LLC) in Belize?
Yes, accounting records must be kept in Belize or the location where accounts are kept must be declared.
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Do you assist to register an International Business Company (IBC) or a Limited Liability Company (LLC) in Belize?
Generally speaking, we assist in registering a Limited Liability Company (LLC) in Belize.
However, if you are interested in registering an IBC in Belize, we recommend you to
contact us and our team will assist you accordingly.
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Do I need to obtain a Tax Identification Number (TIN) for my Belize Offshore Company?
Following the adoption of the Economic Substance Act, IBC companies incorporated in Belize need to obtain a Tax Identification Number (TIN) from the Belize International Corporate Affairs Registry.
However, if you setup your company as an LLC, then a TIN number is not required in Belize.
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Will my Limited Liability Company (LLC) be subject to Economic Substance Regulations (ESR) in Belize?
The Economic Substance Act, was enacted to ensure improved provisions for substantial economic presence to be fulfilled by IBC companies that are registered and/or conduct business in Belize.
However, if you setup your company as an LLC, then your company is not subject to ESR requirements in Belize.
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Will my liability be limited if I register my company as a Limited Liability Company (LLC) in Belize?
An LLC limits the liability of its members to the extent of the contributions made by them to the Company.
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Do I need to travel at any stage to form a company or to open a bank account in Belize?
No, everything can be processed remotely.
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Do I need to open a bank account in Belize?
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How do I register a company in Belize? How long does it take to open a company in Belize?
A Belize company registration is a very swift process, which usually takes no more than a couple of days. If you’re looking for a jurisdiction where your new business can be set up very quickly, Belize could be the ideal match for you.
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What are the costs of registering a company in Belize?
Belize company registration fees can vary based on the type of business you wish to set up (IBC, LLC, etc.). And since Belize companies are required to have a registered agent with a physical address on site, the need of working with a corporare service provider such as SFM is crucial. At SFM, we believe in providing personalized support to help our clients get all the assistance they need without any unnecessary additions. Let us know how we can create the ideal experience for you and your business.
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Will my company be subject to taxes if I setup my company in Belize?
Yes, LLCs in Belize are required to file tax returns every year.
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Is there any obligation to file accounts while registering a Limited Liability Company (LLC) in Belize?
Yes, accounting records must be kept in Belize at the Registered Office’s address.
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Do I need to obtain a Tax Identification Number (TIN) for my Belize Offshore Company?
Yes, it is necessary to obtain a Tax Identification Number (TIN) for your Belize Offshore LLC Company. This identification number is required for fulfilling tax obligations, including paying taxes and filing annual tax returns. It ensures compliance with tax regulations and facilitates proper documentation and reporting of financial activities.
