Belize is located in southern Mexico, right in the middle of Central America. This small country of just over 300’000 inhabitants is a former member of the Commonwealth but keeps considering queen Elizabeth II as head of state. Consequently, Belize is the only state of the region having the English as its official language even if Spanish is commonly spoken. Belize is famous for its very business oriented legislation because based (once more) on the English model. Its flexibility and modernity are both a very big asset for this offshore jurisdiction which interests many foreign investors. The jurisdiction offers both bank secrecy and non disclosure of the identity of the owner of the companies registered on its territory and the tax authorities are tax friendly with all entities willing to do business out of Belize and encourage you to incorporate your company there by not taxing your offshore profit ie by doing business only out of the country.
Following is a non-exhaustive list of the benefits offered by Belize:
At FCBA Offshore Ltd we do recommend to open an offshore bank account or to incorporate an offshore company in Belize mainly for people not doing any business with companies located in the European Union because this jurisdiction is often seen as “exotic” in Europe and this could prevent you from being able to invoice and get paid by your European business partners. Also, the eight hours difference between Belize and Europe could prevent you from establishing an efficient daily contact with your bank.
Finally, be aware of the fact that the initial deposit required by the banks is not so big but the minimum balance of the bank account required to prove your solvency is quite big and could be therefore a drag for you to set-up your business there.