Belize is one of the most popular places for registering an offshore financial company, because:
- This is a well-regulated, but easy-to-use jurisdiction.
- The Belizean government supports the growth and development of the international financial services sector. This activity is fairly regulated and reflects global business trends, including in terms of taxation.
- The offer is quickly considered compared to most offshore financial centers.
- The price is lower, than in most offshore financial centers.
Why do I need to obtain a license for financial activities? There are many diverse services in the financial environment. These include various types of risky activities: the asset protection and management services, money transfers, payment processing services, a foreign exchange trading, monetary intermediation services, foreign exchange transactions, accounting services and many others. When choosing a company as a client, the presence of a license issued by an authorized state body is often one of the decisive factors.
What you need to do to obtain a license in Belize?
Conditions for opening a company in Belize:
Shares must be registered, bearer shares are not allowed;
A nominee service is prohibited;
The company must comply with requirements of economic presence, namely:
have a sufficient number of qualified personnel providing the core business of the company in Belize;
the level of expenses should correspond to the size of the business and the type of activity;
a control and the management of the company should be carried out from Belize (at least 2 resident directors);
a paperwork should also be conducted in Belize;
directly or indirectly have at its disposal premises and equipment in Belize.
The requirements for an economic presence must be met through an accredited managing agent, that we can provide to you.
The amount of the authorized capital of the company depends on the type of activity (25,000 USD for the asset management and accounting services; 50,000 USD for depository activities and accounting services; 50,000 USD for depository activities and brokerage/consulting/consulting services; 75,000 USD for money transfer services, a payment processing, brokerage services, a cash lending and the collateral, foreign exchange transactions; 500,000 USD for trading in foreign currency, financial instruments and commodity derivatives).
The procedure for applying for a license in Belize:
The main regulatory and licensing authority for the financial sector in Belize is IFSC.
An application procedure. The applicant must:
- open a bank account in Belize;
- transfer the registered capital, not touch it during the license period;
- complete the IFSC form;
- pays a registration fee of 1000 USD.
- transfer necessary documents, an extract from the bank on the size of the authorized capital to IFSC through our processing.
- a completed application;
- notarized certificates of directors, managers, sharers, beneficiaries;
- KYC documents: passport pages, an address confirmation, CV, a professional advice, the extract;
- a detailed business plan for 3 years;
- policies and procedures for internal control, compliance and anti-money laundering;
- corporate documents: a certificate of registration, the register of members, a MOA;
- a website to be used after obtaining the license;
- the auditor;
- a certificate of qualification of managers, at least one of them must have knowledge of this license;
- letters of guarantee.
Documents for opening an account under the authorized capital in Belize:
- A completed application form a bank;
- The notarized minutes of the meeting, familiarization with the General conditions of the deposit agreement;
- Notarized copies of passports and EIN;
- A certified confirmation of the address;
- The actual recommendation on the director, beneficiary, account managers (issued by another bank, lawyer, accountant);
- A certificate of registration, statutory documents, a certificate of absence of debt on taxes/fees, documents on the appointment of the director, the list of shareholders, an audited financial statement (at the request of the bank).
IFSC license fee
- A payment for filing an application 1000 USD (as described above);
- The payment of annual license:
- 5000 USD;
- An annual payment must be paid before January 1.
Additional payments for obtaining a financial license in Belize:
- A payment for filing all necessary applications is 6000 USD;
- Opening a bank account in Belize costs 500 USD;
- A payment for registering an IBC company in Belize is 1500 USD;
- A local representative costs 6000 USD for 1 year, 4000 USD - from the second year; the annual renewal is 11000 USD;
- A payment for the extension of the company is 1500 USD;
- The payment for submitting all necessary applications for license renewal is 4,500 USD.
A license is a permitting document certifying the right of your company to carry out the envisaged activities, and getting it is not so easy. That is why a lot of documents are required, and the authorized capital serves to cover possible risks. Receive for personal advice on licensing the international business from specialists of IQ Decision. We can register a company in Belize, issue a Belize license for your type of activity.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
Still have any questions?
Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.