It costs between $700 and $1,800 to set up a company in Belize, with annual fees typically ranging from $250 to $1,400.
Belize has become one of the top destinations for entrepreneurs and expats due to its favorable tax system and ease of incorporation.
This guide covers:
- What are the benefits of a company in Belize?
- What is the fee to start a company in Belize?
- How much is the cost of business registration in Belize?
- Who should pay business tax in Belize?
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The information in this article is for general guidance only. It does not constitute financial, legal, or tax advice, and is not a recommendation or solicitation to invest. Some facts may have changed since the time of writing.
Why Set Up a Company in Belize?
Belize offers a favorable legal and financial environment for international businesses. Some of the main reasons to set up a company in Belize include:
- Tax Benefits – International Business Companies (IBCs) are exempt from local income tax on offshore earnings, capital gains, and dividends.
- Ease of Incorporation – The process is straightforward, with minimal reporting and disclosure requirements.
- Financial Privacy – Belize provides strong corporate confidentiality laws, making it a preferred jurisdiction for asset protection and estate planning.
- Cost-Effectiveness – Belize offers competitive incorporation and annual maintenance costs compared to other offshore centers.
How Much Does It Cost to Set Up a Company in Belize?
Initial fees typically fall between USD 700 and USD 1,800, with annual maintenance fees generally ranging from USD 250 to USD 1,400, depending on the type of entity, share capital, and service provider.
Initial Incorporation Costs
- IBCs (International Business Companies): Incorporation packages including government and service fees commonly range from USD 700 (for small share capital) to over USD 1,100–1,300. For instance, one provider lists a breakdown: USD 550 government fee + USD 584 service fee = USD 1,134 total.
- LLCs (Limited Liability Companies): Generally similar or slightly higher due to additional compliance. Another source reports approx. USD 1,040 for initial setup.
Annual Maintenance Fees
- Basic IBC packages with share capital under USD 50,000 often charge around USD 500 per year, covering license, registered agent, and office services.
- Higher share capital companies may incur more, up to USD 1,400–1,900 annually for share capital above USD 50,000.
- Government-reported renewal fees for domestic Belize companies show USD 250 for shares up to 50,000 and USD 1,000 for higher capital, but note this applies to domestic structures under Chapter 250.
Optional Add-Ons
- Nominee Services – Optional but often used to maintain director confidentiality.
- Legal and Compliance Support – Helps ensure adherence to international regulations like AML (Anti-Money Laundering) requirements.
- Bank Account Opening Fees – Some banks require minimum deposits or account setup charges.
How Much Is Business Registration in Belize?
Business registration in Belize can cost a few hundred to over a thousand dollars, depending on the company type and regulatory requirements.
- IBCs – Registration fees are included in the initial incorporation package and are generally lower due to simplified reporting obligations.
- Local Companies – Registration involves additional documentation and licensing, potentially increasing costs.
- LLCs – Require more compliance oversight, which may lead to higher registration and renewal fees.
Who Pays Business Tax in Belize?
- IBCs – Do not pay taxes on offshore income, capital gains, or dividends.
- Local Companies and LLCs – Must pay business tax on income derived from Belize-based operations.
- Annual Returns – IBCs are exempt from filing annual tax returns, though a simple declaration of good standing may be required.
Belize’s tax system is highly favorable for international entrepreneurs.
This tax framework allows businesses to structure operations efficiently while remaining compliant with Belizean law.
Conclusion
Belize’s appeal for entrepreneurs goes beyond low costs and tax advantages.
Its pro-business legal framework, growing reputation as a stable offshore hub, and flexibility in company structures make it suitable for asset protection, estate planning, and international trade.
Success depends on proper structuring and compliance with global standards, making professional guidance essential for long-term benefits.
FAQs
Can a foreigner open a bank account in Belize?
Yes, foreign entrepreneurs can open business bank accounts in Belize.
The process is smoother if you have a registered company, as banks require official documentation including company incorporation papers, beneficial owner information, business activity descriptions, and source-of-funds proof.
Non-residents must often obtain approval from the Central Bank of Belize, and account opening may require an in-person visit.
Having a Belizean company significantly enhances credibility and facilitates the process.
What are the main industries in Belize?
Belize’s economy is primarily driven by agriculture, tourism, and services especially offshore financial and related services:
-Agriculture includes sugar cane (nearly half of exports), bananas, citrus, cacao, and seafood production.
-Tourism, including ecotourism and reef-related activities, is a critical source of income and employment.
-The services sector, particularly financial services and BPO, also plays an increasingly important role.
Is Belize a tax haven?
Yes. Belize is widely recognized as a tax haven, thanks to its legal framework that allows offshore companies to enjoy tax-free status on various types of income such as dividends, capital gains, and interest.
The country also offers strong financial confidentiality and streamlined offshore incorporation under legislation like the International Business Companies Act and the Trusts Act.
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Adam is an internationally recognised author on financial matters with over 830million answer views on Quora, a widely sold book on Amazon, and a contributor on Forbes.
