Set up your business in Belize

Registering a business name in Belize is the first step to forming your business. Protecting your business name is important because it is a form of identification among your target markets. This task will be undertaken by the Belize Company and Corporate Affairs Registry (BCCAR). We encourage you to contact One IBC via phone or email, so we can help you with the procedure of business name registration in Belize.

Follow our 4 simple steps to register a business name in Belize:

Step 1: Place an order with One IBC

For inquiries on fees and vetting of documents, kindly email to [email protected].

Your order should include 3 proposed names, One IBC will conduct a company name search to make sure that your business name is unique and valid in Belize.

Step 2: Make payment

The next step is to make your payment to One IBC. Make sure you’ve placed the order of all services that you need. Please see our Payment Guidelines for more details.

Step 3: Fill required documents

The required documents to register a business name in Belize must be filled accurately. The checklist of required documents is as follows:

• Registration of a company with and without Liability
• Overseas Registration
• Business Name Registration
• Limited Liability Partnership Registration

Step 4: Register your business name

One IBC will submit your original documents to BCCAR. We keep you updated throughout the business name registration in Belize.

Yes, there are no restrictions on foreigners opening a bank account. In fact, many foreign individuals and companies have opened an offshore bank account in Belize, including US citizens.

There are two forms of offshore banking in Belize: A Class - Unrestricted license and B Class - Restricted license.

• A-Class requires the holder to open, manage and operate a business in Belize;
• B-Class has similar requirements and applications as the A-Class, the difference is only that offshore banking operation in B-Class is limited to specified activities as stated in the license.

The required documents to open an offshore account in Belize

You can open an offshore account for the international company in Belize. There are various types of documents that are required to submit such as company license, driver’s license, social security equivalents, v.v. and it depends on the bank you choose but the general requirements are as follows:

• Notarized copy of valid passport or document with signature, photo, and personal identification;
• Proof of your residential address such as original utility bill of the residence;
• A bank reference from a bank that has more than 2 years of history with you;
• Professional reference from a lawyer or accountant with 2-year history or a second bank that knows you for over two years.

When doing business in Belize, it is important to get the right business license for your company. Generally, there are two main types of Belize license that you must know:

Trade license in Belize

Businesses providing any kind of service or product in Belize have to obtain a trade license. You can register the license with the local city or town council. The fees for trade licenses in Belize are divided into sectors and charged based on the annual rental value of the property. For instance, supermarkets, grocery stores, furniture stores, and repair businesses are subject to a 3.5% fee. Hardware stores, gas stations, and dentistry offices are all subject to a 5% fee. For businesses engaging in gaming or monopolies, the highest rate is 25%.

Belize financial license

If your business operates in the international financial services industry in or from within Belize, you must carry a Belize financial license. The Belize Financial Service Commision (FSC) is in charge of granting the license. There are 13 types of Belize financial license, prominently including International asset protection and management, Money Transmission, Accounting, and Payment processing Services. The application fee is flat US$1,000 for each type, but the renewal fee is different ranging from US$5,000 to US$25,000.