Belizean International Limited Liability Companies (Belizean LLCs)

Belizean International Limited Liability Companies (LLCs) are one of the newest enhancements to Belize’s burgeoning offshore sector.

The Belizean International LLC Act was passed into law in 2011. The passage of the Act enabled the formation of a corporate vehicle that offers the advantages of a corporation and the advantages of a partnership without the disadvantages of either, coupled with a jurisdiction in Belize that is known for financial privacy, high flexibility, and no foreign exchange limitations, among other things.

 

Key Asset Protection Features of a Belizean International LLC

Part IV of the 2011 the Belizean International LLC Act outlines the asset protection strengths of Belizean International LLC entities:

  • Section 36(1) provides that an LLC, its manager(s), and members are protected against court judgments delivered by a court outside Belize. This means the assets in your Belizean International LLC holding will be safe regardless of what happens in your home country.
  • Section 36(2) provides that creditors of LLC members can legally apply for charging orders against a particular member’s interest. However, the judgment creditor shall only be limited to the rights of the assignee of the specific member. 
  • Section 57 makes it impossible for assignees to partake in managing the affairs of the LLC.
  • Section 37(7) outlines the procedures involved in bringing a lawsuit against an LLC. Creditors would first have to deposit $50k or half of the amount claimed (whichever one is higher) with the Supreme Court Registry of Belize. This, along with the costs of a Belize legal counsel, will be needed before they can institute legal action against the property of a Belizean International LLC. 

These sections intend to minimize lawsuits by imposing a significant financial burden on individuals or entities attempting to institute legal actions against the assets of a Belizean International LLC. It’s meant to deter anyone from bringing a lawsuit against a Belizean International LLC or its assets, members, or managers.

 

 

Key Benefits For Forming an International LLC in Belize

Core benefits of a Belizean International LLC include:

  • Ease of formation by anyone, regardless of nationality.
  • Modern asset protection, and best-in-class privacy measures.
  • Low government fees.
  • Formations can be completed within days.
  • Exemption from income tax, capital gains tax, dividend tax, etc.
  • No annual requirements.  No requirements to provide audits or visit Belize for meetings.
  • Belizean International LLC companies can keep their accounting records in any location, even outside the country.
  • No legal requirements to disclose the identity of beneficial owners or founders of a Belizean International LLC.
  • High level of financial privacy. Your details can be kept out of all government registers as per your wishes.

How to set up a Belizean International LLC

Our professionals at Wrobel & Co., Attorneys-at-law can help you form a Belizean International LLC. The process involves three key steps:

 

  1. Confirmation of company name

The process starts with choosing and then confirming your LLC company name. This will have to be submitted to the Companies Registry. Foreign investors can choose any name they please in any language. 

This will be confirmed so long as the name:

  • meets local requirements
  • does not contain prohibited names, and 
  • does not infringe an existing company name

 

  1. Preparation of company documents

This process involves the preparation of important constitutive company documents such as Memorandum of Articles of Association.

This process will usually be handled by your Belizean attorney. It’s essential that this be handled by competent and experienced hands. 

 

  1. Submission of documents

After the documents have been properly drawn up, they’ll have to be submitted to the Companies Registry for registration. Your new LLC will be formed after this.

 

If you want to open a corporate bank account after your LLC has been incorporated, we can assist with that as well.  Click here to learn more.

 

 

Bottom Line

Belizean International LLCs should be high on your list of priorities if you’re looking for an international corporate option.

Along with its asset protection and wealth management advantages, the flexibility of the Belize International LLC Act means you can form a Belizean International LLC for a variety of purposes. Management and maintenance of the company are also devoid of complex requirements.  You will not even need to visit Belize to incorporate an LLC. 

Our professionals boast a robust knowledge and experience of the Belize legal and financial systems.  We’re available to answer any questions you may have about Belizean International LLCs. Contact us today to get started.

 

Legal System: Common Law

Shelf Companies Available: Yes

Non-English Company Name allowed: Yes

Time to Incorporate: 2-5 Days

Change in Domicile Permitted: Yes

Taxation on Profits: No

Exchange Controls: No

Corporate Requirements

Minimum Members: 1

Minimum Managers: 1

Duration: Perpetual

Limited Liability: Yes

Location of Meetings: Anywhere

Corporate Managers Permitted: Yes

Administration: Anywhere

Local Requirements

Registered Office/Agent: Yes

Company Secretary: No

Manager: No

Meetings: No

Public Filings

Managers: No

Members: No

Beneficial Owners: No

Accounts: No

Annual Requirements

Minimum Government Fee: US$150

Annual Return: No

Accounts: Yes

Audited Accounts: No

Why choose Wrobel & Co?

let us Count the ways:

E

We live in Belize, so we know the lay of the land in our country. Have you visited our office? We have a spectacular view of the Caribbean Sea!

E

We’re a law firm, so we know the ins and out of the legal system here

E

We have more than a decade of experience with the offshore sector and the establishment of Belize offshore companies

E

We’re big enough to get you what you need when you need it … but we are small enough that you’ll be treated as valued customer and friend

E

We’re available Monday through Friday to answer any questions you may have in a friendly, professional manner

E

Contact us anytime by email or message on chat, and we’ll get back to you within 24 hours

How can we help you?

Contact us at info@lawbelize.bz

Contact

+(501) 223-1013
USA (646) 559-6757
info@lawbelize.bz

Find Us

111 North Front Street
Seaside Suite 201
Marine Terminal
Belize City, Belize

Copyright © 2019 Wrobel & Co.
All Rights Reserved.

Attorney Disclaimer & Privacy Policy

 

Belize llc Belize real estate lawyer Belize real estate attorney

Subscribe Now!

Get info about the goings-on in Belize, directly from our Managing Partner, Ryan Wrobel. Our newsletter goes out every 6 weeks (or so).

You have Successfully Subscribed!