Belize Company Registration Requirement

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 8, 2010 -- To register a company in Belize, the most important requirement is the company name. Any other company should not have registered this name. A registrar has the register for all companies. You have to conduct a search for the business name you intend to use and if the name is already registered, you have to get another business name. The search is not chargeable.

After you have the business name, you are required to have a memorandum of association and an article of association, which are the two requirements of every company as required by the law. Belize uses British common law and the company regulations are found in the Business Act that was enacted in 1990. Registration also requires the company proprietor to prepare statutes that will govern the operations of the company. This does not mean that the Belize government will interfere with the internal company operations. The government aims at ensuring that all the companies enjoy equal treatment and in case there is a controversy in the company, there is a point of reference on the operations of the company.

Other requirements that are needed for the registration include money that is payable upon registration. The registration fee is 500 Belize dollars and an extra 10 BZD for filling. In addition to these fees, the statutes and the memorandum are charged a fee of 12 BZD each while the list of company directors is charged 13 BDZ. There are no other fees that are chargeable at the registration process. However, there are licenses that will require you to pay certain amounts of money before trading.

Other documents are deemed important by the Belize government. These include the minutes of the first meeting that the shareholders held when they decided to set up a company in Belize. These minutes serve as an archive at the registrar’s office. Share certificates of shareholders too are important since they help the government in evaluating the tax returns of the company. The other requirements that a company must have before registering in Belize are a physical address. This serves as a guarantee that the government can get the management of the company at anytime they would like to consult them. The company premises are usually inspected to ascertain that the environment in conducive for the operations of the company.

A company is also required to register with the income tax department of the country so that the remit taxes on their incomes. Another tax registration requirement is for the sales. This is called the general sales tax that is payable on every sales of goods. The company management should also register their workers in the social security board so that the board can pay the workers after their retirement.
Opening an IBC in Belize is a stroll in the park and as such if you carry out international business, consider Belize for your base.

More information can be found online at http://www.cclogic.com/register-offshore-company-online/belize-company-formation.html

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